# PAX Markets

> The Future of Crypto Exchange

PAX Markets is a cryptocurrency exchange that offers zero-fee trading with cash-back rebates and a patented λ API for ultra-low latency order placement.

PAX Markets enables retail and institutional traders to buy and sell digital assets without paying standard exchange fees. Users can trade via web, mobile, or API at zero cost with cash-back rebates, or access the paid-tier λ API to place orders automatically when specified market conditions are met. The exchange operates an off-chain central limit order book with price-time priority matching and holds client assets through a third-party qualified custodian.

- Type: Company
- Sector: Finance
- Status: Active
- Founded: 2024-01-01
- Profile: https://thegrid.id/profiles/pax_markets

## Products

- [PAX Markets](https://thegrid.id/profiles/pax_markets): PAX Markets is a centralized digital asset exchange operating a central limit order book and a proprietary λ (Lambda) Book with a price-time priority matching engine. All trading is conducted off-chain, with digital assets held in custody by a third-party qualified custodian on behalf of clients.

The exchange offers two account tiers. The free tier provides zero-fee trading with rebates paid when orders interact with paid-tier counterparties. The paid tier grants access to the λ API, a patented event-driven order placement system where traders submit λ programs — event predicate and underlying-order pairs — that place orders automatically when specified market conditions are met. λ programs can respond to both local PAX order book events and remote market data from external venues. Paid-tier fees are assessed per filled order and settled in USDT or USDC.

The platform supports limit orders with GTC and IOC time-in-force parameters. Access is available via a web application, mobile applications, and WebSocket (Centralised Exchange, Early access, Main Product)

## Links

- [Main](https://pax.markets)
- [Blog](https://pax.markets/blog)
- [Terms of Service](https://pax.markets/legal/terms)
- [Privacy policy](https://pax.markets/legal/privacy)
- [Twitter / X](https://x.com/pax_pax_pax)
- [LinkedIn](https://www.linkedin.com/company/pax-markets)

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- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
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- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP