Novig v3 fees and game settlement: quantity units explained

A sports-focused order-book product

Novig’s v3 trading documentation describes a sports-oriented order book with one-cent winning-payoff quantity units. Game markets use a WHEN_LIVE fee phase; the specified futures schedule is ALWAYS. The guide below evaluates those mechanics. Consumer age, state eligibility and banking coverage remain specifically unresolved in these technical sources.

The live and futures schedules

The v3 document uses fee = coefficient × price × (1−price) × quantity × $0.01: its wire quantity counts one-cent payout units. Thus 10,000 units have $100 total winning payoff, equivalent to 100 $1 units. At price 0.50 and coefficient 0.06, the taker fee is $1.50. Confusing those quantities causes a 100-fold error.

Game markets marked WHEN_LIVE charge only when matched in OPEN_INGAME. Certain league futures use ALWAYS and can charge before an event is live; other futures/series winner schedules differ. The market’s own fee object governs. Makers do not pay a trading fee; from October 22, the stated maker-credit share is 25% of collected game fees or 50% on the documented futures schedule.

Execution and grading limitations

Every transition to live play voids resting orders in the documented lifecycle, and a suspended game can re-enter live play. Fee eligibility follows match time, not when an order was submitted. RFQ combinations have a separate fee schedule and do not inherit game-maker credits.

Settlement can grade win/loss, push or fair-market-value. Push returns collateral; FMV pays a defined fraction, and remediation can undo a prior grade. That is why contract rules matter when a sport is postponed or an outcome becomes exceptional.

What the trading documentation establishes—and what it does not

The current source establishes the sports order-book fee and grading model. It does not establish a complete consumer eligibility policy, minimum age or payment schedule. Those are account-opening facts, and a sports contract document cannot substitute for them. This page therefore covers Novig v3 fee units and game settlement, rather than a completed consumer onboarding review.

For a standard $100 winning payoff, 10,000 one-cent units at 0.50 require $50 collateral. A charged coefficient of 0.06 adds $1.50, so a win nets $48.50 before other costs while a loss consumes $51.50. For pregame WHEN_LIVE fills, the charged fee can be zero; for ALWAYS futures it can apply before live play. The market’s fee object, not a historic “commission-free” slogan, determines that distinction.

Do not fund an account based on this mechanics explanation. Eligibility, age, funding methods and withdrawals need the current consumer terms for the exact product and residence. No nationwide access, account age or banking method is asserted here.

Do not compare quantities before payoff units

10,000 one-cent Novig units have a $100 winning payout; 100 standard one-dollar contracts also have a $100 winning payout. Comparing a raw count of 100 on both venues introduces a 100-fold mistake. At 50% the normalised entry notional is $50. WHEN_LIVE charging depends on game phase; the specified ALWAYS futures schedule does not turn off before the game.