How it places orders
- Submits a single post-only limit order one tick below the best ask (buys) or one tick above the best bid (sells), so it sits ahead of every order queued at the touch. When the spread is a single tick, that price is the best bid or ask itself. The order rests passively and never crosses the spread.
- Orders are refreshed every 500ms: whenever the top of book moves, the resting order is repriced to the new best price.
- Partial fills are tracked, and the remaining size keeps chasing until the order is fully filled or canceled.
- If a Chase To price is set, the order reprices only as far as that limit and then rests there instead of leaning past it. The chase stops and cancels once the best bid (buys) or best ask (sells) itself moves past the limit, and a chase whose Chase To is already past the touch is rejected at submission.
- One chase runs at a time per wallet and market.
When to use it
- Capture maker fills near the top of the book without paying the spread.
- Work an order in a moving market without manually canceling and replacing limit orders.
- Exit a position passively: enable Reduce Only, or select Chase as a TP/SL exit type.
Parameters
Example
You want to buy 100 HYPE with the book at $44.600 bid, $44.620 ask. HYPE prices step in $0.001 increments at that level, so your post-only buy rests at $44.619, one tick under the ask and ahead of everything queued at $44.600. As the book moves it reprices to stay one tick inside the ask. With Chase To at $45.00 it keeps working up to that price and rests there rather than passing it, then cancels any unfilled remainder once the bid trades up through $45.00.A chase rests on the passive side only, so it is not guaranteed to complete. In a fast trending market the price can run ahead of your order, and with a Chase To set you may finish with a partial fill.