# About Sidepit What is Sidepit? [**sidepit**](https://sidepit.com) provides best-in-class trade executions for hedging or speculating on the US dollar price of Bitcoin without taking unnecessary risks. Traders use their hot wallets to lock Bitcoin at market open, sign buy/sell orders during market hours, and then unlock their profit or loss at market close. All of this occurs in a transparent, fair, and competitive marketplace, similar to the level playing fields once found in traditional open-outcry trading pits. Sidepit represents a new paradigm in electronic exchanges—its patented consensus auction mechanism recreates the spirit of the Chicago trading pits. By doing so, it levels the playing field, delivers better pricing, and ensures stable execution. ## How does it work? All orders enter a single executable pool, and an auction takes place once every second to determine transaction order. Participants bid based on the value of their orders. Compared to traditional high-frequency exchanges that operate thousands of times faster, Sidepit’s slower, one-second cadence prevents latency-driven exploitation. In this environment, market orders are effectively paid to trade, encouraging true liquidity formation. Buyers compete fairly for order flow without the usual high-frequency trading tactics. The result? More authentic market depth, better pricing, and safer fills—while avoiding the pitfalls of OTC fees, fragmented order books, and flash crashes.
# Who We Are At Sidepit, we are pioneers working at the intersection of finance and technology, dedicated to reshaping the landscape of exchange trading. Founded by a seasoned Wall Street professional with over 25 years of experience, our team is a diverse collective of experts in blockchain, financial markets, and software engineering. Together, we share a common vision: to democratize exchange speculation and hedging, making it transparent, fair, and accessible to all. Our journey began with a simple yet ambitious goal: to address the inherent risks and transparency issues in current exchanges. Drawing on our founder’s industry insights and our team’s innovative spirit, we developed Sidepit—a groundbreaking exchange platform designed to revolutionize how institutions and individuals interact with Bitcoin and the US dollar. Sidepit is not just another exchange; it’s an entire ecosystem designed to solve core problems in price discovery and execution. With our patented Distributed Limit Order Book (DLOB) technology, we’re leveling the playing field—removing undue advantages from high-frequency trading bots and ensuring that every market participant has a fair chance at success. Our mission extends beyond technology. We strive to foster a community where traders of all experience levels can confidently navigate the complexities of the market. By offering intuitive, user-focused solutions and prioritizing security, we aim to make trading more reliable, transparent, and rewarding. As we look to the future, Sidepit remains committed to continuous innovation. We are always seeking new ways to enhance our platform and services, driven by the belief that a more open and accessible global financial system benefits everyone. We are Sidepit—your partner in trading and hedging. Join us as we challenge the status quo, embrace cutting-edge technology, and pave the way for a fairer, more inclusive financial ecosystem. # Sidepit L2 Private Beta # L2 Overview ## Introduction Sidepit L2 is a Bitcoin-denominated exchange designed for speculating on and hedging the price of US dollars against Bitcoin. By starting with a USD-forwards order book priced in BTC, Sidepit aims to deliver a transparent, efficient, and secure trading environment. This product choice aligns with both market demand and Sidepit’s core philosophy of building from first principles. ### Why Start With a USD/BTC Forward? 1. **Liquidity & Volatility:**\ Bitcoin’s robust liquidity and volatility offer fertile ground for day traders seeking price exposure and opportunity. 2. **Natural Hedging Needs:**\ Bitcoin holders often need to manage US dollar exposure. A USD-forwards product serves as a straightforward tool for hedging dollar risk while staying within the Bitcoin ecosystem. 3. **First Principles Design for Price Discovery:**\ Just as Bitcoin was a technical breakthrough, Sidepit applies first principles to solve a different but related problem: achieving fair price discovery while minimizing execution risks and price manipulation. By carefully designing both the technology and the market structure, Sidepit can significantly reduce exploitative behaviors. 