1. Basic Concepts
Q1.1 What is spot grid trading?
A: HashKey Exchange now accepts standing authority from clients in respect of "grid trading". Once the client creates a spot grid plan, HashKey, by placing and matching orders on the spot market, executes the spot grid plan on behalf of the client in accordance with the client's pre-defined instructions.
A spot grid plan is set up by the client. For a specified spot trading pair, the client defines a price range and divides that range either evenly (arithmetic) or proportionally (geometric) into a number of price levels (the "grid prices"), and pre-instructs HashKey that —
- When the current price falls through any grid price, HashKey shall submit a limit buy order on behalf of the client in accordance with the client's spot grid plan.
- When the current price rises above any grid price, HashKey shall submit a corresponding limit sell order on behalf of the client in accordance with the client's spot grid plan.
The direction, price, size and trigger conditions of every order, as well as amendment and revocation of the spot grid plan, are pre-defined and decided by the client. HashKey acts only within the scope of the client's standing authority, makes no representation as to the outcome of any spot grid plan, and does not provide investment advice or discretionary management.
Q1.2 How is grid trading different from "buy and hold"?
A:
- Buy and hold: bets on long-term appreciation; you earn from directional trends
- Grid trading: does not bet on direction; you earn from oscillation within the range
The two are complementary, not substitutes, and suit different market views. Clients should assess their own financial position and risk tolerance and seek independent professional advice where necessary.
Q1.3 Will spot grid always be profitable?
A: No. HashKey only places orders on behalf of the client within the scope of the standing authority; it makes no representation, guarantee or prediction as to the outcome of any spot grid plan. You may incur unrealized or realized losses if:
- Price falls below the lower bound of your range
- Your spot grid plan is terminated at an unfavourable price
- Liquidity is insufficient and orders remain unfilled for a long time
Please make sure you fully understand the product and your own risk tolerance before creating a spot grid plan.
2. Onboarding & First Use
Q2.1 How can I create my spot grid plan?
A:
- Log in to
exchange.hashkey.com - Click Spot in the top navigation to enter the spot trading page
- Choose a supported pair (for example BTC/USDT)
- Find Create Spot Grid Plan in the right-hand panel
The mobile-app entry path mirrors the web. Please update to the latest version.
Q2.2 What should I do before creating my first spot grid plan?
A: Before you create your first spot grid plan, you need to:
- Complete HashKey Exchange account registration and KYC
- Hold the relevant quote currency in your account (USDT or HKD)
- Read and accept the Spot Grid Trading User Terms
- Complete the three-step onboarding tour
Q2.3 Are mobile and web both supported?
A: Both web and the iOS / Android mobile app are supported. Please update to the latest version.
Q2.4 Can I create a spot grid plan via API?
A: Currently, Spot Grid Plans cannot be created via API. Only web and mobile are supported. Any future API rollout will be announced separately.
3. Supported Pairs & Quote Currencies
Q3.1 Which trading pairs are supported?
A: Initial launch: 7 spot pairs.
Quote currency | Pairs |
|---|---|
USDT | BTC/USDT · ETH/USDT · SOL/USDT · AVAX/USDT · LINK/USDT |
HKD | BTC/HKD · ETH/HKD |
More pairs will be added in batches based on market demand and risk assessment.
Q3.2 Will more pairs be added? When?
A: HashKey continuously evaluates market demand and risk. New pairs will be announced through official channels and in-app notices. HashKey does not commit to any roadmap or timeline.
Q3.3 How is HKD-quoted grid different from USDT-quoted grid?
A: Different quote currency: HKD-quoted grids use HKD as principal, removing the HKD ↔ USDT conversion step.
4. Parameter Settings
Q4.1 How do I set the price range?
A: The price range defines the upper and lower bounds within which you expect the market to oscillate. Common approaches:
- Based on historical volatility: take recent highs/lows and add a buffer
- Based on support / resistance: use technical-analysis key levels
Q4.2 Are more grids always better?
A: No.
More grids Smaller distance per grid → higher fill frequency, but thinner profit per fill
Fewer grids Larger distance per grid → thicker profit per fill, but fewer fill opportunities
Strike a balance between range volatility and how much capital lock-up you can tolerate. The reasonable range that HashKey provides is dynamically adjusted per pair and is for your reference only.
Q4.3 Arithmetic vs. geometric grid: what's the difference?
A:
- Arithmetic grid: each grid has a fixed price difference (e.g. +1,000 USDT per grid)
- Geometric grid: each grid has a fixed percentage difference (e.g. +2% per grid)
Aspect | Arithmetic | Geometric |
|---|---|---|
Applicable scenario | Narrow range, smaller swings | Wide range, higher prices |
Spacing at high prices | Same as low prices | Wider in proportion |
Compounding friendliness | Average | Higher |
Q4.4 How do I decide the investment amount?
A: The investment amount is the total principal you commit to this spot grid plan. HashKey allocates orders based on the range and grid count you specify and shows the minimum required. You should ensure your account has sufficient available funds; otherwise some orders may not be submitted.
Q4.5 What does "Sell all BTC on stop" mean?
A: This determines how your remaining assets are settled when you terminate a spot grid plan. You make this choice when creating the plan:
- Ticked: Upon termination, HashKey will execute a market sell order for any remaining base asset (e.g., BTC) accumulated in the plan based on this instruction, and return the funds to your account in the quote currency (e.g., USDT).
- Unticked: Upon termination, the remaining base asset will simply stay in your spot account. You can then decide what to do with it yourself.
5. Funds & Principal
Q5.1 Will my principal be locked?
A: Yes, in part. While a spot grid plan is active, the principal required for the open limit orders placed by the plan is reserved and cannot be used for other purposes. This portion of your funds is effectively "locked" until those specific orders are either filled or cancelled, or until you terminate the entire plan.
