bitmex-order-types

name	bitmex-order-types
version	1.0.0
description	BitMEX order types, execInst modifiers, and TIF options with practical examples.
metadata	{"openclaw":{"category":"finance"},"requires":{"bins":["bitmex"]},"depends":["bitmex-shared"]}

bitmex-order-types

BitMEX supports seven order types, several execInst modifiers, and four time-in-force values. Always use --validate before live submission.

Order Types

Limit (default)

Posts to the order book. Earns maker rebate when filled passively.

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

Market

Fills immediately at best available price. Pays taker fee. Avoid when possible.

bitmex order buy XBTUSD 100 --order-type Market --validate -o json 2>/dev/null

Stop

Triggered market order. Submits a market order when stopPx is reached.

# Stop loss: sell if price drops to 48000
bitmex order sell XBTUSD 100 --order-type Stop --stop-px 48000 \
  --exec-inst ReduceOnly --validate -o json 2>/dev/null

StopLimit

Triggered limit order. When stopPx is touched, places a limit at --price.

bitmex order sell XBTUSD 100 --order-type StopLimit \
  --stop-px 48000 --price 47900 --exec-inst ReduceOnly \
  --validate -o json 2>/dev/null

MarketIfTouched

Triggered market order when price moves to stopPx (in the favorable direction).

# Buy if price drops to 49000 (entry on dip)
bitmex order buy XBTUSD 100 --order-type MarketIfTouched --stop-px 49000 \
  --validate -o json 2>/dev/null

LimitIfTouched

Triggered limit order when price touches stopPx.

bitmex order buy XBTUSD 100 --order-type LimitIfTouched \
  --stop-px 49000 --price 49100 --validate -o json 2>/dev/null

Pegged

Tracks best bid or ask with an offset. Used for market-making.

Note: The CLI does not currently expose --peg-offset-value or --peg-price-type flags. Pegged orders must be submitted via the REST API directly or via bitmex order buy --order-type Pegged without peg parameters (which will be rejected by the exchange until support is added).

# Validate that Pegged order type is accepted by the CLI (peg params set server-side or via raw API)
bitmex order buy XBTUSD 100 --order-type Pegged \
  --validate -o json 2>/dev/null

execInst Modifiers

Multiple modifiers can be combined with commas.

Modifier	Effect
ParticipateDoNotInitiate	Post-only: cancel if would take
ReduceOnly	Never increase position size
Close	Close entire position
LastPrice	Trigger based on last trade price
IndexPrice	Trigger based on index price
MarkPrice	Trigger based on mark price (default for stops)

# Post-only limit (maker rebate guaranteed or cancel)
bitmex order buy XBTUSD 100 --price 50000 --order-type Limit \
  --exec-inst ParticipateDoNotInitiate -o json 2>/dev/null

# ReduceOnly stop: cannot flip position
bitmex order sell XBTUSD 100 --order-type Stop --stop-px 48000 \
  --exec-inst ReduceOnly,MarkPrice -o json 2>/dev/null

Time-In-Force

TIF	Behavior
GoodTillCancel	Default; remains open until filled or cancelled
ImmediateOrCancel	Fill whatever is available immediately, cancel rest
FillOrKill	Fill entirely or cancel entirely
Day	Expires at end of trading session

bitmex order buy XBTUSD 100 --price 50000 --order-type Limit \
  --tif ImmediateOrCancel --validate -o json 2>/dev/null

Contingency / Linked Orders

BitMEX supports paired order logic via contingencyType and a shared clOrdLinkID. The CLI does not currently expose these as flags; use the REST API for these order types.

Type	Behavior
OneCancelsTheOther	OCO: when one order fills or triggers, the linked order is cancelled
OneTriggersTheOther	OTO: when the first order fills, the linked order becomes active
OneUpdatesTheOtherAbsolute	OUO: amending one order propagates the change to the linked order

Typical use: a stop-loss + take-profit pair as OCO so that one filling automatically cancels the other. These must currently be submitted directly via the BitMEX REST API with matching clOrdLinkID values.

Amending Orders

Change price or qty on an open order without cancelling and re-placing:

ORDER_ID=$(bitmex order list --reverse --symbol XBTUSD -o json 2>/dev/null | \
  jq -r '[.[] | select(.ordStatus=="New")][0].orderID')

bitmex order amend --order-id "$ORDER_ID" --price 50500 -o json 2>/dev/null
bitmex order amend --order-id "$ORDER_ID" --qty 200 -o json 2>/dev/null