> For the complete documentation index, see [llms.txt](https://xdex.gitbook.io/xdex/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://xdex.gitbook.io/xdex/faqs/glossary.md).

# Glossary

Index of terminology and technical information related to the XDEX application.

**Assets**: Assets with a positive balance.

**Unsettled USDC**: The portion of open perp PnL yet to be settled. Perpetual positions are “settled” between traders, transferring USDC between winning and losing positions. Settlements are made periodically and once a position is closed.

> **PnL = Sum (settled USDC) + Sum (unsettled USDC)**

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***Unsettled USDC** contributes to your health and is weighted 1:1 with USDC. Unsettled USDC is visible in your Balances tables, but isn't transfered into your balances until settled. For example: if you have positive unsettled USDC it won't be considered available until settled.*
{% endhint %}

**Trade Leverage (Perpetuals)**: Before placing a perp trade, you can adjust the trade's leverage and subsequently, your *Max Position*. Your Max Position is a product of your Available Funds \* Trade Leverage.

For example, If you have $100 of Available Funds and set Trade leverage to 5X, this would result in a Max Position of $500 for that trade.This doesn’t mean you need to place a trade for that amount if your free collateral does not allow you to do so — it just lets you set a limit on your Max Position. You can use the slider to enter a % of that Max Position size.

{% hint style="info" %}
*Trade leverage is not to be confused with account leverage. Trade leverage is on a per-trade basis and is included to help users size their trades.*
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**Predicted Funding rates (1h/annualized)**: Funding payments are made every hour and calculated algorithmically based on the Index Price & TWAP of filled trades on the XDEX orderbook. The 1h and annualized rates display the current funding rate.