> ## 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.

# Protocol Overview

> Fairground perpetuals exchange with fixed fees, no funding rates, and one oracle price.

Fairground is a decentralized perpetuals exchange on Arbitrum. One oracle price, fixed fees, no funding rates—and rebates when you take the minority side.

<Columns cols={2}>
  <Card title="Get started" icon="wallet" href="/trading/onboarding">
    Connect a wallet, add USDC and ETH on Arbitrum, and start trading.
  </Card>

  <Card title="Orders" icon="arrow-right-arrow-left" href="/trading/orders">
    Place, cancel, and manage orders. Add or remove margin on positions.
  </Card>

  <Card title="Pricing" icon="dollar-sign" href="/trading/pricing">
    One price per market—no mark/index split. Simpler and transparent.
  </Card>

  <Card title="Fees & rebates" icon="percent" href="/trading/fees-rebates">
    Fixed 4.5 bps per trade. Earn rebates when you provide the minority side.
  </Card>
</Columns>

## Advanced trading

<Columns cols={2}>
  <Card title="Order matching" icon="merge" href="/trading/advanced/order-matching">
    How reduce and increase orders are matched.
  </Card>

  <Card title="Liquidation" icon="triangle-exclamation" href="/trading/advanced/liquidation">
    When positions are liquidated and how it works.
  </Card>

  <Card title="Insurance fund" icon="shield" href="/trading/advanced/insurance-fund">
    Protocol backstop for undercollateralized positions.
  </Card>

  <Card title="ADL" icon="users" href="/trading/advanced/adl">
    Auto-deleveraging when the insurance fund is depleted.
  </Card>
</Columns>

<Card title="Glossary" icon="book-open" href="/trading/advanced/glossary">
  Definitions for protocol terms.
</Card>

## Earn

<Columns cols={2}>
  <Card title="XP Program" icon="award" href="/earn/xp-program">
    Season 0 XP program and earn rewards.
  </Card>

  <Card title="Market Makers / LPs" icon="chart-line-up" href="/earn/market-makers-lps">
    Market making and liquidity provisioning.
  </Card>
</Columns>

## Developer Docs

<Card title="Developer Docs" icon="square-terminal" href="/developers/overview">
  API reference, SDK, and integration guides for building on Fairground.
</Card>