> ## Documentation Index
> Fetch the complete documentation index at: https://docs.liquid.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Spot trading

> Buying and selling the asset itself on Liquid: how spot differs from perps, how to place a spot order, and what it costs.

On spot, you buy the asset itself rather than a contract that tracks its price. There is no multiplier, no funding payment, and nothing to be liquidated. What you hold is yours until you sell it.

## Spot vs. perps

| | Spot | Perps |
| - | - | - |
| What you hold | The asset | A contract that tracks the price |
| Direction | Buy, then sell what you hold | Long or short |
| Multiplier | None | Up to 40x |
| Funding | None | [Hourly](/trading/funding-rates) |
| Liquidation | Can't be liquidated | [Possible](/trading/liquidations) |
| Order types | Market and limit | Market, limit, trigger, [TWAP](/trading/twap), [TP/SL](/trading/take-profit-stop-loss) |
| Liquid's fee | None | 5 bps on every fill |

## Find spot markets

<Tabs>
  <Tab title="iOS">
    Go to **Home → Markets**. Both **Perps** and **Spot** start selected, so tap **Perps** to turn it off and leave only **Spot**.
  </Tab>

  <Tab title="Web">
    Open search (**⌘K**) and use the **Spot** tab, or use the spot tabs on your watchlist.
  </Tab>
</Tabs>

Spot markets are quoted in USDC and listed under the asset's own ticker.

<Frame caption="Turn off Perps in Markets to list only the spot markets">
  <video src="https://mintcdn.com/liquidmax/vRkVf3WURN6oVZQz/videos/trading/find-spot-market.mp4?fit=max&auto=format&n=vRkVf3WURN6oVZQz&q=85&s=7d46321837e636372ad44db30ec4073a" autoPlay loop muted playsInline width="375" aria-label="On Home, open the Markets tab. The list shows spot and perps together. Tap Perps to turn it off, and the list narrows to the spot markets: SOL/USDC, HYPE/USDC, ETH/USDC and BTC/USDC, each with its price and 24-hour change." data-path="videos/trading/find-spot-market.mp4" />
</Frame>

## Buy spot

Buying spends your USDC balance. Place a market or limit order. The minimum order is \$10.

<Tabs>
  <Tab title="iOS">
    Open the spot market and tap **Buy** (a perp market shows **Trade** instead). Choose **Market** or **Limit**, enter the amount, and confirm.
  </Tab>

  <Tab title="Web">
    Open the spot market, choose **Market** or **Limit** in the order panel, enter the size, and place the order.
  </Tab>
</Tabs>

<Frame caption="Enter an amount and buy BTC with your USDC">
  <video src="https://mintcdn.com/liquidmax/vRkVf3WURN6oVZQz/videos/trading/buy-spot.mp4?fit=max&auto=format&n=vRkVf3WURN6oVZQz&q=85&s=a5236007b4efe01cb8612d1f11ddb774" autoPlay loop muted playsInline width="375" aria-label="Type 500 on the keypad, tap Buy BTC, and the order is placed: the confirmation shows the entry price, a total of $500.00 and the direction, Buy BTC/USDC." data-path="videos/trading/buy-spot.mp4" />
</Frame>

## Sell spot

You can only sell the amount of that asset you already hold. The **10%**, **25%**, **50%** and **100%** chips are percentages of that holding.

On iOS, your spot holdings appear under **Spot** in your positions on **Home**.

<Steps>
  <Step title="Open the holding">
    Tap the holding on **Home**, then tap the expand arrow on the chart.
  </Step>

  <Step title="Choose Sell Position">
    Tap **Sell Position** to return to the market with selling selected.
  </Step>

  <Step title="Place the order">
    Tap **Sell**, enter an amount or tap a percentage chip, then tap **Sell BTC**.
  </Step>
</Steps>

<Frame caption="Sell half of a BTC spot holding">
  <video src="https://mintcdn.com/liquidmax/vRkVf3WURN6oVZQz/videos/trading/sell-spot-holding.mp4?fit=max&auto=format&n=vRkVf3WURN6oVZQz&q=85&s=7d880b09694cf98dcbae27a952c922bd" autoPlay loop muted playsInline width="375" aria-label="On Home, open the BTC/USDC spot holding, tap the expand arrow on the chart, and tap Sell Position. Back on the market, tap Sell, tap the 50% chip, and tap Sell BTC. The confirmation shows the amount and the direction, Sell BTC/USDC." data-path="videos/trading/sell-spot-holding.mp4" />
</Frame>

See [Managing positions](/trading/managing-positions) for closing perp positions.

## What spot costs

Liquid adds no fee of its own on spot. You pay the tiered rate, starting at 0.070% taker and 0.040% maker. Spot volume counts double toward your fee tier. See [Fees](/trading/fees).

## What spot doesn't support

* Take profit or stop loss
* Trigger orders
* TWAP
* Reduce-only
* [Paper trading](/trading/paper-trading)

<Note>
  If your account isn't unified, spot sits in a separate **Liquid Spot** balance. See [Move funds](/account/move-funds).
</Note>


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