Orderbook Arena

Anyone with a True Markets account who applies and is approved. The Arena is invite-only for its first run. True Markets employees and institutional accounts aren't eligible.

Fill out the form behind the Apply to compete button with the email on your True Markets account. Once you're approved, that email is registered as a contestant. Questions first? Talk to the team on Discord.

No. After you're approved, one click in the True Markets app enables orderbook trading on your wallet. There's no second sign-up.

All twelve tokenized stock books: NVDAC, TSLAC, AAPLC, MSFTC, AMZNC, GOOGLC, METAC, PLTRC, MSTRC, MUC, SNDKC and SPCXC. Trades anywhere else don't count.

Your score is your filled volume in US dollars, with maker volume weighted 3×:

• Maker: your resting order is filled. Each dollar counts 3 points.
• Taker: you fill someone else's order. Each dollar counts 1 point.

The leaderboard shows maker and taker volume separately and ranks by total points.

Each day one of the twelve books counts 2×, on top of the maker weighting, so a maker fill on the book of the day scores 6 points per dollar. Each day's book is announced in our Discord.

Yes. Fills count the same whether you trade by hand in the app or through the True Markets API.

In 14-day rounds, back to back. Round 1 runs Mon, Oct 26, 00:00 UTC to Sun, Nov 8, 23:59 UTC; then the leaderboard resets and the next round starts. Fills count from the moment you're approved.

$5,000 across ten winners: $1,800 for 1st, $1,000 for 2nd, $800 for 3rd and $200 each for 4th to 10th. Prizes are paid to your wallet after each round closes and its final standings are reviewed.

• Trades against yourself.
• Wallets funded from the same address are treated as one entrant, and only one of them can win.
• Volume above 30% with any single counterparty.

True Markets may disqualify any activity that breaks these rules, and the Terms of Service apply.