# Glossary

## Trading

**Available balance:** The assets deposited in a trader's InfinityPools wallet (vault) that can be used to open a trading position in a given market.

**Hourly funding rate:** The percentage of notional paid every hour by traders to keep their positions open.

**Unwind price:** Price at which the trader’s margin goes to 0, causing the position to unwind when the protection period ends.

**Protection period:** Period during which the trading position cannot be unwound. When finished, starts over if the trading position is on the good side of unwind price (above for longs, below for shorts).

**Grace period**: Period after the protection period ends during which the position notional slowly unwinds (via TWAP) instead of immediately dropping to 0. Only relevant for trades with leverage less than 40x.

**Execution price:** Price at which a trader would enter or exit a trading position.

**Market impact:** The impact a trader's order has on the market's pool price.

## Liquidity provisioning

**Wallet balance:** The assets inside a trader's main wallet that can be used for liquidity provisioning.

**InfinityPools balance:** The assets inside a trader's InfinityPools wallet that can be used for liquidity provisioning.

**Price range:** The range of prices across which a liquidity provider deploys their assets. The deployed assets can be borrowed or used for spot swaps at the given prices.

**Claimed fees:** The fees generated by providing liquidity that have been withdrawn from InfinityPools.

**Unclaimed fees:** The fees generated by providing liquidity that are currently idle in InfinityPools.

**Historical 7D APR:** The total annual percentage yield paid to liquidity providers in the given market & price range over the last seven days.

**Utilization rate:** The percentage of liquidity in the given market & price range that is currently on loan.


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