Coinbase Pro Limit orders. No fees right?

[alex_85]

Hi guys , i do some trading with a trading bot that i developed myself.
For example

Step 1 Placing Limit order to buy 1 coin for 10 EUR
When that order from Step 1 is filled go to Step 2

Step 2 Placing Limit order to sell that coin for 10.10 EUR (10 cent profit)
When that order is willed we have 10 cents profit.


What i noticed...

For example my Available EUR Balance is 25 Euro before all steps.

Step 1 , buying 1 coin for 10 EUR..... Availablce balance 15 EUR, Great!
Step 2 , selling 1 coin for 10.10 EUR....Available balance should be 25.10 (10 cents profit) but its not!!! Its 25.07 (7 cents profit)

Limit orders as i know are with 0% fees right? Then whats happening???
I also see my filled orders and it says FEE:0.00

Thanks

[hugeblack]

Forgive me, your question seems to be a little distracted, maybe if you're more specific we'll help you.
What I understand is that you get 25.07 instead of 25.10 in Coinbase Pro's account, is that true?

If you talk about the fees, communicating with the support team will give you a better answer, especially as you are dealing with a famous platform.
From the site[1], the taker Fee is 0.30% Up to $10m.

[1] https://support.pro.coinbase.com/customer/en/portal/articles/2945310-fees

[alex_85]

yes exactly, you understood me very well, that was what i mine.
As i am placing limit orders i am the market MAKER so the fee should be 0%
But i am buying for lets say 10 euro, then selling for 10.10 euro and i just got 7 cents on top instead of 10 cents.

i was just wandering if someone else noticed this? I will ask the coinbase support of course.
if someone else knows why that is hapenning please let me know
thanks

[clrpod]

yes exactly, you understood me very well, that was what i mine.
As i am placing limit orders i am the market MAKER so the fee should be 0%
But i am buying for lets say 10 euro, then selling for 10.10 euro and i just got 7 cents on top instead of 10 cents.

i was just wandering if someone else noticed this? I will ask the coinbase support of course.
if someone else knows why that is hapenning please let me know
thanks

Sounds like you're becoming the market taker at some point. Just because you place a limit order doesn't always mean you'll be market maker, if that limit order fills instantly then you're still a market taker.

[alex_85]

yes i know this but the orders are filled usually some hours or at least 20-30 minutes after they are made.
I think its something to do with the post only option but i never use this as am making the orders via their api


---edit----

yes it looks like it
when i check my order details using the api i can see

Code:

{ id: 'fc4c2097-1ec8-400e-b2ef-416012d7cff9',
  price: '112.00000000',
  size: '0.10000000',
  product_id: 'ETH-EUR',
  side: 'sell',
  type: 'limit',
  time_in_force: 'GTC',
  post_only: false,
  created_at: '2018-11-28T09:57:23.598581Z',
  fill_fees: '0.0000000000000000',
  filled_size: '0.00000000',
  executed_value: '0.0000000000000000',
  status: 'open',
  settled: false }

so post_only is set to false by default. That must be the reason. When post only is not set to TRUE the orders can be filled at the set price or very close to the set price is it working like this?
If i place sell order at 100 Euro it can be filled at price 100 Euro or sometimes 99.98 Euro.

That sounds to me so strange but i will try to understand the things in detail.
Is there any percentage how lower the price can go to be filled. If i set 100 Eur sell limit order how can i knwo if i allow 99.98 or how low it can be? For example someone can accept 99.98<fill order<=100


--edit2--

Now i am placing limit orders with post_only set to  TRUE , will text back the result after some fills occur.
Might be usefull for someone facing same problem

[Serpens66]

post only just means that you will get an error and will not place the order, if the price you are submitting would instantly be filled.

So if current best buy is 100€ and best sell is 100.01€ in the orderbook and you try to place a sell order with price of 100 with post only, you will get an error.
If you place a sell order above 100€ the post_only thing has no effect at all. The major reason for post only is to prevent being taker in case of sudden market moves. So in my example, if you place a sell order for 100.01, which should be maker, it can happen that right in that moment the orderbook changes (before your order is placed). This is the use case for post only.

Take a look in your trading history, to see if you paid fee for your trades. And also look at the single trades themself (if they are more than one per order), there you can see what exactly happend. You can also post this info here.

[clrpod]

I've not used coinbase before so don't know the full ins and outs but have faced similar before. I would suspect it was that the order book was changing and your limit orders were being filled instantly. Either way do post back so it can help any others.

[alex_85]

Well, to make sure the order will be filled as market maker you need to define post_only:true otherwise its allow_maker by default.
That was the case.

[Renaldi blackspadeteam]

I understand what you mean, and I think your order when selling crypto is still stuck a little on the orderbook, or I think, it's a hidden fee from the exchange.
please double check your order and if it is true then the remaining crypto of your assets is still found, but if it is not there, it has been confirmed that it is a hidden fee