Dip Sniper

Published on Jun 30, 2023Updated on Jun 10, 20244 min read

What is Dip Sniper?

Dip Sniper is a 0-fee trading strategy for buying crypto at a below-market price. It guarantees that you buy at least a certain ratio of crypto at your desired price on a selected date without the fear of missing out (FOMO).

dip sniper

Three key parts of Dip Sniper

  1. Buy price In the card above, 24,000 USDT is the price for buying Bitcoin (BTC) at the dip. That means your order will be settled at 24,000 USDT when your strategy expires. Based on your judgment of price trends, you can place orders using cards with different prices.

  2. Guaranteed buy ratio The guaranteed buy ratio is the ratio of your order that's settled at the locked price (buy price) when your strategy expires. Even if the market price is higher than the locked price, you can still buy the guaranteed quantity of crypto at the locked price.

Assume you place a buy order for 1 BTC using the card above. If the market price of BTC is higher than the locked price of 24,000 USDT when your strategy expires, you will buy 0.2057 BTC at 24,000 USDT. If the market price is lower than 24,000 USDT, your order will be fully settled at 24,000 USDT.

3. Period You can choose a suitable lock-in period based on how you predict market fluctuations. With the card above, your funds will be locked for 66 days, and your strategy will be executed based on the market price when it expires.

Earnings

Market price on expiration date Settlement rules
Market price > Locked price Order settled at the locked price:
Buy quantity = Order quantity × Guaranteed ratio
Remaining funds are returned to your account.
Market price ≤ Locked price
Order settled at the locked price:
Buy quantity = Order quantity

Dip Sniper is suitable for traders who think current price levels are relatively low. They believe price trends won't fall sharply during the lock-in period or want to take advantage of a strategy in the long term, without worrying about the price falling in the short term.

Use case: Assume the last price of BTC is 20,000 USDT. You choose a BTC 19,000 card with a guaranteed ratio of 20% and a period of 3 days, and you lock a buy quantity of 1 BTC. ‌On the strategy's expiration date:

  • If the price of BTC is 21,000 USDT, your buy order is partially settled at 19,000 USDT for 0.2 BTC, and the remaining funds are returned to your account.

  • If the price of BTC is 18,000 USDT, your buy order for 1 BTC is fully settled at 19,000 USDT.

What are the rules for advance buying?

Currently,advance buying is only for BTC and ETH.

  1. Can I buy crypto before the expiration date? Yes, if your bot has been running for more than 24 hours, you can apply for advance buying of a bot that has a term of more than 2 days. The cut-off time for advance buying is 24 hours before the expiration date.

  2. When can I apply for advance buying? You can apply for advance buying from 24 hours after the bot starts until 24 hours before it expires. For example, if a bot:

    • Was created at: 08:00 am on 2023/03/01 UTC

    • Expires at: 08:00 am on 2023/03/11 UTC Then the period in which you can apply for advance buying is:

    • Start time: 08:00 am on 2023/03/02 UTC

    • End time: 08:00 am on 2023/03/10 UTC

  3. When will crypto be credited after an advance buying? If you apply for advance buying at any time during the day (T), the corresponding crypto will be credited at around 10:00 am on the next day (T+1) UTC.

  4. What determines the price of an advance buying? The buy price is determined by the market price at the time of the advance buying application and the bot’s rebalancing cost. The advance buying quote will be displayed at the time of placing orders and refreshed every 30 seconds.

https://www.okx.com/learn/dip-sniper