🌐Trading on Libera
Desktop-First Trading Terminal
Libera's interface is built specifically for professional traders who demand institutional-grade tools and real-time data.
TradingView Integration
Our full charting suite includes over 100 technical indicators including RSI, MACD, Bollinger Bands, moving averages, volume profiles, and dozens more. Drawing tools enable technical analysis with trend lines, Fibonacci retracements, support and resistance zones, channels, and custom shapes. Multi-timeframe analysis lets you view everything from 1-minute to 1-month charts simultaneously, identifying trends across multiple time horizons. Custom layouts can be saved so your workspace configurations persist between sessions. Price alerts notify you when markets hit your specified levels, ensuring you never miss opportunities. Replay mode enables backtesting strategies on historical data to validate your approach before risking capital.
Live Orderbook Depth
The visual depth chart shows liquidity distribution at a glance, letting you identify where large orders sit. Bid/ask spread monitoring provides real-time spread alerts when conditions change. The liquidity heatmap identifies key support and resistance zones formed by orderbook clustering. Order flow visualization lets you watch large orders hit the book in real-time, revealing institutional activity. The market depth ladder displays price levels with volume and cumulative size for precise execution planning. Spread tightening indicators show you when to enter or exit based on liquidity conditions.
Real-Time Updates with Sub-Second Latency
Prices update every 100 milliseconds for all markets, ensuring you trade on the freshest data. Balances reflect immediately after trades execute, never leaving you wondering about your capital. Positions show live P&L updates as prices move, letting you track performance in real-time. Open interest tracks total positions across all markets as they change. The trade feed displays every trade as it happens, providing market pulse information. Orderbook changes appear instantly as depth shifts in real-time, showing you when liquidity moves.
Data-Dense Dashboard
Multi-panel layouts are optimized for 1440p and higher displays, taking full advantage of screen real estate. Customizable widgets let you arrange your workspace exactly how you want it. The market scanner monitors 50 or more markets simultaneously, helping you spot opportunities across the platform. Quick trade panels enable one-click order entry without switching contexts. The position manager shows all positions with live P&L in a single view for instant portfolio awareness. The order manager lets you cancel, modify, or add to orders instantly without navigating menus. Collapsible sidebars maximize chart space when needed for focused analysis.
Portfolio Suite
The unified dashboard aggregates all trading activity in one place. Active positions display with live P&L tracking as markets move. Open orders show with one-click cancel or modify functionality for rapid adjustments. Complete trade history includes filters and search to analyze past performance. Performance analytics break down results by timeframe to identify your strongest strategies. Win rate and ROI tracking help you quantify your edge. Realized versus unrealized P&L separates locked gains from paper profits. Position size distribution reveals concentration risk in your portfolio. Best and worst trades analysis highlights what's working and what isn't.
Market Discovery Engine
Verbose filtering enables sorting by multiple criteria simultaneously. Volume filters let you choose low, medium, high, or institutional-level activity. Volatility filters select calm, moderate, high, or extreme price action markets. Expiry filters show markets closing in the next hour, today, this week, or this month. Category filters organize crypto, stocks, sports, and metals. Liquidity depth filters ensure markets can handle $10k, $50k, $100k or larger orders. Spread width filters select tight markets under 8% or wide markets over 15%. Open interest filters show growing, stable, or declining position counts indicating market sentiment.
Smart sorting provides instant organization. Most active markets are sorted by trade count showing where traders are focused. Highest volume markets are sorted by dollar value showing where serious capital flows. Tightest spreads are sorted to find the best conditions for market makers. Most volatile markets are ideal for scalpers seeking price action. Newest markets show early opportunities before prices stabilize. Expiring soon markets highlight time-sensitive opportunities.
Custom watchlists enable unlimited organization tailored to your strategy. Real-time alerts trigger on price or volume changes you specify. One-click trading from watchlists eliminates friction between idea and execution. Shared watchlists let you collaborate with other traders.
Wallet Discovery & Leaderboards
Finding top traders is easy with multiple sorting options. Sort by win rate to see the percentage of profitable trades over time. Filter by strategy type including scalping, swing trading, or position trading approaches. View by category separating crypto traders from sports bettors. See performance over 7 days, 30 days, or all-time to match your time horizon. Check average position size to find traders at your capital level. Review risk-adjusted returns that account for volatility and drawdown.
