Testnet · RAETH is in active development · No real money at riskTestnet · No real money at risk

Opening RAETH

Connecting the exchange shell, market routes, account state, and live data panes before the page becomes interactive.

Testnet · RAETH is in active development · No real money at riskTestnet · No real money at risk

Swagger UI

User Guide Developer API API Reference

The Order Book

Every RAETH market is one central limit order book, and the terminal's ladder is a live picture of it: every resting order, each side's prices, and how deep the queue runs.

Reading the ladder

Asks (sellers) stack on top, bids (buyers) fill the bottom, and a pinned spread row sits at the vertical centre of the pane; each side shows the levels closest to the touch that fit (make the pane taller to see more). Three columns:

Price — the level's price. Binaries quote in cents on the YES grid; perps quote in dollars.
Size — the total quantity resting at exactly that price, summed across every order at the level.
Total — cumulative size from the spread outward: the quantity a market order would consume to trade through this level and every level closer to the touch.

Every row carries a depth bar sized to its cumulative Total — green on bids, red on asks — so relative depth reads at a glance. The pinned spread row shows the live spread (best ask − best bid) and the mid, computed by the same shared rule the header stats strip uses, so the two never disagree. A Book / Trades toggle swaps the pane body to the trade stream.

One book, two framings (binaries)

Binary contracts trade on a 1–99¢ YES-price grid; every contract pays 100¢ if the window resolves YES and 0¢ otherwise. There is no separate NO book: buying NO is selling YES. The ticket offers both framings — Buy YES and Buy NO — but both route into the same single book as a BUY or SELL of YES, and a NO price is the complement: buying NO at 40¢ is selling YES at 60¢.

Tip

Read depth through that lens — a wall of asks at 60¢ is sellers of YES, equivalently heavy NO demand at 40¢. Hovering a level shows the economics of taking it: cost, max win, max loss.

Price–time priority

Matching is strict price–time. The best price always fills first; within one price level, resting orders fill first-in-first-out. The Size at a level is therefore a queue, and your place in it is set by when you joined — cancelling and re-posting sends you to the back.

The level flash

When the size at a level changes — an order placed, cancelled, or filled there — the row flashes a brief directional tint (green on bids, red on asks) and fades back. It means exactly "this level just changed", nothing more. With prefers-reduced-motion enabled the ladder updates with no flash.

Click a level to trade

Clicking any row (or pressing Enter on it) prefills the order ticket with that price — join a queue or take a level without retyping.

Tick grouping

The Tick selector above the ladder groups levels into coarser price buckets (1¢, 5¢, 10¢, 25¢ on binaries), summing the size inside each bucket. It defaults to the instrument's own minimum tick, and your choice is remembered per market. Grouping only changes the display; orders always price on the real grid.

Perp ladders

Perpetual markets use the exact same ladder — same columns, depth bars, spread row, and priority rules. Only the units change: BTC-PERP quotes whole-dollar contract prices on a $1 tick, the spread and mid display in dollars, and Size displays in BTC.