Summary

The Future Spread Dashboard (FSPD) enables users to trade two-legged Spot/Future or Future/Future strategies in long-lived public auction Central Limit Order Book markets. Paradigm manages the availability of markets. In FSPD, all orders submitted are blind and are actionable by any user.

Deribit and Bybit are available as venues.

We have Auto-Market Makers running on our Test environment. All available Strategies will have markets made upon them.

High Level

FSPD is centred around the familiar concept of a central limit Order Book. The same as is found on Deribit, Bybit, FTX, OKX, etc. for Futures products.

  • Strategies are composed of Instruments from the underlying venue they are cleared & settled upon.
  • Anyone is able to be the Taker, someone who consumes a resting Order, or a Maker, someone whose Order is consumed.
  • Trades occur when Orders cross and are sent to the underlying venue for clearing & settlement.

At a high level, the FSPD workflow is:

  1. Maker rests a Limit Order upon a Strategy’s Order Book.
  2. Taker consumes a resting Order via either a Limit or Market Order Type.
  3. The crossed orders are sent to the underlying venue for clearing and settlement.
  4. The Taker and Maker receive confirmation of the success or rejection of the Trade.
  5. All Paradigm users are notified of successfully settled & cleared Trades, but NOT the counterparties or sides (BUY / SELL) involved.

Key Concepts

In FSPD,

  • All Strategies have public central Limit Order Books.
  • Paradigm controls which Strategies are available to trade.
  • You do NOT select counterparties, anyone is able to engage with a Strategy’s Order Book.
  • All Orders and Trades are on an anonymous basis with no participant or directional information revealed.
  • There are partial fills as well as multiple orders can be consumed as part of a single Trade.
  • You are able to ladder multiple Orders on both the bid/ask sides of the Order Book.

Code Examples

Reach out if you ever need any help! We are more than happy to help.

You will need to update the provided Code Examples with your own Paradigm Access Key and Secret Key.

You can find all existing examples in our GitHub Repo

All examples in this section are in Python3.