Trading App Glossary

Terms used in Sidepit's production trading and account views.

Market

Active forward — The dated USDBTC product currently selected by the exchange. Never hardcode its ticker.

Sats per USD — Sidepit's native price: the number of satoshis represented by one U.S. dollar. USD/BTC = 100,000,000 ÷ sats-per-USD.

Bid / Ask — Highest displayed buy price and lowest displayed sell price, with available size.

Last — Price of the most recent execution.

Open / High / Low / Close — Native sats-per-USD bar values. Because the quote is inverse, a Sidepit high is a familiar USD/BTC low.

Volume — Contracts executed for the displayed interval or session.

Open interest — Outstanding position quantity carried by participants.

DLOB — Sidepit's Distributed Limit Order Book: DLOB — one-second deterministic auctions. Within an epoch, price outranks speed.

Orders

Limit — An order with an explicit positive integer price. It can execute at that price or better, and unfilled quantity may rest.

Market — A native immediate-or-cancel order with no user-chosen limit price. It fills available opposite liquidity within the exchange price band in one auction and cancels all residual quantity.

Queued — Sent to an upcoming auction; not yet a fill.

Resting — Unfilled limit quantity visible in the order book.

Filled — Executed quantity.

Partial fill — Some market quantity executed and the immediate-or-cancel remainder was canceled, or some limit quantity executed while residual limit quantity remains.

Canceled — Quantity no longer eligible to execute.

Order ID — Complete public identifier {sidepit_id}:{timestamp_ns}. Do not truncate it in technical records.

Account

Sidepit ID — The owner's complete Native SegWit bc1q Bitcoin address. It is the account identity and unlock destination.

Agent ID — The complete bc1q address derived from an authorized trading agent's public key.

Locked balance / net locked — Bitcoin credited through the account's LOCK path, adjusted by on-chain inflows and outflows.

Available margin — Current sats available for orders or an owner unlock, subject to the server's final rules.

Initial margin — Contract requirement used when adding exposure.

Maintenance margin — Published lower margin threshold used by ongoing risk checks.

Restricted — Account state in which only risk-reducing activity is accepted. Sidepit does not choose or submit an exit order for the trader.

Reduce-only — Trading direction imposed on a restricted account. A long position may sell toward flat; a short position may buy toward flat. An order that increases exposure is rejected.

Position — Net contract exposure. For USDBTC, BUY adds USD exposure; SELL increases Bitcoin-price exposure.

Average price — Current position's average entry mark. It resets when daily settlement folds P&L.

Execution fee — 125 sats per filled contract per side per execution, deducted by the engine and reported in realized_fees.

Unlock

PENDING — Request received but not yet resolved by account and margin rules.

RESERVED — Amount reserved from available funds exactly once. The request is now irrevocable.

PROCESSING — Custodian payout in progress; a Bitcoin transaction ID is attached when available.

COMPLETED — On-chain outflow reconciled with the account reservation.

REJECTED — Request failed a named verification, identity, duplicate, or margin check.