# Remove Long Position

## **Detailed procedures for** Remov**ing long positions**

<figure><img src="https://1592049914-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MJygKa-Pq2tO-w7HGny-887967055%2Fuploads%2Fdh1VA1AVvKyfZ03FHbAy%2F(ENG)%20Long%20Deposit%20-%20Remove%20Position.png?alt=media&#x26;token=efe2d1ad-7538-45e4-8055-117e9dd1009f" alt=""><figcaption></figcaption></figure>

The example above assumes that the KLAY 3x long position deposit user opened positions at 1 KLAY = 0.5 USDT, and after a year closed all positions at 1 KLAY = 0.8 USDT.

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User's account status at the time of opening is as follows.&#x20;

1\) Price of KLAY at opening: 1 KLAY = 0.5 USDT

2\) Earn USDT single pool deposit interest on my asset 1,000 USDT (3.00% per year), Earn KSP reward 3) Earn KLAY single pool deposit interest on position asset 5,982 KLAY (2.00% per year), Earn KSP reward

4\) ) USDT Utilization cost for utilized asset 3,000 USDT incurs (6.00% per year)

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**At the time of closing the position after 1 year, the account situation is as follows.**

1\) Price of KLAY at closing: **1 KLAY = 0.8 USDT**

2\) **My Asset**  = 1,000 USDT \*(1+0.03) = 1,030 USDT = **$ 1,030.00**

3\) **Position Asset** = 5,982 KLAY\*(1+0.02) = 6101.64 KLAY = **$ 4,881.31**

4\) **Utilized Asset** =  3,000 USDT\*(1+0.06) =3,180 USDT = **$ 3,180.00**

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**Step 1**

* When requesting position close, the utilized asset, USDT, is first returned using KLAY, a long position token deposited in a single pool.
* To return the utilized 3,180 USDT, 3986.96088 KLAY has to be swapped for USDT from the KLAY/USDT pool.

\[Reference] Calculation of the quantity of KLAY (x) needed to return 3,180 USDT

1 KLAY = 0.8 USDT, 0.3% swap fee will incur during swap.\
x = 3,180/((1-0.003)\*0.8) = 3986.96088265 KLAY

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**Step 2**

* Close the position by returning the 3,180 USDT earned.
* Partially returning the assets lets the user decide how many positions to close.

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The following assets will be distributed to the user who has completed depositing long positions as described above.&#x20;

1\) My Asset 1,030 USDT (Deposit interests **+ 30 USDT earned**)

2\) Position Profit + **1,701.31 USDT** (=$4,881.31- $3,180.00)

3\) Additional KSP rewards from USDT and KLAY pool