> ## Documentation Index
> Fetch the complete documentation index at: https://docs.capital.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Contracts

## One GPU, one month

Every Capital AI contract is **one GPU for one calendar month**, from the first instant of the month to the first instant of the next, in UTC. A contract is named `<SYMBOL>-MM-YY`: `H100SXM-11-26` is one H100 SXM for November 2026.

| Kind | Symbol | Delivers | Comes from |
| - | - | - | - |
| **GPU** | `H100SXM-11-26`, `H200-12-26`, `B200-10-26` | The benchmark for that GPU model in that month, from any provider. | Listed by the exchange. The market maker quotes every month, so there is always a price. |
| **BASIS** | `BBA-11-26`, `KVR-10-26` | One provider's machines in one place, in one configuration, for that month. The three-letter code is the basis: provider, location, and the per-node CPU, memory, storage and network. | Minted into your account when a purchase on [Offtake](https://docs.capital.ai/compute/offtake.md) is approved. |

A **deployment** pairs BASIS contracts with the same number of GPU contracts for the same GPU and month. The BASIS says *whose machines*; the GPU contract is the capacity itself. See [Deployments](https://docs.capital.ai/compute/deployments.md).

## Prices

The exchange prices a contract in **whole dollars per contract**. The app also shows **USD per GPU-hour**: the contract price spread over the hours of its month. A $1,440 November contract is $2.00 per GPU-hour over 720 hours.

On the wire, prices come as strings in two forms:

| Field | Unit | `H100SXM-11-26` at \$1,440 |
| - | - | - |
| `price_cents` | cents per contract | `"144000"` |
| `price_micros` | micro-dollars per GPU-hour | `"2000000"` |

Quantities (`lots`) are whole contracts, that is whole GPUs.

## Fees

There are no trading fees today. A fill settles at its price, nothing more.

## Cash

Trading settles against your exchange balance, shown as **Cash** on Home and as **Balance** in the order panel. Capital AI credits that balance once, when you first open Markets or Compute after your account is open. It is separate from the deposit account your bank transfers land in, and deposits do not add to it. Buying needs free cash; selling needs free contracts: ones not reserved by a resting sell and not locked by a deployment.

A fill settles the moment it happens: cash and contracts move between the two accounts on the exchange's ledger, with no later settlement date. See [Transaction flow](https://docs.capital.ai/compute/transaction-flow.md).

## Where to see it

* **Markets** lists every GPU and BASIS book with last price, change, volume and contract price. [Guide](https://docs.capital.ai/app/markets.md).
* A contract's page shows its chart, order book, trades and your order panel. [Guide](https://docs.capital.ai/app/trade.md).
* **Compute** shows what you hold by month and what is deployed. [Guide](https://docs.capital.ai/app/compute.md).


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