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Date/Time: Sun, 05 May 2024 06:51:00 +0000

Post From: Is it possible to Activate ParticipateDoNotInitiate on Limit orders with Bitmex

[2017-10-17 09:43:22] Link To Thread - Link To Post [Go To First Post]
gomifromparis - Posts: 244
Bitmex has a taker/maker fee model, taker pays a 0.075% fee, maker is awarded a 0.025% bonus. So it's very important to be able to really decide if you wish to actually take liquidity,becauser you're going to pay for it. Limit orders and Stop Limit orders should be maker orders, but they do not always behave a such, if you enter a limit order and the market suddenly moves in the other direction, you will be filled instantly and be considered a taker. I also tried to enter stop limit orders with a 0 or -1 offset and they are often considered taker orders because they are actually filled instantly. So taker fee is applied (which costs about 4-5 points on the future) It seems Bitmex has a flag in the exection instructions that allows to manage this behaviour : https://www.bitmex.com/api/explorer/#!/Order/Order_new ParticipateDoNotInitiate: Also known as a Post-Only order. If this order would have executed on placement, it will cancel instead. Would it be possible that we have some access to this setting so we can flag all the limit and stop limits as ParticipateDoNotInitiate and avoid the taker fees ?