Exit Trades

Overview

The exit trades feature creates a new trade that counters a previous trade currently in state: "settling". This addresses buyer's remorse — for example, a customer who bought Bitcoin and wants to reverse the transaction.

The exit trade settles at the same time as the original trade. Price fluctuations between the original and exit quotes may result in gains or losses.

Requirements:

The original trade must be state: "settling".
The original trade must not be included in a settlement batch.

Steps:

Create an exit trade quote.
Create an exit trade.

Create an exit trade quote

For a trade in state: "settling" that has not been batched, create a quote via POST /api/quotes:

{
  "product_type": "trading_exit",
  "customer_guid": "<insert customer_guid>",
  "reference_trade_guid": "<insert reference_trade_guid>"
}

{
  "created_at": "<created_at timestamp>",
  "updated_at": "<updated_at timestamp>",
  "guid": "<created quote_guid>",
  "product_type": "trading_exit",
  "customer_guid": "<inserted customer_guid>",
  "symbol": "<associated symbol>",
  "side": "<associated side>",
  "receive_amount": 0,
  "deliver_amount": 0,
  "fee": 0,
  "issued_at": "<issued_at timestamp>",
  "expires_at": "<expires_at timestamp>"
}

Create the exit trade

Use the quote GUID from above in POST /api/trades:

{
  "trade_type": "exit",
  "quote_guid": "<insert quote_guid>"
}

{
  "created_at": "<created_at timestamp>",
  "updated_at": "<updated_at timestamp>",
  "guid": "<created trade_guid>",
  "trade_type": "exit",
  "customer_guid": "<associated customer_guid>",
  "quote_guid": "<inserted quote_guid>",
  "symbol": "<associated symbol>",
  "side": "<associated side>",
  "state": "storing",
  "failure_code": null,
  "receive_amount": 0,
  "deliver_amount": 0,
  "fee": 0,
  "reference_trade_guid": "<inserted reference_trade_guid>",
  "labels": null
}

The trade progresses from state: "storing" to state: "settling", then to state: "completed".

Poll GET /api/trades/{trade_guid} to confirm completion.

⚠️
Batched trades cannot be exited
If the original trade has already been included in a settlement batch, the exit trade progresses to state: "failed" with failure_code: "invalid_reference_trade".