Q5.2 Can I withdraw my principal while the spot grid plan is running?
A: You cannot directly withdraw the funds that are reserved for active open orders. To access your full principal, you must first terminate the spot grid plan. Upon termination, HashKey will automatically cancel all unfilled orders, and the full unutilized principal will be returned to your spot account.
6. Reviewing & Revoking Grid Standing Instructions
Q6.1 How many spot grid plans can I run at the same time?
A: You can have up to 20 active spot grid plans running concurrently in a single account, though this limit is subject to change by HashKey. Please note that creating duplicate plans with identical parameters for the same trading pair is not permitted.
Q6.2 Can I modify the parameters of a running spot grid plan?
A: Modifying an active plan is not currently supported. To adjust your strategy, you will need to terminate the existing plan and create a new one with your desired parameters.
Q6.3 Where can I track my spot grid plans and their performance?
After logging in, navigate to the spot grid section under the Orders page. There you will find:
- A list of your active spot grid plans
- Key metrics for each plan, including the number of filled pairs, realized P&L, and unrealized P&L
- A complete history of your terminated plans
Q6.4 How do I terminate a spot grid plan?Can I set a take-profit or stop-loss for my plan?
A: Go to the specific plan's detail page and click the Stop button. After you confirm, the plan will be terminated. Upon termination:
- All unfilled open orders will be automatically cancelled
- The remaining principal will be returned to your spot account
- Any open positions will be settled based on your "Sell all on stop" selection made during setup
Q6.5 Can I set a take-profit or stop-loss for my plan?
A: Yes. You can set take-profit (TP) and/or stop-loss (SL) prices when you create the plan. If the market price reaches your specified trigger price, HashKey will automatically terminate the plan in accordance with your instruction.
7. Fees & Costs
Q7.1 Are there fees for trades executed by a spot grid plan?
A: Yes. Every buy or sell order that is successfully filled under your spot grid plan is charged at the standard spot trading fee rate for our platform. For specific rates, please refer to our official Fee Schedule.
Q7.2 Is grid trading more expensive than manual trading?
A: The fee rate is exactly the same. However, since a spot grid plan is designed to trade frequently, the total number of filled orders is typically higher than with manual trading. Consequently, the cumulative fees for a spot grid plan may be greater than the fee for a single manual trade using the same amount of capital. HashKey does not currently charge any additional subscription or minimum fees for using this feature.
Q7.3 Are the orders considered "maker" or "taker" trades?
A: The orders placed by your spot grid plan are limit orders. In most cases, these orders will execute as maker trades, thus qualifying for the maker fee rate. However, the final classification depends on the market conditions at the time of matching.
Q7.4 Are there any other hidden costs I should be aware of?
A: Besides the standard trading fees, there are other potential costs to consider:
- Slippage: If you have the "Sell all on stop" option enabled, the final market sell order executed upon termination may experience slippage.
- Opportunity Cost: The principal allocated to your active open orders is "locked" and cannot be used for other investment opportunities.
8. P&L & Losses
Q8.1 How is the Profit and Loss (P&L) of a spot grid plan calculated?
A: The P&L for a spot grid plan consists of two parts:
- Realized P&L: This is the cumulative profit from all completed buy-and-sell pairs. It is calculated as: Σ (Sell Price − Buy Price) × Matched Quantity − Trading Fees for each pair.
- Unrealized PnL = open-position floating PnL at current mark price − estimated fees
You can view the total P&L for each plan on its detail page.
Q8.2 Why might my plan show a profit, but my total account balance hasn't increased?
A: This is a common scenario and can be caused by several factors:
- Unrealized Losses: The most common reason is that your open positions are currently at a loss (drawdown). This floating loss can be larger than your realized gains from completed trades.
- Quote Currency Fluctuation: If your plan is quoted in a non-USD currency (e.g., HKD), changes in the exchange rate (like USD/HKD) will affect the overall USD valuation of your account.
- Net vs. Gross P&L: Ensure you are looking at the Net P&L, which accounts for all trading fees. Some displayed figures might show gross profit before fees.
Q8.3 What happens if the market price drops below my plan's lower price bound?
A: If the price falls below your set range:
- The plan will stop placing new buy orders, as there are no more grid levels to trigger.
- Your existing open positions will show an unrealized loss, which will increase if the price continues to fall.
- You must then decide whether to wait for the price to recover back into your range, terminate the plan manually to cut losses, or simply hold the base asset.
Q8.4 What happens if the market price rises above my plan's upper price bound?
A: If the price breaks above your set range:
- The plan will stop placing new sell orders, as all grid levels have been executed.
- You will be left holding only the quote currency (e.g., USDT), having sold all the base asset.
- The plan will then enter a "waiting" state, ready to resume trading if the price drops back into your range, or it may be terminated, depending on the instructions you provided during setup.
9. Anomalies & Risk Controls
Q9.1 How will network or app outages affect my active spot grid plans?
A: Once your spot grid plan is successfully created, it runs entirely on HashKey's servers. The plan's operation, including order placement and execution, is not dependent on your personal device being online or your own network connection. Even if you lose internet access or close the app, HashKey will continue to manage your plan according to your pre-set instructions.
Q9.2 Does HashKey intervene in running plans during extreme market conditions?
A: Yes, under certain exceptional circumstances, HashKey reserves the right to intervene by pausing or terminating spot grid plans to protect market integrity and user interests. These circumstances include, but are not limited to::
- Abnormal market volatility or the activation of market-wide circuit breakers.
- Severe lack of liquidity, matching engine anomalies, or other technical failures.
- Mandatory requirements from regulatory authorities or applicable laws.
Any such intervention and its scope will be communicated to users via public announcements as promptly as possible.
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