Hedging desk
Buy protection on a custom outcome, over-the-counter. You choose how much cover you want, source live quotes from market-maker desks, and execute a single order that fills across many of them at once — no gas, settled on-chain. Built for the buyer taking protection; the desks quote the other side.
- 1Size the cover you want
- 2Get live quotes from desks
- 3Execute one order
Real Vega CFIllustrative
Relegation cover · La Liga 2025/26
18thpos24pts5from safety8to play
DEMO
Settles in46d 05h 12m 00s
Implied prob▼0.10
28.00%
Premium
€287,420
for €1.00M cover
Cover
€1.00M
pays if relegated
Breakeven
28.74%
blended relegation p
Counterparties
6
of 8 live
Mark-to-market
—
no position
1 · Size the cover
Cover notional€1,000,000
€250k€5.00M
Premium you pay
€287,420
Pays out €1,000,000 if Real Vega CF is relegated.
Implied prob
28.00%
Blended ask
28.74%
Desks swept
6
2 · Quotes & fill
28.2%
28.4%
28.6%
28.8%
29.1%
Filled €1.00M across 6 counterparties @ 28.74% blendedpremium €287,420
CounterpartySizePrice% fill
Nordic Book€120k28.22%12.0%
Iberia Capital€160k28.38%16.0%
Meridian Risk€180k28.58%18.0%
Atlas Re€220k28.82%22.0%
Catalan Structured€260k29.10%26.0%
Pooled VaultVAULT€60k29.40%6.0%
Get quotes to reveal how your order fills
3 · Execute
You pay
€287,420
For cover
€1.00M
Free in escrow
—
Implied relegation probability
▼ 0.10%28.00%
hi 29.39%lo 26.90%
Payoff · P&L vs implied probability
full-collateral Relegated · YES
+€712,580
cover received, net of premium
Safe · NO
−€287,420
premium paid — the cost of insurance
Live quote board
depth €6.34MCounterpartyAskSizeAge
Nordic Book28.22%€120know
Iberia Capital28.38%€160k1s ago
Meridian Risk28.58%€180k2s ago
Atlas Re28.82%€220k3s ago
Catalan Structured29.10%€260k5s ago
Pooled VaultVAULT29.40%€1.40Mnow
LaLiga Syndicate29.80%€1.60M8s ago
Delta Hedge30.30%€2.40M11s ago
Counterparty flow
streamingQUOTENordic Book quoted €120k @ 28.22%now
IMPROVEIberia Capital improved to 28.38%1s ago
MATCHMatch result · held at home · +160 bps4s ago
QUOTEAtlas Re quoted €220k @ 28.82%5s ago
PULLDelta Hedge pulled €180k8s ago
QUOTEPooled Vault quoted €1.40M @ 29.40%12s ago
Settlement & risk
optimistic oracle- 1Both sides escrow full collateral into RiskEscrow — the pot equals the cover.
- 2At season end a keeper posts the La Liga outcome to the optimistic oracle.
- 31-hour dispute window; a challenge escalates to arbitration, else it finalizes.
- 4Winning side redeems the pot gaslessly via a co-signed claim.
ScenarioClub P&LSellers P&L
Relegated+€712,580−€712,580
Safe−€287,420+€287,420
Club posts (premium)
€287,420
Sellers post
€712,580
Pot in escrow
€1,000,000
Custody
RiskEscrow