Markets BetweenMarkets.
Trade the relative performance of stocks and ETFs. One asset wins. One market settles it.
The Relative Market
Up or down is
the wrong question.
NVDA wins.
MERC doesn’t care whether markets rise or fall. It measures which asset performed better.
MERC Markets
Pick a side.
Two assets enter every market. Buy the one you expect to outperform. Winning shares settle at $1.
No strike prices
Binary outcome
No funding rates
Fixed expiry
No liquidation
Max loss = cost
No direction required
Red market.
Still right.
Your trade is against another asset — not against the entire market. NVDA doesn’t need to go up. It only needs to beat QQQ.
Live MERCs
Find your trade.
How It Works
Two assets.
One winner.
Every MERC starts with two markets.
Any stock or ETF against any other. A MERC is Asset A, Asset B and an expiry — nothing else.
Buy the side you believe will outperform.
Prices are implied probabilities. 64¢ means the market prices NVDA as the 64% favourite. Your maximum loss is what you paid.
Relative performance determines the winner.
At expiry, MERC reads both start prices and both end prices. The better performer settles at $1. The other settles at zero.
Onchain Settlement
Settlement without opinion.
Start price. End price. Relative performance. Done. No committees, no discretionary resolution, no thin pool to push around.