Spot

A market where you buy or sell an asset for immediate settlement — no leverage, profit is just sell price minus buy price.

See also: futures

Futures

A contract market that tracks a spot price but lets you use leverage and go short. On this app futures are perpetual — they never expire — and use funding rates to stay in line with spot.

See also: leverage, funding rate, short

Mark Price

The reference price used to calculate unrealized P/L and trigger liquidations for futures positions. On this app it tracks the spot index price for the same base asset.

Tick

A single price update. The ticker publishes one per second per instrument, and every order evaluation runs on a tick.

Candle (OHLCV)

A summary of price movement over a fixed window: open, high, low, close, and volume. This app supports 1m, 5m, 15m, 1h, 4h, and 1d candles.

Volume

How much of an asset was traded during a window, measured in the base asset. Higher volume means more liquidity and tighter slippage.

Limit Order

An order to buy or sell at a specific price or better. It waits in the book until the market reaches your price, and you pay the maker fee when it fills.

Market Order

An order to buy or sell immediately at the best available price. Fills fast, pays the taker fee, and may slip if the book is thin.

Stop loss

A conditional order that fires when price crosses a threshold in the losing direction, used to cut losses on an open position.

See also: take profit, bracket

Take profit

A conditional order that fires when price crosses a threshold in the winning direction, used to lock in gains without watching the chart.

See also: stop loss, bracket

Trailing Stop

A stop loss that follows the best price you've seen — it ratchets closer as the market moves in your favor and fires if price reverses by the trail percentage.

Post-only

A flag on a limit order that rejects the order if it would immediately match, guaranteeing you pay the maker fee.

Reduce-only

A flag on a futures order that only closes or reduces a position, never opens or grows one — useful as a safety net on stops.

IOC (Immediate-or-Cancel)

A time-in-force flag that fills what it can right away and cancels the rest; it never rests in the book.

GTC (Good-Till-Cancelled)

The default time-in-force — the order stays active until it fills or you cancel it.

Bracket Order (OCO)

An entry with a stop loss and/or take profit attached — when the entry fills the exits activate, and when one exit fires the other cancels.

Long

Betting price will go up — you buy first and sell later. On spot everything is long by default; on futures, long means buy to open.

Short

Betting price will go down. On futures you sell first (borrowing the asset implicitly) and buy later to close, profiting when price falls.

Leverage

A multiplier on position size — 10x means $100 of margin controls a $1,000 position. Gains and losses magnify equally, and your liquidation price sits closer to entry as leverage rises.

Isolated Margin

Each position has its own locked margin — if it liquidates, only that margin is lost and the rest of your balance is safe. Recommended while you're learning.

Cross Margin

All positions share a single collateral pool, so a losing position can draw on your entire balance — you survive bigger drawdowns but risk losing everything at once.

Maintenance Margin

The minimum equity required to keep a position open — 1% of notional on this app. If your margin drops below this line, the position is liquidated.

Liquidation

What happens when your margin hits maintenance — the position is force-closed at market, you lose the posted margin, and a 0.5% liquidation fee is deducted.

Unrealized P/L

The paper profit or loss on an open position if you closed it right now at the mark price. It's not money in your pocket yet — it becomes realized when you close.

Realized P/L

The profit or loss from trades that have already closed. This is what actually hits your balance.

Funding Rate

A periodic payment between long and short futures holders that keeps the perpetual price tethered to spot — positive means longs pay shorts, negative means shorts pay longs. Settles every 8 hours.