How to trade on Orderly Network?

CoolWallet is pleased to announce its partnership with Orderly Network, a self custodial, multi-chain supported wallet that seamlessly integrates hardware and software with a mobile-first approach. This partnership will welcome CoolWallet into the Orderly fold as they launch their first-ever perp DEX offering, built on Orderly Network.

CoolWallet users can now do more than the basic swap functions from within their wallets. The Orderly-powered DEX will enable seamless perp trading, with leverage of up to 50X across multiple assets on major EVM chains, including Arbitrium, Polygon, Optimism, Base, etc. 

But for our article today, we wanted to give you a step by step guide on how you can get trading with Orderly Network on CoolWallet. Let’s jump into it!

Trading on CoolWallet with Orderly Network

Step 1

Firstly, you will want to ensure that you have an EVM compatible wallet set up and funded with some USDC and ETH to pay for gas fees (both on the Arbitrum network, you will see why below).Once funded, you can head over to CoolWallet App , where your first step is to connect up your wallet. Thankfully, CoolWallet makes this easy by offering connections for a number of the most popular EVM wallets as : MetaMask

* We recommend using the app version for ease of use. The desktop version requires syncing your CoolWallet assets with MetaMask first.

1. Select “Connect Wallet” in the top right corner of CoolWallet.

2. Choose your wallet to connect with 

Step 2

Next, you will want to choose the network that you want to connect to. CoolWallet offers a number of networks, however as Orderly Network is active on Arbitrum (and also Base、Polygon、Optimism), we went ahead and selected Arbitrum as my network for trading on.

Step 3

Next, we are ready to begin trading. To do this with Orderly Network on CoolWallet, you want to head over to the trading widget on the right side of the CoolWallet platform and first of all select “Enable Trading”. Your wallet will then pop up asking you for a signature request, which you should review and sign.

Step 4

Once signed, you can then head back to the trading widget where you can press the wallet symbol which will allow you to deposit funds from your wallet into your Orderly Network account through the CoolWallet. You should select “Deposit” and enter the amount of USDC you wish to deposit and then approve the transaction in your wallet and complete the deposit.

Step 5

Once your deposit has been processed (this can take a couple of minutes), you should see that some of your wallet balance has decreased and your Orderly balance has increased, as can be seen below. With this, you are now ready to start trading with Orderly Network through CoolWallet.

Step 6

Now that your account has been funded, on the trading widget you can adjust the asset you wish to trade, the level of leverage you wish to set, the direction of your trade and the position you wish to enter. CoolWallet clearly displays all the information and the fees you will encounter. 

When you are happy with everything, you can then press the Buy or Sell button to enter your position.

Step 7

You can then review your positions once completed on the main console and track your pnl. If at any point you wish to fully or partially close your position, you can use the “Close” button and so on.