Exit Early
Borrow Positions
A borrow position is exited by closing its debt before maturity. Because a full repayment is always available, you can exit a borrow position at any time.
You close your debt through the order book, with two ways to exit:
- Market repayment: You repay at the current market rate. When there is liquidity, the app matches the order book, which can cost less than repaying at par; otherwise it repays the remaining interest in full.
- Limit order: From the trading component, you set a target rate and relist your position as a limit order, then wait for a counterparty.
If no counterparty fills your order, the position stays open and you can still repay in full at any time. See Exit Early for how rates affect the cost of exiting.
- Portfolio page
- Trading component
Go to the Portfolio page, where your positions are listed. You can exit directly from the positions table without opening the position's detail page.
In the positions table, hover over the position's row, then click the three dots and click Repay. You can also click the position to open its detail page, then in the Borrow section of the Actions tab, click the three dots and click Repay. Both paths open the Repay window.
In the Repay window, enter the amount you want to repay, up to the Max repay shown. The app takes the most efficient path for that amount: it matches the order book at the current market rate when there is liquidity, otherwise it repays at par. Review the cost to close.
Click Continue, then confirm and sign the transaction in your wallet. To exit through the trading component instead, click Trading view in the window.
You can also exit from the trading component, where you can repay at the current market rate or relist your position as a limit order at a target rate and wait for a counterparty.
Go to the Markets page and select the market where you hold the position.
Select the term your position is in so it displays in the component.
Select the Lend tab. Because you already hold a borrow position at that term, the app shows an Existing borrow position prompt instead of letting you initiate a new one. Click Repay in that prompt to open a Repay tab.
In the Repay tab, enter the amount you want to repay, then choose Market to repay against an existing offer at the current rate, or Limit to set a target rate and relist your position as a limit order.
Click Review Order for a market repayment or Review Limit Order for a limit order, then confirm and sign the transaction in your wallet.
Lend Positions
A lend position is exited by reselling it to another lender before maturity. Unlike a borrow position, which can always be repaid at par, exiting a lend position depends on liquidity: reselling needs a counterparty willing to buy the position.
You resell your position through the order book, with two ways to exit:
- Market resale: You resell at the current market rate. When liquidity covers only part of your position, the resale is partial: you resell up to the amount the order book can absorb and hold the rest to maturity.
- Limit order: From the trading component, you set a target rate and wait for a counterparty, whether to hold out for a better rate than the market offers or because there is no liquidity to resell against right now.
If no counterparty fills your order, you hold the position to maturity and withdraw your principal and interest then. See Exit Early for how rates affect the value of your position when exiting.
- Portfolio page
- Trading component
Go to the Portfolio page, where your positions are listed. You can exit directly from the positions table without opening the position's detail page.
In the positions table, hover over the position's row, then click the three dots and click Resell. You can also click the position to open its detail page, then in the Lend section of the Actions tab, click the three dots and click Resell. Both paths open the Resell window.
In the Resell window, enter the amount you want to resell, up to the Max resell shown. The position is resold through the order book at the current market rate, so the Max resell reflects the liquidity available to buy it. Review the resale value and any gain or loss before continuing.
Click Continue, then confirm and sign the transaction in your wallet. To exit through the trading component instead, click Trading view in the window.
You can also exit from the trading component, where you can resell at the current market rate or relist your position as a limit order at a target rate and wait for a counterparty.
Go to the Markets page and select the market where you hold the position.
Select the term your position is in so it displays in the component.
Select the Borrow tab. Because you already hold a lend position at that term, the app shows an Existing lend position prompt instead of letting you initiate a new one. Click Resell in that prompt to open a Resell tab. The prompt appears only when the selected term matches your position's term.
In the Resell tab, enter the amount you want to resell, then choose Market to resell against an existing offer at the current rate, or Limit to set a target rate and relist your position as a limit order.
Click Review Order for a market resale or Review Limit Order for a limit order, then confirm and sign the transaction in your wallet.
Note: If market rates have moved since your position was initiated, you may realize a gain or a loss when reselling. Learn more about how rates affect early exit value.