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Every market page has a ticket: the right rail on desktop, a docked bottom sheet on a phone. Orders fill instantly against updown’s own quote, and you can sell back to updown at any time before the window closes.

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The ticket

At the top of the ticket sit a Buy / Sell toggle and an order-type dropdown with Quick Buy, Market, and Limit. Team markets add a two-pill toggle for which team you are trading.

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Quick Buy

Quick Buy is the default and the fastest way in. The “win” figure walks updown’s price ladder, so it is slightly less than the amount divided by the headline price whenever there is a spread.

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Market

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Limit

The Limit form (inputs Contracts and Limit price, a “Submit as resting order only” checkbox, and Cost / Max payout readouts) is visible but not yet available. Its button is disabled and reads “Limit orders open with the order book”.
Do not plan on limit orders yet. Interval trades fill instantly against updown’s quote, and nothing rests in the Open orders tab until the order book ships.

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On a phone

The ticket is a bottom sheet with a Quick / Market / Limit toggle. Quick is two steps: tap Up 51¢ or Down 49¢, then hold a box on that side’s 1/1 / 5 / $10 row. Collapsed, the sheet shows Buy Up 51¢ / Buy Down 49¢ pills.

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Confirmation

After a fill, a Trade executed card appears for about two seconds:
  • Buys read “Bought 5.00∗∗Up∗∗@51¢"and"Pays5.00 **Up** @ 51¢" and "Pays 9.80 if Up wins”.
  • Sells read “Sold 4.90Up@49¢"and"+4.90 Up @ 49¢" and "+0.40 realized”, with ”· settling…” while the on-chain payout confirms.
  • A partial fill adds “Filled XofyourX of your Y — book was thin here”.

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How fills work

updown’s treasury is the counterparty on every trade. It quotes an Up ladder and a Down ladder for each window, six price levels deep, with about 20 contracts of net exposure per side per window. The order book on the market page shows it: Key facts about fills:
  • No trading fee today. The only cost is the spread: at least 2¢, widening near 50/50 as the window runs out of time. The win and Max payout figures already include it.
  • Partial fills happen when the ladder is thin. You are told what filled.
  • Automatic price protection. The app caps a buy at the shown price × 1.3 + 3¢ and floors a sell at the shown price × 0.7 − 3¢. If the average fill would breach that, the order is rejected instead: “Price moved to 55¢ (above your 40¢ limit) — order not filled.” Try again at the new price. There is no user slippage setting.
  • No minimum order beyond a positive amount. Quick Buy starts at $1.

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Selling back

You can close all or part of a position at any time before the window closes. You are filled at updown’s bid ladder, and the realized profit or loss (proceeds minus your average cost) is paid or collected immediately.
On the market page, find your side’s row in the Live Positions panel and hold the red Sell button until it reads “Selling…”. This sells that side’s entire position in the window.
You cannot sell more than you hold. Once the window has closed, selling is no longer possible; the position settles automatically.

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Errors you may see

The Live Positions panel marks your position at what updown would pay you right now (its bid). The Portfolio page marks at the midpoint. A fresh buy therefore looks roughly flat on Portfolio but slightly negative on the market page. The two converge when you sell or settle.