Order execution and management system to trade on Deribit

Summary

In this video, Quin Chander demonstrates how their trading API interacts with a Derit account. The demonstration covers placing, modifying, and canceling orders for Bitcoin and Ethereum perpetual contracts. Key functions such as retrieving order IDs, adjusting amounts, and querying the order book and positions are showcased. Additionally, Quin highlights the performance and latency analysis, available in the attached documentation. The video serves as an informative guide for users looking to understand the practical application of the code, with further insights accessible via GitHub.

Takeaways

• 😀 Demonstrating the functionality of a trading API for placing, modifying, and canceling orders.
• 😀 The script covers Bitcoin and Ethereum perpetual contracts as examples for the demo.
• 😀 The process of placing three orders of different contract types using the provided code.
• 😀 The code is compiled and executed to interact with the trading API, placing the orders successfully.
• 😀 Order modification can be performed by retrieving the order ID and entering the new values for the order.
• 😀 Order cancellation involves using the correct order ID and sending a cancel request to the API.
• 😀 The `get_open_order` function displays all active orders and allows users to retrieve order IDs.
• 😀 The video demonstrates how to change the order amount and price for an existing order.
• 😀 The `get_order_book` function retrieves the bid and ask prices for a given contract.
• 😀 The `get_positions` function helps to view the trader’s positions for a specific contract.
• 😀 Detailed documentation, including performance analysis and latency report, is available in the GitHub repository.

Q & A

What is the purpose of this video demonstration?

The video demonstrates how the code interacts with the Derit account, showcasing how to place, modify, and cancel orders for different contracts (Bitcoin and Ethereum Perpetual) within a trading system.

What is the initial state of the user's Derit account before placing any orders?

Before placing any orders, the Derit account has three active orders, which the user cancels to start with a clean slate, leaving no active orders in the account.

How does the code allow users to place orders?

The code includes functions that allow users to place orders by selecting the desired contracts (e.g., Bitcoin and Ethereum Perpetual), compiling and executing the code, which triggers the order placement on the trading platform.

How are the orders placed demonstrated in the video?

The user compiles the code, executes it, and the system shows a menu of available functions. By selecting the 'Place Order' function, the user successfully places three different orders, which are then visible in the Derit account.

What is the purpose of the 'Get Open Order' function?

The 'Get Open Order' function retrieves all the active orders made by the trader, providing order IDs that are necessary for modifying or canceling specific orders.

How is an order canceled in the demonstration?

To cancel an order, the user retrieves the order ID using the 'Get Open Order' function, then inputs the order ID into the cancellation function. The system responds confirming the cancellation, and the order is removed from the Derit account.

How does the user modify an order in the demonstration?

The user modifies an order by retrieving the order ID through the 'Get Open Order' function, then updating the order amount and price. The modified order details are sent to the system, and the changes are reflected in the Derit account.

What change was made to the Bitcoin Perpetual order during the demonstration?

The amount for the Bitcoin Perpetual order, initially set to 20, was modified to 50. The new amount and price were entered, and the system confirmed the updated order.

What is shown when the user checks the order book?

When the user checks the order book, the system displays the bid and ask prices for the selected contract, in this case, the Bitcoin Perpetual contract.

What are the positions displayed in the video?

The positions show the current standing of the trader's open positions for the selected contract. In the demonstration, the positions for the Bitcoin Perpetual contract are displayed to provide an overview of the trader’s position.