Dear Users,
To further enhance your trading experience, BingX Perpetual Futures now supports Scaled Orders. This feature allows you to break down large orders into multiple smaller sub-orders within a specific price range. By doing so, it effectively minimizes market volatility caused by large orders and helps you achieve a better average filled price when opening or closing positions.
1. What is a Scaled Order?
Scaled orders are a type of algorithmic order designed to split large orders into smaller sub-orders within a specified price range, preventing market fluctuations triggered by large trades.
In scaled buying, lower-priced orders are triggered sequentially as the price drops. Similarly, in scaled selling, orders are executed at incrementally higher prices as the market rises. This feature can be used to optimize your entry and exit points, ensuring a better average price when opening or closing positions.
2. Advantages of Scaled Orders
1) Reduce Slippage
By breaking down large orders into smaller sub-orders, you can significantly reduce the impact on market prices, thereby minimizing slippage.
2) Enhance Execution Control
Scaled orders give you the flexibility to adjust the size and timing of your sub-orders in response to market changes. By setting orders at multiple price points, you can fine-tune your entry points and execute trades with precision, maximizing your ability to capitalize on favorable market trends.
3. How to Use Scaled Order
1) Navigate to the trading page for perpetual futures, select the "Single-Asset" mode, and choose the "Scaled Order" option.
2) Enter the price range for your scaled order (the lowest and highest prices) and specify the number of orders you want to split.
3) Click "Add Scaled Orders" and set the following parameters.
a. Set Order Count: Determine how many scaled orders you want to split into.
b. Set Order Prices:
You can set split orders' prices using three distribution methods: flat, ascending, or descending.
Flat: The price interval between each split order is equal.
Ascending: Each sub-order's entry price will increase by a certain factor compared to the previous order.
Descending: Each sub-order's entry price will decrease by a certain factor compared to the previous order.
c. Set Order Sizes:
You can allocate the size of each split order using three distribution methods: evenly split, ascending, or descending.
Evenly split: Each split order has the same size.
Ascending: Order size increases as the price ascends.
Descending: Order size decreases as the price descends.
You can also customize the prices and sizes manually. Ensure that the total size matches your initial order.
4) Click "Confirm" and choose "Open Long" or "Open Short" to create your scaled order.
5) View and Cancel Orders:
After creating the order, you can view or cancel it in the "Current Orders" section. Some scaled orders may be executed immediately, and you can check the executed orders in the "Order History" and "Positions" sections.
4. Additional Notes
1) Scaled Order does not support Reduce-Only, TP/SL, or Guaranteed Price.
2) A single scaled order can be split into a maximum of 10 sub-orders.
BingX Operation Team
