Trading on Nitro Spreads

Placing an order in Nitro Spreads

Select a spread tile

The available spreads on Nitro Spreads are organized in a grid, where every tile is a unique combination of spot and futures instruments. Every spread has a Bid and Ask tile. Selecting either one of these will open up the order book for that spread.

Choose direction

You can trade a spread using either the Buy or Sell tab. The specific direction for each leg is visible at the top of the order book.

Price and quantity

For USDT-margined spreads, the price is shown in USDT, and the quantity is measured in the base currency crypto. Whereas for Crypto-margined spreads, the price is in USD and the quantity is also measured in USD.

Type of Orders

There are currently three types of orders available in Nitro Spreads:

1. Limit order (default)

   1. If you want to immediately fill an order, you can simply place an order with a price that crosses the book.

   2. Conversely, you can add a passive order into the book by placing an order with a price that doesn’t cross the book. Note: Orders that remain open after 7 days will be automatically canceled.

2. Immediate-or-cancel (IOC)

   1. IOC orders are available in the order placement section. Simply check the box to place the order as an IOC order.

3. Post-only

   1. Post-only orders are available in the order placement section. Simply check the box to place the order as a Post-only order.

Placing the order

After you have selected the spread and direction, filled in the price and quantity for your order, simply confirm your order to place it.A message at the top of the screen will inform you that your order has been placed. If it was an order that immediately crosses the book, there will be an additional message letting you know the order was filled, and providing more details of your trade.

Post-trade

Positions

After trading a spread in Nitro Spreads, it will show up as two separate leg positions (for futures) under the Positions tab. For spreads involving spot trading, the spot leg will be reflected under the Assets tab, while the futures leg will show up under Positions.From here, it’ll work the same as a position that was opened via the central limit order book (CLOB). You can choose to trade these positions out in the CLOB or trade them out via Nitro Spreads again.

Order history

In the Order history tab, you’ll be able to see your historical orders along with details regarding that order, such as the direction of the trade, the spread you traded, the size, and price.

Trade History

In the Trade history tab, you will be able to see the historical trades along with details on that trade, such as direction of the trade, the spread you traded, fees for each individual leg, the size, and price.

Trade tape

Your trade will also be printed in the trade tape anonymously. The trade tape is a public trade feed of all trades in Nitro Spreads. Trader identities are hidden and you’ll only be able to see generic details such as direction, spread, size, price, and time of the trade.