Title: Huobi derivatives & market orders Post by: DavideBaldini on July 31, 2021, 08:41:57 PM Huobi's futures and perpetual swaps seem to only allow entering limit orders with no option for market orders.
From the documentation page Trading Rules of Perpetual Swaps (https://www.huobi.com/support/en-us/detail/900000088923) only these type of orders are listed:
Which inordinately belong all to the limit class of order. The documentation doesn't afford to list market orders. This shortcoming seems to be confirmed by the trading panel itself: screenshot (https://i.imgur.com/oVOpVIl.png). Incidentally the order book consistently maintains an abnormal concentration of volume close to the spread, suggesting the intention to execute these limit orders ASAP. The lack of market orders also inherently suggests heavy participation of Huobi in an internal dealing desk. Title: Re: Huobi derivatives & market orders Post by: JeromeTash on July 31, 2021, 09:55:44 PM Is this even possible?
How does a market size without Market orders? In every market I have seen in the past, we have Makers and Takers. Without one of the 2, the market becomes iliquid. I think it's just the terminology used there that's a little confusing. BBO (Best Bid Offer) order, Optimal Top N BBO Price Order and Flash close all probably fall under the market order types. Even the limit order, when Post only is unchecked can end up getting filled as a market order Title: Re: Huobi derivatives & market orders Post by: DavideBaldini on July 31, 2021, 11:23:06 PM It is technically possible to have this type of market, if the limit orders are triggered by:
In such case the exchange would need to actively deal with automatic deleverage to keep the open interest of long and short positions sufficiently similar, and pay users' gains out of pocket while collecting payments from their losses. Regarding BBO orders, this is the entirety of my discussion with customer care, which explain that BBO is a shortcut functionality to submit a limit order and set its price equal to the best entry currently listed in the order book. (When I wrote this I understood BBOs as market orders.)
However, I just read the tooltip text for the "post only" checkbox option available under limit orders, which contrarily to the documentation asserts that market execution is possible: Quote from: tooltip Post-only orders will not be immediately executed in the market, thus ensuring the trader remains a maker. If the order is immediately matched with an existing order in the market, the post-only order will be cancelled Title: Re: Huobi derivatives & market orders Post by: JeromeTash on August 01, 2021, 06:41:35 AM Basing on the replies, I am thinking it's BBO only that they are using more fancy and confusing words to a trader who is used to how direct other exchange are with market orders. The Customer service assist also doesn't seem to get enough explanation to you in regard to the execution of BBO when you asked him in the second part.
But BBO doesn't let you determine the price you want to buy or sell, just like the Market order. However, I just read the tooltip text for the "post only" checkbox option available under limit orders, which contrarily to the documentation asserts that market execution is possible: If it's checked, it will not immediately execute on the market , but it if the market price swings just as you are creating the order, it gets cancelled. However, if you open a limit order where post only remains unchecked, if the market swings just as you are creating your order, it will get filled at the market priceQuote from: tooltip Post-only orders will not be immediately executed in the market, thus ensuring the trader remains a maker. If the order is immediately matched with an existing order in the market, the post-only order will be cancelled Title: Re: Huobi derivatives & market orders Post by: DavideBaldini on August 02, 2021, 11:12:01 PM I was confirmed today that only limit orders can be submitted to Huobi:
Title: Re: Huobi derivatives & market orders Post by: Bitcoin_Arena on August 03, 2021, 08:06:18 AM I was confirmed today that only limit orders can be submitted to Huobi: I have never traded derivatives in Huobi, but I do use their spot market sometimes and over there, everything is normal with an option of market order.I still wonder why they try to make their Derivatives market different from the rest. If I was in your position. I would just look for alternatives, which are so many like; Kucoin Okex Bybit FTX Phemex Title: Re: Huobi derivatives & market orders Post by: DavideBaldini on August 03, 2021, 12:49:52 PM Yes their spot works normally. I insisted on Huobi because I already "sunk cost" there by passing KYC, required to even access the derivatives trading panel, and by reading their docs.
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