> ## Documentation Index > Fetch the complete documentation index at: https://docs.rekt.money/llms.txt > Use this file to discover all available pages before exploring further. # Markets > The live markets, BTC, ETH, SOL, XRP and HYPE, their hours, and the four states a market can be in. **Live: BTC, ETH, SOL, XRP and HYPE.** All five trade around the clock. Gold (XAU/USD) is not available for now. Each market carries its own calendar on chain (`market.sessions`), so read a market's state rather than assume it is open. > [!NOTE] > > This page gives the rules. For the states as a type, and the fields on them, see > [how it works](https://docs.rekt.money/how-it-works.md#the-price-that-decides-your-outcome) and [reading > gates](https://docs.rekt.money/sdk/gates.md). ## The markets | Market | Hours (UTC) | Size | | - | - | - | | BTC | Always open | 1000x | | ETH | Always open | 1000x | | SOL | Always open | 1000x | | XRP | Always open | 1000x | | HYPE | Always open | 1000x | Minute rounds run on BTC, ETH, SOL and XRP (`market.minuteEnabled` is true). Only the markets in the table are open to trade. A paused market refuses new opens and adds with `MarketPaused`, and closes keep working. ## Markets with trading hours > [!NOTE] > > No live market has trading hours. Gold (XAU/USD) follows the rules below, and it is not available > for now. ## When gold trades Gold trades in five sessions each week. Each session opens at 23:00 UTC and closes at 21:00 UTC on the next day. | Session opens (UTC) | Session closes (UTC) | | - | - | | Sunday 23:00 | Monday 21:00 | | Monday 23:00 | Tuesday 21:00 | | Tuesday 23:00 | Wednesday 21:00 | | Wednesday 23:00 | Thursday 21:00 | | Thursday 23:00 | Friday 21:00 | Gold is closed from 21:00 to 23:00 UTC on Monday to Thursday, and from Friday 21:00 UTC to Sunday 23:00 UTC. **The hours are fixed in UTC.** They do not move when clocks change for daylight saving. A scheduled event window can halt a market for a few minutes. Windows are entries on the market's account (`market.eventWindows`), so read them there. While a window lasts, opens and adds are refused and the market reads **halted**. ## What happens in each gold session | Time (UTC) | Opens | Adds | Positions | | - | - | - | - | | 23:00 to 20:25 | Accepted | Accepted, see rule 3 | A new position's life ends at 20:30 at the latest. | | After 20:25, to 20:30 | Refused, `SessionEndsBeforeTenor` | Accepted on a live position, see rule 3 | Live until 20:30. | | 20:30 to 21:00 | Refused, `SessionEndsBeforeTenor` | Refused | Every position's life has ended. Anybody may mark its end, and it is closed at the next price. | | At 21:00 | Refused, `MarketClosed` | Refused | The session closes. A position that is not settled before the close ends at par. | | 21:00 to 23:00 | Refused, `MarketClosed` | Refused | No new gold position opens. A quote signed after the close never prices a position from the session before. | The rules behind that table: 1. **Every gold position ends by 20:30 UTC on the day its session closes.** Its life is the protocol tenor (`config.params.tMaxSeconds`) or the time left until 30 minutes before the close, whichever is shorter. The 30 minutes is `market.sessionBufferS`. The life is frozen onto the position at open; `deadlines(position).tenorExpiresAt` reads it. 2. **Opens stop 35 minutes before the close.** A new position must get at least five minutes of life, so from 20:25 UTC an open is refused with `SessionEndsBeforeTenor` and the market reports **closing soon**. Open again after 23:00 UTC. 3. **Adds follow the position, not the clock.** You can add to a live gold position until its own life ends: the venue judges an add against the position's remaining life, not against the whole frozen tenor. An add that would outlive the session is not filled: it is returned in full, with cause 6. The SDK's add gate refuses such an add before you send it. 4. **From 20:30, a gold position is closed at the market price.** When its life has ended, anybody may mark its end (`mark_expiry`), and it is closed at the first price after a short delay from the mark (`tenorExpiry`). It is paid what it is worth, gain or loss. 5. **A position that is not settled before its session's close ends at par.** A quote signed after the close never prices a position from the session before. Such a position is closed with no quote (`lastResort`): a live position gets its stake back with no exit fee. A position already stamped at a level is paid that level, and a target level pays the exit fee. This close is refused while the oracle is frozen. See [the no-price close](https://docs.rekt.money/sdk/settling.md#the-no-price-close). **The workaround for rule 2:** read the state before you build a transaction. `availability()` reports **closing soon** together with `forceCloseAt`, the time at which positions on that market end. Poll it, or read the market's calendar directly. ## Holidays, early closes and pauses **The calendar is the regular weekly schedule. It has no holidays.** For a holiday or an early close, the venue can pause gold for that session. **The venue can also pause gold at other times.** While gold is paused, opens and adds are refused with `MarketPaused`, and closes continue. Read `market.paused`, or the market's state, and do not assume that the weekly schedule holds on every date. ## The four states A market is always in exactly one of four states. Branch on the state, not on a single `isOpen` boolean. | State | What it means | | - | - | | **Open** | Opens, adds and closes all proceed normally. | | **Closing soon** | The session is open, but **opens are refused**. Adds to a live position are accepted until its life ends, at `forceCloseAt`. | | **Closed** | The session is closed. Opens and adds are refused. A market that is always open never enters this state. | | **Halted** | A separate stop: a scheduled event window, a pause, or a feed that has stopped answering during an open session. It does not mean the session is closed. | ## Where to go next > [card] [Reading gates](https://docs.rekt.money/sdk/gates.md) > > Every refusal a market with trading hours can raise, before you send. > [card] [Error handling](https://docs.rekt.money/sdk/errors.md) > > The refusals by name and code, and whether retrying can ever help. > [card] [Opening a position](https://docs.rekt.money/sdk/opening.md) > > The transaction shape, and where an availability check belongs in it. > [card] [How it works](https://docs.rekt.money/how-it-works.md) > > The product mechanics this page assumes. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.