GRVT aims to prevent malicious trading through a set of quantitative rules.
Note: VIP Tier 9 Users are exempt from these rules, while VIP Tiers 1 to 8 will follow the rules set below.
Rules
The current rule is a symbol-specific rule.
For each specific symbol (e.g., BTC-USDT perpetual), during each 10-minute cycle, we first check whether the (1) Recording Threshold has been breached, if yes we will check (2) Ban Threshold, otherwise, we do not need to check (2)
For a specific symbol, if it breaches the (2) Ban Threshold, we will apply the “Restrictions” below
Indicator | (1) Recording Threshold | (2) Ban Threshold |
Unfilled Ratio (UFR) | All orders count >=10,000 | UFR >= 0.99 |
Good-Til-Canceled Ratio (GCR) | Good-Til-Canceled Orders >=5,000 | GCR >= 0.99 |
Immediate-or-cancel (IOC) & Fill-or-kill (FOK) Expire Ratio (IFER) | IOC & FOK orders count >= 5,000 | IFER >= 0.99 |
Dust Ratio (DR) | All orders count >=10,000 | DR >= 0.9 |
Restrictions
Single Symbol Violation
If a symbol violates, cannot open or increase position on this symbol within next 5 minutes
Will be lifted automatically after 5 minutes
Not apply to other symbols; Not apply to close or reducing order on this symbol
Repeated Single Symbol Violation
If a symbol violates over 10 times in the past 24 hours, cannot open or increase position on this symbol within next 2 hours
Will be lifted automatically after 2 hours
Not apply to other symbols; Not apply to close or reducing order on this symbol
Account Violation
If there are 10 or more than 10 symbols which violate at the same time, the account cannot open or increase position on any symbol within next 2 hours
Will be lifted automatically after 2 hours
Not apply to close or reducing order on this symbol
Appendix: Definitions
Indicator | Calculation |
Unfilled Ratio (UFR) | FR = USD Value of all Executed Orders placed in the past 10 min / USD Value of all Orders placed in the past 10 min
UFR = 1- FR |
Good-Til-Canceled Ratio (GCR) | Invalid canceled order: has been placed for less than 2 seconds before being canceled Good-Til-Canceled order: … more than 2 seconds…
GCR = Invalid canceled orders / Good-Til-Canceled Orders |
Immediate-or-cancel (IOC) & Fill-or-kill (FOK) Expire Ratio (IFER) | IFER = Expired IOC & FOK Orders / All IOC & FOK Orders |
Dust Ratio (DR) | DR = Number of Dust Order (USD Notional < $50) / Total Order Count |