> For the complete documentation index, see [llms.txt](https://docs.duels.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.duels.trade/getting-started/how-it-works.md).

# What is duels.trade?

duels.trade combines a full trading interface with competitive, timed trading formats.

## Trading

The **Trade** area lets you select markets, view charts and market data, place orders, manage leverage, monitor positions, and review open orders and trade history.

## Duels

A duel has:

* A mode
* An Entry Amount
* A player limit
* A duration
* A reward
* Public or private visibility
* Mode-specific scoring and risk rules

The normal duel flow is:

1. Find a duel through **Quick Match**, **Public Lobby**, or an invite code.
2. Review the mode, Entry Amount, Reward, Duration, and players.
3. Join and enter the **Duel Lobby**.
4. Complete any required wallet approvals.
5. Mark yourself **Ready**.
6. Trade during the live duel.
7. Receive final placement, reward information, and an Aura update.

## The three modes

* **Portfolio Duel** compares percentage gain while you trade your real Hyperliquid portfolio.
* **Kingmaker** uses real USDC in dedicated Duel Wallets and enforces a selected Max Drawdown.
* **Funded Duel** uses $1,000 virtual capital for trading while the Entry Amount and Reward remain real USDC.

Each mode has different settlement fees and scoring. See [Compare duel modes](/duel-modes/game-modes.md) and [Fee schedule](/fees-and-rewards/fee-schedule.md).


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