2026-07-10 · Limitless · 4 条相关讨论
Hey, what's going on with the Underdogs market? There are no limit orders, and after buying at market price, the price of the purchased bet loses about 30%
Hey, what's going on with the Underdogs market? There are no limit orders, and after buying at market price, the price of the purchased bet loses about 30%
I'll take a look
I'll take a look
Nothing is broken and no funds are lost. What this looks like is you bought deep longshot positions and the order book is very thin. When you hit buy at market you fill against the thin liquidity, the lowest ask sits much higher than the midpoint, then your purchased position gets marked back to the midpoint, which looks like an instant 30% loss. So, it is the spread, not a real loss and not realized unless you sell. In the future, set limit orders, set them near the last trade and wait for them to fill. Also, if you set limit orders inside the spread then you can earn LP rewards. If you are looking to sell your current position, look at posting a sell limit and waiting for the order to fill.
Nothing is broken and no funds are lost. What this looks like is you bought deep longshot positions and the order book is very thin. When you hit buy at market you fill against the thin liquidity, the lowest ask sits much higher than the midpoint, then your purchased position gets marked back to the midpoint, which looks like an instant 30% loss. So, it is the spread, not a real loss and not realized unless you sell. In the future, set limit orders, set them near the last trade and wait for them to fill. Also, if you set limit orders inside the spread then you can earn LP rewards. If you are looking to sell your current position, look at posting a sell limit and waiting for the order to fill.
Thanks for the clarification, I had the same problem with a market order, now it's clear to me.
Thanks for the clarification, I had the same problem with a market order, now it's clear to me.