Min Price Tick Size

Minimum Market Price Tick Size

The minimum market price tick size dictates the smallest increment by which an order price can increase or decrease. For instance, if a market has a minimum price tick size of 0.001, an order submitted with a price of 0.0011 would be rejected because it does not align with the allowed increments.

Note: The formulas for calculating the price tick size differ between spot and derivative markets.

Spot Market

Conversion from Human-Readable Format to Chain Format

Using the INJ/USDT market as an example, which has 18 base decimals and 6 quote decimals, the conversion to chain format is as follows:

$\text{chainFormat} = \text{value} \times 10^{(\text{quoteDecimals} - \text{baseDecimals})}$

Conversion from Chain Format to Human-Readable Format

To convert back to a human-readable format:

$\text{humanReadableFormat} = \text{value} \times 10^{(\text{baseDecimals} - \text{quoteDecimals})}$

Derivative Market

Conversion from Human-Readable Format to Chain Format

Using the INJ/USDT perpetual market with 6 quote decimals as an example, the conversion to chain format is:

$\text{chainFormat} = \text{value} \times 10^{-\text{quoteDecimals}}$

Conversion from Chain Format to Human-Readable Format

To convert back to a human-readable format:

$\text{humanReadableFormat} = \text{value} \times 10^{-\text{quoteDecimals}}$

Also, be sure to check out our typescript docs.