In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

Derivatives Trading Interface Error Messages

Last updated: May 25, 2025

The following are descriptions for error messages that may be received when trading derivatives on Kraken Pro.

MARKET_SUSPENDED

Market is suspended; trading is unavailable.

MARKET_NOT_FOUND

An inactive derivatives market was specified in the order submission request.

INVALID_PRICE

Price is smaller or equal to zero, price exceeds the max price set for the contract, or price is not a multiple of the tick size.

INVALID_QUANTITY

Quantity decimals are greater than the contract value trade precision, notional size exceeds the order max volume of 20,000,000 USD, or quantity specified is less than zero.

SMALL_ORDER_LIMIT_EXCEEDED

Notional size is lower than the small order threshold of 0.01 USD.

INSUFFICIENT_MARGIN

Incremental initial margin is greater than the usable margin.

Incremental initial margin = new initial margin with orders - initial margin with orders + effective fee - min(PNL after execution, 0)

Max maintenance margin impact = max(maintenance margin after execution - maintenance margin, 0)

Usable margin = if(max maintenance margin impact = 0, margin equity - initial margin with orders, margin equity - maintenance margin)

WOULD_CAUSE_LIQUIDATION

Order would fill at a worse price than the mark price, causing the portfolio value to fall below the maintenance margin and trigger a liquidation.

CLIENT_ORDER_ID_IN_USE

Client order ID specified currently being used in an open order.

CLIENT_ORDER_ID_TOO_LONG

Client order ID specified exceeds the max character length of 100.

MAX_POSITION_EXCEEDED

The sum of the max position size, existing orders size, and order quantity would exceed the max position size set for the contract.

PRICE_COLLAR

Taker order would fill 20% away from the mark price.

PRICE_DISLOCATION

Taker order would cause the contract price to deviate from the index in the direction specified as the price dislocation direction for that contract.

EDIT_HAS_NO_EFFECT

The requested changes would not cause any modifications to the order.

ORDER_FOR_CANCELLATION_NOT_FOUND

The order ID could not be found in the account open orders.

ORDER_FOR_EDIT_NOT_FOUND

The order ID could not be found in the account open orders.

ORDER_CANNOT_HAVE_TRIGGER_PRICE

The order is not a trigger order and the edit order request contains a stop price.

POST_WOULD_EXECUTE

The order or the market is set to post-only and the order would be filled upon placement. If the market is in post-only orders cannot cross the mark price.

IOC_WOULD_ENTER_BOOK

The immediate-or-cancel order would not execute immediately.

WOULD_MATCH_SELF

The taker order would match with a maker order belonging to the same account.

VIOLATES_REDUCE_ONLY

The account or contract is set to reduce-only, the current position size is equal to zero, the position is long and the order is a reduce-only buy, or the position is short and the order is a reduce-only sell.

REJECTED_AFTER_EXECUTION

The order would be rejected after it is executed. Unused.

MARKET_IS_POST_ONLY

The market is set to post-only mode. Unused. Refer to POST_WOULD_EXECUTE.

ORDER_LIMIT_EXCEEDED

The max number of open orders and order triggers would exceed 20,000.

FIXED_LEVERAGE_TOO_HIGH

The incremental initial margin would go below the margin schedule threshold.

CLIENT_ORDER_ID_INVALID

Client order ID is not ASCII printable.

CANNOT_EDIT_TRIGGER_PRICE_OF_TRAILING_STOP

The order request attempts to edit the trigger price of a trailing stop order.

CANNOT_EDIT_LIMIT_PRICE_OF_TRAILING_STOP

The order request attempts to edit the limit price of a trailing stop order.

TRAILING_STOP_ORDER_LIMIT_EXCEEDED

The max number of trailing stop orders would exceed 30.

TRAILING_STOP_PERCENT_DEVIATION_EXCEEDS_MAX_DECIMAL_PLACES

Trailing stop percent deviation has more than 2 decimals.

TRAILING_STOP_QUOTE_DEVIATION_NOT_MULTIPLE_OF_TICK_SIZE

Trailing stop quote deviation is not a multiple of the tick size.

TRAILING_STOP_MAX_DEVIATION_TOO_LARGE

Trailing stop max deviation is above maximum allowed trailing stop deviation set at 50%.

