House and payout queue

Every trade settles against the exchange's house balance. A winning claim can be paid immediately when funds are available, or wait in a payout queue when they are not. House shows liquidity and queue activity across the exchange.

Available, margin and queued

• Available to Trade is USDC you can use for a cash-funded position or withdraw, subject to the withdrawal minimum.
• Margin in Use is assigned to open positions. It is not available for another cash-funded position or a withdrawal.
• Queued USDC is an unpaid claim from a settled position. It becomes available as the payout queue pays it.

See Portfolio for your balances and claims. A queued claim is recorded, but it is not spendable USDC until paid.

What is paid at close

For a position opened with available USDC, the surviving original margin is credited back to your available balance after any collectible close charge. If the trade wins, its net profit is paid from house funds as far as possible; the remainder can be queued. A loss reduces the margin you get back.

Claims enter a first-in, first-out queue. Newer claims wait behind older ones, and a claim can be paid in parts. The queue advances as funds become available. There is no guaranteed payout date, and a pending claim does not bypass older claims even if a newer trade closes profitably.

Trading with a queued claim

An optional Show Queue Debt Switch in Settings reveals the queued-collateral choice on the trade ticket. Using a queued claim as collateral can reduce or erase that claim if the new trade loses. Review that choice carefully before opening a position.

Unlike a cash-funded position, the collateral for this position was an unpaid claim rather than available USDC. Its surviving value or profit can become a new payable claim at close. The house does not hand you cash merely because the claim was used to trade again.

Follow a payout

Portfolio shows your queued USDC. As a claim is paid, its credited amount moves to Available to Trade, where it can be used or withdrawn subject to the withdrawal minimum. The House page shows exchange-wide liquidity and queue context; it cannot predict exactly when your claim will be paid. Read Wins and losses for settlement costs and Liquidations for the full-margin bust rule.

If a claim has not yet moved to available balance, attempting to withdraw that amount will not release it. Check Status for a pending transaction and Portfolio for the resulting claim.