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Reading a price

The app can show prices in six formats: cents, percentage, decimal, US, Hong Kong and Indonesian. Choose one under Price format in settings. This page explains cents and decimal. Cents. The default in the app. A price of 40c means the market puts a 40 percent implied chance on the outcome. Buy at 40c and each 40c you put in returns 100c if the outcome wins, which is 60c of profit. A 10 USDT buy at 40c returns 25 USDT. Decimal. The convention on exchanges and the API. A price of 2.50 returns 2.50 USDT for each 1 USDT you put in, including that 1 USDT, when the outcome wins. A 10 USDT buy at 2.50 returns 25 USDT, of which 15 USDT is profit. The two are the same number written differently:
So 2.50 is 40c, 1.25 is 80c, and 5.00 is 20c.

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The tick schedule

Prices are not continuous. Every valid price sits on a fixed tick schedule, and the tick widens as the price grows. Band boundaries are exact in decimal price. Match a price to its band by the decimal value, because the cents labels are approximate. So 2.51 is not a valid price. Between 2 and 3 the tick is 0.02, which makes 2.50 and 2.52 valid and nothing in between.

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Limit prices

Limit prices sit on this tick schedule. In decimal odds, as the API quotes them, higher is better on both sides: a sell price is quoted as odds on the outcome not happening. Your order never fills at a price worse than the one you named. Prices delivered from the live feed are already on the schedule, so a price you take straight off the book is valid as it is. Combo prices are the exception. A combo price is the product of its legs’ prices, so it does not sit on the schedule. It can be any value up to 1000.

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Why the schedule exists

Wider ticks at long prices keep the book from fragmenting across meaningless increments. At a price of 500, a 0.01 tick would spread liquidity across thousands of levels nobody can distinguish. At a price of 1.50 that same tick is meaningful.

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