On Tuesday 2 April, 2024, 9 AM UTC – Deribit will implement changes to the tick sizes for BTC and ETH spot pairs for both on-screen orderbooks and block trades.
The change will impact the following spot pairs:
- BTC / USDC increased from 0.01 to 1 USDC
- BTC / USDT increased from 0.01 to 1 USDT
- ETH / USDC increased from 0.01 to 0.1 USDC
- ETH / USDT increased from 0.01 to 0.1 USDT
Tick size, the minimum increment by which the price of orders can change, is a crucial element in trading. Deribit is implementing this change to improve the tradability of these pairs and generate more volume on increased ticks. New orders at smaller tick sizes will be rejected as of 2 April 2024 9 AM UTC.
Please note that this change will apply to all new & existing orders but will not affect existing positions.
Important to note:
– Orders entered before the change that are not compatible with the new tick size would remain in the book but be displayed in the public order book (via API and UI) rounded down to nearest tick for bids and rounded up to nearest tick for asks. However if a trade matches with that price, it will go through on the originally entered price of the order.
For example, having a bid of 6800.12 and ask of 6803.16 on an ETH / USDC Spot would be adjusted to 6800.1 and ask of 6803.2. But if a sell order for 6800.1 comes in, it would match at 6800.12
– Orders not compatible with the new tick size won’t show the triangle in UI to signal it is your order. It would still be seen in your open orders (API and UI).
– Stop orders entered that are not compatible with the new tick size will be rejected when triggered (will show as rejected:server_error in the Trigger Orders Log). So please be sure to edit or re-enter these.
– Editing only volume on orders that are not compatible with new tick size.
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