Market Makers

Quick reference for market makers integrating with Synthetix perpetual futures.

Overview

Synthetix provides a trading API with EIP-712 authentication, and WebSocket support for low-latency trading.

Rate Limits

API rate limits apply to ensure fair usage and system stability.

See Rate Limits for more information.

Order Types

• Rejected if would match immediately
• Guarantees maker fee rate
• Essential for market making

• Set reduceOnly: true to only close positions
• Prevents increasing exposure

See Place Orders for complete order type documentation.

WebSocket API

• subAccountUpdates - Consolidated stream for orders, trades, positions, and funding
• orderbook - Real-time orderbook depth updates
• marketPrices - Mark, index, and last price updates

• Place and cancel orders directly via WebSocket for lower latency
• All trading operations require EIP-712 signatures

See WebSocket API and Subscriptions for complete documentation.

Authentication

• EIP-712 signatures required for all trading operations
• No API keys needed
• Supports subaccount delegation
• Domain: "Synthetix", Version: "1", ChainId: 1

See Authentication for implementation details.

Quick Start

1. Review fee structure and tier requirements
2. Set up WebSocket connections for low latency
3. Use limitAlo order type for post-only (maker) orders
4. Subscribe to subAccountUpdates for consolidated trading updates
5. Implement proper reconnection and heartbeat handling

API Reference

• Fees - Complete fee tier structure
• Rate Limits - Detailed rate limit documentation
• Place Orders - Order placement endpoint
• WebSocket API - Real-time trading and market data
• Authentication - EIP-712 signing guide