4. **Innovating Beyond MEV-Prone Models:**\ Many blockchain-based exchanges suffer from Miner Extractable Value (MEV) and front-running. Sidepit addresses this by introducing a structure that diminishes these advantages. Instead of relying on hope or complexity to deter predation, Sidepit’s foundational design discourages exploitative behaviors from the outset. ## A New Paradigm Sidepit represents a fundamental shift in how exchanges operate—particularly in the world of decentralized trading. By combining the speed and user experience of traditional financial systems with a decentralized limit order book (DLOB), it opens a new path forward. ### A Hybrid Exchange Model At its core, Sidepit utilizes a Decentralized Limit Order Book (DLOB), while still requiring certain trust-minimized conditions for participation: * **Controlled Asset Access:**\ To mitigate MEV and ensure orderly price discovery, traders must lock their Bitcoin into Sidepit’s system before trading. Unlike a typical custodial exchange, this locked position is maintained on a decentralized, transparent ledger. While traders do not hold unfettered access to their funds at every moment, this design is essential to preventing front-running and ensuring a fair market for all participants. * **Decentralized Limit Order Book:**\ The order book itself is decentralized, operating through open, once-per-second auctions. This structure removes the latency advantages typically exploited by high-frequency traders in TradFi and neutralizes miner or validator advantages that lead to MEV in DeFi markets. By creating predictable, discrete time intervals for order matching, Sidepit ensures that no single participant can gain an undue edge through speed or privileged access. In blending the proven efficiencies of centralized exchange infrastructures with the fairness and transparency of decentralized protocols, Sidepit sets a new standard for balanced, trustworthy trading environments. The result is a market designed to put price discovery first, ensuring that all participants benefit from a level playing field. # Private Beta Overview ## Introduction Sidepit will undergo a staged Beta rollout, beginning with a Private Beta. This controlled launch phase aims to validate the platform’s functionality, user experience, and underlying model under real-world and real-money conditions. ### Beta Launch Roadmap The private beta phase is the initial step in Sidepit’s Beta launch. During this period, participants will help test the core features, provide feedback, and assist in refining the overall trading experience. **Key Goals of the Private Beta:** * Validate core matching engine functionality * Gather user feedback on UI/UX * Test real-money trading conditions * Identify areas for improvement before the broader launch ### Launch Schedule * **Start:** December 20th, 6:00 AM PT * **End:** December 27th, 6:00 PM PT During this window, invited participants can trade and engage with Sidepit’s early-stage matching engine. The instrument available during the beta is **USDBTCZ24**, a Bitcoin-denominated US dollar derivative contract valued at $500. ## Trading Interfaces and Tools Sidepit supports a range of interfaces and APIs to accommodate different trading styles and technical capabilities: * **Web Trading App:**\ A user-friendly, browser-based interface suitable for most participants. Place orders, view your position, and monitor the market through a straightforward interface. * **Python CLI:**\ A command-line interface equipped with WebSocket and JSON APIs. Ideal for algorithmic traders seeking low-latency execution and programmatic access. ## Settlement and Expiry * **Last Trade for Beta:** December 27th, 6:00 PM PT * **Final Settlement:** The USDBTCZ24 contract will settle based on a “tick” from an external, pre-committed price source. For security reasons, the identity of this price source will remain undisclosed until after the beta concludes. The CEO will reveal the source following expiry. At expiry, all positions will be settled and closed. Each trader’s final balance (after profit and loss) will be deterministically calculated and **unlocked** back to their Sidepit-ID, which corresponds to the Bitcoin address they initially used to lock their funds. **Important:**\ For this initial run, there will be no unlock request transactions. All funds remain locked until the end of the trading phase, at which point the settlement process occurs automatically. ## Verifying the `SIDEPIT_BETA1_LOCK_ADDRESS` **SIDEPIT\_BETA1\_LOCK\_ADDRESS:**\ bc1qn9szw2tfte4m2l7enhentvjpvnque932xr2m03 Participants using the Trading App UI during this private beta must manually enter the above address into the UNISAT wallet plugin. Future iterations of Sidepit will introduce custom wallets and improved UX, eliminating this requirement. **How to Confirm the Correct Address:** 1. Visit a trusted Ordinals explorer, for example: [ordinals.com](https://ordinals.com/children/f3c5985ee48ceac9af3ff7aaa63626a2a4b1bb9f59a02c5822ca6878afc2ee2ci0) 2. Locate the Sidepit Jacket collection created on March 8, 2024, and find **Jacket #8**. [#8](https://ordinals.com/inscription/42713f393a35faaddf5d173cfef61673437c483de9a31f5847f0b3e8bd9df0a5i0) 3. Copy the address holding Jacket #8 and confirm that it matches: [bc1qn9szw2tfte4m2l7enhentvjpvnque932xr2m03](https://ordinals.com/address/bc1qn9szw2tfte4m2l7enhentvjpvnque932xr2m03) This step serves as a simple sanity check, helping you confirm that you are sending your Bitcoin to the correct lock address. We appreciate your caution and thank you for participating as an early beta tester! # Onboarding # Create Sidepit-Id Wallet To start using Sidepit, the first step is to create a Sidepit-Id with the Unisat Wallet extension in your browser. A Sidepit-ID is a Bitcoin address. For the current BETA, only Native Segwit addresses are valid. These are Bitcoin addresses that start with `bc1q`. ## UNISAT Install To begin, you’ll need the Unisat Wallet extension installed in your browser. This wallet will allow you to hold and manage your Bitcoin, which you will then use to participate on Sidepit. 1. **Download the Unisat Wallet:**\ Go to the official Unisat Wallet download page:
Unisat Download Page

