Rfq Get Best Quote

Method Name

`private/rfq_get_best_quote`

Performs a "dry run" on an RFQ, returning the estimated fee and whether the trade is expected to pass.

Should any exception be raised in the process of evaluating the trade, a standard RPC error will be returned
with the error details.
Required minimum session key permission level is read_only

Parameters


subaccount_id integer required Subaccount ID
legs array of objects required RFQ legs
legs[]. amount string required Amount in units of the base
legs[]. direction string required Leg direction enum `buy` `sell`
legs[]. instrument_name string required Instrument name

client string Optional client that sent RFQ
counterparties array of strings Optional list of market maker account addresses to request quotes from. If not supplied, all market makers who are approved as RFQ makers will be notified.
direction string Planned execution direction (default `buy`) enum `buy` `sell`
extra_fee string Extra fee in USDC added to the total final fee paid by user and directly sent to client / builder (must be between 0.000001 and 1000 USDC). The `referral_code` field must also be filled out. See Builder Fee page in docs for more info.
label string Optional user-defined label for the RFQ
max_total_cost string An optional max total cost for the RFQ. Only used when the RFQ sender executes as buyer. Polling endpoints and channels will ignore quotes where the total cost across all legs is above this value. Positive values mean the RFQ sender expects to pay $, negative mean the RFQ sender expects to receive $.This field is not disclosed to the market makers.
min_total_cost string An optional min total cost for the RFQ. Only used when the RFQ sender executes as seller. Polling endpoints and channels will ignore quotes where the total cost across all legs is below this value. Positive values mean the RFQ sender expects to receive $, negative mean the RFQ sender expects to pay $.This field is not disclosed to the market makers.
partial_fill_step string Optional step size for partial fills. If not supplied, the RFQ will not support partial fills.
preferred_direction string If disclosed, the direction the user is aiming to execute as. Default None. enum `buy` `sell`
referral_code string Optional referral code for the RFQ
rfq_id string RFQ ID to get best quote for. If not provided, will return estimates based on mark prices

Response


id string or integer required
result object required
result. best_quote object or null required Best quote for the RFQ (or null if RFQ is not created yet or quotes do not exist). This object should be used to sign a taker quote and call into `execute_quote` RPC.
result.best_quote. cancel_reason string required Cancel reason, if any enum `user_request` `insufficient_margin` `signed_max_fee_too_low` `mmp_trigger` `cancel_on_disconnect` `session_key_deregistered` `subaccount_withdrawn` `rfq_no_longer_open` `compliance`
result.best_quote. creation_timestamp integer required Creation timestamp in ms since Unix epoch
result.best_quote. direction string required Quote direction enum `buy` `sell`
result.best_quote. fill_pct string required Percentage of the RFQ that this quote would fill, from 0 to 1.
result.best_quote. last_update_timestamp integer required Last update timestamp in ms since Unix epoch
result.best_quote. legs_hash string required Hash of the legs of the best quote to be signed by the taker.
result.best_quote. liquidity_role string required Liquidity role enum `maker` `taker`
result.best_quote. quote_id string required Quote ID
result.best_quote. rfq_id string required RFQ ID
result.best_quote. status string required Status enum `open` `filled` `cancelled` `expired`
result.best_quote. subaccount_id integer required Subaccount ID
result.best_quote. tx_hash string or null required Blockchain transaction hash (only for executed quotes)
result.best_quote. tx_status string or null required Blockchain transaction status (only for executed quotes) enum `requested` `pending` `settled` `reverted` `ignored` `timed_out`
result.best_quote. wallet string required Wallet address of the quote sender
result.best_quote. legs array of objects required Quote legs
result.best_quote.legs[]. amount string required Amount in units of the base
result.best_quote.legs[]. direction string required Leg direction enum `buy` `sell`
result.best_quote.legs[]. instrument_name string required Instrument name
result.best_quote.legs[]. price string required Leg price

result. direction string required RFQ direction. enum `buy` `sell`
result. down_liquidation_price string or null required Liquidation price if the trade were to be filled and the market moves down.
result. estimated_fee string required An estimate for how much the user will pay in fees ($ for the whole trade).
result. estimated_realized_pnl string required An estimate for the realized PnL of the trade.
result. estimated_realized_pnl_excl_fees string required An estimate for the realized PnL of the trade. with cost basis calculated without considering fees.
result. estimated_total_cost string required An estimate for the total $ cost of the trade.
result. filled_pct string required Percentage of the RFQ that has already been filled, from 0 to 1.
result. invalid_reason string or null required Reason for the RFQ being invalid, if any. enum `Account is currently under maintenance margin requirements, trading is frozen.` `This order would cause account to fall under maintenance margin requirements.` `Insufficient buying power, only a single risk-reducing open order is allowed.` `Insufficient buying power, consider reducing order size.` `Insufficient buying power, consider reducing order size or canceling other orders.` `Consider canceling other limit orders or using IOC, FOK, or market orders. This order is risk-reducing, but if filled with other open orders, buying power might be insufficient.` `Insufficient buying power.`
result. is_valid boolean required `True` if RFQ is expected to pass margin requirements.
result. orderbook_total_cost string or null required Total cost of the RFQ if it were to be filled at current orderbook prices (same direction as the RFQ). If lower than `estimated_total_cost`, the user may want to use the orderbook instead of RFQs for this order. Will return null if any of the legs do not have orderbook data or enough liquidity for the full fill.
result. post_initial_margin string required User's hypothetical margin balance if the trade were to get executed.
result. post_liquidation_price string or null required Liquidation price if the trade were to be filled. If both upside and downside liquidation prices exist, returns the closest one to the current index price.
result. pre_initial_margin string required User's initial margin balance before the trade.
result. suggested_max_fee string required Recommended value for `max_fee` of the trade.
result. up_liquidation_price string or null required Liquidation price if the trade were to be filled and the market moves up.

Example

{request_example_shell}

{request_example_javascript}

{request_example_python}

The above command returns JSON structured like this:

{response_example_json}