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RFQ (Request for Quote) is the core mechanism Vistadex uses to get you competitive pricing on prediction market trades. Instead of executing against a single order book, your trade request is broadcast to multiple market makers who compete to fill it.

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How RFQ Works

1

You Initiate a Trade

Select a market and specify whether you want to buy YES or NO shares, along with the quantity.
2

Request Broadcast

Vistadex sends your trade request to our network of market makers and liquidity sources.
3

Market Makers Respond

Multiple parties analyze your request and submit their best quotes within a short time window.
4

Best Quote Selected

Vistadex automatically selects the best available price from all received quotes.
5

Quote Presented

You see the final price including the 0.5% Vistadex fee. No hidden costs.
6

Execution

If you accept, the trade executes on-chain with the quoted price locked in.

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Why RFQ Benefits You

When market makers compete for your order, you benefit from tighter spreads. A single venue has no incentive to offer better than their posted price—but in an RFQ auction, market makers know they’re competing and often offer improved pricing.
RFQ can tap into liquidity that doesn’t sit in public order books. Market makers may be willing to offer prices they wouldn’t post publicly, especially for larger orders.
The price you see is the price you get. Unlike order book trading where large orders can move the price as they execute, RFQ quotes are firm for the full quantity.
Market makers in an RFQ can often accommodate larger orders without the price impact you’d see on a thin order book.

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Quote Timing

RFQ auctions run quickly—typically completing within a few seconds. The quote you receive has a brief validity window (usually 30-60 seconds) during which you can accept it at the displayed price. If you don’t accept within the validity window, you’ll need to request a new quote. Market conditions may have changed, so the new quote could be better or worse.

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Fee Structure

Every RFQ quote includes Vistadex’s 0.5% (50 basis points) fee. This fee is calculated on the trade value and is already reflected in the price you see.
Trade AmountFee (0.5%)
$10$0.05
$100$0.50
$1,000$5.00
There are no additional hidden fees. Network transaction fees (paid in SOL) are separate and typically negligible.

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When RFQ Might Not Fill

In rare cases, an RFQ may not return a quote:
  • Low liquidity markets — Some markets may not have active market makers
  • Extreme size — Very large orders may exceed available liquidity
  • Market conditions — During high volatility, market makers may widen spreads or decline to quote
If you don’t receive a quote, try a smaller size or wait for market conditions to stabilize.