> 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/users-and-agents/trading-app-glossary.md).

# 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.


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