What is Split

Split is an options app for short-dated views on BTC and ETH. It prices Split's own markets against Paradex and Derive and routes to whichever pays more. A perps, arbitrage and bot desk sits alongside.

You pick a direction and a payout. You pay once. If you are right at the close you get the payout; if not, you lose the stake. There is no margin, no funding rate and no liquidation price.

Compose: the view as a sentence, with payout and chance before you buy.

Compared with a perp

	Perp	Split
Max loss	Your margin	Your stake
Liquidation	Yes	No
Ongoing cost	Funding	None after entry. Time value is in the price.
Time limit	None	Expiry, daily on Split rounds
Payout	Linear in price	Known before you trade. On a Split band it stops at the cap.

What you give up

• Expiry. A position resolves at a set time. Out of the money at the close means the stake is gone.
• A cap. A Split band pays at most its width. Higher multiples need bigger moves.
• Spread. Selling before expiry gets the bid, not the mid.

Where it runs

Split's own markets are on Robinhood Chain and settle in USDG. Paradex and Derive positions live on those venues. Current status is on What is live.

Next: Place a trade.