Category leaderboards separate specialists from generalists. Crypto traders are ranked separately for BTC, ETH, and altcoin markets. Sports traders show separate rankings for NBA, NFL, and soccer markets. Multi-asset traders who diversify across categories have their own leaderboard. Market makers providing liquidity have dedicated rankings. Scalpers trading 15-minute to 1-hour timeframes compete separately. Swing traders focusing on daily to weekly markets have separate rankings. Position traders holding monthly markets are ranked independently.
Following and copying is seamless. One-click follow via Ligent starts copying a trader's positions. Auto-replicate trades in real-time mirror their activity to your account. Set copy limits and risk parameters to control exposure. Track copier performance to see how following is working for you. Earn revenue when others copy your trades if you're a top performer.
Understanding the Order Book
Libera uses a Central Limit Order Book (CLOB), the same system as Hyperliquid, dYdX, and traditional exchanges. This is fundamentally different from AMM-based prediction markets that use liquidity pools and bonding curves.
Example Order Book: "Will Bitcoin go UP this hour?"
SELL ORDERS (Users selling UP positions)
88.0¢ → 4,005 positions → $3,524 total ← Best Ask
88.6¢ → 4,557 positions → $4,038 total
89.2¢ → 5,300 positions → $4,728 total
Spread: 0.1¢ (0.11%)
Current Price: 88.0¢ UP / 12.0¢ DOWN
BUY ORDERS (Users buying UP positions)
87.9¢ → 4,605 positions → $4,048 total ← Best Bid
87.5¢ → 11,776 positions → $10,304 total
87.2¢ → 12,855 positions → $11,209 total
Total Liquidity: $45,851
Orderbook Depth: ±2% = $22kVisual Depth Chart: The depth visualization shows liquidity distribution on both bid and ask sides, helping you identify support and resistance levels formed by orderbook depth. You can spot large pending orders creating walls that may influence price action. Estimate slippage before trading by seeing how far your order will walk the book. Time your entries when spreads tighten, indicating better execution conditions.
How Positions Are Created
No Fixed Supply: Positions are minted on-demand when opposing orders match such that UP plus DOWN equals exactly $1.00. This is completely different from traditional markets with fixed share counts or AMMs with liquidity pools.
Three Trading Mechanisms:
1. Direct Transfer (No Minting): When Alice wants to sell 100 UP positions at 62¢ and Bob wants to buy 100 UP positions at 62¢, the positions simply transfer from Alice to Bob. No new positions are created in this case, just ownership changes hands.
2. Minting (Position Creation): When Alice wants UP at 62¢ and Bob wants DOWN at 38¢, notice that 62¢ plus 38¢ equals exactly $1.00. The system mints 100 new UP positions for Alice and 100 new DOWN positions for Bob. Total collateral of $100 is locked to back these positions. This is how new positions enter existence.
3. Burning (Position Destruction): When Alice wants to sell UP at 62¢ and Bob wants to sell DOWN at 38¢, the system recognizes they're unwinding complementary positions. Both position types are burned and removed from existence. The $1.00 of collateral per position pair is released back to the original holders.
Why This Works: Every position pair requires exactly $1.00 collateral, ensuring payouts are always fully backed and guaranteed. Price reflects market-determined probability, not artificial scarcity like fixed-supply tokens. Arbitrage prevents price manipulation because if UP plus DOWN doesn't equal approximately $1.00, profitable arbitrage opportunities exist that traders will immediately exploit to restore balance.
Order Types
Libera offers professional-grade order execution far beyond the basic market orders found on most prediction markets.
Market Orders execute immediately at the best available price, giving you instant fills. They may experience slippage on large orders as your trade walks up the orderbook. You'll pay a 0.25% trading fee on execution. Use market orders for small positions where speed matters, urgent execution when you need to enter or exit immediately, and news trading when every second counts.
Limit Orders execute only at your specified price or better, giving you complete price control. Your order waits in the orderbook until matched with a counterparty. You'll pay a 0.25% trading fee when the order fills. Use limit orders for price control when you have a target entry, passive trading where you're willing to wait, and overnight positions you want to accumulate slowly.
