Trading
Placing your first trade
Updated 4/29/2026
The trade panel on every market page lets you buy or sell shares in either outcome. Two flavors: market (fill at the best available price now) or limit (rest on the book at your specific price until someone matches).
Market vs limit
A market BUY fills at the cheapest available ask, walking up the book until your size is filled. A limit BUY at 50¢ rests on the book until a SELL at 50¢ or better matches it.
Use market when you want certainty of execution and don't mind paying the spread. Use limit when you have a price you won't go above.
Slippage protection
Market orders carry a maxSlippageCents tolerance. By default, the matcher refuses fills more than 2¢ from the outcome's last-trade price. Adjust your default at /settings/trading or override per-order.
If a fill would exceed the tolerance, the matcher leaves the unfilled portion as a limit order at the anchor price (auto-convert), or cancels it (strict mode — toggle at /settings/trading).
Fees
Granbay charges 2% to the taker (the side that crossed the spread) and nothing to the maker (the resting order that gets hit). Fee is taken at fill time from the taker's cash. See the Fees article for the full rate table.