Split / Merge
Beyond buying and selling on the order book, you can swap USDT and a pair of outcomes directly with Split and Merge. They're supported right in the trading UI, with no fees and no gas.
#Split
Put in USDT and equal amounts of YES and NO in the same market are created at the same time.
N USDT → N YES + N NOExample uses:
- Arbitrage — when the YES price + NO price is greater than 1, split USDT and immediately sell both sides.
- Market making — post both sides to the book and supply by splitting on each fill.
#Merge
If you hold equal amounts of YES and NO in the same market, convert them back into USDT.
N YES + N NO → N USDTExample uses:
- Recover USDT once you've accumulated both sides.
- When you want to clean up a position before the market closes.
#How it differs from order-book trading
When you fill a buy or sell on the order book, a similar conversion happens internally, but it's processed together with another user's order. Split and merge are different in that they let you swap USDT ↔ a pair of outcomes on your own, with no counter-order. Both have zero fees.
#Using it in the UI
From the positions panel, you can split USDT into a pair of outcomes, or merge a YES + NO pair you hold back into USDT. The UI handles approvals and gas automatically.