Spot Trading FAQs
Spot trading on Backpack Exchange involves buying or selling cryptocurrencies for immediate settlement. Spot trading is ideal for those looking to own the underlying asset or trade without leverage.
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Spot trading on Backpack Exchange involves buying or selling cryptocurrencies for immediate settlement. Spot trading is ideal for those looking to own the underlying asset or trade without leverage.
Last updated
Looking for in-depth walkthroughs? Check out our Backpack Guides and Tutorials at or our trading system docs at
To execute a spot trade:
Log in to your Backpack Exchange account and navigate to the .β
Choose your trading pair (e.g., BTC/USDC).β
Select your order type (market or limit order).β
Enter the amount you want to buy or sell and confirm your order.
Your trade will be processed based on your order specifications and current market conditions.
On Backpack Exchange, you can use:
βMarket Orders: These execute immediately at the best available market price.
βLimit Orders: These only execute at a specific price or better, giving you more control over the trade price.
Conditional Orders: These are triggered when specific conditions are met, allowing for more automated trading strategies.
The price of an asset on Backpack Exchange is determined by supply and demand in the order book. Buyers and sellers place bids and asks, and when a match occurs, a trade is executed at that price. Market dynamics, trading volume, and external factors can all influence price movements.
Spot trading fees vary depending on whether you are a maker or a taker:
βMaker fees: Lower fees for adding liquidity to the order book by placing limit orders.
Taker fees: Higher fees for removing liquidity by placing market orders.
To view your trading history, go to your Portfolio and select Trade History. Here, youβll find a detailed record of all your completed trades, including the date, trading pair, order type, and execution price. This section helps you keep track of your trading activity and performance.
Yes, you can trade multiple assets simultaneously on Backpack Exchange. Simply select the desired trading pairs and execute your trades accordingly. You can manage all your open orders and trading activity from the Spot Trading interface.
To deposit assets:β
Click on the Deposit button located at the top of the screen.
Choose the asset you wish to deposit and follow the instructions to complete the transfer.
βTo withdraw assets:β
Click on the Withdraw button at the top of the screen.
Select the asset and enter the amount you want to withdraw, then confirm the transaction.
Make sure to review any applicable fees and minimum withdrawal amounts before proceeding.
Market orders execute instantly at the current best available price, which may differ from your expected price, especially in a volatile or low-liquidity market.β
Consider using a market order when speed is crucial, but be aware of potential slippage, which is the difference between the expected and executed trade price.
Limit orders allow you to set a specific price at which you want to buy or sell an asset. They are effective for:
βSetting target prices: Buy when the price drops to a certain level or sell when it rises to your desired level.
Reducing slippage: By specifying the price, you avoid the risk of your order being executed at an unfavorable rate. However, keep in mind that your order may not be filled if the market doesnβt reach your specified price.
βYou can calculate your potential profit or loss using the formula:
βProfit/Loss = (Selling Price - Buying Price) x Number of Units
This calculation helps you understand your gains or losses from a trade, excluding fees. You can also track your performance in the Portfolio section, where your trading history and account balance are displayed.
Spot trading carries several risks, including:
βMarket volatility: Cryptocurrency prices can be highly volatile, leading to rapid gains or losses.
Liquidity risk: Low trading volume may result in difficulty executing large trades without impacting the price.
Security risk: Always ensure your assets are stored securely, whether on Backpack Exchange or in your personal wallet, and enable two-factor authentication for extra protection.
Yes, you can trade stablecoins like USDC, USDT, and others in the spot market. These assets are often used for hedging, transferring funds, or as a base trading pair to minimize exposure to market volatility.
While Backpack Exchange does not currently support in-app price alerts, you can monitor market movements using our comprehensive charts and real-time order book data. Keep an eye on trading pairs and market conditions to stay informed and make timely trading decisions.
The order book on Backpack Exchange lists all active buy and sell orders for a specific trading pair. Bids represent buy orders, while asks represent sell orders.
The order book is updated in real-time, and trades occur when a buy order matches a sell order. You can use the order book to gauge market sentiment and potential price movements.
Check our for the most up-to-date information on trading fees.
Didn't find what you needed here? Check out our in-depth Backpack Guides and Tutorials at or our trading system docs at