Stop Market Orders trigger a market order when price hits your stop threshold. This guarantees execution but the actual fill price varies. You'll pay a 0.25% trading fee on execution. Use stop market orders for hard stop losses where execution certainty matters more than price, emergency exits when you absolutely need to get out, and protecting against catastrophic losses where every fill matters.
Stop Limit Orders trigger a limit order when price hits your stop threshold. This gives you precise price control but execution isn't guaranteed if price moves too fast. You'll pay a 0.25% trading fee when matched. Use stop limit orders for stop losses with price control where you want to limit slippage, reducing slippage compared to stop market orders, and when you're willing to risk non-execution for better pricing.
Take Market Orders automatically exit at your profit target with a market order, giving you instant execution when your target is reached. This locks in gains during volatile moves. You'll pay a 0.25% trading fee on execution. Use take market orders for quick profit-taking when you want to secure gains immediately, momentum trading where price may reverse quickly, and when execution certainty matters more than getting the perfect price.
Take Limit Orders automatically exit at your profit target with a limit order, giving you better pricing than take market. The risk is the order may not fill if price spikes through your level. You'll pay a 0.25% trading fee when matched. Use take limit orders for patient profit-taking when you're willing to wait for your exact price, maximizing returns by avoiding slippage, and when you're okay risking non-execution for better pricing.
Scale Orders enter or exit positions gradually, breaking your large order into smaller chunks at incremental prices. This provides better average entry or exit pricing compared to market orders. You reduce market impact that would otherwise move prices against you. You'll pay a 0.25% trading fee per filled chunk. Use scale orders for building positions over time, implementing DCA (dollar-cost averaging) strategies, and large orders where you want to improve your average price.
TWAP Orders (Time-Weighted Average Price) break large orders into equal chunks executed at regular intervals over a specified time period. For example, you might execute every 2 minutes for 1 hour. This provides algorithmic execution that minimizes market impact and reduces slippage. You'll pay a 0.25% trading fee per chunk. Use TWAP for orders over $5,000, institutional-sized trading where market impact matters, and when you want to match market benchmark pricing.
Smart Order Routing automatically analyzes orderbook depth across all price levels. It routes your order through optimal price levels to get the best possible execution. The system combines market and limit orders intelligently for best results. It reduces slippage on large trades without manual optimization. Smart order routing is built-in and automatically applied to all orders over $1,000, ensuring you always get the best execution available.
Position Sizing
The formula for calculating positions is simple: Positions equals Dollar Amount divided by Price per Position.
Examples: If you invest $1,000 at 62¢ per position, you get 1,612 positions. If you invest $500 at 25¢ per position, you get 2,000 positions. If you invest $10,000 at 80¢ per position, you get 12,500 positions.
Profit and Loss Calculations: Maximum profit per position equals $1.00 minus your Purchase Price. Maximum loss per position equals your Purchase Price. These calculations make risk crystal clear before you trade.
ROI Examples: If you buy UP at 25¢ and it wins, you earn 300% ROI because you gain 75¢ profit on 25¢ cost. If you buy UP at 62¢ and it wins, you earn 61% ROI because you gain 38¢ profit on 62¢ cost. If you buy UP at 90¢ and it wins, you earn 11% ROI because you gain only 10¢ profit on 90¢ cost. Notice how cheaper positions offer higher ROI but lower probability, while expensive positions offer lower ROI but higher probability.
Understanding Liquidity
Liquidity equals the total dollar value available in the order book on both sides. This determines how easily you can execute trades without moving prices.
Thin Liquidity (typical for 15-minute and 30-minute markets): A $50k order might move price by 2-5%, creating significant slippage. High slippage risk makes these markets challenging for large positions. It's hard to exit large positions quickly if you need to get out. The solution is to use TWAP orders that break your trade into smaller pieces over time.
Deep Liquidity (typical for weekly and monthly markets): Orders of $100k or more experience minimal slippage because deep orderbooks absorb large trades. Tight spreads of 0.1-0.3¢ mean you lose less to the bid-ask spread. It's easy to enter and exit positions without moving markets. These conditions are best for large positions and institutional trading.