unisat.io/download Web Page

2. **Create or Import a Native Segwit Wallet:**\ Follow the on-screen instructions to create a new Unisat Wallet or import an existing one.
Creating Your Wallet

Creating your wallet for Sidepit

* If creating a new Unisat Wallet, the extension will generate a private key and recovery phrase for you. **Be sure to securely store these in a safe place.** * Ensure you select a **Native Segwit** address type, which typically starts with `bc1q`.
Native Segwit Wallet Creation

Selecting Native Segwit to ensure a bc1q address

Once your Unisat Wallet is set up and you have a Native Segwit `bc1q` Bitcoin address, you’ve successfully created your Sidepit-ID and are ready for the next step in the setup process. # Lock Bitcoin Once you have a Sidepit-Id, it's time to "Lock" some Bitcoin for trading. Locking Bitcoin is a two-step process that ensures you have trading funds available during the trading window. ## 1. Fund Your Wallet Before you can lock funds, you need to have Bitcoin in your Sidepit-ID wallet. 1. Open the Unisat Wallet or the wallet containing your Sidepit-ID. 2. Click on the **"Receive"** option and copy the displayed `bc1q` address. 3. Send Bitcoin (BTC) from any source (e.g., another wallet or exchange) to that address.
Funding Your Wallet

Funding your wallet for Sidepit

**Note:**\ Check the contract specifications for required collateral. We recommend locking an amount equal to the initial margin. For the Sidepit Private Beta, the initial margin requirement is 0.002 BTC, so LOCK at least 0.002 BTC to be safe. ## 2. Lock Bitcoin to Sidepit After funding your Sidepit-ID wallet, you’re ready to lock your BTC into the Sidepit system: 1. Send the desired amount of BTC from your Sidepit-ID wallet to the **SIDEPIT\_BETA1\_LOCK\_ADDRESS**: bc1qn9szw2tfte4m2l7enhentvjpvnque932xr2m03\
2. Sidepit will recognize your LOCK within approximately 5 minutes. At that time: * Your account will be created (if it’s the first time you are locking funds). * The locked BTC will be marked as **“pending”** until the next trading session. **Important:**\ When trading opens the following day, your locked funds will appear in your available balance, allowing you to begin placing trades. # Trading # Contract Specifications Welcome to the Forwards Contract Specifications page for Sidepit! ## Sidepit's USDBTC Forwards Contract Specifications: *** | **Contract Name** | USDBTC | | ---------------------- | ---------------------------------------------------------- | | **Contract Unit** | 500 USD | | **Price Quote** | Sats Per Dollar | | **Minimum Tick** | 1 SAT | | **Minimum Tick Value** | 500 Sats ( 0.000005 BTC) | | **Ticker Code** | USDBTCZ24 | | **Start of Trading** | December 20 2024 | | **End of Trading** | December 27 2024 | | **Trading Hours** | 6am - 6pm PT | | **Price Limits** | 25% Daily | | **Initial Margin** |

