Submitting Orders

Order Entry

Note: These explanations are mainly relevant for the dashboard UI, for API usage, refer to API documentation for precise details on constraints and expected format of inputs.

Field	Description
Account	Select one or more accounts to execute the trade.
Base Asset Quantity	Defines the amount of the base asset being traded (e.g., BTC in BTC-USDT).
Quote Asset Quantity	Defines the amount of the quote asset being used for the trade (e.g., USDT in BTC-USDT).
Strategy	A preset execution configuration that combines a selected trajectory with advanced settings to optimize order execution. Refer to the Strategies section for further details.
Limit Price	Sets a price cap for the order. The order will not execute at a price worse than the specified limit.
Duration	Defines the total execution time for the order in minutes.
Time Start	Specifies when the order should begin execution.
Time End	Specifies when the order should stop execution. If both Time Start and Time End are set, the system calculates the duration automatically.

Advanced Setting

Trajectory	Determines the execution schedule, defining how orders are distributed over time to achieve optimal execution outcomes.
Participation Rate Target	Defines the target share of market volume the engine aims to execute at, dynamically adjusting execution to match this rate.
Participation Rate Limit	Sets the maximum percentage of market volume the order can interact with at any given time, preventing excessive exposure.
Passiveness	Controls the placement depth of limit orders. Higher passiveness results in deeper order book placement, prioritizing price efficiency over execution speed.
Discretion	Allows for controlled variation in execution, enabling more passive fills at the expense of increased tracking variance relative to the benchmark price.
Alpha Tilt	Adjusts the execution curve by front-loading or back-loading the order distribution.
Max OTC Percentage	Defines the maximum percentage of the order that can be executed through over-the-counter (OTC) Request for Quotes (RFQs), reducing on-exchange footprint.
Passive Only	Ensures the order is executed exclusively using passive limit orders, preventing taker fills.
Active Limit	Enables dynamic limit order placement, adjusting prices in real time based on market conditions.
Reduce Only	Restricts the order to only reducing existing positions, preventing accidental position increases. Not available on OKX.
Spot Leverage	Enables margin trading for spot orders. (Only applicable for Bybit.)
DiCy (coming soon)	Utilizes Directed Cyclical Crossing (DiCy) for internal or multi-party crossing to improve execution efficiency and reduce market impact.