Getting started

Quick start

Place your first sealed order, from connecting a wallet to withdrawing the fill.

This page walks through one order in the AAPLx/USDC market. Each step links to a page with more detail.

Before you start#

A Solana wallet that supports the Wallet Standard. Hardware wallets that connect over USB are not offered.
SOL for network fees, the bond on each sealed order (0.01 SOL by default) and the rent deposits for new accounts. The order ticket shows the market's current bond.
USDC to buy, or AAPLx to sell.

1. Connect your wallet#

Click "Connect wallet" in the top navigation and choose your wallet. See Connect a wallet.

2. Open the market#

Go to "Markets" and open AAPLx/USDC. The lull clock shows the current lull and counts down to the next open.

3. Deposit#

In the "Balance" panel, click "Deposit". Choose USDC to buy or AAPLx to sell, enter the amount and approve in your wallet. The amount appears as Free.

You can also deposit later. What matters is that your free balance covers the order when you reveal it. See Deposit and withdraw.

4. Seal an order#

The lull has to be in its commit phase, before the reveal window opens. In the "Order ticket":

Choose "Buy" or "Sell".
Choose "Market on open", or choose "Limit on open" and enter a "Limit (USD per share)".
Enter the "Amount": the USDC to spend for a buy, or the AAPLx shares to sell for a sell.
Click "Seal order" and approve the transaction.

Your wallet pays the bond, the rent for the ticket account and the network fee. The ticket then shows the order's commitment hash and "Reveal opens in …". See Place a sealed order.

5. Back up the order#

Go to "Account" and click "Export sealed orders". Keep the file private. Your order can only be revealed with the salt stored in this browser or in that file. See Back up sealed orders.

6. Reveal#

The reveal window runs from 30 minutes to 1 minute before the open by default. On a normal trading day that is 09:00 to 09:29 ET. In that window, go to "Account", find the order under "Sealed orders" and click "Reveal". Approve the transaction. The program locks the order amount in your balance. See Reveal.

If the order is not revealed before the window closes, it does not trade and its bond is forfeited.

7. After the open#

P_open is the first Pyth price published at least 30 seconds after the open (the default delay). Once it is captured, the book crosses. Lull's crank then claims every ticket into its owner's balance. Your fill and any unfilled remainder become Free, and your bond and ticket rent return to your wallet.

The fill appears under "Fills" on the "Account" page. If a ticket still shows "Claim", click it to settle it yourself. See After the open.

8. Withdraw#

In the "Balance" panel, click "Withdraw", choose the asset and amount, and approve. You can also leave the balance in the market for a later lull.