How to Use Iceberg Strategy

Web Version

Placing an Iceberg Order

• Position Mode: Match the selected contract’s position mode.
• Total Quantity: Enter the total quantity or use the percentage slider to set the order size and available margin ratio.
• Splitting Method: Choose between Quantity per Order or Number of Orders.
  • Quantity per Order: The system splits the total quantity into smaller orders based on the specified quantity per order.
  • Number of Orders: The system splits the total quantity into a specified number of smaller orders.
• Order Preference: Choose from Faster Execution, Better Price, or Fixed Price.
  • Faster Execution: Ensures orders stay at the top of the order book and adjust with market prices for faster execution.
  • Better Price: Keeps orders at a fixed distance from the top of the order book, adjusting for better execution prices.
  • Fixed Price: Submits each sub-order at a fixed price specified by the user.
• Reduce-Only: Applies to one-way position mode in perpetual contracts. For two-way positions, switch to the Close Position tab.
• Advanced Options: Set activation conditions and price limits for the Iceberg Strategy.

Viewing/Canceling Orders

• After placing the order, go to Current Orders > Iceberg Strategy to view active or pending orders.
• Completed or canceled orders can be viewed in Order History.
• Click Details to view specific information about the Iceberg Strategy.

Viewing Order History

• Completed or canceled Iceberg orders are stored in Order History. Click Details to view more information.

Iceberg Strategy Details

• For pending, active, or completed Iceberg Strategies, click Details to view the status, parameters, and execution details.

App Version

Placing an Iceberg Order

Viewing/Canceling Orders

• After placing the order, go to Current Orders > Iceberg Strategy to view active or pending orders.
• Completed or canceled orders can be viewed in Order History.
• Click Details to view specific information about the Iceberg Strategy.

Viewing Order History

• Completed or canceled Iceberg orders are stored in Order History. Click Details to view more information.

Iceberg Strategy Details

• For pending, active, or completed Iceberg Strategies, click Details to view the status, parameters, and execution details.

Advanced Options

• For buy orders: The strategy activates when the market price ≤ activation price.
• For sell orders: The strategy activates when the market price ≥ activation price.

• Ensures all sub-orders are executed within the specified price range.

Examples

• Action: Buy 1 BTC using the Iceberg Strategy.
• Splitting Method: Number of Orders = 10.
• Order Preference: Faster Execution.
• Outcome: The system places 10 limit orders of 0.1 BTC each at the best available price. Each order is executed sequentially after the previous one is filled.

• Action: Buy 1 BTC using the Iceberg Strategy.
• Splitting Method: Number of Orders = 10.
• Order Preference: Better Price with a price distance of 20.
• Activation Price: 30,320 USDT.
• Order Limit Price: 50,000 USDT.
• Outcome: The system places 10 limit orders of 0.1 BTC each at a price 20 USDT below the best bid price. Orders are executed sequentially after the previous one is filled.

Frequently Asked Questions (FAQs)

• Iceberg Strategy: Focuses on achieving better prices for large orders by splitting them into smaller orders.
• Iceberg Order: Hides the order quantity to conceal trading intentions.

• Iceberg Strategy: Aims for better execution prices by splitting orders and adjusting prices dynamically.
• TWAP: Focuses on achieving an average price over a specified time period, prioritizing speed over price.

• Use Iceberg Strategy if you want better execution prices and are willing to trade slower.
• Use TWAP if you want to achieve an average price over time and prioritize execution speed.