What is FRR?
The FRR, or Flash Return Rate, is a dynamic rate that is a derivative of current market conditions.
See the Knowledge Base for more information.
How Rate is Interpreted
When placing an order of the type FRRDELTAFIX, FRRDELTAVAR, the rate will be interpreted as the FRR Delta - an offset value that will be used, along with the FRR, to calculate the actual rate of the placed order.
To place an FRR offer, use type FRRDELTAVAR and specify the rate as 0. This will place an FRRDELTAVAR offer with an offset of 0.
Funding - Order Types
LIMIT: Place an order at an explicit, static rate
e.g. Placing a LIMIT order with a rate of 0.01 will put an order on the book with a rate of 0.01.
FRRDELTAFIX: Place an order at an implicit, static rate, relative to the FRR
e.g. Given that the FRR was 0.03 at the time, placing a FRRDELTAFIX order with a rate of 0.01 will put an order on the book with a rate of 0.04 (FRR + rate).
The rate will not change, even if the FRR goes up or down; it becomes static once the order has been created.
The rate, when creating an order, can be positive or negative.
FRRDELTAVAR: Place an order at an implicit, dynamic rate, relative to the FRR
e.g. Given that the FRR was 0.03 at the time, placing a FRRDELTAVAR order with a rate of 0.01 will put an order on the book with a rate of 0.04 (FRR + rate).
Unlike the static rate order types, the rate of a FRRDELTAVAR order that on the book can change; Its rate is dynamic. How the rate changes correlates 1:1 with any changes to the FRR following order creation.
e.g. If the FRR increased by 0.01, then all FRRDELTAVAR that are on the book and were created prior to the rate rise, will see their own rates rise by 0.01.
Once an order with a variable rate has been matched, the rate becomes fixed for the duration of the loan agreement.
The rate, when creating an order, can be positive only.
|MTS||int||Millisecond Time Stamp of the update|
|TYPE||string||Purpose of notification ('on-req', 'oc-req', 'uca', 'fon-req', 'foc-req')|
|MESSAGE_ID||int||unique ID of the message|
|SYMBOL||string||The currency of the offer (fUSD, etc)|
|MTS_CREATED||int||Millisecond Time Stamp when the offer was created|
|MTS_UPDATED||int||Millisecond Time Stamp when the offer was created|
|AMOUNT||float||Current amount of the offer|
|AMOUNT_ORIG||float||Amount of the initial offer|
|FLAGS||int||Flags active on the offer; see https://docs.bitfinex.com/v2/docs/flag-values|
|OFFER_STATUS||string||Offer Status: ACTIVE, EXECUTED, PARTIALLY FILLED, CANCELED|
|RATE||float||Rate of the offer|
|PERIOD||int||Period of the offer|
|NOTIFY||boolean||True / false|
|HIDDEN||int||0 if false, 1 if true|
|RENEW||boolean||True / false|
|CODE||null or integer||Work in progress|
|STATUS||string||Status of the notification; it may vary over time (SUCCESS, ERROR, FAILURE, ...)|
|TEXT||string||Text of the notification|
Ratelimit: 90 req/min