> For the complete documentation index, see [llms.txt](https://docs.asterdex.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.asterdex.com/trading/otc-trading.md).

# OTC trading

### How do I initiate an OTC trade?

1. Navigate to the OTC Trade page from the navigation bar.
2. On the Initiate tab, complete the following fields:
3. Role: Select Taker or Maker. Agree on roles with your counterparty in advance — this determines your applicable fee rate.
4. Trading parameters: Fill in the trading pair, direction, position mode, and leverage.
5. Quantity: Must fall within the OTC minimum/maximum limits for the selected symbol.
6. Agreed price: Must not deviate by more than ±10% from the current mark price.
7. Expiry: Each order has a validity period. If your counterparty does not confirm before expiry, the order expires and must be re-submitted.
8. Click Initiate Block Trade. Review the details in the confirmation pop-up, then complete the signature.
9. Once signed, a unique Deal code will be generated. Share this Deal code with your counterparty via off-platform channels.

Note: You may have up to 20 pending OTC orders at one time. Any pending order may be cancelled before it is accepted.

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### How does my counterparty accept the trade?

1. On the OTC Trade page, your counterparty should open the Accept tab.
2. Paste the Deal code you shared, then click Search.
3. Review all displayed trade details carefully:
4. Initiator side: Role, trading pair, agreed price, quantity, partial address, direction, and remaining time to expiry.
5. Your side: Assigned corresponding role, available position modes and leverage options, estimated margin requirement, and estimated fees.
6. Select their preferred position mode and leverage, then click Confirm.
7. Complete the signature in the confirmation pop-up.
8. The system will verify margin sufficiency for both parties simultaneously. If all checks pass, positions are opened for both sides at the agreed price.

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### Where can I view my OTC position after the trade is filled?

Go to Futures → Positions. All filled OTC positions appear alongside standard futures positions.

Important: Filled OTC positions are managed and closed exactly like regular futures positions. Pending OTC orders appear only in Order History — they will not appear in the Positions tab until accepted.

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### What happens if my OTC order expires?

Expired orders remain visible in Order History. Locate the expired order, click Details → Re-submit. All original parameters will be pre-filled automatically — you do not need to enter them again.

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### What if my counterparty has insufficient margin when accepting?

* The order remains Pending and stays visible to both parties. Your counterparty may deposit additional margin and attempt acceptance again before expiry.
* If you (the initiator) have insufficient margin, the system will automatically cancel the order immediately upon submission.

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### How are fees calculated?

Fee = Quantity × Agreed Price × Applicable Fee Rate

Fee rates differ between Taker and Maker. Always confirm your respective roles and review the displayed estimated fee before signing — the fee will be shown at the time of order creation.

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### Will an OTC trade affect the market price?

No. OTC trades are executed entirely off the public order book. They have zero impact on the public market price, order book depth, or spot/futures pricing.

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