Rough and medium grit whetstones should be soaked in water for 10-15 minutes prior to usage. When using fine stones, simply splash water on the stone as you sharpen.
Do I need to soak my sharpening stone?
Natural sharpening stones can be used dry or wet, but wet is recommended. Water, water-based honing oil or petroleum- based honing oil keeps the pores of the stone clean, dissipates frictional heat and ensures smooth sharpening action.
How do you prepare a whetstone?
Before busting out the knife and getting to work, you'll need to prep your whetstone. Though there is some room for debate on the subject, most people with a lot of knife experience recommend that you soak the whetstone in cold, clean water for about 10 minutes before you begin sharpening.