# The Arkham Exchange

Arkham Exchange is the trading venue of the Arkham ecosystem, designed for both retail and institutional traders. It supports Spot trading and Perpetual Futures, offering deep liquidity and a seamless trading experience.

### Features

#### Spot Trading


Buy and sell cryptocurrencies directly, with balances updating in real time and full visibility into market depth.

#### Perpetual Futures


Trade contracts tied to crypto prices with leverage, dynamic margin schedules, and funding rates applied hourly.

#### Order Types


Execute trades with Market, Limit, or Take Profit/Stop Loss orders, giving flexibility between speed, precision, and risk control.

#### Funding Rates


Periodic payments exchanged between longs and shorts to align perpetual prices with the spot market.

#### Leverage and Margin


Dynamic margin schedules automatically adjust leverage based on position size, ensuring higher collateral for larger trades.

#### Liquidations and Insurance Fund


If equity falls below maintenance margin, positions are liquidated through LSPs, with shortfalls covered by the Insurance Fund and, if needed, ADL.

### Trade with Intelligence

Arkham Exchange is integrated seamlessly with the Arkham Intelligence Platform, allowing traders to move from intelligence to execution in a single ecosystem. It is used by both retail traders and leading institutions for fast, transparent, and risk-managed crypto trading.

### Guide

The following subpages provide detailed documentation for Exchange features:

* Spot Trading
* Order Types
* Perpetuals Trading
* Leverage and Margin
* Funding Rates
* Liquidations
* Insurance Fund
* Automatic Deleveraging (ADL)


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