Understanding prices
Prices are shown in cents and represent the market’s implied probability:- 50¢ means a 50% chance the outcome resolves YES; 90¢ means 90%.
- A YES token at 30¢ and its NO token at 70¢ always sum to about 100¢.
Prices refresh automatically but can lag a move by a few seconds. If one looks stale, reload the event page.
Before you trade
You need an active challenge or funded account to submit trades. If you don’t have one, visit
/accounts to buy a challenge, or try the free demo account to get familiar with the trade panel first.Placing a trade
Open an event
From Markets (
/markets), click any event card to open its event page at /event/[slug].Select an outcome
The outcomes table lists every tradable market for the event. Click a row, or the Yes / No button, to select it and pre-fill the direction.
Choose YES or NO
- YES: you expect the outcome to resolve YES. Your entry price is the current YES token price.
- NO: you expect it to resolve NO. Your entry price is the current NO token price.
Enter an amount
Type a USDC amount in the Amount ($) field, or use the quick-add buttons. The MAX button uses the largest amount your challenge rules allow.As you type, the panel shows:
- Avg. price: your entry price in cents.
- Est. fee: the fee for this market (often Free). See Fees & execution.
- To win: your potential gain if the trade resolves at 100¢, after fees.
How shares are calculated
Your shares are your amount divided by the entry price (as a decimal). At 40¢ with $20 you get 50 shares; if it resolves to 100¢, those shares are worth $50, a $30 gain.On markets that charge a fee, the fee comes out of your amount first, so you receive slightly fewer shares. Each fill is stored as its own position, with no netting. See Fees & execution.
Wide spread warning
If the gap between the YES and NO prices is wider than 3¢, the panel warns you. A wide spread can show an immediate paper loss until the market tightens, common on lower-liquidity markets. It is not an error, but check the spread before trading.Closing a position
Find your position
On the event page or the Portfolio page (
/portfolio), open the Positions panel to see your open positions with their current price and PnL.Close it
Click Close, then Sell at market in the confirmation. The position closes at the latest price. Closing before resolution may include a fee; holding a winner to resolution is free. See Fees & execution.