Aster USDF 백서 전문

t, leverage, and order amount. Click the check box \[Hidden Order]. Hidden orders are automatically limit orders. <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2F8MZ5PwWqpxN5ShAtKi49%2F%E6%88%AA%E5%B1%8F2025-06-20%2018.03.07.png?alt=media&token=acfbeb1f-fb66-44f3-8d8d-a804a796fcd5" alt=""><figcaption></figcaption></figure> 2. Your order will appear under \[Open orders] but will not appear in the public order book. You can differentiate a hidden order from a normal order via the not-visible icon. <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2Fp0wALsRRUPspFjHg19zJ%2F%E6%88%AA%E5%B1%8F2025-06-20%2018.05.41.png?alt=media&token=3a000dc9-0efb-4fa8-a604-d875f374c0b3" alt=""><figcaption></figcaption></figure> 3. Once executed, your trade will be reflected under \[Positions] in your account. The resulting position remains private to your account. <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FLFlAuOqmPhYDyRnNa39M%2F%E6%88%AA%E5%B1%8F2025-06-20%2018.07.13.png?alt=media&token=d3bc54e9-995f-4814-a68b-271fe5ef9416" alt=""><figcaption></figcaption></figure> # Trailing Stop Order A Trailing Stop Order is a smart type of stop order that adjusts itself automatically as the market moves in your favor. Instead of using a fixed stop-loss, you can let the system track the price and move the stop level along with the trend. This helps you protect profits without manually updating your stop every time the price changes. Rather than choosing a specific stop price, you set a callback rate. The callback rate is a percentage that determines how far the market must reverse before the stop triggers. As long as the market continues to move in your favor, the trailing stop keeps updating and follows the price. Once the price reverses by the callback rate, the trailing stop activates and sends a market order to close your position. ### **How it Works** Callback rate:\ The key setting. It is the percentage distance the price must reverse from the highest or lowest point reached after your trailing stop is placed. For example, if you use a 2% callback rate, the trailing stop price will always remain 2% behind the most favorable price reached.\ • For long positions, it stays below the highest price.\ • For short positions, it stays above the lowest price. Once the reversal equals the callback rate, the trailing stop triggers a market order. ### **How it Behaves for Long and Short Positions** **Long positions:**\ • The stop price moves upward when BTC rises.\ • The stop price never moves downward.\ • If BTC pulls back by the callback rate, your trailing stop triggers a market sell order to close the position. **Short positions:**\ • The stop price moves downward when BTC falls.\ • The stop price never moves upward.\ • If BTC rebounds by the callback rate, your trailing stop triggers a market buy order to close the short. #### **Example 1: Long position on BTC** • Entry price: 95,000\ • Callback rate: 2% You place a trailing stop after entering long. 1. BTC rises from 95,000 to 100,000. 2. The system tracks the new peak. 3. The trailing stop price is updated to 98,000 because this is 2%below the recent high. 4. If BTC continues rising, the trailing stop keeps moving upward. 5. If BTC drops from 100,000 to 98,000, the price has reversed by the full 2%, so the trailing stop triggers a market sell order. 6. Your long position closes, locking in profit automatically. This helps you stay in the uptrend while still protecting gains if momentum shifts. #### **Example 2: Short position on BTC** • Entry price: 105,000\ • Callback rate: 2% You place a trailing stop after entering short. 1. BTC falls from 105,000 to 100,000. 2. The system records 100,000 as the lowest price since the short was opened. 3. The trailing stop adjusts to 102,000, which is 2 percent above the recent low. 4. If BTC continues falling, the trailing stop follows downward. 5. If BTC rebounds from 100,000 to 102,000, the reversal hits 2 percent, so the trailing stop triggers a market buy. 6. Your short position is closed, securing profit before the price climbs further. A trailing stop is particularly useful when:\ • You want to automatically protect profits as the market moves in your favor.\ • You want your trade to continue running without constantly adjusting your stop price.\ • You prefer a more dynamic exit strategy instead of a fixed stop-loss level.