Nexwest is designed for professional market makers. The book is fully onchain, but the API, rate limits, and rebate structure are built for continuous quoting.
Why make markets here
- Maker rebates at higher volume tiers; tier 4 and above pay zero maker fees.
- One book for perps and spot, with unified margin.
- Deterministic fills with one-block finality and no reorg.
- WebSocket deltas for order book and trades.
- Builder codes for routing flow from your own frontend.
Connectivity
| Use case | Endpoint | Notes |
|---|---|---|
| Market data | wss://api.nexwest.app/ws | l2Book, trades, bbo |
| Order entry | POST /exchange | Signed actions, REST |
| Bulk cancel | POST /exchange | cancelByCloid, scheduleCancel |
| Historical | POST /info | Fills, funding, candles |
For latency-sensitive strategies, deploy in the same region as the validators and use a persistent WebSocket connection. REST order entry adds a round trip per action; batch cancels where possible.
Quoting
A simple two-sided quote:
const spread = 0.0004; // 4 bps
const mid = (bestBid + bestAsk) / 2;
await nx.exchange.placeOrder({
asset: 0,
isBuy: true,
limitPx: (mid * (1 - spread)).toFixed(1),
sz: "0.01",
reduceOnly: false,
tif: "Alo",
});Post-only orders
Use Alo (add liquidity only) for quotes that should never take. The exchange cancels the order if it would cross. Re-quote after every fill or book change.
Rate limits
| Scope | Limit |
|---|---|
| Address weight | 1,200 per minute |
| Orders | 20 per second per account |
| Cancels | 100 per second per account |
| WebSocket messages | 30 per second per connection |
Batched requests count as one request but consume weight per action. See rate limits for the weight table.
Risk controls
- Use isolated margin per strategy so a bad quote cannot drain the whole account.
- Set a maximum position and a hard stop in your own process; do not rely on the UI.
- Monitor
clearinghouseStateandopenOrderson every reconnect. - Use
scheduleCancelas a dead-man's switch. If your process stops heartbeating, the exchange cancels all open orders.
Rebates and tiers
Maker rebates are paid per fill. At tier 4 and above, the maker fee is zero; at tier 6, the taker fee is 0.024%. Volume from all sub-accounts counts toward the master tier. See fees.