Work out an order in the Trade simulator
The Trade simulator slides out from the side of every page. Put in one order or several and see what each would cost on each exchange’s order book now, fees included.
The Trade simulator works out what a market order would cost on each exchange’s live order book, its fee included. It’s on every page with prices: a tab on the edge of the screen, at its foot on a phone, and a Trade simulator button in every status bar. It holds up to 10 orders, kept in this browser.
Putting an order in
Add an order starts one. Choose its market, Spot, Perps, Futures or Options; the coin; Buy or Sell, Long or Short on perpetuals; an amount in your currency, or an option’s size in coins; and one exchange, or Best of my exchanges to compare all of yours that list it (Best of every exchange on futures and options). A future takes its expiry, and an option its expiry, call or put, and strike. A perpetual has Held for, 8 hours, 1 day, 7 days or 30 days, for its funding at today’s rate.
Work it out
Work it out puts an order in and opens the panel:
- on each row of the spot and perpetuals tables under Markets, on the side the table shows;
- on each exchange on a coin’s page, at the page’s side and amount, and in the Options trade simulator on its futures and options page;
- on each row of the futures and options table: the month’s call at the money, and the quarter’s future;
- on a trade on Signals, and a coin’s Futures spread trade and Options priced apart: a pair, bought on one exchange and sold on the other.
Reading the figures
Across your exchanges, an order shows Cheapest of yours, with its Avg fill price, its Price impact, its fee and its Total cost, then how much less it is than the dearest. A book more than 5% wide, too thin to price, is left out. An option shows its average price and volatility, and what you pay or get; a pair, what it Makes or Loses with both fees.
Fees are at your tiers where you’ve given them (Give your tiers opens them in Set up), and each exchange’s standard rate otherwise; futures and options at the standard rate. Books are read as an order goes in and about every minute while the panel is open, never while it’s closed. Market orders only: a limit order waits on the book, so its depth can’t price it.
On the site
Related articles
- Set your own fee tiers
Tell the Trade simulator your trading volume on each exchange and it takes fees at your tier. Signals and the spot scoreboard can use the same tiers.
- How to read a coin’s page
A coin’s page puts every exchange’s price side by side: the middle of each order book, the spread, the depth, what a market order would really get, and the books merged into one.
- Reading Signals
Signals lists where two exchanges are apart on a price by more than it costs to trade both sides, on spot, perpetuals, and futures and options.
From the blog
- What order book depth means for a big order
An exchange's best price is only the first level of its book. A big order goes deeper, and the exchange with the lowest price isn't always the cheapest place to fill it.
- What an options market order really costs
A market order on an option takes the best price, then the next, until it's filled. Why options make that cost more, and how to see where it costs least.
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