\ • You want to maximize gains in strong trends while still having clear protection if the trend reverses. # Trailing Stop Order For Pro mode (orderbook perpetual contracts) A **Trailing Stop Order** is a type of stop order that automatically adjusts with the market when the price moves in your favor. It helps you lock in gains without having to manually update your stop. Instead of setting a fixed stop price, you set a **callback rate** — a percentage that tells the system how far the market must reverse before your order is triggered. When the price moves in your favor, the stop price follows it. If the price reverses by the callback rate, a **market order** is triggered to close your position. ### How it works * **Callback rate**: The percentage used to trail the current market price. * Example: A 2% callback rate means the stop price stays 2% behind the highest (or lowest) price reached after the order is placed. * **For long positions**: * The stop price moves up as the market rises. * If the price falls by the callback rate, a **market sell** is triggered. * **For short positions**: * The stop price moves down as the market falls. * If the price rises by the callback rate, a **market buy** is triggered. #### Example 1 (long position on BTC) * **Entry price**: $95,000 * **Callback rate**: 2% If BTC rises to **$100,000**, the trailing stop price moves up to **$98,000** (2% below the peak). If the price then falls to **$98,000**, your stop triggers a **market sell**, closing the position and locking in profit. #### Example 2 (short position on BTC) * **Entry price**: $105,000 * **Callback rate**: 2% If BTC falls to **$100,000**, the trailing stop moves down with it, staying 2% above — now at **$102,000**. If the price then rebounds to **$102,000**, your stop triggers a **market buy**, closing the short position to secure profit before the price climbs further. ### When to use it * To automatically **protect profits** when the market moves in your favor * To **let your trade run** while still having a dynamic exit * As a smarter alternative to fixed stop-losses # TWAP ### **What are TWAP (Time-Weighted Average Price) orders?** TWAP (Time-Weighted Average Price) is an algorithmic trade execution strategy that aims to achieve an average execution price close to the time-weighted average price of the user-specified period. A TWAP strategy is often used to minimize a large order’s impact on the market by dispersing the large order into smaller quantities and executing them at regular intervals over time. TWAP is favored to provide a better execution price in the following scenarios: * Order size larger than the available liquidity on the order book. * Anticipation of a high price volatility period with no clear up or downward trend. ### **How to Set Up a TWAP Strategy** * Go to Aster Perps, open **\[Order Type]**, and select **\[TWAP]**. * Select your symbol and configure your trade details: * **Direction:** Buy or Sell * **Trade Size:** The total quantity you want to buy or sell. The strategy will aim to fill up to this target size. * **Total Time:** How long the strategy should run. Minimum is 1 minute, maximum is 7 days. * Click **\[Buy/Long]** or **\[Sell/Short]** to place your order. * Review your order details and click **\[Confirm]**. **Note:** If you're new to TWAP, review the guidelines before creating your first strategy. ### **Margin Requirements** Your Perpetual Account must have sufficient margin for the duration of the strategy. If any sub-order fails a margin check, the entire TWAP strategy will be terminated. Margin checks work as follows: * Reduce-only orders are not subject to margin checks. * **Order Cost** = (Total Order Size × Asset Last Price) ÷ Leverage * The order proceeds if: **Order Cost < Available for Order** *Available for Order is the available margin for opening a position.* ### **Viewing and Managing TWAP Orders** Running strategies are visible in the **Strategy Overview** panel under the **\[Running]** tab. From here you can monitor: * Average filled price * Strategy duration and status * Total order size * **Filled %** — the current executed amount as a percentage of your target size To manually stop a running strategy, click **\[Stop]** in the **\[Action]** column. Transaction details are only shown once all sub-orders are fully filled. For partially completed orders, you can view transaction quantity, average transaction price, and trading fee. #### Notes * TWAP supports Multi-Assets Mode. * A maximum of 30 TWAP strategies can run simultaneously per account. * TWAP orders do not guarantee execution. Orders are filled on a best-effort basis, subject to market liquidity and volatility. Slippage may occur depending on market conditions. # Scaled Order A scaled order places multiple limit orders simultaneously across a defined price range, splitting your total order size into smaller sub-orders. This is useful for managing large positions without revealing your full order volume to the market — reducing the risk that a single large order moves price against you. Aster supports up to 110 sub-orders per scaled order. ### How It Works