A
Active Orders
Orders that are running for the duration of the trading day
Ask
Sell order
Assets
A digital representation of value that you can transfer, store, or trade electronically
B
Balance Collateral
Balance for margin and futures trading
Balance Main
Balance that accepts deposits and/or withdraws cryptocurrency and national currency
Balance Spot(Balance Trade)
Balance for spot trading, this balance is intended solely for non-marginal trading (placing orders), as well as for the currency exchange
BBO
BBO (Best-Bid-Offer) is a function that determines the prices of Limit orders according to market conditions. When you activate the BBO option when placing Limit orders, the system automatically selects the best market prices for executing these orders in one of two ways. Counterparty Method: The system sets the order price at the level of the best available market price in the opposite direction. For Buy orders, it is the lowest Ask price in the order book. For Sell orders, it is the highest Bid price. Queue Method: The system sets the order price at the best price on the same market side as the order itself. For Buy orders, it is at the level of the highest current buy price (Bid); for Sell orders, it is at the highest Ask price.
Bid
Buy order
C
Card token
A unique identifier for a user’s card, allowing for secure transactions without storing sensitive card details. This token is used to facilitate payments and manage subscriptions without exposing the actual card information.
Codes
See WhiteBit Codes
Collateral
The cryptocurrency asset that the borrower pledges as a guarantee that the loan is going to be repaid
Conditional Orders
“Conditional Orders” is a collective term for orders with conditions. Currently, these include OTO (One Triggers the Other) and OCO (One Cancels the Other) orders.
Crypto Lending
A unique tool for passive income that allows depositing funds in specific plans and receiving a percentage from holding them for particular periods. Allows you to make profit by lending your funds to the exchange in a certain cryptocurrency by using one of the available plans
Colocation
The practice of placing trading servers in close physical proximity to an exchange’s matching engine to minimize latency. This setup is crucial for high-frequency trading (HFT) operations.
D
Deal (Trade)
A transaction between two parties in which an asset or commodity is bought or sold at an agreed-upon price, with a record of the transaction typically including information such as the trade price, amount, date, and any fees or commissions associated with the trade.
Derivative
Crypto derivatives are contracts that derive their value from a primary underlying asset. In the case of crypto derivatives, the primary asset would be a cryptocurrency such as Bitcoin
Depth
Same as order book
E
EEA
The European Economic Area (EEA) is an international agreement that enables the extension of the European Union’s single market to non-EU member states. It consists of the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway).
F
Fee
A cryptocurrency transaction fee that is charged to users when performing crypto transactions
Fiat
Is a currency (a medium of exchange) established as money, often by government regulation, but that does not have intrinsic value (value independent of the nominal value, such as a precious metal might have).
Finished orders
A list of all completed(executed) orders that includes information such as the order id, date, amount, price, conditions and any other relevant data related to the order
Futures
Futures Trading
Users can open Long and Short positions and use leverage and they pay a fee for using borrowed funds not to the exchange but to each other.
Free Collateral
The amount of funds available for trading without additional borrowing in margin and futures trading. This represents the portion of your collateral balance that is not currently used to maintain open positions and can be freely used to open new positions or withdrawn. Also referred to as “free margin” in API responses.
G
H
High-Frequency Trading (HFT)
An automated trading strategy that involves executing a large number of orders at extremely high speeds, typically utilizing colocation services to minimize latency.
I
J
K
Kill-switch timer
A function that cancel all orders automatically if the timer is set. It only cancel orders with (that are grouped by) concrete asset.
L
Lending Plans
See Crypto Lending
Leverage
The ratio of borrowed funds to your own funds used to open a position in margin or futures trading. For example, 10x leverage means you can control a position worth 10 times your initial margin. Higher leverage increases both potential profits and potential losses.
Limit order
This order allows you to buy or sell an asset at a fixed price
Latency
The time delay between sending a trading order and its execution. In high-frequency trading, latency is measured in milliseconds or microseconds.
M
Maker
Trader who places limit orders on the order book, which means they set the price and quantity of the trade they want to make, and wait for another trader to accept their order
Maker fee
The fee charged when a maker order is executed. This is typically lower than the taker fee to incentivize providing liquidity to the market. The maker fee is expressed as a percentage of the trade amount.
Maintenance
Short for Maintenance Margin Requirement. The minimum amount of collateral that must be maintained in your account to keep positions open. If your account falls below this level, you may face liquidation.
Maintenance Margin Requirement
The minimum percentage of collateral required to maintain open positions in margin or futures trading. If your account’s margin fraction falls below this threshold, your positions may be automatically liquidated to prevent further losses.
Margin
The amount of funds from your collateral balance that is currently allocated to maintain open positions in margin or futures trading. This represents the portion of your capital that is “locked” to cover potential losses on your active positions.
Margin Fraction
A risk metric calculated as the ratio of your total collateral to your margin. It indicates how well-capitalized your positions are. A higher margin fraction means lower risk, while a lower margin fraction indicates you’re closer to the maintenance margin requirement. In the API, a value of 1000000000000000000000 indicates no open positions.
Margin trading
The use of exchange’s funds to trade assets, which allows placing orders for sums exceeding the initial deposit several times. The latter is called “margin” and its size depends on the leverage.
Market
Assets that can be traded for each other on an exchange.
Market activity
Market information(last price, volume, high, low, change) for last 24 hours
Market order
This order allows you to buy or sell an asset immediately at the best available price.
Market Pair
See Market
Memo(destination tag)
A special identifier used in transactions. To deposit and withdraw some cryptocurrencies, such as Ripple (XRP) and Stellar (XLM), you must specify a memo.
