Skip to main content

Chaser Orders

Chaser Orders place and continuously reprice post-only limit orders near the top of book until the target size is filled or the chaser stops (cancelled, fully filled, or no position left when reduce-only).

caution

Chasers rapidly place/cancel orders. Use on exchanges that support fast post-only updates, and monitor fees/limits.

Starting & Stopping​

  • Chasers run inside the trading worker; they watch the orderbook and reprice on every store update.
  • Start a chaser via trading actions (e.g., chase commands) and stop it by:
    • Cancelling the chaser (chasers cancel <id> or chasers cancel all in CLI).
    • Closing relevant positions when running reduce-only.
    • Hitting full fill of the requested size.

CLI Management​

  • List chasers: chasers
  • Cancel one: chasers cancel <id|prefix>
  • Cancel all: chasers cancel all
  • Live view: watch chase for a streaming view of active chasers.

Each entry shows symbol, side, filled/total size, attempts, status, and stop reason when done.

How It Works​

  • Places post-only limit orders at the predicted best bid/ask minus/plus a tick distance.
  • If orders are rejected or filled/cancelled, the chaser:
    • Increments tick distance on repeated post-only rejects.
    • Recomputes price from current best bid/ask and reposts.
    • Tracks fills; marks complete when size is fully filled.
  • For reduce-only chasers, if the opposing position vanishes, the chaser stops.
  • Hyperliquid-specific: uses fill-based tracking and REST fill checks to handle delayed order status updates.

Cancellation & Cleanup​

  • Chasers unsubscribe from updates when stopped and attempt to cancel any live orders.
  • Manual cancellation removes the instance and attempts to cancel outstanding orders.

Tips​

  • Use sensible sizes; exchanges may throttle frequent cancels.
  • If you see “failed to place after retries,” widen tick distance or check exchange status.
  • For reduce-only chasers, ensure the position still exists or the chaser will stop immediately.