Price markets overview
Understand v24 price positions, settlement, and execution conditions.
Trade a price direction
You open a long or short price position against a single-collateral pvpAMM pool. A long benefits from a rising oracle price and a short from a falling one, but funding, fees, and pool-level psi also affect settlement. LPs provide the backing and take counterparty risk.
These pages describe committed v24 contracts. A feature is usable only when your deployment publishes the matching Pool, Router, Account, Lens Set, and product integration. Older v22/v23 interfaces are not interchangeable with v24.
Before you trade
Check the collateral, oracle status, leverage, position mode, current fee quote, position bounty bond, and liquidation requirements. Use the matching quote immediately before execution and inspect its permission and reason fields.
v24 supports Separate, Full, CrossSeparate, and CrossFull modes. Full modes require explicit merge guards. A margin account shares supported same-collateral Cross risk across pools; it does not combine backing across chains or guarantee a pool's payout.
Settlement and funding
A successful close can pay directly, reserve collateral in settlement escrow, or create a deferred mass claim when an authorized deferred exit is required. A negative settlement can consume debtor coverage and Safety Reserve, with any remainder recorded as uncovered loss.
Funding is trader-to-LP and can be disabled by configuration. When enabled and eligible LP value exists, rates depend on utilization and long/short skew. The crowded side can pay more; the other side's rate is floored at zero, so it does not receive a transfer from crowded-side traders. Funding can reduce position equity even if the oracle price is unchanged.