Self-Trading: In order to protect users from paying unnecessary fees to the exchange, self-trading is not allowed. In the event of a self-trade, the taker order will be rejected and the maker order will not be affected.
Trading Fees: Qume uses a maker-taker fee model. Each executed order incurs a trading fee.
- "Maker" orders that provide market liquidity receive a rebate
- "Taker" orders that remove market liquidity are charged a fee
- Fees are calculated as a percentage of the order value (denominated in the settlement asset)
BTCUSD Perpetual Swap
Order Matching Rules: Qume operates a centralized limit order book matching engine. Order matching abides by the “first-in-first-out” principle, or “FIFO”:
- Price and time are the only criteria for filling an order
- All orders at the same price level are filled according to time priority
API Connectivity: Qume offers low-latency REST and WebSocket APIs. Use these APIs to create custom trading systems and clients. See our Developer Resources for more information.
The private REST API allows users to:
- query open positions
- place orders
- cancel orders
- query account balances
- modify leverage and margin
The public REST API provides specific market data upon request, including:
- order book data
- trade history
- price indices
Qume also offers public Websocket streams for market data and private WebSocket streams for authenticated account data.
Performance Benchmarks: Qume's order matching engine and supporting infrastructure are optimized to provide microsecond-level execution latency. Additionally, each contract market can support up to 100,000 transactions per second.
- Mean round-trip latency (from external API request to response, excluding network delay) for placing a limit order is 2.5 milliseconds via REST and 80 microseconds via FIX
- 9% of requests (for time-sensitive operations) are returned in <10 milliseconds
For more detailed performance benchmarks, including comparisons with other exchanges, please email firstname.lastname@example.org