Cryptocurrency exchange Bybit has announced a new API trading feature. The introduction of this tool is in line with the company's commitment to continuously improve the user experience and trading efficiency.
"The new feature of placing orders via WebSocket will be available from May 6, 2024, 8:00 UTC," the crypto exchange said on its official website.
Bybit explained how the mechanism for placing orders via WebSocket works. Opening trades via WebSocket makes it possible to send and execute trading commands in real time.
The WebSocket API has the following advantages over REST order placement:
- Minimal trade latency for smoother operation.
- Increased trading speed and efficiency: respond faster to market movements and take advantage of opportunities.
Supported products:
- Line contracts traded on the Unified Trading Account (UTA), including USDT Perpetual, USDC - -
- Perpetual, and USDC Futures.
- Spot trading is done through the Unified Trading Account (UTA).
- Options: single orders.
Prior to the official launch of WebSocket, the developers recommend familiarizing yourself with the new order placement feature on the test network.
Bybit aims to empower platform users and improve their trading experience, so it will also make changes to the maintenance margin calculation for accounts with risk limits. Beginning May 14, 2024, a phased-in maintenance margin calculation will be implemented.
The new calculation will apply to all open and futures pairs:
- USDT Perpetuals.
- USDC Perpetuals and Futures.
- Inverse perpetuals and futures.
This will provide traders with a noticeable reduction in maintenance margin, which in turn reduces the risk of account liquidation.
The Bybit cryptocurrency exchange is an independent platform for trading derivatives with inverses and open futures contracts with leverage up to 1:200. The exchange has a number of technological advantages: it provides mutual insurance for market participants against possible sharp price movements.
Read also: Markets4you introduced new brand ambassador and announced exclusive promotions
