Words we use

Every word these pages use that you might have to look up, in plain English. Point at an underlined word on any page to see its meaning there.

A

Arbiscan: A public website. It shows every payment and every wallet on Arbitrum, and the code that runs Arlo.
Arbitrum: The public network Arlo and GMX run on. On testnet, Arlo uses Arbitrum Sepolia, a practice copy with free test money.
Arlo: A trading account funded by one Trader and one Backer for up to 30 days. Also the name of the company that makes the app.
Arlo’s share: The part of the fee Arlo keeps: $30. It is paid last, after the Backer, and only from what is left.

Backer: The person who puts in $2,000 and earns a $120 bonus, paid first at the end if the wallet covers it.
Bonus: The $120 the Backer earns, 6% on their contribution. It is part of Arlo’s fee, paid after the Backer’s money and before Arlo’s share.

Cash change: What came back to you at the end, less what you put in. Your receipt shows it last.
Closing allowance: $1 and 0.10% of a trade’s size, held back in the loss room so the trade can always be closed. It returns to the room when the trade closes.
Closing service: A service Arlo runs that watches every wallet and asks the code to close trades when the rules allow it. Anyone can do the same.
Contribution: The money you put into an Arlo: $1,000 for a Trader, $2,000 for a Backer.
Cushion: $50 of the Trader’s money left between the line and what the wallet owes. If trades close past the line, it pays first. Otherwise it goes to the Trader at the end.

ETH: The coin that pays network fees on Arbitrum. On testnet you use free test ETH.

Fee: Arlo’s one fee: $150 per Arlo, taken from the wallet at the end. It pays the Backer’s $120 bonus and Arlo’s $30 share.
Frozen stop: A stop GMX could not fill, which stays in place without working. It counts as no stop until you replace it.

Leverage: A trade’s size divided by its margin. At 10x, $100 of margin controls $1,000.
The line: The wallet value where trading stops: $2,200. It is what the wallet owes, $2,150, plus the $50 cushion.
Liquidation: When GMX closes a trade itself because its losses have nearly used up its margin. The margin is lost.
Long: A trade that gains if the price rises.
Loss room: The most that open trades can be set to lose: the wallet’s value less the line. It starts at $800.

Network fee: A small charge for each action on Arbitrum, like putting money in or cancelling a place. You pay it in ETH.

Payout: What happens when an Arlo ends. The wallet pays the Backer’s money first, then the bonus, then Arlo’s share, then the Trader.
Place: Your spot in line for an Arlo, paid for in full. You can hold up to four, waiting or running.

Queue: The code that holds waiting places and matches them in the order they arrive.

Short: A trade that gains if the price falls.
Size: How much a trade controls. At most $15,000 per trade.
Stop: A price where a trade closes to limit its loss. In an Arlo, a trade’s loss at its stop must fit in the loss room.

Take profit: A price where a trade closes to lock in a gain. It frees no loss room.
Testnet: A practice copy of the network with free test money. Arlo runs there today.
Trader: The person who puts in $1,000 and trades the whole $3,000 wallet.
Trading costs: What GMX charges a trade: fees to open and close it, borrowing, funding and price impact.

Wallet: Two meanings. Your wallet is the app that holds your money. An Arlo’s wallet is the one the code makes for each Arlo, which holds both contributions.