Overview
The RFQ (Request for Quote) system enables quote-based trade execution by allowing users to request prices from market makers.The RFQ system is currently in early alpha and requires onboarding. Contact support@polymarket.com to request access.
Roles
Requesters
- Create Requests: unsigned intents to buy or sell outcome tokens
- Anyone may originate Requests from the Polymarket site or API
Quoters
- Respond to Requests with Quotes: unsigned intents to fill those Requests
- Must be onboarded into the RFQ system by address
- Compete to offer the best price
High-Level Lifecycle
-
Requester creates a Request to BUY or SELL outcome tokens
- This initiates an auction to the community of Quoters
- Quoter A creates a Quote responding to the Request
- Quoter B submits a better Quote (e.g., cheaper price)
-
Requester selects and accepts a Quote
- An Order is automatically created, which the Requester signs
- A timer begins: the Quoter must approve within the defined window
-
Selected Quoter has last look
- If approved: another Order is created, which the Quoter signs
- If not approved within timeframe: RFQ is rejected
- If approved: RFQ is executed onchain
System Parameters
The RFQ API is served from the CLOB API host athttps://clob.polymarket.com under the /rfq path (e.g. GET /rfq/data/requests).
| Parameter | Value | Description |
|---|---|---|
| Last Look | Enabled | Quoters have a final decision window before committing |
| RequestTTL | 10 minutes | How long a Request is live before auto-expiration |
| QuoteAcceptTTL | 10 seconds | Time for Quoter to approve after Requester accepts |
| MultiRequestEnabled | false | Requester can only have 1 active Request at a time |
| QuoteRestrictionMode | OneQuotePerRequestPerMarket | Quoter can only have 1 active Quote per market |
State Transitions
Request States
| State | Description |
|---|---|
STATE_ACCEPTING_QUOTES | Request is live, accepting quotes from market makers |
STATE_QUOTE_ACCEPTED | Requester accepted a quote, waiting for Quoter approval |
STATE_MAKER_ORDER_APPROVED | Quoter approved, pending onchain execution |
STATE_COMPLETED | Successfully executed onchain |
STATE_USER_CANCELED | Requester canceled the request |
STATE_INTERNAL_CANCELED | System canceled the request |
STATE_REQUEST_EXPIRED | Request TTL expired |
STATE_REQUEST_EXECUTION_FAILED | Onchain execution failed |
Quote States
| State | Description |
|---|---|
STATE_REQUEST_QUOTED | Quote submitted, waiting for Requester decision |
STATE_REQUEST_ACCEPTED_QUOTE | Requester accepted this quote, last look timer started |
STATE_MAKER_APPROVED | Quoter approved, pending execution |
STATE_COMPLETED | Successfully executed |
STATE_MAKER_CANCELED | Quoter canceled their quote |
STATE_REQUEST_CANCELED | Parent request was canceled |
STATE_REQUEST_EXPIRED | Parent request expired |
STATE_EXECUTION_FAILED | Onchain execution failed |
STATE_MAKER_REJECTED_CANCELED | Quoter rejected during last look |
STATE_MAKER_REJECTED_EXPIRED | Quoter did not respond during last look window |
Authentication
All RFQ endpoints use L2 Auth from the Polymarket CLOB API. See CLOB Authentication for details on generating and using API credentials.Next Steps
RFQ API Reference
Complete endpoint documentation
CLOB Authentication
Set up API credentials for RFQ access