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Fat finger warning

To prevent unintentional market orders, we have implemented a fat finger warning. 

The warning will show when the average slippage on an order is greater than or equal to 3%. Average slippage is the percentage distance between your projected fill price and best available price. 

Trading_FatFingerWarningUpdate_11092021.png

The fat finger warning is only available for the Kraken Spot (not Kraken Futures) UI on the Simple and Advanced order forms. There is no API or Kraken Terminal support currently.

If you place a market or limit order that might experience 3% or more slippage, you will see the warning in the order confirmation form. You will then have to manually confirm the order by typing “CONFIRM” in the text box to acknowledge the warning and submitting the order.

How do we calculate slippage?

Formula to calculate “expected loss”:

Sell:

(current market price - average fill price on order book) x order size

Buy: 

(average fill price - current market price on order book) x order size