> For the complete documentation index, see [llms.txt](https://docs.carbon.inc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.carbon.inc/developers/introduction/core-concepts-and-glossary.md). # Core concepts & glossary Carbon inherits its vocabulary from the SYMM protocol. These are the terms that appear across the API. ### The two parties Every position is a bilateral contract between two parties. | Term | Also called | Who | | ---------- | -------------------- | ------------------------------------------------------ | | **PartyA** | Trader, user | **You** — the account opening the position. | | **PartyB** | Solver, market maker | The **counterparty** that quotes and fills your trade. | Objects carry `partyA` (your subaccount) and `partyB` (the solver address). ### Solvers A **solver** is a PartyB that prices your RFQ and settles against you on-chain. Target one via the `solver` parameter, or let Carbon route to the best available. | Solver | Notes | | ----------- | ----------------------------------------- | | `PERPS_HUB` | Crypto perps & 24/7 RWAs | | `NOXRWA` | Real-world assets (equities, commodities) | Solver liquidity, caps, and funding are exposed under `/v1/solvers/...`. ### Positions and orders * **Quote /** `quoteId` — the on-chain object representing a position. In SYMM a position *is* a quote; `quoteId` is its canonical id. * **Order type** — `MARKET` (fill now, bounded by `slippage`) or `LIMIT` (fill at `limitPrice` or better). * **Position type** — `LONG` or `SHORT`. ### Margin fields When a position opens, collateral is locked on both sides. These appear in position/balance payloads: | Field | Meaning | | ----------------------- | ------------------------------------------------------------------ | | `cva` | Credit Valuation Adjustment — covers counterparty credit risk. | | `lf` | Liquidation Fee — reserved to pay whoever liquidates the position. | | `partyAmm` / `partyBmm` | PartyA / PartyB maintenance margin. | | `lockedValues` | The bundle of the above locked for a position. | ### Balance fields | Field | Meaning | | ------------------- | ------------------------------------------------------------------------------------------------------------------------------------ | | `allocatedBalance` | Balance allocated in the subaccount. Considered in equity of the account | | `equity` | Balance adjusted for unrealized PnL. | | `freeBalance` | Free collateral in the account. When trading isolated, the parent subaccount contains the free balance, then it's allocated into VAs | | `availableForOrder` | What you can commit to a new order now. | | `upnl` | Unrealized PnL across open positions. | | `maintenanceMargin` | Collateral that must stay locked to keep positions solvent. | ### Account hierarchy | Level | What it is | | ------------------------ | ----------------------------------------------------------------------------------------------------------------------- | | **Account** | Your wallet — the owner identity that signs in. | | **Subaccount** | An on-chain PartyA under your wallet. Positions live here. | | **Virtual Account (VA)** | A margin-isolated container inside a subaccount, for **isolated** (tradfi) positions. They are threated as a subaccount | Cross positions share a subaccount's margin; isolated positions each get a VA. Controlled by `isolate`, `isolationType`, and `parentSubaccount`. See [Accounts & trading modes](/developers/architecture/accounts-and-trading-modes.md). ### Funding Perps have no expiry, so a **funding rate** periodically transfers value between longs and shorts. Current rates come from `/v1/solvers/funding-info` and `/v1/pricing/...`; realized funding from `/v1/public/.../funding-history`. ### Prices * **Mark price** — used to value positions and compute PnL / liquidations. * **Index / last price** — the underlying's reference price. Both under `/v1/pricing/...`. ### Key identifiers | Identifier | What it is | | --------------------- | ----------------------------------------------------------------------------------------------------- | | `tempId` | Client-side handle returned immediately on a trade submit, before it's on-chain. Poll status with it. | | `quoteId` | The on-chain position id, assigned once confirmed. | | `marketId` / `symbol` | Numeric id / human name of a market. | | `subaccountAddress` | The PartyA a request acts on. | | `chainId` | `42161` (Arbitrum). | | `batchId` | Groups the results of a batch operation. | | `apiKeyIdentifier` | Public identifier of an API key, used in delegations. | The `tempId` → `quoteId` transition is explained in [How trading works](/developers/architecture/how-trading-works.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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