Pegged Orders

A PEG order tracks the sequencer's Pyth mark with a signed basis-point offset.

Offset

peg_offset_bps is signed: 0 tracks the Pyth mark, positive values price above it, and negative values below it. There is no peg_reference field and no bid/ask/mid selector.

How It Works

When the Pyth mark changes, the sequencer reprices the working limit from mark plus offset.

A peg order does not accept a price field. The effective price is derived from the reference at match time.

Pegged orders accept only GTC or GTD. They cannot be post-only.

Example

{
  "symbol": "BTC-USDC-PERP",
  "side": "BUY",
  "order_type": "PEG",
  "peg_offset_bps": -5,
  "quantity": "0.1",
  "time_in_force": "GTC"
}

Modifying Pegged Orders

Use new_quantity to resize. The working price is engine-derived; to change peg_offset_bps, cancel and place a new order.

See Order Compatibility for supported TIF and attribute combinations.