Skip to main content
SX Bet locks tokens in escrow when you place a bet and releases them at settlement. Capital efficiency (CE) short-circuits that: when your positions within a market offset each other, the exchange calculates your true worst-case loss and returns the excess escrow to your wallet immediately — at fill time, without waiting for the market to settle. It is automatic: there is nothing to opt into and no endpoint to call.

​
How it works

Every market pool has a worst-case loss that escrow must cover. On each fill, the exchange recomputes that worst case across all of your open positions in the pool, and refunds anything held above it. The recalculation runs for every party to the trade — makers and takers alike, not just the taker who triggered it. If your worst case has dropped, escrow adjusts down to match and releases the excess to your wallet in the same on-chain batch that locks the fill.

​
Example

You bet 100 USDC on outcome one at even odds (50% implied) — a win returns 200, so your worst case is the 100 you staked, and 100 stays locked. Later you bet 100 USDC on outcome two in the same market, also at even odds. Now one side always pays the other, so your worst-case net loss is 0. The exchange recalculates and refunds the full 200 USDC on the second fill.

​
Tracking CE refunds

Refunds are reported as fields on rows you already read, not through a dedicated endpoint or channel:
  • Per bet — ceRefundAmount on GET /trades-v3.
  • Per fill — ceRefundAmount on GET /fills-v3.
  • Realtime — the affected rows are republished on the trades and fills channels with new ceRefundAmount values and a fresh updatedAt. There is no separate “refund happened” event.
ceRefundAmount is post-fee — the amount you actually received. ceRefundFeeAmount is the fee taken on that refund.

​
P&L accounting

CE refunds return to your wallet before settlement, so they are not in settleReturnAmount. When reconciling P&L for a market that issued refunds, add them back in:
settleCeRefundAmount on the settlement object is a different number — the refund consumed against your gross payout at settlement, not what you received. P&L uses the received figure.
Do not add refunds on top of a figure that already includes them. The pnl field on GET /positions-v3?status=SETTLED is settleReturnAmount + ceRefundAmount − totalStake, with the refund already in it.

Reconciling fills

Where to find the refund on each leg.

Tracking positions

Netted exposure — the same idea, read-only.

Parlays

The other meaning of ceRefundAmount.

Quarter-line markets

Why one bet produces two refund calculations.
Last modified on August 11, 2026