How ODDS works

Overview

ODDS lets you go long or short on assets that have real, moving prices but no derivatives market of their own: memory chips, GPUs, lithium, uranium, electricity and more. Every market is perpetual. It never expires, so you can hold a position for a minute or a month.

Your email is your account: sign in with it and you are in. No wallet is needed to look around or to trade on paper, because opening and closing a position never touches the chain. Connect a wallet only when you want to deposit or withdraw, from the funds panel. Your balances, positions and profit or loss live in our ledger, but the money itself does not: your collateral is held in an on-chain escrow contract on Robinhood Chain and stays there until you withdraw. Every deposit into it and every payout out of it is a transaction you can open in the explorer.

Markets and indexes

Each market follows an index. The trade page shows what every index tracks under the chart. There are three kinds:

• Commodity proxies. Uranium, lithium, cobalt, nickel and electricity follow a listed proxy for that material: the sector fund, or the company that produces most of it. Published spot prices for these materials print once a day, which draws as a flat step; a listed proxy moves through the session and carries years of history behind it.
• Sector funds. Solar and hydrogen follow exchange traded funds that hold the companies in that sector. These move every few seconds while US markets are open.
• Company proxies. Hardware markets such as RAM, GPU, SSD or smartphone follow the share price of the leading maker of that product, for example Micron for RAM or Nvidia for GPU. Outside exchange hours most of them switch to a 24/7 tokenized version of the same stock.

Prices are sampled every few seconds and stored. If a source stops updating for more than 12 hours, trading on that market pauses until it comes back. Nothing is closed or liquidated on a stale price.

Opening and closing

Pick a market, choose long or short, enter your margin in ETH or USDG, and set leverage from 1x to the market maximum. Position size is your margin in dollars times the leverage.

Every fill includes a spread: 0.2 percent on fund and company markets, 0.5 percent on commodity markets. A long opens slightly above the index and closes slightly below it. A short is the reverse. On top of the spread, every fill also carries the trading fee described below. There is no funding payment.

Close a position any time from the Open positions panel. Profit or loss settles instantly into the collateral you used. A position can only be closed once.

Fees

ODDS charges two things, and only two. No management fee, nothing hidden.

The trading fee is 0.03 percent of the notional size of your position, charged once when you open and again when you close. That is half of what a typical exchange charges as taker, usually 0.05 to 0.06 percent per side. It accrues to the house and is taken out of the escrow by its own transaction once it passes a threshold, so it never leaves quietly.

Leverage and liquidation

• Maximum leverage is 5x on every market.
• Minimum margin is 5 dollars per position.
• A position is liquidated when its loss reaches 90 percent of the margin. Whatever is left, about 10 percent, returns to your balance.
• Your loss can never exceed the margin you put up. You cannot go negative.

The liquidation price depends on leverage. At 5x, a move of 18 percent against you triggers it. At 2x it takes 45 percent. The order ticket shows the estimated liquidation price before you confirm.

Liquidations are checked every few seconds against the latest sampled price, on every market. Outside the trading hours of the exchange an index follows, its price stands still and nothing is liquidated on it.

ETH and USDG

You hold two separate balances, ETH and USDG. They never mix. USDG is a dollar stablecoin, so one USDG is always one dollar of margin. ETH margin is valued at the current ETH price when you open, and profit or loss is paid back in ETH at the price when you close.

That means an ETH collateral position carries ETH price risk on top of the market you are trading. If you want a plain dollar bet, use USDG.

Deposits

1. Connect your wallet from the funds panel and sign the message that links it to your account. It costs nothing and sends no transaction. The site adds Robinhood Chain to your wallet if needed.
2. Choose ETH or USDG and an amount, then confirm the transfer in your wallet.
3. We read the transaction from the chain, check that it went to your deposit address, and credit your balance. This takes a few seconds.
4. Shortly after, your deposit is moved into the escrow contract with a second transaction that names your account. That one is listed as "Escrow deposit" in your history, with its own hash.

If you closed the tab before the credit landed, paste the transaction hash into the claim box on the deposit panel. Every hash can only be credited once. Deposits sent from a wallet other than the one linked to your account are held until that wallet is linked to one.

Only ETH and USDG on Robinhood Chain are accepted. Tokens sent from other chains cannot be recovered.

Withdrawals

Enter an amount and an address, and the escrow contract pays it out on chain. Most payouts leave within seconds and you get the transaction hash right away. The payout carries a reference to the withdrawal it settles, so the row on your screen and the event on the chain are the same thing seen twice.

Payouts above 2,000 dollars per wallet per day are queued for a manual check before they are sent. The amount is reserved from your balance while it waits. If a payout fails for any reason, your balance is restored in full.

Charts

Charts open on 24H and run to 30D. Every market carries a year of real candles downloaded from the index it follows, with our own samples layered on the recent end, so the longer ranges show the actual trajectory instead of starting the day this exchange did.

No point is ever invented. An interval with no quote stays empty and the line joins the points that exist, which is why a chart can have gaps at night and at the weekend. Our own sub-minute samples are thinned to one price an hour after 30 days; the downloaded history is kept.

Risks and limits

• Leveraged trading can lose your entire margin quickly. Trade with money you can afford to lose.
• Proxy markets follow a company or fund, which can move for reasons unrelated to the asset.
• Index sources are third party and can go down. When that happens the affected market pauses rather than trading on bad data.
• Positions are settled against the house. Payouts come out of the escrow contract and depend on it holding enough for the whole book.
• ODDS is not affiliated with Robinhood Markets, Inc.