Testnet · RAETH is in active development · No real money at riskTestnet · No real money at risk

Opening RAETH

Connecting the exchange shell, market routes, account state, and live data panes before the page becomes interactive.

Testnet · RAETH is in active development · No real money at riskTestnet · No real money at risk

Swagger UI

User Guide Developer API API Reference

Market vs Limit Orders

Two ways to trade the same book: name your price and wait, or take the best price on offer right now. The choice decides whether you pay fees or earn them, and whether your order can rest on the book at all.

Limit orders — set your price

A LIMIT order names the price you are willing to trade at. If nobody is offering that price yet, it rests on the book at your level and waits — until it fills, you cancel it, or the market expires. When a resting order is filled you traded as the maker: maker fees are zero, and each maker fill earns a rebate credited straight to cash (see Fees & Rewards).

One nuance: a limit order priced through the spread (a buy at or above the best ask) fills immediately against resting orders — that part of it trades as the taker and pays the taker fee. To guarantee you only ever make, use the POST_ONLY time-in-force below.

Market orders — take what is there

A MARKET order fills immediately at the best available price, walking the book level by level until the full size is done or price protection is reached. Worked example — the book shows asks of 10 contracts each at 46¢, 47¢, and 48¢:

A market buy of 30 takes the best ask first: 10 fill at 46¢.
It walks to the next level: 10 fill at 47¢, then 10 at 48¢.
Result: 30 contracts at an average price of 47¢ — worse than the 46¢ touch you saw, because your own order consumed the book.

Market orders pay the taker fee on executed notional, and they carry price protection that limits how far the sweep may walk from the touch — in cents for binaries, in basis points for perps (details on the Order Types & Matching page). If the opposite side of the book is completely empty, a market order is rejected rather than parked.

Warning

MARKET orders never rest. Whatever cannot fill immediately — because the book ran out of size or the sweep hit price protection — is cancelled, not left on the book. If you want the remainder working, place a LIMIT order instead.

When to use which

Use a limit order when you care about price more than immediacy: you fill at your price or better, pay nothing, and earn the rebate — the cost is that you may not fill at all. Use a market order when you care about immediacy more than price: closing out before a window expires, reacting to news, or flattening risk — the cost is the taker fee plus whatever the sweep walks.

Time-in-force, in plain words

GTC (good-till-cancelled) — the default for limit orders. Rests until it fills, you cancel it, or the market expires.
IOC (immediate-or-cancel) — fill whatever you can right now, cancel the rest. Market orders always behave this way.
FOK (fill-or-kill) — fill the entire order in one shot or do nothing at all. No partial fills ever.
POST_ONLY — maker-only. If the order would cross the spread and fill immediately, it is rejected instead, so it can never accidentally pay the taker fee.

Tip

Before committing, the ticket previews the order — estimated fill price, margin, fees, and worst case — using the same dry-run the API exposes as POST /orders/preview.