When you create a live portfolio you choose where it executes. The choice is permanent for that portfolio because its trades live on that venue; open a second portfolio any time to trade the other one.

• Polymarket: orders are built by Orca and signed in your own browser wallet. Your funds are USDC in your Polymarket account on Polygon, and your keys never leave your wallet. Minimum order $5.
• Kalshi: orders are signed server-side with an API key you create in your Kalshi account. Kalshi is a US-regulated exchange, so there is no wallet involved. Minimum order $1.

Both flows need the account connected once before the first trade. See Connecting accounts.

1. Open the live portfolio and click Trade. The picker shows the portfolio's venue: Polymarket portfolios search Polymarket events, Kalshi portfolios search Kalshi's open markets.
2. Pick a market, choose Yes or No, and enter a dollar amount. The panel shows the expected fill price, how many shares or contracts that buys, the estimated cost, and your profit if the position wins.
3. Confirm. On Polymarket your wallet prompts you to sign; on Kalshi the order is placed immediately with your stored key.

Selling works from the positions table: click Sell on a position, enter how many contracts or shares, and confirm. You can never sell more than you hold; the server checks your live position before placing anything.

• Orca sends marketable limit orders that fill immediately or cancel. Nothing ever rests on the book, so you will not find forgotten open orders on Kalshi later.
• Kalshi charges a trading fee of 7% of price times (1 minus price) per contract. Orca folds the fee into every estimate, and buys are sized so the total including fees never exceeds the dollar amount you entered.
• Some Kalshi markets support fractional contracts; on the rest, buys round down to whole contracts.
• If the book moves while your order is in flight, whatever cannot fill at your price is canceled and the panel tells you how much filled.

The chart on a live portfolio is your real account value, cash plus positions, over time.

• Polymarket: built from your wallet's profit and loss history, anchored to your current account value.
• Kalshi: Kalshi does not expose account history, so Orca records the value itself: a snapshot every hour plus one whenever you open the portfolio. On first connect, Orca reconstructs your past curve from your fill and settlement history so the chart is not empty.
• Deposits and withdrawals on Kalshi are detected and kept out of the return math, so moving cash in or out never shows up as profit or loss.

• Live portfolios start the day you create them and cannot backdate. If you want to test a strategy against history, use a paper portfolio with a past start date.
• Orca never holds your funds. Polymarket funds stay in your wallet's Polymarket account; Kalshi funds stay on Kalshi.
• Sharing a live portfolio publishes a read-only view of your real balance and positions to anyone with the link.