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Mar 3, 2021

1) How I learned to stop worrying and love rate limits

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2) NOT INVESTMENT ADVICE. NOT TRADING ADVICE. (Sorry for the deleted thread -- had a key typo at the start...)

3) People constantly want higher ratelimits. But not all orders are the same. The core metric here: $ volume per order sent. In other words, how efficient are your orders?

4) What do FTX's users look like? Well, here is $ traded / orders sent for the top 20 order senders on FTX.

5) So, one note is that some takers have fewer orders per trade, which makes sense. But even when selecting for liquidity providers, there's a huge range. Some customers are 75x more efficient than others!

6) What's happening? Well, this, basically:

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Mar 3, 2021

5) Anyway... So what about the other mistake? Well, let's say you want to provide liquidity. A common strategy is: Send a bid 0.20% below the best bid, and an offer 0.20% above the best offer.

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7) And, in case you're wondering who reaches out to us asking for higher ratelimits: it's not the people around $100.

8) So anyway, we are working on increasing throughput and decreasing latency, which is long overdue. Also, check yo orders.

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Tbh FTX is head of basically every other exchange regarding rate limits. I try to keep the amounts of req as low as possible. I think every dev should be respectful of 3rd party APIs. It's hard to implement gainzybot on other exchanges due to their way stricter rules.