Order Book
Bitcoin miners and financial institutions can use the Luxor Derivatives Order Book to monitor forward market hashprice and place orders to buy or sell hashrate for a specific period of time in the future.
The Order Book shows current bids and offers for Luxor’s standardized hashrate forward contracts for both standard future-payment and upfront-payment structures. Standard pricing is available for both deliverable and non-deliverable forwards, while upfront pricing is available only for Luxor deliverable forwards.
Users can view contracts by UTC month or by day duration. Monthly contracts represent the value of one petahash of Bitcoin hashrate (USD or BTC per PH/s/Day) delivered over a specific UTC month. The current month’s contract begins on the next UTC day and expires at the end of the month.
The day duration view instead shows bids and offers for standardized 30-, 60-, 90-, 120-, 150-, and 180-day contracts. All duration contracts begin on the next UTC day and expire at the end of their respective contract durations. Users can switch between the monthly and duration-based Order Books using the filter at the top of the Order Book.
Luxor also offers fully bespoke contract durations from one day to eighteen months. Please reach out to the Luxor team for more information.
In green and on the left of each contract are the bids. The bids are orders to buy a certain quantity of hashrate (PH/s) at specific hashprices.
In red and on the right of each contract are the offers. The offers are orders to sell a certain quantity of hashrate (PH/s) at specific hashprices.
Users can view both USD- and BTC-denominated contracts by selecting their preference from the currency dropdown at the top of the Order Book.
Creating New Hashrate Orders
This functionality is only available to customers that have completed onboarding with the Luxor Derivatives team.
Users can enter new orders by selecting the "+ Order" button in the bottom right corner of the Order Book. This button takes you to a form for submitting new bids and offers.
Users can also batch upload multiple bids and offers via csv, across all contract types.
New orders are considered as "Good-til-Cancel" by default. If it is disabled, orders will be canceled at the end of the UTC day.
Lastly, users have the ability to cancel one, or all, of their open orders at any time, using the Orders table below the Order Book.
Matching and Executing Orders
When orders are matched – meaning buyers and sellers agree to a price and quantity – the Luxor Derivatives team is notified and will contact the appropriate counterparties to confirm the trades.
We do not match trades on the platform. The order book is a representation of the price level at which parties are willing to buy and sell Hashrate Forwards.
Luxor is the counterparty to both the buyer and seller of the trades.
Trade Notifications
When trades are confirmed and executed, we will notify interested parties on our Telegram group channel. This is a one-way channel where the team provides market statistics, useful information and updates, and trade execution details.
Disclosure
The Luxor Derivatives Order Book is not an execution system or platform. The Luxor Derivatives Order Book is only used to show the state of current bids and offers. In accordance with Section 5h(a)(1) of the CEA, market participants do not have the ability to transact with multiple market participants on this or any other Luxor platform. All communications are recorded and maintained in accordance with CFTC rules 1.31 and 1.35.