trading / markets & reference prices
docs / trading / markets & reference prices

Markets & reference prices

Every price you trade at comes from a real order book.

Each instrument has an exact venue identifier, product type, quote unit, pricing rule and trading calendar. A stock prediction market and a stock perp are different instruments, even on the same ticker.

Price sources

MarketSourceUsed for
Stock odds and other prediction marketsPolymarket order book (CLOB)Fills at the BBO
Fast markets (BTC, ETH, SOL)Polymarket order book (CLOB)Fills at the BBO, with a live price chart
Stock perps (Phoenix)Phoenix order bookFills at the BBO; positions marked at the exit side
Perps (Hyperliquid)Hyperliquid order bookFills at the BBO; positions marked at the exit side