True Markets' CeFi exchange (the "Exchange") enforces minimum increments for all instruments traded on the Exchange. Any order submitted with a quote price or size outside the defined bucket ranges will be rejected.
| Bucket | Lower Price ($) | Upper Price ($) | Tick Size ($) - Quote Increment | Lot Size - Base Increment | Minimum Tradable Notional |
|---|---|---|---|---|---|
| 1 | 500,000.00000 | ∞ | 1 | 0.000001 | 1.00 |
| 2 | 100,000.00000 | <= 499,999.5000000000 | 0.5 | 0.00001 | 1.00 |
| 3 | 10,000.00000 | <= 99,999.9000000000 | 0.1 | 0.0001 | 1.00 |
| 4 | 1,000.00000 | <= 9,999.9900000000 | 0.01 | 0.001 | 1.00 |
| 5 | 10.00000 | <= 999.9990000000 | 0.001 | 0.01 | 1.00 |
| 6 | 0.10000 | <= 9.9999000000 | 0.0001 | 1 | 1.00 |
| 7 | 0.00100 | <= 0.0999990000 | 0.000001 | 100 | 1.00 |
| 8 | 0.00001 | <= 0.0000999900 | 0.00000001 | 10,000 | 1.00 |
| 9 | 0.00000 | <= 0.0000099999 | 0.0000000001 | 1,000,000 | 1.00 |
- Bucket: Represents the pricing tier or category for a specific range of prices.
- Lower Price ($): The minimum price for the bucket, expressed in the quoting asset of the instrument pair.
- Upper Price ($): The maximum price for the bucket, expressed in the quoting asset of the instrument pair. In some cases, it may indicate no upper bound (e.g., ∞).
- Tick Size ($) - Quote Increment: The smallest allowable change in the quoted price within the bucket.
- Lot Size - Base Increment: The minimum quantity change for the base asset that can be transacted in the bucket.
- Minimum Tradable Notional: The minimum notional of an instrument that can be traded, set by the exchange.
When a client supplies a quote amount instead of a base quantity, the exchange converts that request into the largest executable base quantity that fits within the requested notional while still respecting the base increment at the final price level consumed from the book.
This means a quote-sized preview or notional order can legitimately execute slightly less than the requested quote amount. The remaining amount is not used to improve the fill by weakening the executable limit price. Instead, it is left unfilled because it is smaller than the minimum tradable base increment at that price level.
In schema v2026_01_23, the /api/v1/markets/quote response also reports:
notional: the expected quote amount that would execute from visible book liquidity.notional_residual: the portion of the requested quote amount left over after increment rounding.