Risks and Mechanics
Understand settlement, off-hours trading and the mechanics behind Arcus markets.

All Risks and Mechanics guides
How Spot Settlement Works on Arcus
Settled vs unsettled on Arcus spot: what the two balance states mean and why your price is locked.
How Arcus Handles Equity Perps Outside Regular Trading Hours
Equity Perps trade 24/7 on Arcus. How margin, price bands and funding adjust when the market closes.
Arcus Spot RFQ: The Design Logic
Arcus enables a CLOB for perps and RFQ for spot. Here's the design rationale for using both mechanisms.
