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Series and markets

A series is a recurring market on one underlying at one cadence. sol-15m opens a new window on SOL every 15 minutes; aapl-60m one on AAPL every hour. A market is one window of a series — a single binary contract that settles Up or Down. Its ticker names the series and the window, for example sol-15m-261006-1630-1645. Treat tickers as opaque strings and read the times from the market itself. A window stays listed from when it is scheduled until about an hour after it settles. To follow a series from window to window without polling, subscribe to it by series_tickers on the websocket.

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The contract

Each window has a price to beat: the underlying’s price at the window’s open (price_to_beat).
  • Up pays $1 per contract if the underlying’s settlement price at the close is at least the price to beat. Both prices are rounded to 4 decimals, and a tie goes Up.
  • Down pays $1 per contract otherwise.
Exactly one side pays, so an Up contract at 30¢ and a Down contract at 70¢ are the same position seen from opposite sides. The exact rule for each series, including where its prices come from, is in its contract_terms and settlement_source.

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Status

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Prices and the book

Prices are dollars on a 1¢ grid, "0.01" to "0.99" (price_ranges, tick_size). Because Up and Down always add up to $1, the book is published as bids only, one list per outcome:
  • up — bids to buy Up.
  • down — bids to buy Down. An offer to sell Up at 30¢ is the same liquidity as a bid for Down at 70¢, so it appears here.
So the best Up ask is 1 − best down bid. A market’s up_bid / up_ask fields give you the top of book on the Up scale directly.
Here the best Up bid is 1¢ and the best Up ask is 1 − 0.95 = 5¢. Each level is [price, contracts], best price first.

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Trades

GET /markets/{ticker}/trades lists a market’s trades newest first. Each trade is described from the taker’s side (taker_outcome, taker_action, price) and on both scales (up_price + down_price = 1). Accounts are never published. Page back with cursor.

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Fees

Each series publishes the fee it charges per contract right now in fee_schedule, as a formula in p (the price), for example a taker fee of min(0.07 * p * (1 - p), 0.0175) and a maker fee of 0. Read it from the API rather than hard-coding it: it can change.