It wasn’t long after releasing version 0.3.0 and making a few trades that I realized I didn’t implement the offset in the best way. I had it as an absolute value of the quote currency, but adjusted to the nearest tick size. When changing to another symbol this value may not make sense anymore if the new symbol has a different value for tick size.
Instead I’ve now changed the offset to be in the number of ticks. This means the value is relative to whatever symbol is being traded.
Tick Size: At Binance each symbol has a tick size. This is the minimum increment that an order price can be changed and it varies between symbols.
For example, EOSBTC has a tick size of 0.00000010 meaning the buy/sell price can only be changed by increments of 10 satoshis. But BATBTC has a tick size of 0.00000001 allowing its order price to be adjusted by one satoshi.
Adjusting an order by a tick can allow finer grained placement on the orderbook. For example, using a buy price of Best Bid and setting a Offset of +1 ticks should put your order at the top of the buy order book.
To download the latest tagged release, go to: https://maker.crankykernel.com/files/release/
To download the latest development build, go to: https://maker.crankykernel.com/files/master/