Minimizing Slippage: Use limit orders instead of market orders to control your fill price exactly. Use TWAP for orders over $5,000 to avoid walking the entire orderbook. Trade longer timeframes like weekly and monthly for better liquidity conditions. Check order book depth before placing large orders to estimate your likely fill quality.
Market Making
Market makers provide liquidity to the platform by placing orders on both sides of the book. They earn through multiple revenue streams while taking on specific risks.
How Market Makers Earn:
1. Spread Capture happens when you place a bid at 61.5¢ and an ask at 62.5¢. When both sides fill, you earn 1¢ per position in pure spread profit. Professional market making tools help you optimize this strategy.
2. Trading Fees of 0.25% on every trade are distributed to liquidity providers proportionally. This creates passive income based on platform volume, even when your spreads don't capture perfectly.
3. Platform Rewards include an enhanced incentive program on top of trading fees. Markets offering two-sided liquidity earn 3x rewards as an additional multiplier. Additional bonuses reward consistent liquidity providers who maintain tight markets.
LP Risk: Impermanent loss occurs if price moves significantly before both sides of your quotes fill, leaving you with directional exposure. You may miss profitable moves while providing liquidity as your capital is locked in quotes. Market making requires active monitoring to adjust quotes and manage risk effectively.
Getting Started as LP: Start with tight spreads of 0.3-0.5¢ to capture high fill rates and learn the mechanics. Place orders on both UP and DOWN sides to earn the 3x two-sided liquidity bonus. Monitor your fills and adjust quotes as market conditions change. Scale up your position sizes as you gain experience and confidence.
Advanced Market Making
For professional market makers, Libera supports automated market making bots with sophisticated risk management strategies.
Key Parameters: Base spread should be 6-8%, representing 3-4 cents per side on a $0.50 mid-price. Price constraint requires that UP_price plus DOWN_price approximately equals $1.00 at all times. Position limits should be set at MAX_POSITION_PER_SIDE equals capital times 0.30 to avoid overexposure. Max imbalance of 25% prevents taking too much directional risk on one side.
Risk Management Features: Automatic inventory skewing adjusts your quotes when positions become imbalanced, naturally hedging your risk. Stop loss triggers pause trading if daily loss exceeds 5% of capital, protecting you from catastrophic losses. Adverse selection protection cancels stale orders immediately on price moves greater than 2%. Time decay management reduces positions as expiration approaches to minimize settlement risk.
Starting Parameters (Conservative): Set spread at 8-10% or 4-5 cents per side to ensure profitability while learning. Use position size of $100-200 per side to limit risk while developing your strategy. Set max capital at risk to $500 total across all markets. Update frequency should be every 15 seconds to keep quotes fresh. Implement a stop loss of -$50 per day to limit learning costs.
See our Market Making Guide in the appendix for detailed implementation including code examples and advanced strategies.
Trading Strategies
1. Directional Trading involves analyzing asset fundamentals to form a price direction view. You buy UP or DOWN positions based on your analysis. Hold to expiration to maximize profit or exit early if your thesis changes. This strategy works across all timeframes from 15-minute to monthly markets.
2. News Trading means reacting to breaking news that moves markets. Quick entry via market orders gets you positioned immediately. Exit as the market adjusts and the move plays out. This strategy works best on hourly and daily markets where news impact is strongest.
3. Mean Reversion focuses on identifying market overreactions to temporary events. Buy when price overshoots fair value based on the news. Profit as prices normalize back toward equilibrium. This strategy works best on weekly and monthly markets where short-term noise fades.
4. Market Making involves providing two-sided liquidity on both UP and DOWN sides. Earn spreads between bid and ask plus trading fees and platform rewards. This strategy requires active management to adjust quotes and manage inventory. It's most profitable on high-volume markets with tight spreads.
5. Hedging lets you offset real portfolio exposure to manage risk. If you're long crypto in your main portfolio, buy DOWN positions as insurance. This protects against downside moves by paying a small premium for protection. The insurance premium is simply the cost of the DOWN positions.
6. Copy Trading (via Ligent) enables following top-performing traders automatically without doing your own analysis. Their successful strategies replicate to your account in real-time. You learn from experienced traders by watching their decision-making. Set risk limits and position sizes to control how much you allocate to copying.
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