200,000 sats ( 0.002 BTC )
$200 worth of Bitcoin

| | **Maintenance Margin** |

100,000 sats ( 0.001 BTC )
$100 worth of Bitcoin

| # USDBTC ## Forward Price The forward price of Bitcoin is the price of Bitcoin at a date and time in the future. The difference between the spot price and forward price, the basis, covered in the [**traders education**](#forward-price). Sidepit L2 is for trading the forward bitcoin price of dollars ## USDBTC **USDBTCZ24** is the price of USD in Bitcoin on **December 27th, 2024, at 6 PM PT**. ### How Does It Work? Imagine you believe Bitcoin will drop from $100k to $80k by Christmas, you have .005 bitcoin, and wish to give a gift of $500 worth of bitcoin: You hedge at Sidepit: 1. **Buy 1 ($500 contract)** at 1000 (SATs per dollar) 2. **Sell 1 ($500 contract)** at 1250 (SATs per dollar) #### Profit Calculation: * 250 tics profit × 500 = 125,000 sats * 125,000 sats = 0.00125 Bitcoin * 0.00125 × $80,000 = $100 profit #### Results: * Starting BTC Balance: 0.005 BTC ($500 at $100,000) * Ending BTC Balance: 0.00625 BTC ($500 at $80,000) Success! You still have your $500 worth of bitcoin to give as a gift! ### What happens? **Buy 1 at 1000 Limit** This means that On December 27th at 6 PM PT: * You agree to **buy 500 USD** for 500,000 SATs. * You agree to **sell 0.005 BTC** for $500. Now you have an **open Long position** on USD. **Sell 1 at 1250 Limit** This means that On December 27th at 6 PM PT: * You agree to **sell $500 for 625,000 SATs** (1250 SATs per dollar \* 500 dollars) * You agree to **buy 0.00625 BTC** for $500. This closes your Long position and leaves you flat. ### Auto UnLock After Dec 27th your .00625 bitcoin account balance, will be unlocked back to your Sidepit-id wallet! **Visual:** Annotate an example trade on the trading interface at [Sidepit Trading View](https://app.sidepit.com/trading-view) to illustrate the process. # Order Types In the Beta version of Sidepit, only the following order types are supported: ## Supported Orders: * **Limit Orders:** Buy or sell orders at a specific price or better. * **Cancellations:** Cancel your active orders before execution. ## Limitations: * No market orders. * No stop orders. * No cancel/replace orders. **Visual:** Screenshot of the order entry interface, highlighting the **Limit Order** section. # Inverse Quotes ## Simplified Trading At Sidepit, we avoid unnecessary complexity by quoting directly in Bitcoin (or SATs). Here’s why this is better: ### Examples: * **Buy at 100k and Sell at 110k:** Profit = 0.09 BTC (9%). * **Sell at 100k and Buy at 90k:** Profit = 0.111 BTC (11.1%). Unlike other exchanges, we maintain **linear tic sizes** and use Bitcoin as the unit of account. This avoids the confusion of conversions into fiat currencies, ensuring clear and consistent calculations for profit and loss. *** ### Why Sidepit Chooses Transparency: 1. **We Educate:** Sidepit chooses to educate users to be sophisticated speculators. 2. **We Simplify:** We believe in transparency rather than obfuscating complexity. 3. **We Optimize:** Sidepit is designed for those who should be trading—not for attracting less-informed speculators. *** ### Standard Futures vs. Inverse Futures: While academic papers argue for the complexity of inverse futures, we simplify by quoting prices in Bitcoin or sats. This transparency ensures traders understand their positions fully. **Visual:** Comparison of profit and loss calculations for BTC vs. USD-quoted trades. # Margin Margin requirements on Sidepit ensure positions are collateralized effectively while avoiding unnecessary capital lockup. *** ## Initial and Maintenance Margins: * **Initial Margin:** A good faith deposit required to open a position (e.g., 0.002 BTC per $500 contract). * **Maintenance Margin:** The minimum collateral to keep the position open (e.g., 0.001 BTC). *** ## Day Trading vs. Carrying Positions: 1. **Day Trading:** Requires only the maintenance margin. 2. **Overnight Positions:** Reduce available margin by the initial margin requirement at the day’s end. *** ## Restricted Accounts: 1. If your balance drops below maintenance margin, your account becomes **restricted**: * Restricted accounts can only close positions. * Restrictions lift only after end-of-day settlements restore margin levels. 2. If losses exceed available margin, the account becomes **exit-only**, and only risk-reducing orders are accepted. **Visual:** Margin lifecycle diagram and screenshots from the [Sidepit Trading View](https://app.sidepit.com/trading-view) interface. # Positions Sidepit settles positions daily to ensure accurate adjustments to account balances. *** ## Example Settlement: * **Starting Balance:** 0.002 BTC (200,000 sats). * **Trade 1:** Sell 1 contract at 1000. * Closing print: 1010. * Profit: 10 tics × 500 = 5000 sats. * **New Balance:** 0.00205 BTC. *** ## Key Points: * Positions adjust based on closing prices. * Balances update daily, reflecting profits or losses accurately. **Visual:** Transaction flow with annotations showing settlement adjustments. # Auction (DLOB) Sidepit introduces a revolutionary **1-second auction system** to enhance fairness in order matching. *** ## Key Benefits: 1. Eliminates latency arbitrage for those with unfair access advantages. 2. Democratizes HFT and MEV, rewarding traders with better price speculation skills. *** ## Measure of Success: Unlike typical exchanges, Sidepit measures success by reducing variance over time rather than instantaneous spreads. This ensures resilience and consistent liquidity, especially during volatile periods. **Visual:** Auction process interface with annotated features emphasizing transparency. # Forward Price What is the Future price. How is the simulated future price calculated? ## Bitcoin Future Price The simulated future price of Bitcoin is displayed on the trading screen.

