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: [https://docs.sidepit.com/beta/onboarding/create-wallet]. ”

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."