All information below requires basic knowledge of how the BitMEX works.

Don't interfere when the bot is working

If you plan to trade on BitMEX manually or with another software, please create another account for testing purposes with 3Commas bot. Don't modify anything related to the active position on the exchange when the deal is in progress. If you change something to the positions in the same pair the bot working with, it can lead to unexpected consequences.

Don't do following things with the bot's positions:

  • Change leverage;
  • Modify margin amount;
  • Modify bot's orders;
  • Place manual orders;
  • Modify the position size by selling or buying contracts.

The bot doesn't take funding into consideration

At all in all cases. When the bot calculates Profit\Loss, it ignores all happened funding.

The taker fees are used in the Take Profit price calculation

When the bot calculates the price of closing order, it uses 0.0750% as the fees rate.

When a base or safety order fills, and the Take profit order itself, the bot will use real paid fee. If you get a rebate instead of fees, the bot will include it into calculations without a problem.

Canceling, switching and adding funds manually is not available

You only can close the deal at market rate.

Add fund button will be available in the future.

The profit currency can be only in the quote currency as there is no USD balance.

Volume limit doesn't work.

Liquidated, the new deal status

It means the BitMEX engine liquidated the position, and all its margin lost. The bot also uses it in cases when you manually close the position using the exchange interface.

If you decreased the size of bot's positions, the bot will be unable to close the deal. In that case, the status will be liquidated too. If you increased the size, then the bot will close the position only partially.

Leverage should be configured using the bot settings

There are three options.

  • Not specified - the bot uses the leverage that is active on the BitMEX itself. We don't recommend using it as the exchange reverts it to default values regularly.
  • Cross - as on the exchange itself, the position uses all available funds. The leverage dynamically adjusts to the position size.
  • Custom - you set the leverage you want to use. For XBT_ETHUSD it is from 0.01 to 50, for XBT_XBTUSD it is from 0.01 to 100. Values over 50 should be entered manually into the number field.

The bot sets leverage before every deal. Changing the setting doesn't affect active deals.

When you use the cross or custom leverage, don't change it on the exchange itself when the bot is waiting for a signal to start. Setting the leverage and placing a base order are two separate requests. If you change the leverage between them, the bot opens the position with the latest set leverage, and not with configured in its settings.

The bot can't place safety orders after the liquidation price

The exchange doesn't allow to do it, even if you have free funds of the deal margin.

Also, Stop Loss can't be after the liquidation price.

The bot doesn't start a new deal if there is already an opened position

Before every new deal, the bot checks if there is an opened position. If it found an active position for the same pair as for the deal, it won't open it.

All closing orders are "Reduce-Only"

The bot uses reduce-only option to prevent unnecessary positions in case of problems. A reduce-only order allows only decrease the position size.

The bot uses a BitMEX native trailing order

There is market stop order with trailing available on the BitMEX. When you use trailing in the bot, and the price reaches configured profit level, the system places native trailing order on BitMEX directly. After that, the deal is processing fully by BitMEX system. It works the same way as tailing orders on 3Commas.

Trailing Stop Loss

It also uses the native BitMEX trailing. Please remember following when using TSL on BitMEX.

  • TSL can be in active and passive modes. It starts as passive when the price and TSL levels are updated by our system. In active mode, there is a native trailing order on BitMEX;
  • TSL won't activate if its price is after liquidation price;
  • When you use trailing for both Take Profit and Stop Loss, only one of them can ba active at the moment. TSL will deactivate when TTP becomes active;
  • You can't add safety orders to the active deals with TSL enabled;
  • TSL won't become active and won't be placed on the BitMEX when its level is still below the latest placed or planned safety order;
  • When TSL level moves over the latest placed or planned safety order, TSL becomes active and placed to the BitMEX.
  • Safety orders won't be placed after the active TSL level;
  • When active TSL level moves over placed safety order, the SO will be canceled.
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