When you set up a scaled order, you define a price range and an order count. The system distributes your total order size across that range according to your chosen distribution pattern. Each sub-order is placed as a separate limit order on the order book. ### Distribution Patterns Choose how your order size is allocated across the price range: | Pattern | How it works | When to use it | | ---------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------- | | **Equal (Flat)** | Each sub-order receives the same size. Distribution is uniform across all price points. | When you expect price to fluctuate within the range but have no directional bias. | | **Increasing** | Sub-order size grows as price increases. The highest-priced order is the largest. | Distributing sell orders to raise your average sell price. | | **Decreasing** | Sub-order size shrinks as price increases. The highest-priced order is the smallest. | Distributing buy orders to lower your average buy price. | | **Random** | Sub-order sizes are allocated randomly across the price range within a set variance. Enter a variance % up to 10% — a 10% variance means order sizes vary randomly within a 10% range. | When you want to obscure order pattern from other market participants. | ### Creating a Scaled Order 1. Connect your wallet to Aster and go to the Perps trading page. 2. Select **\[Scaled Order]** from the order type options and configure your parameters: <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FDH7he7h2V0pw7Ee7eo8c%2FXnip2026-02-05_13-19-08.jpg?alt=media&token=1b74ea06-607e-4222-b683-34d609b0e54b" alt="" width="188"><figcaption></figcaption></figure> * Lowest and Highest Price * Size * Order Count * Size Distribution 3. Review your order summary and confirm. Check that your price range, total size, and order count match your intent before submitting — once placed, the orders sit on the book at their respective price levels. <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FMeGLxRvT18vgGmR8Vws6%2FXnip2026-02-05_13-17-44.jpg?alt=media&token=20e43daf-4686-4c5f-b79d-d44569e4dee4" alt="" width="260"><figcaption></figcaption></figure> **Note:** Scaled orders place multiple limit orders simultaneously. Ensure you have sufficient margin to support the full position size before confirming. # Chase Order A chase order is a limit order that automatically updates its price to follow the best bid or ask, so you stay in line with the market without manually re-pricing. The order keeps running until it fills, you cancel it, or the price moves past a max chase difference you set. All chase orders are placed as post-only, so every fill is a maker fill at Aster's 0 maker fee. Aster is the first DEX with native chase orders, built into the matching engine and verifiable on Aster Chain. *** ### How it works Every second, the system checks the best bid/ask and updates your order price if necessary. Only the price is updated — quantity cannot change. Updated orders re-enter the order book queue at the corresponding price level. You can configure a chase order in two ways: **Best bid/ask** — the order price follows the best bid or best ask directly. This gives you the fastest fill at the most aggressive available price. **Gap from best bid/ask** — the order maintains a fixed distance from the best bid or best ask. You get a better entry price at the cost of slower fills. In both modes, you can set a max chase difference. If the market moves past that boundary, the order automatically cancels instead of continuing to chase. *** ### Two modes **Best bid / ask** Places your order at the front of the book. Gives you the fastest fill at the most aggressive available price. * Buy: price updates to Bid1 whenever Bid1 rises above the current order price. * Sell: price updates to Ask1 whenever Ask1 falls below the current order price. **Gap from best bid / ask** Places your order at a fixed distance behind the book, set as an absolute price gap. You get a better entry price at the cost of slower fills. * Buy: price = Bid1 − offset, updating whenever Bid1 − offset rises above the current order price. * Sell: price = Ask1 + offset, updating whenever Ask1 + offset falls below the current order price. In both modes, you can set a max chase difference. If the market moves past that boundary, the order automatically cancels instead of continuing to chase. ### Max chase difference This setting limits how far an order can follow the market price. If the market moves past the boundary you set, the order is automatically cancelled by the system. You can set the max chase difference as an absolute price distance or a percentage. **Buy orders** * Absolute: max chase price = original Bid1 + offset * Percentage: max chase price = original Bid1 × (1 + offset%) * Cancellation triggers when the latest order price exceeds the max chase price. **Sell orders** * Absolute: min chase price = original Ask1 − offset * Percentage: min chase price = original Ask1 × (1 − offset%) * Cancellation triggers when the latest order price falls below the min chase price. ### Order rules Active order limit Each user can run up to 5 active chase orders per trading pair. Additional orders will be rejected if the limit is reached. Manual modification Chase orders cannot be modified after submission. To change parameters such as quantity, chase gap, or max chase difference, cancel the order and place a new one. ### How to use Available under Perpetuals → Order type → Chase Order. REST API is also available for systematic traders. \ # Market Order Slippage Tolerance ### Overview Market Order Slippage Tolerance allows you to set the maximum price difference you're willing to accept when placing a Market Order. When enabled, Aster automatically converts your Market Order into an Immediate-Or-Cancel (IOC) Limit Order using your selected slippage tolerance. If there isn't enough liquidity within your specified price range, any unfilled portion of the order will be cancelled. *** ## How It Works You can set slippage tolerance using either: * Price Amount * Percentage Aster calculates a limit price based on your selected method and submits the order as an IOC Limit Order. The order will execute immediately against available liquidity within the calculated limit price. If the entire order cannot be filled, the remaining quantity will be cancelled automatically. *** ## Slippage Tolerance Types #### By Amount Set the maximum acceptable price difference as a fixed amount. For example: * Best Ask Price: 100 USDT * Slippage Tolerance: 2 USDT The maximum execution price for a buy order is: 100 + 2 = 102 USDT For sell orders, the limit price is calculated using the current Best Bid. *** #### By Percentage Set the maximum acceptable price difference as a percentage. For example: * Best Ask Price: 100 USDT * Slippage Tolerance: 1% The maximum execution price for a buy order is: 100 × (1 + 1%) = 101 USDT For sell orders, the limit price is calculated using the current Best Bid. *** ## Price Calculation #### By Amount Buy Order Limit Price = Best Ask + Price Amount Sell Order Limit Price = Best Bid − Price Amount #### By Percentage Buy Order Limit Price = Best Ask × (1 + Percentage) Sell Order Limit Price = Best Bid × (1 − Percentage) *** ## Slippage Tolerance Limits #### By Amount * Minimum: One tick size * Maximum: Current Mark Price × Market Order Price Cap #### By Percentage * Minimum: 0.1% * Maximum: Market Order Price Cap × 100% *** ## Important Notes * Slippage Tolerance is available only for Market Orders. * Market Orders with Slippage Tolerance are executed as IOC Limit Orders. * Orders may be fully or partially filled depending on available market liquidity. * Any unfilled quantity will be cancelled automatically. *** ## Frequently Asked Questions #### What is slippage? Slippage is the difference between the expected price of a Market Order and the actual execution price. It can occur when market prices change quickly or liquidity is limited. *** #### Why wasn't my order fully filled? If there isn't enough liquidity within your specified slippage tolerance, only the available quantity will be filled. Any remaining quantity will be cancelled. *** #### Can my order be partially filled? Yes. Orders may be partially filled if only part of the order can be executed within your specified slippage tolerance. # Grid Trading Grid trading lets you automate strategies and capture market swings without constant monitoring. By placing buy and sell orders at preset price intervals, you can profit from volatility whether the market is moving up, down, or sideways. Aster supports three grid strategies: neutral, long, and short — giving you the flexibility to match your approach to different market conditions. You can use auto-generated parameters or configure your own. ### In this section * [**Set up your grid strategy**](https://docs.asterdex.com/product/aster-pro/grid-trading/set-up-your-grid-trading-strategy) * [**Auto grid trading guide**](https://docs.asterdex.com/product/aster-pro/grid-trading/futures-grid-trading-auto-parameters-guide) * [**Long/short grid trading**](https://docs.asterdex.com/product/aster-pro/grid-trading/long-short-grid-trading-introduction) # Manual Grid Trading 1. After connecting your wallet, hover over **More** in the top menu and click \[[Grid Trade](https://www.asterdex.com/en/strategy/futures/grid/BTCUSDT)]. <figure><img src="https://4068247257-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FWhSHuKmgnGREbVb12PK2%2Fuploads%2FUoldNNVcZUg8h3lFm8Ut%2FScreenshot