Bitcoin Future Price

The current price of Bitcoin, shown inside the clock, is known as the SPOT or CASH price.

Bitcoin Spot Price

{% hint style="info" %} The future price represents the price of Bitcoin at a future date, based on the current Spot price. {% endhint %} ### How does this work? *If spot price is $60,000 what is the expected price of bitcoin 6 months from now?* The expected value of Bitcoin is calculated from the current $60,000 spot price. $$ E(Bitcoin) = E($BTCUSD) = E($60,000) $$ **What will be the value of $60,000 in 6 months?** To find out, take $60,000 and multiply it by the risk-free interest rate. If the interest rates are at 10%, then: $$ E(60,000) = 60,000 \* (1 + 0.10/2) = 63,000 $$ **Thus, the expected future price is $63,000.** ### Basis / Cost of Carry The difference between Futures and Spot prices is known as the Basis, which reflects the cost of carrying Bitcoin. **60,000 - 63,000 = -3,000** The cost of holding bitcoin for six months in our scenario is $3,000. This cost arises from the potential $3,000 in lost risk-free interest compared to holding US dollars. ### No Arbitrage Pricing Model 1. **No Arbitrage Pricing Model (NAPM)**: * The NAPM is a fundamental concept in finance that ensures there are no risk-free profits available without investment. * It prevents arbitrage opportunities by ensuring that mispricings are corrected over time. * If an asset can be bought or sold at different prices in different markets, arbitrageurs can exploit these price differences to make risk-free profits. 2. **Scenario**: * You have a guaranteed opportunity to buy Bitcoin at $63,000 in 6 months. * If the current market price of Bitcoin is below $60,000, you can: * Borrow dollars, pay 10% interest. * Sell the future price. * Buy the spot price. * At expiration, you receive $63,000, but the interest cost is less than $3,000. This results in a free profit! * Conversely, if the current market price of Bitcoin is above $60,000, you can: * Borrow Bitcoin. * Sell it for dollars. * Earn 10% interest. * Buy the future price at $63,000. Again, this results in free profits! 3. **No Arbitrage Theory**: * The theory asserts that risk-free profits should not exist. * If the current price of Bitcoin is $60,000, the future price must indeed be $63,000 to eliminate any arbitrage opportunities. * Markets should correct mispricings over time, ensuring no risk-free profits persist indefinitely. Remember to consider transaction costs, liquidity, and real-world factors when implementing arbitrage strategies. While markets are not always perfectly efficient, true risk-free profits are rare. 🚀📈 ### Future Price of Bitcoin: A Reflection of the Present #### Key Point {% hint style="info" %} The future price of Bitcoin is intrinsically tied to its current price. In other words, trading Bitcoin’s future price is essentially equivalent to trading its spot or cash price. {% endhint %} #### Understanding the Dynamics 1. **Delta of 1 for Futures Prices**: * Unlike options prices, which follow complex non-linear formulas relative to the spot price, futures prices exhibit a straightforward relationship. * Futures prices have an **essentially Delta of 1**. This means that for every $1 movement in the spot price of Bitcoin, there should be an equivalent $1 movement in the futures price, adjusted for interest over the specified period. 2. **Future Price vs. Anticipated Value**: * The future price of Bitcoin does **not** directly reflect the anticipated increase or decrease in its intrinsic value. * Instead, it represents the **current price of Bitcoin plus the expected cost of holding Bitcoin until the future date** specified in the futures contract. 3. **Market Expectations**: * When the market anticipates that the price of Bitcoin will increase in the future, the current spot market price already incorporates that expectation. * This accounting includes considerations for costs (such as storage or financing) and prevailing interest rates. #### Speculating on Bitcoin Prices * Trading forward contracts allows investors to speculate on the **current price of Bitcoin** by considering its future value. * By understanding this relationship, traders can make informed decisions based on market dynamics and expectations. ### Bitcoin L2 Sidepit * The Bitcoin L2 Sidepit is a platform for trading the future value of dollars in Satoshi terms (one hundred millionth of a Bitcoin). * $USDBTCZ24 is the ticker symbol for the USD priced in Bitcoin for December 2024, with 'Z' denoting December. * When the $USDBTC is trading at 1587, it equates to a Bitcoin price of $63,012. ``` 1587 Sats Per Dollar = 0.00001587 Bitcoin Per Dollar 1 Dollar / 0.00001587 = $63,012 ``` Using the calculator on the trading screen will give you the same result.

