Toobit launches BBO feature to boost futures trading speed and accuracy
Toobit unlocks faster order fills
Toobit, the global cryptocurrency exchange, has launched a powerful new feature for Futures traders — the Best Bid Offer (BBO). This smart order type combines the speed of market orders with the price precision of limit orders, giving traders greater flexibility and accuracy in highly volatile market conditions.
Traditional limit orders require manual price entry, which, in fast-moving markets, can lead to delays, missed opportunities, and slippage.
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In 2023, Bitcoin’s annualized volatility exceeded 80%, with average daily price swings reaching 4%. Even a minor 0.5% slippage on a $10,000 trade could cost a trader $50. The BBO feature helps reduce such risks by automating price selection based on real-time market data.
How BBO works: smart logic and flexible order placement
Toobit's BBO enables users to place limit orders that automatically follow the most competitive bid and ask prices in the order book. Instead of manually entering a price, traders select from predefined levels:
Counterparty 1 — Matches the top of the opposing side of the order book.
Queue 1 — Matches the top of the same side of the order book.
Counterparty 5 / Queue 5 — References the fifth-best bid/ask price, allowing for added control and strategic positioning.
“With BBO, traders no longer have to choose between speed and control,” said Mike Williams, Chief Communication Officer at Toobit. “It allows users to respond quickly without sacrificing price precision.”
Availability and strategic impact for traders
To place a BBO order, traders simply select the desired reference level and click "Open Long" or "Open Short." The system instantly tracks and updates the order price, increasing the chance of immediate execution.
The BBO feature is now available for all limit orders on Toobit’s Futures platform. By combining automation with precision, Toobit continues to provide institutional and retail traders with advanced tools designed to meet the pace of today’s fast-moving crypto markets.
