BitTap enforces reasonable rate limits on trading activities. These limits primarily apply to API requests and order submission frequencies to prevent system overload and the misuse of trading resources.
Purpose of Rate Limits
- Ensuring Platform Stability: Rate limits help prevent system overload when processing high-frequency requests, ensuring the platform operates smoothly and efficiently.
- Preventing Market Manipulation: Rate limits prevent traders from engaging in high-frequency trading strategies that could manipulate the market, ensuring fair trading opportunities for all users.
- Protecting User Interests: By enforcing rate limits, BitTap minimizes execution delays due to excessive trading volume, ensuring accurate and timely order execution.
Rate Limit Rules
1. API Request Limits
- Request Frequency Limit: Each API key has a maximum number of allowed requests within a short period. Users must ensure they do not exceed the designated limit per time unit; otherwise, they will receive a rate-limit response.
- Requests Per Second (RPS) Limit: Each API key is allowed a maximum number of requests per second. Generally, BitTap allows between 10 to 20 requests per second, depending on the user level and VIP status.
- Maximum Requests Per Minute: API users have a limit on the total number of requests allowed per minute. The default limit set by BitTap is 200 to 300 requests per minute. Requests exceeding this limit will be automatically rejected, and users must wait before sending additional requests.
2. Order Submission Frequency Limits
- Maximum Orders Per Second: BitTap restricts the number of orders a user can submit per second to prevent excessive high-frequency trading. Generally, users can submit a maximum of 5 to 10 orders per second.
- Maximum Orders Per Minute: Each user can submit up to 100 orders per minute. This restriction applies to all futures products, including spot futures, perpetual futures, and standard futures contracts.
3. Order Cancellation Frequency Limits
- Maximum Cancellations Per Second: The number of cancellations allowed per second is limited, typically up to 5 cancellations per second. This measure prevents excessive bot-driven cancellations that could affect market liquidity.
- Maximum Cancellations Per Minute: Users can cancel up to 50 orders per minute. If this limit is exceeded, additional cancellation requests will be automatically rejected by the system.
4. Order Modification Rate Limits
- Maximum Modifications Per Second: Users can modify order prices or quantities within a given timeframe, but they are limited to 3 to 5 modifications per second.
- Maximum Modifications Per Minute: Users can make up to 50 order modifications per minute. If this limit is exceeded, further modification requests will be restricted.
VIP Levels & Rate Limits
BitTap offers different rate limit benefits based on user levels. VIP users or institutional traders enjoy higher rate limits, with specific advantages as follows:
- VIP 1 to VIP 3: An additional 10% increase in request frequency and order submission limits compared to standard users.
- VIP 4 to VIP 6: A 20% increase in rate limits, with higher API request and order submission caps.
- VIP 7 and Above: Top-tier VIP users or institutional traders enjoy the highest rate limit increase of 50%, ensuring an advantage in high-frequency trading.
Risk Control Mechanism
To prevent abuse of rate limits, BitTap has implemented an automated risk control mechanism. If a user triggers rate limits multiple times within a short period, the system may temporarily restrict or freeze their account. Possible actions include:
- Throttling Requests: The system will extend response times to slow down excessive requests until the user’s request rate returns to normal.
- Account Suspension: In cases of severe violations, BitTap reserves the right to temporarily suspend the user’s account. Users must contact customer support for appeal and account reinstatement.
- API Key Disabling: API users who repeatedly exceed rate limits risk having their API keys temporarily disabled. Re-enabling them will require identity verification.
How to Check Rate Limits
Users can monitor their rate limits through the following methods:
- API Console: Users can view real-time API request counts and remaining allowed requests.
- Account Dashboard: Through the BitTap account center, users can track order submission frequency, cancellation frequency, and order modification history.
- Warning Notifications: When users approach rate limits, BitTap will notify them via pop-up messages or emails to prevent failed operations due to exceeded limits.