> For clean Markdown of any page, append .md to the page URL.
> For a complete documentation index, see https://docs.paradex.trade/llms.txt.
> For AI client integration (Claude Code, Cursor, etc.), connect to the MCP server at https://docs.paradex.trade/_mcp/server.

# Naming Convention

> Understanding the naming convention for spot markets and perpetual markets on Paradex

* Spot markets symbol use the following format: **`<BASE_CURRENCY>-<QUOTE_CURRENCY>`**
* The base currency is the asset being traded.
* The quote currency is the currency used for pricing.

**Example**

* ETH spot market: `ETH-USD`
* ETH perpetual market: `ETH-USD-PERP`

Note: even if quoted in USD, trades are still settled in USDC, using the prevailing USDC/USD price