Trading

Trading on Citrex is low-latency and frictionless with modes allowing for one-click trading. The latency of matching is below 30ms and the end-to-end latency of order reception to on-chain committing will be provided closer to the launch date, but will be constantly optimized. So long as a trade matches, it is treated as confirmed whether it has been pushed to chain or not, this enables a CEX-like experience when trading.

Order types:

• LIMIT: Buy or sell quantity at the specified price or better.

• LIMIT_MAKER: LIMIT order that will be rejected if it immediately matches and trades as a taker. This order type is also known as a POST-ONLY order.

• MARKET: Order where the quantity parameter specifies the amount of the base asset you want to buy or sell. The actually executed quantity of the quote asset will be determined by available market liquidity.

• STOP LOSS: Execute a MARKET order for a given quantity when specified conditions are met.

• STOP LOSS LIMIT: Place a LIMIT order with given parameters when specified conditions are met.

Time In Force:

• Good Til Cancelled (GTC) - Sits on the order book indefinitely until executed or cancelled by the order creator.

• Immediate or Cancel (IOC) - Executed immediately up to where the order book can fill within the specified price, remainder (if any) is dropped.

• Fill or Kill (FOK) - Executed immediately in its entirety or not at all.

Pnl Settlements

All realised Pnls for a given subaccount get handled on the execution of a trade.

For perp PnL, this will be the difference between the entry and the execution price between trade entry and exit + any funding amounts.

The off-chain system is constantly keeping track of unrealised PnL in order to account for the health of a given subaccount.

Market Making

If you are interested in market making on Citrex, reach out to us on Twitter