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Spot markets trade a base asset against USDC on Pacifica’s performant orderbooks.

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Order Types

Spot markets accept Market, Limit, Stop Market, and Stop Limit orders with TIF settings GTC, IOC, ALO, and TOB. See Order Types for more. Orders flagged reduce_only on a spot market are rejected.

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Fees

Spot fees are deducted from the received asset at the end of a trade. 
buy:  received_base = (usdc_spent / price) * (1 - fee_rate)
sell: received_usdc = (base_sold * price)  * (1 - fee_rate)
Fee tiers follow the perpetual fee schedule. See Trading Fees.

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Balance Locks

Placing a spot order locks the relevant balance until the order fills or is cancelled.
SideLocked balanceEffect on cross margin
Buysize * price in USDCReduces available_to_spend and available_to_withdraw by the locked USDC.
Sellsize in base assetReduces spot_collateral_value by the locked units’ LTV-adjusted value.