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POST
/
short
curl -X POST "https://api.strike.markets/short" \
  -H "X-API-Key: stk_your_api_key_here" \
  -H "Content-Type: application/json" \
  -d '{
    "margin": "100.0",
    "leverage": 10,
    "symbol": "BTC-USD"
  }'

{
  "success": true,
  "positionId": 12346,
  "txHash": "0x1234567890abcdef1234567890abcdef12345679",
  "margin": "100.0",
  "leverage": 10,
  "size": "1000.0",
  "entryPrice": "45123.50",
  "liquidationPrice": "49012.85"
}

curl -X POST "https://api.strike.markets/short" \
  -H "X-API-Key: stk_your_api_key_here" \
  -H "Content-Type: application/json" \
  -d '{
    "margin": "100.0",
    "leverage": 10,
    "symbol": "BTC-USD"
  }'

{
  "success": true,
  "positionId": 12346,
  "txHash": "0x1234567890abcdef1234567890abcdef12345679",
  "margin": "100.0",
  "leverage": 10,
  "size": "1000.0",
  "entryPrice": "45123.50",
  "liquidationPrice": "49012.85"
}

​
Overview

Create a short position on Strike Protocol with specified margin and leverage. A short position profits when the asset price decreases.
This endpoint requires authentication with a valid Privy JWT token.

​
Authentication

Include your Privy JWT token in the Authorization header: 
X-API-Key: stk_your_api_key_here

​
Request Body

​
margin
string
required
Margin amount in USD. Must be a positive number as a string.Minimum: 1 USD equivalent
Example: “100.0”
​
leverage
integer
required
Leverage multiplier for the position.Range: 1 to 1000
Example: 10
​
symbol
string
required
Trading pair symbol.Supported values: “BTC-USD”, “ETH-USD”, “SOL-USD”
Example: “BTC-USD”

​
Response Fields

​
success
boolean
Indicates if the position was created successfully
​
positionId
integer
Unique identifier for the created position
​
txHash
string
Blockchain transaction hash for the position creation
​
margin
string
Margin amount used for the position
​
leverage
integer
Leverage multiplier applied
​
size
string
Total position size (margin × leverage)
​
entryPrice
string
Price at which the position was opened
​
liquidationPrice
string
Price at which the position will be liquidated

​
Position Mechanics

​
Size Calculation

Position Size = Margin × Leverage
Example: 100 USD margin with 10x leverage = 1,000 USD position size

​
Liquidation Price

For short positions, liquidation occurs when the price moves above the entry price:
  • Entry price: 45,123.50 USD
  • Liquidation price: 49,012.85 USD (higher than entry)
Higher leverage results in liquidation prices closer to the entry price.

​
Profit/Loss

Short positions profit when the mark price is below the entry price: 
Unrealized PnL = Position Size × ((Entry Price - Mark Price) / Entry Price)
Example:
  • Entry: 45,123.50 USD
  • Current: 43,000.00 USD
  • Profit: Position size × ((45,123.50 - 43,000.00 USD) / 45,123.50 USD) = ~4.71% gain

​
Business Logic

​
Balance Validation

  • Your account balance must cover the margin requirement
  • Reserved margin is immediately deducted from available balance
  • Insufficient balance returns a 400 error

​
Market Conditions

  • Position creation uses the current mark price as entry price
  • Minimum position size: 1 USD equivalent after leverage
  • Maximum leverage varies by market conditions

​
Fee Structure

Strike Protocol uses a dynamic fee structure:
  • Base fee: 0.1% of position size
  • Additional fees: Applied based on position size and market impact

​
Short Selling Mechanics

​
How Short Selling Works

  1. Borrow: Protocol effectively “borrows” the asset
  2. Sell: Immediately sells at current market price
  3. Repurchase: You profit if you can buy back at a lower price
  4. Return: Asset is returned, you keep the difference

​
Risk Considerations

  • Unlimited Loss Potential: Unlike long positions, short positions can theoretically lose more than 100%
  • Liquidation Risk: Occurs when price moves against you
  • Funding Costs: May pay funding fees to long position holders

​
Error Responses

​
400 Bad Request
object
Invalid request parameters or insufficient balance
{
  "error": 400,
  "message": "Insufficient balance for margin requirement"
}
​
401 Unauthorized
object
Missing or invalid authentication token
{
  "error": 401,
  "message": "Authorization header missing"
}
​
429 Too Many Requests
object
Rate limit exceeded (10 requests per minute for trading endpoints)
{
  "error": "RATE_LIMIT_EXCEEDED",
  "message": "Rate limit exceeded. Please wait 45 seconds.",
  "retry_after": 45
}

​
Usage Examples

​
Conservative Short Position

{
  "margin": "50.0",
  "leverage": 2,
  "symbol": "BTC-USD"
}
  • Position size: 100 USD
  • Lower risk, liquidation price further from entry
  • Suitable for moderate bearish outlook

​
High Leverage Short Position

{
  "margin": "10.0",
  "leverage": 50,
  "symbol": "ETH-USD"
}
  • Position size: 500 USD
  • Higher risk, closer liquidation price
  • Requires careful risk management

​
Hedging Short Position

{
  "margin": "25.0",
  "leverage": 4,
  "symbol": "SOL-USD"
}
  • Position size: 100 USD
  • Used to hedge existing long positions
  • Portfolio risk management strategy

​
Trading Strategies

​
Trend Following

  • Short when price breaks below key support levels
  • Use technical analysis to identify entry points
  • Set stop losses above resistance levels

​
Mean Reversion

  • Short when price reaches overbought levels
  • Target return to mean price levels
  • Monitor RSI and other momentum indicators

​
Hedging

  • Short to hedge existing long positions
  • Reduce overall portfolio risk
  • Maintain market exposure with reduced directional risk

​
Next Steps

After creating a short position:
  1. Monitor Position - Use Get Positions to track your position
  2. Check Dashboard - View comprehensive data with Dashboard
  3. Close Position - Manually close with Close Position
  4. Emergency Exit - Use Emergency Exit if needed
Short positions carry unlimited loss potential and require careful risk management. Monitor positions closely and consider using stop losses.
Short positions are suitable when you expect the asset price to decrease. Consider using lower leverage for short positions due to their higher risk profile.

Authorizations

​
X-API-Key
string
header
required

Strike Protocol API key authentication

Body

application/json
​
margin
string
required

Margin amount in USD

​
leverage
integer
required

Leverage multiplier (1-1000)

Required range: 1 <= x <= 1000
​
symbol
string
required

Market symbol (e.g., BTC-USD)

Response

Position created successfully

​
success
boolean
​
positionId
integer
​
txHash
string
​
margin
string
​
leverage
integer
​
size
string
​
entryPrice
string
​
liquidationPrice
string