Calculator from Dollars in Sats to Bitcoin in Dollars

{% hint style="info" %} 100 million divided by USD price in Sats, equals Bitcoin Price in USD **100,000,000 / 1587 = 63,012** {% endhint %} ## Last Price is Future Price In conclusion, the future price displayed is a simulated calculation derived from the current bitcoin reference price and serves as an approximate estimate of the USD Sidepit future prices when expressed in dollars per bitcoin. {% hint style="info" %} **When trading on Sidepit, it is essential to compare the Price (Last, Limit, Bid/Ask) with the simulated future price, rather than with the current price of bitcoin.** {% endhint %}

Last Price

Limit Price

Bid/Ask Price

# Trading App Glossary Discover the Purpose of Each Module in Our Beta Trading App

Sidepit Beta Trading App

**Ticker - USDBTCZ24:**\ "This unique ticker flips the standard BTCUSD format, focusing on USD traded for BTC in futures contracts. Unlike typical BTCUSD Ticker symbols, USDBTCZ24 indicates a reverse setup: you’re trading USD for Bitcoin, giving you direct exposure to BTC’s value changes against USD. Perfect for those targeting Bitcoin accumulation or hedging USD value.”\ \ **Sats Per Dollar:**\ “Sats/$ shows the value of one U.S. dollar in satoshis (1 BTC = 100 million satoshis), allowing you to see how many sats each dollar buys. This rate complements the standard $BTCUSD price, typically seen by Bitcoiners and traders, which is displayed in the row below. It’s perfect for tracking BTC’s value in precise, smaller units.”\ \ **Change:**\ “This displays the price change since the start of today’s trading session, showing the performance in sats/$. A positive or negative value here indicates how much the price has moved in satoshis per dollar, giving a quick view of market momentum on Sidepit's exchange”\ \ **Volume:**\ “This shows the total trading volume for today’s session, measured in satoshis (sats). It reflects the overall activity on Sidepit's exchange, giving insight into the day’s market participation and liquidity in BTC’s smallest units.”\ \ **High:**\ “This shows the highest price recorded in sats/$ for today’s trading session. It indicates the peak value in satoshis per dollar, giving a snapshot of the session’s highest trading level on Sidepit's exchange."\ \ **Low:**\ “This shows the lowest price recorded in sats/$ for today’s trading session. It highlights the minimum value reached in satoshis per dollar, offering a quick view of the session’s lowest trading point on Sidepit's exchange.”\ \ **Market:** \ “This shows the current market price on Sidepit's exchange, expressed in sats/$ — the number of satoshis one U.S. dollar can buy.”\ \ **Spot Index:** (Coinbase Price Feed)\ “This represents the current spot price of Bitcoin in the traditional $USDBTC format, sourced from an external feed. It allows for direct comparison between Sidepit’s sats/$ market prices and broader Bitcoin market prices, giving users a reference to evaluate trading opportunities." **Open Interest:** \ “This shows the total open interest on Sidepit's exchange, representing the cumulative number of outstanding contracts yet to be settled. Measured in sats, it gives insight into market activity and trader commitment, highlighting the level of engagement in open positions.”\ \ **Contract:**\ “This provides the specifications for the trading contract, representing a value of $10,000. It details the contract size, leverage, and terms, helping traders understand the full value and parameters of each trade.”