Make Bids (Limit Buy)
When making bids on our CLOB, you gain the advantage of automatic trade execution against all markets. This means by placing a bid into our system, listings made on any other marketplace at or below your desired price gets automatically executed against. Note that other users on Sniper are also able to directly find and accept your bids.
The following are concepts essential to making bids:
Trading funds are required in order to fill a bid. They are made accessible to all bids for maximum capital efficiency. This allows you to make an infinite number of bids on the same set of funds. For example, if you have 10 SOL of trading funds, you can make 1,000 bids each priced at 10 SOL.
When you create new bids, you have the option to top-off your trading funds with the current bid size (i.e. price x quantity). Topping-off prevents all of your bids from closing at once in the case one of them is executed leaving the rest with insufficient funds to execute.
During fast trading environments, by the time your bid is placed, there may be a sell order in the book that already matches your parameters causing your bid to be automatically filled. This immediate execution will result in your bid receiving taker fees. In order to ensure you are always guaranteed maker rebates, simply select the post option which will prevent buy orders from taking from the book.
So let's try it out!