> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fairground.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

### What is Fairground?

Fairground is a decentralized perpetuals exchange with no periodic funding payments. Traders can take leveraged long or short positions across crypto and real-world markets. Orders execute at a single reference price, removing the visible bid/ask spread from the execution model. By removing periodic funding payments, Fairground simplifies the economics of holding a perpetual position and gives traders greater visibility into the costs of maintaining their exposure.

### What is a good trade to place on Fairground?

Fairground is designed for trades where you want leveraged market exposure without periodic funding payments impacting the economics of your position.

That can be particularly useful when:

* **Funding costs elsewhere would work against your trade.** If the market view makes sense but recurring funding payments would add an ongoing cost to the position, Fairground removes that variable.
* **You want to take a directional long or short position.** There are no periodic funding payments, so funding does not add an ongoing cost while the position remains open.
* **You want to hold a position without being penalized over time.** Whether the trade is open for a short period or longer, there is no recurring funding payment simply for maintaining the position.
* **You are using Fairground as one leg of a hedge.** Removing periodic funding payments can make the economics of maintaining that exposure more predictable, particularly when a hedge needs to remain in place.
* **Your position helps balance the market.** Fairground offers upside-only rebates when your position helps balance long and short exposure. Rebates are always positive, never negative, so eligible positions can accrue rebates while they remain open without creating an additional charge.

Fairground removes periodic funding payments as a variable in leveraged trading, while creating the opportunity for positive rebates when a position helps balance the market.