As part of the Serum architecture, if you place a trade and it is filled as a maker order, you will need to ‘settle’ funds. This is a part of the architecture of the serum orderbook.
There are three scenarios in which you become a maker order:
- 1.If you clicked post only before submitted a trade, your order would have entered as a maker order
- 2.If you set a limit order far from the current price (where there are little/no other orders), and in the future, the price moves up to to fill your order
- 3.If you submit a limit order that is larger than the number of available contracts at a certain price on the book, you are filled for part of that order as a taker, and the second part as a maker
Market orders are never maker orders because you are always filled based on what is already on the book. Therefore, you will never have to settle a trade if you place a market order.
In the even that you are a ‘maker’, here is how you settle funds:
There are multiple locations in cypher Pro where you have the ability to settle funds. However, the process is the same in each location.
For this examples, we can view our unsettled funds at the bottom of the trading terminal page.
Select the 'Unsettled' tab to the right of the positions tab.
Click 'Settle' and approve the transaction in your wallet. The settled funds will now be credited to your trading account.