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TIP 1: Spot

TIP 1 · SPOTunstable
Base against quote, settled as a direct swap of balances — no position, no leverage, no funding.
buyerbasequotesellerbasequotebasequoteno position · no funding

Spot is the simplest instrument type: trading the base asset directly against the quote asset, with no position, leverage, or funding.

Model

  • Trades settle on the spot sub-account.
  • A fill is a direct swap of balances: the buyer's quote balance decreases and base balance increases; the seller's the reverse. There is no position object — balances are the state.
  • Settlement is immediate and atomic within the block, like all TxFlow clearing. See Clearing & Settlement.

Naming

Spot instruments are named BASE/QUOTE — for example BTC/USDC. Perpetuals use a hyphen (BTC-USDC), so the separator distinguishes the two instrument types.

Settings

Spot uses the common instrument settings with no type-specific extension. The ones that matter for spot:

  • Base & quote asset — the two assets being swapped.
  • Size & price precision — the size precision and price tick.
  • Maker & taker fee rates — base fees (subject to the user's fee tier).
  • Order-size bounds — the minimum order size and the maximum size for a single limit or market order.

There is no margin, leverage, funding, or position mode for spot. Perpetual type, margin tiers, and funding settlement do not apply.

Orders

Spot uses the shared order model: market / limit orders with GTC, IOC, and ALO time-in-force. GTD is rejected on spot, as are trigger (TP/SL) orders and reduce-only — those are perpetual concepts.