> ## Documentation Index
> Fetch the complete documentation index at: https://docs.vanna.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# For Traders

> Borrow against many collaterals and use the loan for swaps, perps and yield.

## What you can do

| Goal | How |
| - | - |
| Borrow without selling | Deposit SOL, LSTs, stables or xStocks and borrow SOL, USDC or USDT ([Borrow](https://docs.vanna.finance/solana/guides/margin/borrow.md)) |
| Leverage up to 10× | Use the leverage slider on Margin; borrow one asset or two at once with Dual Borrow |
| Swap with leverage | Swap inside the margin account on Jupiter or Titan ([Spot](https://docs.vanna.finance/solana/guides/trade/spot-swap.md)) |
| Long or short | Phoenix perps on SOL, ETH, BTC, TSLA and META, up to 5× per order ([Perps](https://docs.vanna.finance/solana/guides/perps/overview.md)) |
| Leveraged yield | Supply to Kamino, or deposit into Perena or delta-neutral basis vaults ([Farm](https://docs.vanna.finance/solana/guides/farm/overview.md)) |
| Close everything | Flash repay closes positions and repays every loan in one guided flow ([Repay](https://docs.vanna.finance/solana/guides/margin/repay.md)) |

## Your numbers

* **Health factor**: collateral ÷ debt. Liquidation at 1.10 or below. See [Health Factor](https://docs.vanna.finance/solana/guides/margin/health-factor.md).
* **Leverage**: everything the account holds (borrowed funds included, open perps at full size) ÷ your equity. 1.00x means no borrowing.
* **Collateral left before liquidation**: how much value your collateral can lose before the account reaches 1.10.

Every page that can change your account shows a before → after preview of these numbers before you sign.

> [!WARNING]
>
> Leverage can get your account liquidated. Prices, borrow interest, swap slippage, perp funding and vault share prices all move your health factor, which must stay **above 1.10**. Only use what you can afford to lose.

## How to start

**1. Sign in and get test funds**

[Connect](https://docs.vanna.finance/solana/guides/connect-wallet.md) and mint test funds from **Deposit** ([Faucet](https://docs.vanna.finance/solana/guides/faucet.md)).

**2. Open your account**

[Open a margin account](https://docs.vanna.finance/solana/guides/margin/open-account.md) and [deposit collateral](https://docs.vanna.finance/solana/guides/margin/deposit-collateral.md).

**3. Borrow and use it**

[Borrow](https://docs.vanna.finance/solana/guides/margin/borrow.md), then swap, trade perps or farm.

## Next steps

> **[Margin overview](https://docs.vanna.finance/solana/guides/margin/overview.md)**
>
> Collateral, loans and leverage in one place.

> **[Perps](https://docs.vanna.finance/solana/guides/perps/overview.md)**
>
> Long or short on Phoenix.


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