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Spot markets support buying and selling supported Ondo Global Markets tokens for USDC. Every spot order is fully funded from the user’s Spot balance. Spot trading does not provide leverage, borrowing, or perpetual funding payments. A sell order uses an available token holding; it does not open a short position. For tokenized stocks, order quantities, fills and balances use the displayed equivalent quantity under the corresponding asset symbol. The underlying asset bought, sold or held is the GM token. A supported withdrawal sends that token to the user’s external wallet.

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What a buy does

A buy fill spends USDC from the user’s Spot balance to purchase the corresponding Ondo Global Markets token. For example, a buy in SPY/USDC purchases SPYon for the user. The interface shows that holding as a SPY equivalent balance. The displayed balance is a representation of the purchased SPYon; the user does not receive a separate holding of SPY shares. A supported withdrawal sends the corresponding quantity of SPYon to the user’s external wallet. A buy fee is deducted from the purchased asset and reduces the resulting displayed equivalent quantity. See Fees. The purchased tokenized stock can be sold for USDC, withdrawn to the user’s external wallet where supported, or allocated to the user’s Perps balance if eligible as collateral.

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What a sell does

A sell fill sells the corresponding quantity of the underlying GM token and credits USDC proceeds, less the sell fee, to the user’s Spot balance. An order may fill partly or not at all. Only completed fills change the traded quantities.

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Prices and settlement

Prices and values display in USD; trades settle in USDC. Execution prices come from the spot order book. Prices are quoted for the displayed equivalent unit. The last price of the underlying security is not a guaranteed execution price, and a market order can fill at several prices as it consumes available liquidity.

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Order size and price requirements

Each spot market defines a minimum order size, a quantity increment and a price increment. All spot markets use a quantity increment and a price increment of 0.001. An order outside these rules is rejected even when the user’s Spot balance shows sufficient available funds.

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Placing a first spot trade

  1. Fund Ondo Perps with a supported asset on a supported network.
  2. Transfer an available amount to the user’s Spot balance.
  3. Select the market, review the displayed equivalent quantity and price, and submit a supported order type.
  4. Review the resulting fills, fees and Spot balance.
Order submission is not execution. See Positions Panel for order and fill records, Balances for availability, and Transfers for moving value between balances.