BitMEX Change in Spam Order Size Threshold
01 June 2020
BitMEX are raising the min order size they consider to be spam from 0.0025 XBT to 0.01 XBT on the 5th June 2020.
BitMEX announced in their Telegram group that the change was coming on the 5th June 2020. Here is the full quote from BitMEX:
Starting 04:00 UTC on 05 June 2020, the threshold used to detect spam orders will be increased from 0.0025 XBT to 0.01 XBT. For more details on the spam mechanism please see our REST API docs on Minimum Order Size here: https://www.bitmex.com/app/restAPI#Order-Minimum-Size-Limits.
After this change accounts with too many open orders with a value less than 0.01 XBT each will be labeled as a Spam Account (prior to the change, the value is 0.0025 XBT).
This change is part of an ongoing effort to improve the quality of the tradable liquidity on the platform. If you have any further questions, please contact Support via our contact from: https://www.bitmex.com/app/support/contact.
You can read the message in their Telegram group.
How does this affect Alertatron users
Users are recommanded to ensure all their orders are > 0.01 XBT in size before the 5th June. This is around 100 contracts at the current price. If we see a large number of spam orders still being placed after this time, we will raise the min order size on BitMEX to 0.01 XBT to protect the service and other customers.
This is not something we can 'work around' for you. The solution is to simply trade 100 contracts or more for any limit orders.
Some images from Unsplash
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