Skip to main content

Chase Orders

Chase orders automatically adjust limit order prices to stay at the front of the order book for better fill rates.

CHASE_LIMIT​

Enable limit order chasing for entry orders. The system automatically adjusts your limit price to stay competitive in the order book.

Example​

{
  "strategy_key": "your_key",
  "exchange": "BINANCE",
  "ticker": "BTCUSDT.P",
  "position_side": "CHASE_LIMIT",
  "action": "BUY",
  "entry_price": 50000,
  "entry_order_type": "LIMIT",
  "chase_order_type": "QUEUE",
  "stop_loss_price": 48000,
  "take_profit_price": 55000
}

How It Works​

  1. You place a limit order at 50000
  2. Best ask moves to 49999
  3. System automatically adjusts your order to 49999
  4. Continues adjusting to maintain position in queue
  5. Order fills when price is hit

Chase Types​

chase_order_type: "QUEUE"​

Chase to stay in the order queue, may take liquidity if needed.

{
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "QUEUE"
}
  • Most aggressive
  • Best for getting filled quickly
  • May pay taker fees sometimes

chase_order_type: "MAKER"​

Ensure maker fees (post-only), never takes liquidity.

{
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "MAKER"
}
  • More conservative
  • Always pays maker fees (usually lower)
  • Might miss fills in fast markets

CHASE_LIMIT_UPDATE​

Update chase order settings. Automatically converted to CHASE_LIMIT with specified chase type.

Example​

// You send:
{
  "position_side": "CHASE_LIMIT_UPDATE",
  "chase_order_type": "MAKER"
}

// Converted to:
{
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "MAKER"
}

Default Behavior​

If no chase_order_type specified, defaults to QUEUE:

// You send:
{"position_side": "CHASE_LIMIT_UPDATE"}

// Becomes:
{
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "QUEUE"
}

Chase Exit Orders​

chase_exit_order_type​

Apply chasing to exit (take profit) orders as well.

{
  "strategy_key": "your_key",
  "position_side": "LONG",
  "action": "BUY",
  "entry_price": 50000,
  "entry_order_type": "LIMIT",
  "chase_order_type": "QUEUE",
  "take_profit_price": 55000,
  "chase_exit_order_type": "MAKER"
}

Complete Examples​

Aggressive Entry Chase​

{
  "strategy_key": "your_key",
  "exchange": "BINANCE",
  "ticker": "BTCUSDT.P",
  "position_side": "CHASE_LIMIT",
  "action": "BUY",
  "entry_price": 50000,
  "entry_order_type": "LIMIT",
  "chase_order_type": "QUEUE",
  "stop_loss_price": 48000,
  "take_profit_price": 55000,
  "leverage": 10
}

Conservative Maker-Only Chase​

{
  "strategy_key": "your_key",
  "exchange": "BYBIT",
  "ticker": "ETHUSDT.P",
  "position_side": "CHASE_LIMIT",
  "action": "BUY",
  "entry_price": 3000,
  "entry_order_type": "LIMIT",
  "chase_order_type": "MAKER",
  "stop_loss_price": 2900,
  "take_profit_price": 3200,
  "leverage": 5
}

Chase Entry and Exit​

{
  "strategy_key": "your_key",
  "position_side": "CHASE_LIMIT",
  "action": "BUY",
  "entry_price": 50000,
  "entry_order_type": "LIMIT",
  "chase_order_type": "QUEUE",
  "take_profit_price": 55000,
  "chase_exit_order_type": "MAKER"
}

When to Use Chase Orders​

✅ Good Use Cases​

Low Liquidity Pairs:

{
  "ticker": "ALTCOINUSDT.P",
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "MAKER"
}

Large Orders:

{
  "cost": 50000,  // Large allocation
  "position_side": "CHASE_LIMIT",
  "chase_order_type": "MAKER"
}

Fee Optimization:

{
  "chase_order_type": "MAKER"  // Lower fees
}

❌ Less Suitable​

Fast Markets:

  • High volatility might cause many order adjustments
  • Consider market orders instead

Time-Sensitive Entries:

  • If you need guaranteed fill, use market orders
  • Chase orders may not fill in trending markets

Best Practices​

1. Use MAKER for Fee Optimization​

{
  "chase_order_type": "MAKER"
  // Always maker fees
}

2. Use QUEUE for Better Fills​

{
  "chase_order_type": "QUEUE"
  // Higher fill probability
}

3. Combine with Time in Force​

{
  "position_side": "CHASE_LIMIT",
  "entry_order_time_in_force_type": "GTC",
  "chase_order_type": "QUEUE"
}

4. Chase Exit Orders in Ranging Markets​

{
  "chase_exit_order_type": "MAKER",
  "take_profit_price": 55000
}

Next Steps​