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.
- Mobile app
- Web
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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
a. 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.
b. 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.
c. Click
to swap the currency you are sending with the currency you are getting.
d. 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”.
e. Estimated trading price will be displayed here.
f. 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.
g. Select from one of the three available order types: ICEBERG, TWAP, and VWAP. Note: different order types support different trading pairs.
h. Enter the price.
i. Start time is required for ICEBERG orders
j. Start time and duration are required for TWAP orders.
k. 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.
l. 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
a. You can view the progress of the order here.
b. This displays the fill ratio and amount.
c. 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.
d. “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.
e. You may also cancel the open orders.
f. 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
a. You can find filled and canceled orders here.
b. You may view report details of the filled orders.
c. Canceled orders with no filled amount have no report details.
d. Please visit WhaleFin Web for more detailed order reports. -
I. Interface Overview
1. Trading Pairs & Balance
Select your currency pairs and view your Available Balance in this area.2. Market Overview
For common trading pairs, you can select them in area 1 and then switch to different venues using the dropdown window on the right in area 2.
For triangular trading pairs, select the two symbols that cannot be directly paired, and medium pair 1 & medium pair 2 should appear. Select each medium pair and switch to different venues using the dropdown window on the right.3. K-line Chart
You can view the K-line charts of your current selected pair or medium pairs.4. Orderbook
This area shows the real-time prices of your selected pair or medium pairs on your selected venue.5. Place an Order
Enter your order details in this area, and click SELL or BUY at the bottom to place the order.6. Order Records
You can view your open orders and order history here.II. How to place an order?
1. Select your trading pair and venue
Select trading pair: click
to open the dropdown window and select your symbols.
If the symbol you wish to select in the dropdown window is grey, it means that the symbol cannot be paired with the other symbol you choose. If you choose the grey symbol anyway, the other sign will be automatically changed to form an available pair.
The optimal venue is selected by default. Click here to switch to any other venue we support.
2. Place an ICEBERG Order
Select your order type here
Choose your symbol
and enter the execution amount.Set a limit price. (If you are to SELL on Quote Currency amount or BUY on Base Currency amount, please set a limit price. Otherwise, you can leave this blank.)
Set start time here
If you select ASAP, execution will start immediately once the transfer to the venue is completed, which might take around 1 hour.
If you select WhaleFin as the venue, you may customize the start time of the order.
*Note: The actual start time is subjected to the transfer time on blockchain.Click SELL or BUY to place the order.
* The actual start time is subjected to the transfer time on blockchain.
After placing an order, WhaleFin will transfer your assets to the venue you selected. Once the transfer is completed on the blockchain, the order will execute.
3. Place a TWAP Order
Select your order type here
Choose your symbol
and enter the execution amount.Set an order price limit. (If you are to SELL on Quote Currency amount or BUY on Base Currency amount, please set an order price limit. Otherwise, you can leave this blank.)
Set start time here
If you select ASAP, execution will start immediately once the transfer to the venue is completed, which might take around 1 hour.
If you select WhaleFin as the venue, you may customize the start time of the order.
*Note: The actual start time is subjected to the transfer time on blockchain.Set order duration
Click SELL or BUY to place the order.
* The actual start time is subjected to the transfer time on blockchain.
After placing an order, WhaleFin will transfer your assets to the venue you selected. Once the transfer is completed on the blockchain, the order will execute.
4. Place a VWAP Order
Select your order type here
Choose your symbol
and enter the execution amount.Set an order price limit. (If you are to SELL on Quote Currency amount or BUY on Base Currency amount, please set an order price limit. Otherwise, you can leave this blank.)
Set fill-ratio
. The recommended ratio is between 0.06 and 0.2. Set starting time here
If you select ASAP, execution will start immediately once the transfer to the venue is completed, which might take around 1 hour.
If you select WhaleFin as the venue, you may customize the start time of the order.
*Note: The actual start time is subejcted to the transfer time on blockchain.Click SELL or BUY to place the order.
* The actual start time is subjected to the transfer time on blockchain.
After placing an order, WhaleFin will transfer your assets to the venue you selected. Once the transfer is completed on the blockchain, the order will execute.
5. Set Limit Price
If you are to SELL on Quote Currency amount or BUY on Base Currency amount, please set a limit price. Otherwise, you can leave this blank.
Example:
a. If the order is set as follows:
SELL BTC/ USDT
Execution Amount symbol: USDT
Then, a limit price has to be set for this order.
b. If the order is set as follows:
BUY BTC/ USDT
Execution Amount symbol: BTC
Then, a limit price has to be set for this order as well.6. Order Status
Pending
This indicates that your asset is being transferred to the exchange. The progress bar should be at 0%.
Ready
This indicates that your asset has been transferred to the exchange, but the order is waiting to be executed at your set start time. The progress bar should be at 0%.
Running
This indicates that the order is being executed. The progress bar will show you the specific executed percentage.
On Pause
For BUY orders, when the current spot price is higher than the limit price, the order will be paused;
For SELL orders, when the current spot price is lower than the limit price, the order will be paused.
For orders that are pending or not fully executed, you can click [Edit] to change the order details, or you can cancel the order.
Click “Download Details” to export the reports in excel form to your local system. In the reports, you can find details of orders’ executions and charged fees.
Click “Report Review” to view details of fees charged and other information on order execution.
