> For the complete documentation index, see [llms.txt](https://inferra.gitbook.io/inferra-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://inferra.gitbook.io/inferra-docs/inferra-terminal/overview.md).

# Overview

The Inferra terminal is where you trade the price of GPU time. Every GPU model carries a live price per hour, the [GPU-hour index](/inferra-docs/the-ecosystem/the-gpu-hour-index.md), and the terminal lets you take a position on it, long or short, spot or leveraged.

Think of it as a trading floor for the cost of compute. A team that expects to buy a lot of GPU time can hedge the price. A provider can lock in forward revenue. A trader can take a view on where the cost of compute is going.

### What you can do

* **Spot.** Buy and sell the GPU-hour at its current rate, across six markets, one per GPU model. See [Spot markets](/inferra-docs/inferra-terminal/spot-markets.md).
* **Perpetuals and futures.** Go long or short with leverage, cash-settled against the index, with the protocol as your counterparty so you can always open and close. See [Perpetuals and futures](/inferra-docs/inferra-terminal/perpetuals-and-futures.md).
* **Staking.** Stake $INFERRA to earn a share of protocol fees. See [Staking and buyback](/inferra-docs/inferra-terminal/staking-and-buyback.md).

### One price, both sides

The terminal trades the same price the marketplace charges. When someone rents an A5000 on [Inferra Cloud](/inferra-docs/inferra-cloud/overview.md), that real demand feeds the price, and trading the price is how the market decides what an hour of compute is worth. The exchange and the marketplace are two views of one number.

Your positions, balances, and running profit and loss live in your portfolio, on the same wallet you use to rent compute.


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