Got "Order would immediately trigger." for TRAILING_STOP_MARKET SHORT order (Futures API) in Hedge mode when the activate price is lower than the mark price

API Futures API
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1

I got “Order would immediately trigger.” for the TRAILING_STOP_MARKET order when the activate price is lower than the latest. This is expected in the one-way mode. However, my Futures account is set in the hedging mode. Below is my Python code.

mark_price = float(um_futures_client.mark_price(symbol=SYMBOL)['markPrice'])
short_take_price = round(mark_price * 0.9, 2)
order = {     
    'symbol': 'ETHUSDT',
    'side': 'SELL',
    'positionSide': 'SHORT',
    'type': 'TRAILING_STOP_MARKET',
    'quantity': 0.001,
    'activationPrice': short_take_price,
    'callbackRate': 0.5,
    # 'priceProtect': True,
}
print(um_futures_client.new_order(**order))

The document mentions:

  • For TRAILING_STOP_MARKET, if you got such error code.
    {"code": -2021, "msg": "Order would immediately trigger."}
    means that the parameters you send do not meet the following requirements:
    • BUY: activationPrice should be smaller than latest price.
    • SELL: activationPrice should be larger than latest price.

I think this is not true for the hedging mode.

I tried to increase the activate price to the value higher than the latest price.

mark_price = float(um_futures_client.mark_price(symbol=SYMBOL)['markPrice'])
short_take_price = round(mark_price * 1.1, 2)
order = {     
    'symbol': 'ETHUSDT',
    'side': 'SELL',
    'positionSide': 'SHORT',
    'type': 'TRAILING_STOP_MARKET',
    'quantity': 0.001,
    'activationPrice': short_take_price,
    'callbackRate': 0.5,
    # 'priceProtect': True,
}
print(um_futures_client.new_order(**order))

The API call was successful:

{
    'symbol': 'ETHUSDT',
    'status': 'NEW',
    'price': '0',
    'avgPrice': '0.00000',
    'origQty': '0.001',
    'executedQty': '0',
    'cumQty': '0',
    'activatePrice': '1947.97',
    'priceRate': '0.5',
    'cumQuote': '0',
    'timeInForce': 'GTC',
    'type': 'TRAILING_STOP_MARKET',
    'reduceOnly': False,
    'closePosition': False,
    'side': 'SELL',
    'positionSide': 'SHORT',
    'stopPrice': '0',
    'workingType': 'CONTRACT_PRICE',
    'priceProtect': False,
    'origType': 'TRAILING_STOP_MARKET',
    'updateTime': 1680030668505
}

However, the new order shown in my app was “Open Short” instead of “Close Short”.

2

I figured out the solution.

For opening orders, the available pairs of sides are:

  • BUY-LONG
  • SELL-SHORT

For closing orders, the available pairs of sides are:

  • BUY-SHORT
  • SELL-LONG

This design is confusing when developers view the UI of the APP.

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