> For the complete documentation index, see [llms.txt](https://docs.predict.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.predict.fun/the-basics/block-trades.md). # Block Trades How Predict's block trades work: privately negotiate large trades and settle them on-chain with no slippage and no partial fills. Predict's block trades enable you to **privately negotiate large trades** and settle them on-chain, without ever touching the public order book. The trade executes in full at an agreed price, with no slippage and no partial fills. The platform can be accessed [here](https://predict.fun/blocktrade). ### When to Use Block Trades Want to move size? That's what this venue is for. Filling a large order on the public book exposes you to more unfavorable pricing, as it eats into the available depth. A block trade, on the other hand, matches you directly with a single counterparty (either another trader, or Predict's market maker), where you'll get a single price for the entire quantity. {% hint style="info" %} Block trades have a minimum order size of 100,000 shares. {% endhint %} ### How It Works A block trade has two sides: * The creator builds and signs the order, then shares a secret token with their counterparty. * The counterparty loads the order with that token, reviews it, and executes it. {% hint style="info" %} The whole flow is private. The order only exists between you, your counterparty, and the settlement contract. {% endhint %} #### 1. Create the order On the **Create** tab: * **Pick a market and outcome**: search for a market or paste a market link, then choose the outcome you want to trade. * **Set your side**: whether you're buying or selling that outcome. * **Set quantity and price**: the number of shares (minimum 100,000) and your price in cents. The current book price is shown for reference. * **Choose your role**: Maker or Taker. This decides who pays the trading fee: the taker pays it, the maker pays nothing. Agree with your counterparty ahead of time who takes which role. When you create the order, you sign it with your connected wallet. Signing costs nothing and moves no funds - it just authorizes the trade at exactly these terms. Funds only move when your counterparty executes. #### 2. Share the secret token After creating, you get a secret token. This is the key to your order: * Send it to your counterparty however you like (DM, chat, etc.). They can paste it on the **Accept** tab, or open it directly via `predict.fun/blocktrade/`. * Copy it immediately. It's shown only once, and we can't recover or re-display the token later. {% hint style="danger" %} Anyone with the secret token can fill your order. Only share it with your intended counterparty. {% endhint %} While the order is live you'll see it under **Open Orders**, and you can cancel it at any time (free, no transaction needed), from the share screen or from **Open Orders**. #### 3. Accept and execute On the **Accept** tab, the counterparty pastes the token (or opens the shared link) and hits **Load Order**. Loading only previews the order: the market, outcome, quantity, price, notional, what you'd pay or receive, and any fee. Nothing executes until you review and confirm. If it looks right, hit **Execute Trade**. You sign the matching side of the trade with your wallet, our matching engine verifies both signed orders line up exactly, and the trade settles on-chain. Both sides receive their assets, shares to the buyer and USDT to the seller, in the same settlement. In a binary market the counterparty can also fill from the other outcome. For example, if the creator is buying YES at 60¢, you can fill it by buying NO at 40¢ instead of selling YES. The two positions are minted as a pair. The Accept screen shows exactly how you'll fill before you confirm. #### Fees {% hint style="info" %} Block Trades are currently running under a **Zero Fee Promotion** — takers pay no fee while it's active. The schedule below is what applies once the promotion ends. {% endhint %} * Only the taker pays a fee; the maker pays nothing. Which party is the taker is chosen when the order is created. * The taker fee uses the same schedule as regular trading on the market, including any fee discount on your account, and it scales down for prices near 0¢ or 100¢ (it's based on the cheaper of the two outcomes, not flat on notional). * The exact fee amount and rate are always shown before you sign anything. #### Settlement Block trades settle in USDT on BNB Chain, through the same audited exchange contracts as regular Predict orders. The position you receive is identical to one bought on the public book: it appears in your portfolio and pays out $1 per share if your outcome wins. #### Tracking your orders The bottom of the Block Trades page has two tabs: * **Open Orders**: your live orders, with inline cancel. * **Tx History**: every event on your block trades (created, fulfilled, cancelled, expired, and match results), with links to the on-chain transaction on the block explorer. An order stays open until it's fulfilled or you cancel it. #### Good to know * Your balance is checked at creation, and again at execution. If the creator no longer holds the shares or USDT backing the order when the counterparty executes, the trade fails rather than settling partially. * You can't fill your own order. * Cancelling is free and instant. The order never touched the chain, so there's nothing to unwind. * Lost the secret token? Cancel the order from **Open Orders** and create a new one. #### FAQ **Does creating an order lock my funds?** No. Creating and signing an order doesn't move or lock anything. Your funds are only used at the moment the counterparty executes, which is also why the trade fails if you've since spent them. **Can other people see my block trade?** No. The order never appears on the public book. Only someone with the secret token can see or fill it. **Can an order be partially filled?** No. Block trades execute in full or not at all. **Who can be my counterparty?** Anyone: another Predict user you've negotiated with, or our market maker. You just need to send them the secret token.