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Trading Basics

Onsight supports two types of orders on Polymarket: Market Orders for instant execution and Limit Orders for price control.

Market Orders

Instant execution at the best available price. Perfect for fast-moving markets.

Limit Orders

Set a price and wait for the market to match it. Best pricing but takes patience.

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Understanding Prediction Markets

Prediction markets let you trade on the outcome of real-world events. Each market has outcomes priced between 0.00 and 1.00:
  • $0.65 = 65% probability the outcome will happen
  • $0.35 = 35% probability it won’t happen
  • When the outcome resolves, winning shares pay $1.00 each
Example: If you buy 100 shares at 0.65, you pay $65.00. If your prediction is correct, you receive $100 (100 shares * $1.00) - earning $35 profit.

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Executing a Trade

1

Find Your Market

Navigate to Markets and find a prediction market you want to trade.
2

Choose Your Position

Select which outcome you want to trade:
  • Yes - Buy shares if you think it will happen
  • No - Buy shares if you think it won’t happen
You’ll see:
  • Current price per share
  • Your available balance
  • Options to Buy or Sell (if you have position)
3

Select Trade Amount

Choose how much USDC.e you want to trade:Preset Amounts:
  • Quick select: 5, 10, 25, 50 (customizable in Settings)
  • Minimum: $5.00 USDC.e
  • Maximum: Your available balance
Custom Amount:
  • Click Custom button
  • Type your amount (e.g., 15.50)
  • Minimum 5 shares after fees required
Amounts shown include the 1% trading fee. Example: 10 trade = $9.90 to market and $0.10 fee.
4

Choose Order Type

Select how you want your order to execute:
Market - Instant execution
  • Executes immediately at best available price
  • Fills from the order book right now
  • May have slippage on large orders
  • Best for: Fast execution, smaller amounts
You’ll see slippage warnings if market impact exceeds 5%. Consider using a limit order for better pricing on large trades.
5

Review and Confirm

Review the trade details before executing:Check These Details:
  • Total amount (including fee)
  • Estimated shares you’ll receive
  • Execution price
  • Fee breakdown (1% of total)
  • Slippage (for market orders)
When everything looks good, click Execute to place your order.
6

Track Your Order

After execution, you’ll see confirmation:Market Order:
  • Matched - Order filled immediately
  • Order ID for reference
  • Actual execution price
  • Shares received
Limit Order:
  • Live - Waiting in order book
  • Order ID for tracking
  • View in Orders menu
  • Cancel anytime before match
Use Orders to track all pending limit orders and see when they get filled.

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Limit Order Pricing

When placing a limit order, you can set a custom price or choose from preset offsets:
Default Price Options:
  • -5% - 5% below current price (buy below market)
  • -2% - 2% below current price
  • Current - Current market price
  • +2% - 2% above current price
  • +5% - 5% above current price (sell above market)
  • ** Custom** - Enter any price you want
Price offsets are customizable in ⚙ Settings → Limit Orders. Set your preferred offsets for faster trading.

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Understanding Fees

Onsight charges a 1% fee on the total trade amount to cover infrastructure and development.

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Fee Breakdown

User wants to trade $100
├─ $99.00 → Actual trade amount
└─ $1.00 → Onsight fee (1%)

Result: ~147 shares at $0.67/share
Market Orders: Fee collected immediately when order matchesLimit Orders: Fee collected when order matches (not when placed)If your limit order gets cancelled, no fee is charged.
No. Fees are final once an order matches. However, if you cancel a limit order before it matches, no fee is charged.
Fees cover:
  • Infrastructure costs (servers, database, WebSocket connections)
  • Relayer network usage (gasless transactions)
  • Development and maintenance
  • 24/7 bot availability
  • Future feature development

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Selling Your Position

Once you own shares, you can sell them at any time:
1

Navigate to Position

From Positions, find the market you want to sell.You’ll see:
  • Your position size (number of shares)
  • Current market value
  • Unrealized P&L
2

Choose Sell Percentage

Select what portion of your position to sell:
  • 25% - Sell quarter position
  • 50% - Sell half position
  • 75% - Sell three-quarters
  • 100% - Close entire position
  • Custom - Enter exact share amount
Partial sells let you lock in profits while maintaining exposure. Sell 50% at profit to secure gains, let the rest ride.
3

Review and Execute

Check the details:
  • Shares being sold
  • Current price
  • Estimated proceeds (after fee)
  • P&L on this sale
Click Execute to sell.

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Trading Strategies

Buy and sell quickly based on short-term price movements.Best Practices:
  • Use market orders for instant execution
  • Trade liquid markets with tight spreads
  • Set clear profit targets (5-10%)
  • Watch for news that moves prices
  • Use smaller position sizes for multiple trades
Scalping works best on high-volume markets with frequent price updates. Check the 24h volume before trading.
Identify mispriced markets and hold until resolution.Best Practices:
  • Deep research on event fundamentals
  • Use limit orders to get better entry prices
  • Larger position sizes on high-conviction trades
  • Hold through volatility
  • Calculate expected value before entering
If you believe the true probability is 70% but the market is at 60%, you have a +10% edge. These add up over many trades.
Find markets where YES + NO prices don’t equal $1.00.Example:
  • YES trading at $0.52
  • NO trading at $0.46
  • Total: 0.98 (should be 1.00)
  • Profit opportunity: $0.02 per share
Best Practices:
  • Act quickly, these opportunities disappear fast
  • Use market orders for immediate execution
  • Account for fees (1% each side)
  • Works best with larger amounts
Arbitrage opportunities are rare and competitive. By the time you see them, they may already be gone.
Use opposite positions to reduce risk.Example:
  • You’re long YES at $0.60 with 100 shares
  • Market moves to $0.75
  • Sell 50 shares at $0.75 to lock in profits
  • Keep 50 shares exposed for upside
Benefits:
  • Lock in partial profits
  • Reduce downside risk
  • Stay in the game with remaining shares
Hedging is great when you have unrealized profits but think volatility might increase. Secure some gains while staying exposed.

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Slippage Protection

Onsight automatically calculates slippage for market orders and warns you when it exceeds 5%.

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What is Slippage?

Slippage is the difference between expected price and actual execution price:
  • Low Volume Markets - Larger slippage due to thin order books
  • Large Orders - More slippage as you consume multiple price levels
  • High Volatility - Prices change rapidly, affecting execution
Slippage Example
Example: Buying $100 worth at $0.65

Order Book:
10 shares at $0.650
20 shares at $0.655
30 shares at $0.660
40 shares at $0.670

Your order fills:
- 10 shares at $0.650 = $6.50
- 20 shares at $0.655 = $13.10
- 69 shares at $0.660 = $45.54
- 43 shares at $0.670 = $28.81

Average price: $0.658 (vs expected $0.650)
Slippage: +1.2%
If slippage exceeds 5%, you’ll see a warning message:HIGH SLIPPAGE: +5.2%Your order may execute at a worse price than expected. Consider using a smaller amount or placing a limit order.

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Best Practices

Start Small

Make your first few trades with minimum amounts ($5-10) to learn the interface before committing larger amounts.

Check Volume

High volume markets have tighter spreads and better liquidity. Look for markets with $10K+ daily volume.

Set Limits

Use limit orders for large trades to avoid slippage. Save 2-5% on execution vs market orders.

Track Performance

Review your Positions regularly. Know your P&L on each trade and overall portfolio ROI.
Trading prediction markets involves risk. Only trade amounts you can afford to lose, and always do your own research before entering a position.