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Synthetic spot trading

LiveLast verified 4 Nov 2026

A spot trade buys a Synthetic token with dollars from your balance, without leverage: you gain when the price rises, lose when it falls, and can never be liquidated.

How it works​

You type a dollar amount and buy. The order fills at once at the current price and opens a position with its own entry price; each buy is a separate position. Closing a position sells all of it at the current price, one position at a time or all at once.

Spot tab of the trade panel with the Total Amount field, the Max button, quick amount chips, the slider and the Buy button
One spot position in My positions: amount, entry price, mark price, unrealized PnL and the Close button

Rules​

  • Fills. Buys and sells fill immediately at the current token price. There is no order book and no slippage setting.
  • Minimum. $0.10 per buy, fee included.
  • Maximum. Your open spot positions on one token can add up to the cap in the table below (counted after the open fee).
  • No liquidation. A spot position can fall in value but is never closed by the system before the token expires.
  • Fees. 1% of the amount when you buy, 1% of the value when you sell, and 8% of the profit if you sell above what you paid. See Fees.
ModeMax open spot per token
Slow$20,000
Fast$20,000
Flash$20,000
Crack$20,000
Mayhem$20,000

Formulas​

You pay AA at price P0P_0 and sell at price PP. Trade fee rate ff, profit fee rate pp.

M=A (1−f)V=M⋅PP0M = A\,(1 - f) \qquad V = M \cdot \frac{P}{P_0} Fclose=V⋅fΠ=V−A−FcloseR=V−Fclose−max⁡(0, Π)⋅pF_{close} = V \cdot f \qquad \Pi = V - A - F_{close} \qquad R = V - F_{close} - \max(0,\ \Pi) \cdot p

MM is what goes into the position after the open fee, VV its value when you sell, RR what comes back to your balance.

Worked examples​

Rates: f=1%f = 1\%, p=8%p = 8\%.

Price up 30%. You buy for $100 at $1.00 and sell at $1.30.

  • In the position: $100×0.99=$99.00\$100 \times 0.99 = \$99.00.
  • Value at $1.30: $99×1.30=$128.70\$99 \times 1.30 = \$128.70. Close fee $1.287.
  • Profit $128.70−$100−$1.287=$27.413\$128.70 - \$100 - \$1.287 = \$27.413. Profit fee $2.193.
  • You receive $125.22. Net: +$25.22.

Price down 20%. You buy for $100 at $1.00 and sell at $0.80.

  • Value: $99×0.80=$79.20\$99 \times 0.80 = \$79.20. Close fee $0.792. No profit fee.
  • You receive $78.41. Net: −$21.59.

Break-even. With both trade fees and no profit fee, you get your $100 back when 0.99×0.99×P/P0=10.99 \times 0.99 \times P / P_0 = 1, so the price has to rise by about 2.03%.

What happens when the token expires​

When the token's lifetime ends, every open position on it, spot and leveraged, is closed at the token's last price. The normal close fee and profit fee apply. The proceeds go to your balance. You do not need to do anything.

FAQ​

Can I sell part of a position? No. Closing sells the whole position. Buy in several smaller positions if you want to exit in steps.

Why did I receive less than the value shown? The value shown is before the close fee and the profit fee.

Spot or a 1x leveraged long? Both gain and lose the same way and neither has a liquidation price. Spot uses the spot fee rates and the spot cap; a 1x long uses the leverage rates and counts toward the leveraged long cap. See Leverage, longs and shorts for positions above 1x.