Execution, or Algorithmic Trading, is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume.
WhaleFin employs aggregated Execution to facilitate trading on both centralized and decentralized venues, aiming for optimal execution results with a range of trading pairs supported. WhaleFin also supports one-click swaps.
1. How to Start
Log in to your WhaleFin account, click on [Trade] and select [Execution] on the top. By default, the currency you are getting is BTC, and the currency you are sending is USDT. You may change both by opening the “Select currency” window.
2. How to Place an Order
- Select the currency you are sending here, and the Available Balance of the currency will be displayed here; then enter the trading amount that is no less than the minimum limit
- Select the currency you are getting here, and the Available Balance of the currency will be displayed here; then enter the trading amount that is no less than the minimum limit, or you may also choose “all” to send all available balances for the trading.
- Click to swap the currency you are sending with the currency you are getting.
- If the pair you select cannot be traded directly in the venue, WhaleFin also supports trading the pair via a medium currency, this is called a “triangular trading pair”.
- Estimated trading price will be displayed here.
- The system will select the optimal venue by default, but you can also select other venues by clicking on the name of the venue. Note: different venues support different trading pairs.
- Select from one of the three available order types: ICEBERG, TWAP, and VWAP. Note: different order types support different trading pairs.
- Enter the price.
- Start time is required for ICEBERG orders
- Start time and duration are required for TWAP orders.
- Fill ratio and start time are required for VWAP orders.
If you select “ASAP” as the start time, execution will start immediately once the transfer to the venue is completed. However, since we need to transfer your assets to the venue via blockchain, the order might take around 1 hour to execute.
- Click to buy, a “Reconfirm Order” window will pop up and display the estimated service fee (including venue trading fee and WhaleFin’s service fee).
Click to place the order, and view the progress of the order at “Open orders”.
3. Open Orders
- You can view the progress of the order here.
- This displays the fill ratio and amount.
- Click [>] on the upper right of the order to enter the “Open Order Details” page. There are four statuses for open orders: pending, running, executing, and canceling.
- “Open Order Details” will also display other information of the order and the report details of the filled amount. If the filled amount is 0, there will be no report details.
- You may also cancel the open orders.
- Only limited items are editable for different order types: limit price of ICEBERG orders, limit price of TWAP orders, and the limit price and fill ratio of VWAP orders.
4. Order History
- You can find filled and canceled orders here.
- You may view report details of the filled orders.
- Canceled orders with no filled amount have no report details.
- Please visit WhaleFin Web for more detailed order reports.