FTX has introduced rate limits on orders placed via API key. This cap largely affects traders in tiers 1-5 on a per-account basis and cannot be circumvented by creating more sub accounts. Tier 6 accounts and VIPs have higher rate limits.
We anticipate this will impact traders using multiple strategies that submit orders on the same candle. Today, if this happens, FTX will reject extra orders and traders will miss out entirely on potential opportunities.
Our solution is to queue orders and place them consecutively, rather than all at once. To account for market movements, if orders are delayed, we will be applying slippage criteria to retry orders:
- Open signals will be processed if the current price reaches within +/- 0.10% of the signal price. This applies to BUY (Spot), LONG (futures), and SHORT (futures) signals.
- Close signals will be processed regardless of slippage.
For traders: we recommend that you use a single live run for each subscription.