> For the complete documentation index, see [llms.txt](https://docs.sidepit.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sidepit.com/use-sidepit/beta/trading.md).

# Trading

Trade Sidepit's dated Bitcoin-margined USDBTC forwards.

Sidepit trades dated USDBTC forwards in **DLOB — one-second deterministic auctions**. Prices are integer satoshis per USD, margin and P\&L are in satoshis, and each contract represents the USD exposure published by the active contract.

Before placing an order:

1. Read the active ticker, exchange state, schedule, contract size, price bands, and margins from the exchange. Never reuse a ticker or amount from an old session.
2. Understand the inverse quote: `USD/BTC = 100,000,000 ÷ sats-per-USD`.
3. Review available margin, working orders, current position, and execution fees.
4. Choose limit or market behavior deliberately.

Sidepit charges an **execution fee** of **125 sats per contract per side per execution**. The engine deducts it on every fill and publishes accumulated values in `realized_fees`.

Start with:

* [Contract Specifications](/use-sidepit/beta/trading/contract-specifications.md) for the current ticker, contract size, margins, schedule, price bands, and expiry;
* [USDBTC](/use-sidepit/beta/trading/usdbtc.md) for exposure direction;
* [Buy, Sell, and Cancel](/use-sidepit/beta/trading/buy-sell-cancel.md) for the web workflow;
* [Order Types](/use-sidepit/beta/trading/beta-orders.md) for limit and market behavior; and
* [Margin and Execution Fee](/use-sidepit/beta/trading/margin.md) before choosing size.

{% hint style="warning" %}
A queued order is not a fill. Resolve it through the order and rejection views before repeating or replacing it.
{% endhint %}


---

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