Markets

An exchange with no exchange in the middle

Perpetuals and spot on native order books, settled in the same transaction that placed the order.

Paxeer X runs the order books itself. Your order matches, your margin moves and your position updates inside your transaction, with a receipt back in milliseconds. There is no venue account, no withdrawal queue and no custody risk.

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If you trade for a living, you know the two tolls of a centralized venue. Your assets sit in someone else's custody, and a withdrawal is a request. Paxeer X runs perpetual futures and spot markets as part of the network. You place an order from your own account, it matches in the transaction that carries it, and free margin returns to your main balance the instant you ask.

The result feels like a professional venue without the counterparty. Margin is a transfer to your own sub-account, visible on PaxScan like any balance. Funding, liquidation and auto-deleveraging run as open, auditable rules, and each perpetual market carries its own insurance account.

Who trades here

The trading agent
Place, cancel and manage positions with the same session key and limits as the rest of your stack. Every fill comes back as a receipt the agent acts on immediately.
The market maker
Quote both sides and know within about a second that your fills are final. No reorganizations, no stuck cancels, no venue outage leaving quotes exposed.
The treasury hedging exposure
Open a short against inventory from the company account, with limits enforced by the network and a statement that proves the hedge to the auditor.

A hedge in one transaction

  1. 01

    Deposit margin

    A treasurer moves 200,000 USDC to the company's margin sub-account. It is still the company's balance, just earmarked.

  2. 02

    Open the short

    The treasurer shorts ETH perpetuals against inventory. The order matches in the same transaction and returns the fills.

  3. 03

    Watch funding

    Funding settles on the market's interval, to and from the position. Nothing to claim, nothing to miss.

  4. 04

    Close and withdraw

    Weeks later the short is closed. The gain settles in the same transaction and free margin returns to the main account.

What a market gives you

  • Perpetuals with margin, funding and liquidation
  • Spot order books with limit and market orders
  • Margin deposit and instant withdrawal of free margin
  • An insurance account for every perpetual market
  • Open market creation with a named administrator
  • Trading limits enforced by session keys and budgets
Your margin is your balance. It never stops being yours.

Common questions

Related

Oracles
Prices your contracts can trust at the speed you trade
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Session keys
Give an agent authority you can take back
Read more
Accounts
One account for everything you own on the network
Read more
Agent functions
Building blocks for strategies that run themselves
Read more

Trade from your own account

Connect a wallet or give an agent a trading limit and place your first order.

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