> For the complete documentation index, see [llms.txt](https://docs.bullpen.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bullpen.fi/trading/overview.md).

# Overview

Bullpen provides access to prediction markets, perps, and spot markets from a single interface.

## Market Types

| Market                 | Description                               | Execution          |
| ---------------------- | ----------------------------------------- | ------------------ |
| **Prediction Markets** | Event-driven markets with binary outcomes | Polymarket         |
| **Perpetuals**         | Leveraged derivatives with no expiry      | Hyperliquid        |
| **Spot (Major)**       | Large-cap tokens listed on Hyperliquid    | UNIT / Hyperliquid |
| **Spot (Long-tail)**   | Any Solana token (SPL and Token2022)      | Jupiter Ultra      |

Support for additional chains is planned for future releases.

Each market type has its own account balance. You can transfer collateral between accounts using the transfer module in the app.

## Prediction Markets

Prediction markets let you trade on the outcome of real-world events. Bullpen routes these orders through Polymarket's CLOB.

Key characteristics:

* Binary outcomes priced between $0.00 and $1.00
* Fully collateralized with USDC.e on Polygon
* Smart money discovery, copy trading, and alerts built in

→ [Learn more about Prediction Markets](/prediction-markets/overview.md)

## Perpetuals

Perpetual futures let you take leveraged long or short positions on crypto assets. Positions have no expiration date and remain open until you close them or get liquidated.

Key characteristics:

* USDC-margined
* Up to 50x leverage (varies by asset)
* Funding rate payments every hour
* Cross or isolated margin modes

→ [Learn more about Perpetuals](/trading/perpetuals.md)

## Spot Trading

Spot trading means buying and selling the actual underlying asset.

**Major assets** (BTC, ETH, SOL, HYPE, etc.) trade on Hyperliquid's spot orderbook via the UNIT integration. These offer deep liquidity and tight spreads.

**Long-tail assets** (any Solana token) route through Jupiter Ultra, which aggregates liquidity across all major Solana DEXs and provides MEV protection.

→ [Learn more about Spot Trading](/trading/spot-trading.md)

## Order Types

Bullpen supports the full range of Hyperliquid order types for perps:

* Market
* Limit (GTC, IOC, ALO)
* Stop Market / Stop Limit
* Take Profit / Stop Loss
* TWAP
* Scale Orders

→ [Full Order Types Reference](/trading/order-types.md)


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