Spot market
A market for trading the underlying asset with settlement according to the venue's delivery rules.
In more detail
In spot trading, the trade concerns the asset itself rather than a derivative tracking its price. The venue still determines how settlement and custody work. Buying spot BTC inside an exchange account therefore differs from holding the keys to BTC withdrawn to a self-custodied address.
How you might use it
You buy BTC in the spot pair and receive a BTC balance within the exchange's custody system, rather than a perp position.
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