01 / The reference side
Want yesterday's price?
Aim to buy or sell BTC around yesterday's average. Agree a discount to attract the other side.
Buy or sell Yesterday's reference
Yesterday's price.
Today's market.
Buy or sell around yesterday's BTC price.
Or bet on the other side.
Yesterday's reference.
Tomorrow's possibilities.
Conditional payouts. Positions stay locked until settlement.
Scroll to explore01 / The idea
Two perspectives.
One daily market.
Some see a price they wish they had taken.
Others see a move still to come. Yesterday brings them together.
02 / The counterparty
See the next move?
Take leveraged exposure in the opposite direction. Your entry cost is agreed; your payout depends on what comes next.
Take the other side Funded pool cap
Both sides share one funded pool. Tomorrow's average determines the split. Either side can receive zero.
02 / The daily cycle
A new day.
A new perspective.
Trade Monday. Measure Tuesday.
Settle Wednesday or later, once the average is final.
Yesterday sets the reference.
One daily BTC average gives both sides a common starting point.
Today, you find the other side.
Choose your side and discount. Compatible orders match automatically, including partial fills. Each match funds a pool.
Tomorrow shapes the outcome.
The following day's average decides how the pool is split. Once finalized, settle to your balance and reuse or withdraw.
03 / Try a perspective
What if
you're right?
Move the final average. See what each side pays, receives, and gains or loses.
Illustrative calculator
Two sides. One outcome.1 BTC example
Sell yesterday
Wants yesterday's price
- Contributes
- 1 BTC
- Receives at settlement
- 74,000 USDC
- Net result
- -9,000 USDC
Bet on a rise
Takes the Buy side
- Pays to enter
- 1,000 USDC
- Receives at settlement
- 10,000 USDC
- Net result
- +9,000 USDC
How the pool is split84,000 USDC
Sell yesterdayBet on a rise
Both sides receive USDC. The final average determines the split.
Calculation details
For this illustration, q = 10. In a live daily market it is fixed from historical averages, not selected by the trader.
Buy payout = min(pool, 10 × BTC size × max(final average − 85,000, 0)). Sell receives the rest.
| Final average | Buy (USDC) | Sell (USDC) |
|---|---|---|
| $80,000 | 0 | 84,000 |
| $85,000 | 0 | 84,000 |
| $86,000 | 10,000 | 74,000 |
| $95,000 | 84,000 | 0 |
Illustration, not a quote. Either side can receive zero. Net results value entry assets at today's example price; fees excluded.
04 / A little more clarity
Good
questions.
Am I guaranteed yesterday's price?
No. It is the reference for the trade. Your final payout depends on the following day's average, and the other side can earn some or all of the pool.
When do I get paid?
After the following day's average is finalized. A Monday trade can settle on Wednesday or later. Payouts go to your contract balance, ready to reuse or withdraw.
Can I lose my contribution or exit early?
Either side can lose its full contribution. Matched positions stay locked until settlement; only the unfilled part of an order can be canceled.
Do both sides receive the same asset?
Yes. Both receive USDC on a Sell-advantaged day, or BTC on a Buy-advantaged day. There is no conversion at settlement.
Are the calculator prices live?
No. This calculator uses illustrative prices and scenarios to explain how payouts work.