The claim feature allows the use of funds you have in your Margin Wallet to settle a leveraged position as an exchange buy or sale. Claiming some or all of a position requires that you have enough partially realized P/L (you've reduced the position at a profit) and/or funds (BTC or USD) in your Margin Wallet (net of any outstanding financing charges) to satisfy some or all of the outstanding financing associated with your position.
For a BTC/USD short, claiming the position would result in crediting the USD value to your balance; i.e., the base price multiplied by the size of the position (sell size of the position). A 0.2% fee is assessed to the amount credited to your balance. For a BTC/USD long, claiming the position would result in crediting the BTC to your balance.
Example: If you have $100 USD in your wallet and a 0.1 BTC/USD active long position, claiming your position would use your available USD to reimburse the margin funding used to fund the 0.1 BTC position at the opening price and deduct it from your trading balance. At a base price of $250 per BTC, you will end up with approximately $75 USD, 0.1 BTC, and the margin position would no longer exist.
$250/BTC x 0.1 BTC position size = $25
$100 - $25 = $75 USD
(0.1 BTC - 0.2% claim fee) = 0.0998 BTC
Approximately $75 USD and 0.0998 BTC would be credited to your wallet balances.*
*If you borrowed cryptocurrency to fund your position, you will be charged the pending margin funding costs and the position amount through your cryptocurrency balance. If you borrowed USD to fund the position, you will be charged the pending margin funding costs and the position amount through your USD balance.
Note that it is not possible to utilize the calculated P/L of an open position as it is unrealized until the moment it is realized; i.e., the position is closed and profits/losses assessed upon the position.
Claiming a position is essentially converting from a margin trade into an exchange trade; closing the position by buying it yourself and settling your funding costs to the lender. Because of this, there is no trade activity on the order book.
Claiming your position does not involve trading. If you do not have enough balance to claim the position when you click "Claim", the system will notify you, "You need to sell approximately XX bitcoins at the current price to claim the position.” It is up to you to reduce the size of the position using the type of orders you want prior to claiming the position.