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name bitmex-order-execution
version 1.0.0
description Safe order execution flow for bitmex-cli: validate, place, monitor, cancel, and dead man's switch.
metadata
openclaw requires depends
category
finance
bins
bitmex
bitmex-shared
bitmex-order-types
bitmex-error-recovery

bitmex-order-execution

Follow this sequence for every order. Never skip validation or the position check.

Pre-Flight Checks

# 1. Check current position
bitmex position list --symbol XBTUSD -o json 2>/dev/null | \
  jq '.[0] | {symbol, currentQty, markPrice, unrealisedPnl, liquidationPrice}'

# 2. Check available margin
bitmex account margin --currency XBt -o json 2>/dev/null | \
  jq '{availableMargin, marginBalance, marginLeverage}'

# 3. Check for stale open orders
bitmex order list --reverse --symbol XBTUSD -o json 2>/dev/null | \
  jq '[.[] | select(.ordStatus == "New" or .ordStatus == "PartiallyFilled") | {orderID, side, price, leavesQty}]'

Step 1: Validate

Always validate before submitting. Validation checks parameters without placing the order.

bitmex order buy XBTUSD 100 \
  --price 50000 \
  --order-type Limit \
  --exec-inst ParticipateDoNotInitiate \
  --validate -o json 2>/dev/null

A successful validate response confirms the order would be accepted. A non-zero exit or error envelope means fix parameters before continuing.

Step 2: Place Order

After validation and user confirmation:

CL_ORD_ID="strategy-$(date +%s)"

ORDER=$(bitmex order buy XBTUSD 100 \
  --price 50000 \
  --order-type Limit \
  --exec-inst ParticipateDoNotInitiate \
  --cl-ord-id "$CL_ORD_ID" \
  -o json 2>/dev/null)

echo "$ORDER" | jq '{orderID, clOrdID, price, ordQty, ordStatus}'
ORDER_ID=$(echo "$ORDER" | jq -r '.orderID')

Step 3: Monitor Fill

Via REST polling:

bitmex order list --reverse --symbol XBTUSD -o json 2>/dev/null | \
  jq --arg id "$ORDER_ID" '.[] | select(.orderID == $id) | {ordStatus, cumQty, leavesQty, avgPx}'

Via WebSocket (preferred — no REST cost):

bitmex ws --auth execution order -o json 2>/dev/null | \
  jq -c --arg id "$ORDER_ID" '
    .data[]? | select(.orderID == $id or .clOrdID != null) |
    {execType, ordStatus, lastPx, lastQty, cumQty, leavesQty}
  '

Step 4: Amend If Needed

Change price without cancelling and re-placing:

bitmex order amend --order-id "$ORDER_ID" --price 50200 -o json 2>/dev/null

Step 5: Cancel

# Cancel specific order
bitmex order cancel --order-id "$ORDER_ID" -o json 2>/dev/null

# Cancel all orders on a symbol
bitmex order cancel-all --symbol XBTUSD -o json 2>/dev/null

# Cancel all orders (emergency)
bitmex order cancel-all -o json 2>/dev/null

Dead Man's Switch

Enable at session start. Cancels all open orders if not renewed within the timeout. Critical for automated strategies.

# Cancel all open orders if not renewed within 60 seconds
bitmex order cancel-after 60000 -o json 2>/dev/null

# Renew in your heartbeat loop
while true; do
  bitmex order cancel-after 60000 -o json 2>/dev/null > /dev/null
  sleep 30
done &
DMS_PID=$!

# On exit, cancel the DMS and clean up
trap "kill $DMS_PID; bitmex order cancel-all -o json 2>/dev/null" EXIT

Close Position

# Market close (taker fee, immediate)
bitmex order close-position XBTUSD -o json 2>/dev/null

# Limit close (maker rebate, may not fill immediately)
QTY=$(bitmex position list --symbol XBTUSD -o json 2>/dev/null | jq '.[0].currentQty // 0')
if [ "$QTY" -gt 0 ]; then
  PRICE=$(bitmex market orderbook XBTUSD --depth 1 -o json 2>/dev/null | jq '[.[] | select(.side == "Buy")] | first | .price')
  bitmex order sell XBTUSD "$QTY" --price "$PRICE" --exec-inst ReduceOnly -o json 2>/dev/null
fi

Sell Order

bitmex order sell XBTUSD 100 \
  --price 52000 \
  --order-type Limit \
  --exec-inst ParticipateDoNotInitiate \
  --validate -o json 2>/dev/null

bitmex order sell XBTUSD 100 \
  --price 52000 \
  --order-type Limit \
  --exec-inst ParticipateDoNotInitiate \
  -o json 2>/dev/null