\ \ **Quote:**\ “Why Sats per Dollar? This unique feature sets Sidepit apart from other exchanges, quoting prices in sats/$ to emphasize a Bitcoin-centric view. By showing the value of each dollar in satoshis, Sidepit aligns with the Bitcoin standard, making it easy to track BTC’s value in its smallest units."\ \ **Tic Value:** \ "This indicates the value of each minimum price movement, or 'tick,' in the contract. Here, 1 tick equals 10,000 satoshis (0.0001 BTC). It helps traders gauge the monetary impact of small price changes, making it easier to calculate potential gains or losses as prices move.” \ **Expiry:**\ "This is the date when the contract expires, set for 12/27/2024. Upon expiry, all open positions will settle, and the contract will close, making it important for traders to monitor and manage their positions before this date." \ **BTC Locked:**\ "This shows the amount of Bitcoin a user has locked on Sidepit’s exchange, representing the available funds designated for trading. Users can manage their trading balance by unlocking funds as needed."\ \ **Trading Session: (Monday - Friday, 6 AM PST - 6 PM PST)**\ \ "This indicates the active trading hours on Sidepit’s exchange. Unlike 24/7 markets, Sidepit operates during regular weekday trading hours, allowing users to plan trades within these set times. The display will show **'Open'** in green text when the session is live and **'Close'** in red text when it is not." **Market Depth:**\ “This shows the range of buy and sell orders on Sidepit’s exchange, providing insight into liquidity at various price levels in **sats/$**. Strong market depth indicates a liquid market, where larger trades can occur with minimal price impact.” **Positions:**\ "This shows your active trading positions on Sidepit’s exchange, reflecting open contracts and their performance. Monitoring positions helps manage risk, track gains or losses, and make informed decisions about adjustments or exits."\ \ **Open Orders:**\ "This lists your active, unfilled orders on Sidepit’s exchange. Open orders are pending trades awaiting execution at specified prices, allowing you to manage and adjust your entries and exits based on market movements." **Closed Orders:**\ "This displays a history of your filled or canceled orders, showing completed trades and past activity on Sidepit’s exchange. Reviewing closed orders helps track trading patterns, performance, and provides insights for future trades." **Market Order: (*****Coming soon...*****)**\ “This executes your trade immediately at the best available price on Sidepit’s exchange. With Sidepit’s best-in-class trade execution, you no longer have to worry about slippage, achieving better prices compared to traditional BTC exchanges.” **Limit Order:**\ "This sets your trade to execute at a specific price you choose, allowing for precise entry or exit points. Limit orders are useful when you want control over the price but are willing to wait for market conditions to meet your target." **Sidepit ID:**\ "This is your unique identifier on Sidepit, linked to your personal Sidepit Bitcoin wallet address. Your Sidepit ID enables secure transactions and distinguishes you from other traders on the platform. Get your Sidepit Bitcoin Wallet for your browser here: \[]. ” **Buy:**\ "This places an order to buy USDBTC, effectively selling BTCUSD. Use 'Buy' when you expect Bitcoin’s value in USD to decrease, aiming to accumulate USD in this contract format." **Sell:**\ "This places an order to sell USDBTC, effectively buying BTCUSD. Use 'Sell' when you anticipate Bitcoin’s value in USD to increase, allowing you to accumulate BTC in this contract format."