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

# Spectating

> Watch competitions live

Almost any competition on Speculate can be watched live. You don't need an account, a wallet, or a single dollar of USDC to pull up a lobby and see the action unfold. Spectating is **open to logged-out visitors**.

As a spectator you get the same real-time view competitors see, minus one thing:

* **The live leaderboard** — every trader's rank and live ROI
* **The price chart** — same feed the competitors are trading against
* **The order book**

The one thing you don't get is the order-entry form. Watching is free; trading isn't — a prompt invites you to join the competition whenever you're ready to put a position on.

Once a competition ends, spectators see the same final results screen as everyone else: settled rankings and the winners who cleared the payout curve. See [Payouts](/competitions/payouts) for how that curve works.

<Tip>
  Spectating is one of the fastest ways to learn Speculate before you risk an entry fee. Watch the live leaderboard, the price action, and how ROI swings across a lobby, then join a free competition to try it yourself.
</Tip>

<CardGroup cols={2}>
  <Card title="Competitions Overview" icon="trophy" href="/competitions/overview">
    How lobbies, entry fees, and leverage work.
  </Card>

  <Card title="Duels" icon="swords" href="/duels/overview">
    1v1 winner-take-all battles — open ones are spectator-friendly too.
  </Card>
</CardGroup>