How to Use Polymarket: A Practical Starter Guide
How to use Polymarket starts with understanding markets, outcomes, and the CLOB order book. Polymarket is a prediction-market exchange on Polygon where shares for outcomes trade in pUSD and resolve via UMA; binary prices sum to $1.00. This guide focuses on practical steps you can take right away and highlights how PolyArb (our arbitrage bot) plugs into that workflow with 40ms latency, $7.62 minimum guaranteed edge, Telegram and Discord alerts, and a non-custodial, live product.
Getting set up on Polymarket
Connect a wallet supported by Polymarket (MetaMask, Rabby, Coinbase, etc.) and hold pUSD to trade. Polymarket uses the Gnosis Conditional Token Framework for outcome tokens; split/merge/redeem are the on-chain CTF operations that mint and settle complete sets. Gas is sponsored through Polymarket's Relayer, so you won’t manage gas directly.
Placing trades and reading the CLOB
Polymarket matches orders on a Central Limit Order Book (CLOB). Use limit orders to control price or FAK market orders for immediate execution with slippage protection. For binaries, remember fair values sum to $1.00 — combinatorial arbitrage looks for Σ bestAsk < $1.00. Watch tick size changes and best_bid_ask events from the market WebSocket for real-time signals.
Risk and settlement considerations
No trade is without risk. Important risks include UMA resolution disputes that can delay settlement, partial fills and slippage on thin markets, changing taker fees, and smart-contract risk. Polymarket's fees vary by category and maker fees are zero; confirm the taker fee before trading. After resolution, redeem winning outcome tokens for $1.00 each via the CTF.
Using PolyArb to find and act on opportunities
PolyArb is a non-custodial arbitrage bot built for Polymarket traders. For $99/month you get 40ms latency (vs ~800ms for many free bots), Telegram and Discord alerts, and a guaranteed minimum edge of $7.62 per qualifying trade. PolyArb automates intra-market binary and multi-outcome buys and notifies you in real time so you can route or execute quickly while still monitoring risk.
Get PolyArb and start spotting opportunities
Subscribe to PolyArb for $99/month to receive low-latency alerts, non-custodial automation, and the platform's guaranteed minimum edge. Live today with Telegram and Discord notifications.
FAQ
- Do I need gas to trade on Polymarket?
- No. Polymarket sponsors gas via its Relayer model, so wallet deployment, approvals, and trades are gasless for end users.
- Can I use PolyArb to trade other platforms like Kalshi or PredictIt?
- PolyArb is focused on intra-Polymarket arbitrage. Cross-platform arbitrage (Kalshi, PredictIt, Manifold) is outside the product's scope.
- What does the $7.62 minimum guaranteed edge mean?
- PolyArb advertises a $7.62 minimum guaranteed edge per qualifying trade as part of its subscription benefits; check PolyArb terms for qualification rules and any exclusions.
- Are trades on Polymarket risk-free?
- No. While mathematical spreads can look like guaranteed profit, risks remain: resolution disputes, settlement timing, slippage, fees, and smart-contract or regulatory issues.