Compendium Trading Tools Documentation
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On this page
  • Managing User Accounts
  • Making A Trade
  • Managing Trade Orders
  1. Compendex Suite
  2. Solana Integrations

Openbook Spot Markets

Our on-chain markets on the Solana network are connected to the Openbook "CLOB" order books and provide an efficient way to post trades and limit orders for a growing list of markets.

PreviousOverview And NewsNextSmart Swap Aggregator

Last updated 2 years ago

The open-source Openbook program is one of the largest decentralized exchanges on Solana by market share with some of the most liquid tradable markets. Openbook allows for unprecedented speed and low transaction costs. The focus of our user interface is to make the experience similar to trading on a traditional centralized cryptocurrency exchange with a few small differences.

Managing User Accounts

After a user connects their wallet, they will then be able to view their available balances for each selected market on the "Manage Accounts" of our interface.

  • Token Account: The user's address of that token account under their main wallet. A user may also have multiple addresses for the same token under a wallet in rare conditions. You can cycle through the addresses using our drop-down menu.

  • Wallet Balance: The currently available funds in your wallet in relation to the selected market and token account.

  • Unsettled Balances: These funds are on the intermediary wallet which is responsible for interactions between a user and the decentralized exchange markets. Any changes to an order (filled, canceled, etc) will need to be reclaimed by settling these funds.

  • Settle Button: This button will transfer a user's funds from the intermediary "unsettled" account back to the main wallet address.

Making A Trade

This process is similar to a centralized exchange with a few minor differences. A user must connect their wallet in order to process trades. Any transaction will need to be approved in the connected wallet popup.

A user can populate the order form in order to create BUY and SELL limit orders for each selected market.

As an example: A buy order of 2 SOL at a price of 100 USDC will initiate and create an open limit order for 200 USDC.

Just like a centralized exchange, a POST-only trade will ensure your order will not be allowed to take. if it would cross the book, it will instead be canceled. IOC orders that would not immediately trade will instead be canceled on a transaction authorization.

You will then be prompted to authorize the transaction within your wallet after pressing the "Buy" or "Sell" button with valid parameters entered in the create order component.

Managing Trade Orders

Scrolling down the page will present a table with four different tabs to help manage your orders and view recent historical trades.

After posting your trade, the funds are no longer in a user's wallet and will now appear as open orders under the panel on the bottom left of your screen. If the order is then filled, the funds will be on the intermediary "unsettled balances" tab mentioned earlier until a user settles that balance back into their connected wallet.

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A variety of information is available for each market including: historical orders, live TradingView charts, order book data and more.
Preview of the order example given above on the create order component of our Trade tab.
View open orders, recent trade history, current balances, and SRM fee discounts.