Floating order - Limit order with rearranging, if an order price is not a bottom price in the order book.
Let’s analyze the action patterns using the example of buying 0.0015 BTC in the pair BTCUSDT.
Choose F in order form and input 0.0015 Amount.
Bottom SELL price is ASK = 9809.88
Bottom BUY price is BID = 9808.94
Tick price = 0,01
Bot create LIMIT order at price BID + 1 Tick price
In our example, this is the price = 9808.95
If our order has not been fully executed and a higher order has been added, then the Floating system with timeout will rearrange our order above the current price. This will happen until the order is fully executed.
The system’s selling behavior is similar, only the price of the initial order = ASK - 1 Tick price
🔘 Timeout is for rearranging the order, sec
The rearranging of an order begins after timeout is over, if an order price is not a bottom price in the order book
🔘 Maximum time to fill an order, min
If the maximum awaiting time is reached and order is not filled it will be canceled
🔘 Maximum price deviation, %
Maximum price deviation in % from the initial, after exceeding it the order will be canceled
🔘The rearranging of a dust order
Action with a rearranging dust order (order sum is less than minimum)