TRAILING_STOP_MAX_DEVIATION_TOO_SMALL

Trailing stop max deviation is below minimum allowed trailing stop deviation set at 0.1%

INSUFFICIENT_HEADROOM_AROUND_CURRENT_PRICE_TO_EDIT_TRAILING_STOP

The percentage difference between the trigger price and market price is less than the minimum allowed trailing stop deviation set at 0.1%.

NO_REFERENCE_PRICE_AVAILABLE_FOR_CALCULATING_TRAILING_STOP_TRIGGER_PRICE

The trigger signal reference price is not available.

WOULD_MATCH_MASTER

The taker order submitted from a subaccount would match with a maker order from the master account.

WOULD_MATCH_SIBLING

The taker order submitted from a subaccount would match with a maker order from another subaccount of the same master.

WOULD_MATCH_SUBACCOUNT

The taker order submitted from the master account would match with a maker order from a subaccount.

ACCOUNT_NOT_FOUND

The account ID could not be found.

DUPLICATE_MARKET

The contract was repeated while checking margin for multiple orders.

POSITION_NOT_FOUND

Position UUID not found.

TOO_MANY_POSITIONS_IN_CONTRACT

The account has too many positions in the same contract.

INVALID_LEVERAGE_SETTING

The leverage setting is invalid.

WOULD_PROCESS_AFTER_SPECIFIED_TIME

The processBefore time is less than the server time.

INSUFFICIENT_CLOSING_MARGIN

A closing order failed the margin check. See INSUFFICIENT_MARGIN.

NO_ORDERS_IN_BOOK

No orders in the opposing side of the book to match with the market order.

LIMIT_PRICE_SET_AS_ABSOLUTE_AND_RELATIVE

Limit price and a limit price offset is provided for a trigger order.

LIMIT_PRICE_OFFSET_MUST_HAVE_VALUE_AND_UNIT

Limit price offset is not specified with a value and a unit.

LIMIT_PRICE_OFFSET_VALUE_INVALID

Limit price offset is not a number or is invalid.

LIMIT_PRICE_OFFSET_UNIT_INVALID

Limit price offset unit is neither a percent nor quote currency.

LIMIT_PRICE_OFFSET_QUOTE_CURRENCY_VALUE_MUST_BE_MULTIPLE_OF_TICK_SIZE

Limit price offset value in quote currency is not a multiple of the tick size.

LIMIT_PRICE_OFFSET_PERCENT_VALUE_TOO_MANY_DECIMAL_PLACES

Limit price offset percent value has more than 2 decimal places.

LIMIT_PRICE_OFFSET_TOO_HIGH

Limit price offset is above the limit price offset maximum value of 75%.

LIMIT_PRICE_OFFSET_TOO_LOW

Limit price offset is below the limit price offset minimum value of 0%.

ORDER_GROUP_NOT_SUPPORTED

Requested order group type is not supported.

ORDER_GROUP_PARENT_NOT_FOUND

The order group was not found while attempting to attach the order.

CANNOT_BE_BOTH_PARENT_AND_MEMBER_OF_ORDER_GROUP

The requested order is both the parent and member of the group.

ALREADY_AN_ORDER_GROUP_MEMBER

The requested order is already a member of the order group.

ORDER_GROUP_CANT_ATTACH

The requested order cannot be attached to the order group.

ORDER_GROUP_PARENT_NOT_OPEN

Partially filled orders cannot be attached to the order group.

ORDER_GROUP_EMPTY

The requested order group is empty.

ORDER_GROUP_TOO_MANY_ORDERS

The order group has too many orders.

ORDER_GROUP_WOULD_REDUCE_POSITION

The order group would reduce the position size.

ORDER_GROUP_CHILDREN_MUST_HAVE_OPPOSITE_DIRECTION

The child of the order group is in the same direction as the parent.

ORDER_GROUP_CHILDREN_MUST_BE_REDUCE_ONLY

The child of the order group is not reduce-only.

ORDER_GROUP_CHILDREN_WITH_LIMIT_PRICE_MUST_NOT_HAVE_NULL_SIZE

The child of the order group has no limit price specified.

MAX_DELTA_EXCEEDED

The net delta of the option portfolio after execution would exceed the max permissible net delta set at 1,000,000,000.

MARKET_RESTRICTED

The account is not allowed to trade on the contract.

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