> For the complete documentation index, see [llms.txt](https://docs.fuyo.markets/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fuyo.markets/faq/pricing-and-fees.md).

# Pricing & Fees

#### Who am I trading against?

Liquidity provider. There's no waiting for another person to take the other side — Fuyo always quotes a price and fills your trade instantly, even on 1- and 5-minute markets.

#### What do the prices mean?

The YES price and NO price always add up to **$1.00**, and you can read them as a probability. YES at $0.50 means the market thinks it's a coin flip. YES at $0.80 means the market thinks YES is 80% likely. Each share pays **$1.00 if your side wins**, nothing if it loses.

#### Why does the price move when I trade?

Because your trade is real information. When you buy a side, that side gets a little more expensive and the other side gets cheaper — you're nudging the odds. Small trades barely move it; big trades move it more. On fast markets the price is deliberately lively, so it can swing on modest volume.

#### Why did I pay a slightly worse price than what I saw?

On a larger order you move the price as you buy, so your average fill is a touch above the price you started at. Small micro-trades barely feel this.

#### Is there a fee?

Yes — a flat 3% Liquidity Spread. It's the cost of getting an instant, guaranteed fill any time, without waiting for someone to take the other side. Think of it like the spread you'd pay a trade on any exchange.

#### When do I pay the 3%?

Only when you **trade**, not when you win:

* **Buy now**→ you pay it once, on entry. It's baked into your odds line. 
* **Sell early** → you pay it again on the way out, because selling is another trade.
* **Market settles (you win)** → no spread. You're paid out clean minus the fees on profit.
* **Market gets voided** → full refund.

#### So if I just pick a side and wait, the fee is tiny?

Yes. A normal trader who holds to the result pays the 3% spread fees exactly once, and it just shows up as a slightly different odds line. It's close to invisible.

#### Are there other fees?

10% fees on your profits (never on your stake) when you are profitable.

#### What happens if I lose?

You lose your stake, and that's it. No spread is added at settlement, and there's no sell fee on a loss. The fee never piles onto a losing trade you held to the end.

#### What if the market is cancelled?

You get a 100% refund.

#### Why does the fee exist at all?

To pay for always-on, instant liquidity — and to keep automated bots from draining the LP. Bots that flip in and out pay the 3% on every trade (6% per round trip), which stacks up fast. Normal traders who hold to the result barely touch it. The fee is designed to be trivial for you and expensive for anyone trying to manipulate the prices.

#### Can I sell before a market resolves?

Yes, on most markets — you can cash out early to lock a gain or cut a loss, except in the final xx seconds during locked stage before market resolved.