curl -N https://api.totalis.trade/v1/mm/quote-requests/stream \
  -H "X-API-Key: $API_KEY" \
  -H "Accept: text/event-stream"

// Native EventSource can't send an X-API-Key header — read the SSE stream
// with fetch instead (works in browsers and Node 18+).
const res = await fetch('https://api.totalis.trade/v1/mm/quote-requests/stream', {
  headers: { 'X-API-Key': API_KEY, Accept: 'text/event-stream' },
});

const reader = res.body.getReader();
const decoder = new TextDecoder();
let buffer = '';

while (true) {
  const { done, value } = await reader.read();
  if (done) break;
  buffer += decoder.decode(value, { stream: true });

  let sep;
  while ((sep = buffer.indexOf('\n\n')) !== -1) {
    const frame = buffer.slice(0, sep);
    buffer = buffer.slice(sep + 2);
    const event = frame.match(/^event: (.+)$/m)?.[1];
    const data = frame.match(/^data: (.+)$/m)?.[1];
    if (!event || !data) continue;
    const payload = JSON.parse(data);

    switch (event) {
      case 'connected':
        console.log('Connected as', payload.mm_id);
        break;

      case 'quote_request':
        // payload.bet_amount is the gross wager; price + size against net user_stake
        console.log('New request:', payload.id, payload.user_stake ?? payload.bet_amount, 'USDC');
        break;

      case 'quote_request:updated':
        // Your prior-version quote is invalidated; submit a new one
        console.log('Request updated to version', payload.version, '— re-price:', payload.id);
        break;

      case 'quote_request_expired': {
        // reason: 'committed' | 'cancelled' | 'expired'; won: true only if you were selected.
        // won may be absent on a committed close (indeterminate) — treat as unknown, not a loss.
        const { id, reason, won } = payload;
        const outcome = reason === 'committed'
          ? (won === undefined ? 'unknown' : won ? 'won' : 'lost (out-bid)')
          : reason;
        console.log('Request closed:', id, outcome);
        break;
      }

      case 'cashout_request':
        // Distinct from quote_request: the key is payload.cashout_request_id (NOT payload.id).
        // Broadcast to every MM, ~10s to bid. Re-value the position and bid ONE all-in
        // price_micro (what the user receives) on PUT /v1/mm/cashout-requests/{id}/quote.
        console.log('Cashout auction:', payload.cashout_request_id, 'position', payload.position_id);
        break;
    }
  }
}

import requests
import json

url = 'https://api.totalis.trade/v1/mm/quote-requests/stream'
headers = {
    'X-API-Key': API_KEY,
    'Accept': 'text/event-stream',
}

with requests.get(url, headers=headers, stream=True) as resp:
    event_type = None
    for line in resp.iter_lines(decode_unicode=True):
        if line.startswith('event: '):
            event_type = line[7:]
        elif line.startswith('data: '):
            payload = json.loads(line[6:])
            if event_type == 'quote_request':
                print(f"New request: {payload['id']}")
                # Price the legs and submit a quote
            elif event_type == 'quote_request:updated':
                print(f"Request {payload['id']} updated to v{payload['version']} — re-price")
                # Prior-version quote invalidated; submit a new one
            elif event_type == 'quote_request_expired':
                # reason: 'committed' | 'cancelled' | 'expired'; won True only if you were selected.
                # won may be absent on a committed close (indeterminate) — treat as unknown, not a loss.
                reason = payload.get('reason', 'expired')
                won = payload.get('won')
                if reason == 'committed':
                    outcome = 'unknown' if won is None else ('won' if won else 'lost (out-bid)')
                else:
                    outcome = reason
                print(f"Request closed: {payload['id']} — {outcome}")
            elif event_type == 'cashout_request':
                # Distinct from quote_request: the key is cashout_request_id (NOT id).
                # Broadcast to every MM, ~10s to bid. Bid ONE all-in price_micro (what the
                # user receives) on PUT /v1/mm/cashout-requests/{id}/quote.
                print(f"Cashout auction: {payload['cashout_request_id']} position {payload['position_id']}")
            event_type = None

event: connected
data: {"mm_id":"mm-uuid-1234"}

event: snapshot_begin
data: {"page_size":50}

event: quote_request
data: {"id":"1a6d1f06-9d4f-47cb-994b-3bdfbbef7e40","user_id":"did:privy:cm3abc...","input_legs":[{"market_ticker":"KXBTC-26JUN01-T72500","side":"yes","venue":"kalshi"}],"legs":[{"id":"8ccf2c5d-3a61-4707-93f2-b6f0a0f0c0c6","event_ticker":"KXBTC-26JUN01","market_ticker":"KXBTC-26JUN01-T72500","side":"yes","venue":"kalshi"}],"bet_amount":25,"user_stake":24.75,"implied_probability":0,"version":1,"request_hash":"sha256:9f86d08...","expires_at":"2026-06-01T18:45:30.000Z"}

event: snapshot_complete
data: {"pages":1,"total":3}

event: quote_request
data: {"id":"f7e8d9c0-1234-5678-abcd-ef0123456789","user_id":"did:privy:cm9xyz...","input_legs":[{"market_ticker":"KXETH-26JUN01-T3000","side":"no","venue":"kalshi"}],"legs":[{"id":"d4e5f6a7-8901-23bc-def4-567890abcdef","event_ticker":"KXETH-26JUN01","market_ticker":"KXETH-26JUN01-T3000","side":"no","venue":"kalshi"}],"bet_amount":10,"user_stake":9.90,"implied_probability":0,"version":1,"request_hash":"sha256:b5c6d7e...","expires_at":"2026-06-01T18:50:00.000Z"}

event: quote_request:updated
data: {"id":"1a6d1f06-9d4f-47cb-994b-3bdfbbef7e40","user_id":"did:privy:cm3abc...","input_legs":[{"market_ticker":"KXBTC-26JUN01-T72500","side":"yes","venue":"kalshi"}],"legs":[{"id":"8ccf2c5d-3a61-4707-93f2-b6f0a0f0c0c6","event_ticker":"KXBTC-26JUN01","market_ticker":"KXBTC-26JUN01-T72500","side":"yes","venue":"kalshi"}],"bet_amount":50,"user_stake":49.50,"implied_probability":0,"version":2,"request_hash":"sha256:3b1f9c2...","expires_at":"2026-06-01T18:46:10.000Z"}

event: quote_request_expired
data: {"id":"1a6d1f06-9d4f-47cb-994b-3bdfbbef7e40","reason":"committed","won":false}