Money
The currency that is used to buy and sell assets on a trading platform.
Multinetwork
Cryptocurrency like USDT obtained in different networks, like: OMNI, Tron, Ethereum etc. Network should be selected in order to make a deposit or withdraw.
Matching Engine
The core system of an exchange that pairs buy and sell orders. In colocation setups, trading servers are placed close to the matching engine to minimize execution time.
Max Position
The maximum position size allowed for a specific market or account in margin or futures trading. This limit is set to manage risk and prevent excessively large positions that could impact market stability or result in significant losses.
Min. Order Amount
The minimum quantity of stock currency required to place an order in a specific market. This value varies by market and is defined in the market configuration. Orders below this threshold will be rejected.
Min. Order Total
The minimum total value (calculated as amount × price) in money currency required to place an order in a specific market. This ensures that orders meet a minimum economic value. Orders with a total below this threshold will be rejected.
Min. size increment
The minimum step size allowed for order amounts or prices in a specific market. This determines the number of decimal places permitted when placing orders. See also Precision.
N
Nonce
An arbitrary number that can be used just once.
O
OCO orders
This order allows you to place a combination of two orders at the same time. It combines the limit order with a stop-limit, on condition that only one of them will be executed. The feature of this order is that as soon as one of the orders is partially or completely executed, the second order is automatically canceled.
Order Book
A separated list of buy (bids) and sell (asks) active orders for a specific market.
Orders
Simple contracts that allow you to specify which crypto you want to buy or sell, how much of it and for what price. Orders consist of trades(deals). The execution of all deals executes the order. There are different types of orders: Market order, Limit order, Stop market order, Stop limit order, OCO order. Orders may have executed(finished) or unexecuted(active) status.
Orders Pending
Orders that request an exchange to buy or sell an asset at a set price and conditions.
OTO
OTO (One Triggers the Other) is a trading feature where fulfilling a primary order automatically sets corresponding stop loss and take profit orders. These orders are placed based on predefined price conditions. Additionally, it allows specifying prices for both or just one of these orders upon creating the primary order.
P
Pair
See Market
Perpetual Futures(Futures)
A type of derivative contract for trading cryptocurrencies that do not have an expiration date and are rolled over daily
Ping
A keep-alive message sent through the WebSocket connection to prevent automatic disconnection due to inactivity. The WebSocket server closes idle connections after 60 seconds, so clients should send ping messages every 50 seconds to maintain the connection.
Position Mode
A trading mode setting that determines how positions are managed in futures trading. One-Way Mode (default): Only one position direction allowed per market. Hedge Mode: Allows simultaneous long and short positions in the same market. See also Position Side.
Position Side
Defines the position direction for a trade when hedge mode is enabled, and only for Perpetual Futures trading Market. “LONG”: Represents a long (buy) position. “SHORT”: Represents a short (sell) position. “BOTH”: Applies to both long and short positions, typically used in query contexts.
Precision
Is the number of digits to the right of the decimal point
Provider
Fiat currencies has different providers that helps people making deposits and withdraws by bank transfers.
Q
R
Retail Price Improvement (RPI) Order
A specialized order type that can be placed only by Designated Market Makers. It is designed to enhance liquidity and provide improved pricing for retail traders by interacting exclusively with manually placed (non-algorithmic) orders submitted via the Web or Mobile App. RPI orders are post-only and are guaranteed to provide price improvement for retail customers.
Risk Score
An account risk metric that assesses the likelihood of liquidation or margin deficiency in margin and futures trading. It evaluates factors including leverage levels, margin fraction, position sizes relative to account equity, and current market volatility. Higher risk scores may trigger warnings, trading restrictions, or requirements for additional collateral to reduce exposure.
S
Smart Plans
See Crypto Lending
SMART Staking
See Crypto Lending
STP
Self Trade Prevention (STP) is a mechanism that prevents traders from executing trades against their own orders. This feature helps avoid unintentional self-trading and ensures market integrity by automatically canceling or modifying orders that would result in a self-match.
Spot trading
Buying and selling assets for immediate settlement
Stock
Asset that can be traded on an exchange.
Stop limit order
This order has both the stop and the limit prices. When the specified market price at this pair is reached the order gets activated and is being completed as a basic limit order.
Stop market order
This order is completed when the market price reaches a price set by you in advance (the stop price). This type of order is often used to prevent losses in the context of market volatility.
Stop price
A price set by you in advance
Sub-Account
Account (user) with specific permissions (for example disable margin trading) is managed by main user
T
Taker
A trader who accepts an existing order from the order book, which means they take liquidity from the market
Taker fee
The fee charged when a taker order is executed. This fee is typically higher than the maker fee because taker orders remove liquidity from the market. The taker fee is expressed as a percentage of the trade amount.
Ticker
An alphabetic and/or numeric abbreviation of the name of a digital asset. (BTC - Bitcoin ticker).
Total Collateral
The total value of all assets in your collateral balance, including both used margin and free collateral. This represents your total available capital for margin and futures trading, which serves as security against potential losses.
TPSL (Take Profit/Stop Loss)
A risk management feature that allows traders to set predefined price levels at which a position will automatically close. Take Profit (TP) is a price level higher than the current market price where a long position will be closed for profit or a short position will be closed for loss. Stop Loss (SL) is a price level lower than the current market price where a long position will be closed for loss or a short position will be closed for profit. These orders help traders manage their risk and lock in profits automatically.
Trade
See Deal
Trade Volume
See Volume
U
V
Volume(Trade Volume)
The total number of shares or contracts exchanged between buyers and sellers of a market on a given day
W
WhiteBIT Codes
Easy and free way to turn your funds into a unique alphanumeric code.