> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyperdash.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Spot Trading

> Buy and sell assets outright on USDC-quoted spot markets that settle to your wallet.

Spot trading on Hyperdash means buying and selling the asset itself, not a contract tied to its price. Every spot market is quoted in USDC and trades 24/7, and what you buy you own: spot purchases settle on-chain to your wallet and can be sent or transferred out.

## How spot balances work

* Buys are funded from your spot USDC balance. Sells draw on the token balance you hold: you can only sell what you own.
* Balance reserved by a resting order shows as held and cannot be used by other orders until that order fills or is canceled.
* The trade panel shows your available USDC and available token balance, with **Deposit** and **Perps to Spot** shortcuts. USDC moves freely between your perps and spot accounts through the transfer modal (unified accounts share one balance and skip this step).
* Your holdings appear in the Balances table with amount, available, value, entry price, and PNL, plus actions to **Send**, **Transfer**, or set a TP/SL on a holding.

## Placing a spot order

<Steps>
  <Step title="Pick a spot market">
    Select a spot pair, for example HYPE/USDC, in the asset selector.
  </Step>

  <Step title="Choose an order type">
    Market and Limit are top-level tabs. The **Pro** dropdown adds Scale, Stop Limit, and Chase on the limit side, and TWAP, Stop Market, and Swarm on the market side. Accounts with OTC access also see an OTC tab.
  </Step>

  <Step title="Set side and size">
    Choose Buy or Sell, then size in the token or in USD, or use the slider to size as a percentage of your available balance. The panel shows order value, estimated slippage, and your maker and taker fee rates.
  </Step>

  <Step title="Submit">
    Market and limit buys can first attach Take Profit and Stop Loss triggers, by price or by gain and loss in % or \$. TP/SL exits execute as market orders.
  </Step>
</Steps>

Each order type has its own reference page: start with the [Order Types overview](/orders/overview), or jump to [Market](/orders/market), [Limit](/orders/limit), [Scale](/orders/scale), [Stop Limit](/orders/stop-limit), [Stop Market](/orders/stop-market), [Chase](/orders/chase), [TWAP](/orders/twap), or [Swarm](/orders/swarm).

## Settings

| Parameter               | Description and options                                                                                                           | Default |
| ----------------------- | --------------------------------------------------------------------------------------------------------------------------------- | ------- |
| Max slippage            | Caps how far a spot market-style fill can move against you. Click the **Est / Max** slippage readout in the order form to adjust. | 8%      |
| Take Profit / Stop Loss | Optional on market and limit buys. Triggers by price, or by gain and loss in % or \$.                                             | Off     |

Minimum order value is \$10. Order types that split into multiple orders, such as Scale, TWAP, and Swarm, require each child order to clear the same minimum.

## Spot vs perps

|             | Spot                                         | Perps                           |
| ----------- | -------------------------------------------- | ------------------------------- |
| Ownership   | You own the asset; it settles to your wallet | Contract exposure only          |
| Direction   | Buy, or sell what you hold                   | Long or short                   |
| Leverage    | None; orders are fully funded                | Varies by market                |
| Funding     | None                                         | Accrues hourly                  |
| Liquidation | None                                         | Possible on leveraged positions |

## FAQ

<AccordionGroup>
  <Accordion title="Can I short on spot?">
    No. Spot sells are limited to the balance you hold. For short exposure, use a perp market: see the [Trading Guide](/trading-guide).
  </Accordion>

  <Accordion title="How do I fund my spot balance?">
    Deposit directly, or transfer USDC from your perps account with the **Perps to Spot** button. See [Onboarding and Deposits](/onboarding-deposits).
  </Accordion>

  <Accordion title="Do spot trades pay funding?">
    No. Funding applies only to perpetuals. Spot costs are the maker and taker fee rates shown in the order form; see [Fees, Referrals and Rewards](/fees-referrals-rewards).
  </Accordion>

  <Accordion title="Can I set a TP/SL on tokens I already hold?">
    Yes. Use the TP/SL action in the Balances table to attach Take Profit or Stop Loss triggers to an existing holding.
  </Accordion>
</AccordionGroup>

<Note>
  Tokens reserved by resting orders are held: they cannot be sold or sent until the order fills or is canceled. The panel warns you when an existing order is already using part of a balance.
</Note>