How to set up hidden orders on Kraken?

Hidden orders on Kraken allow traders to execute large trades discreetly by showing only a portion of the order, preventing market impact.

Apr 24, 2025 at 12:01 pm

Setting up hidden orders on Kraken can be a valuable strategy for traders looking to execute large trades without impacting the market. Hidden orders, also known as iceberg orders, allow you to place an order where only a portion of the total order quantity is visible to the market, while the rest remains hidden. This article will guide you through the process of setting up hidden orders on Kraken, ensuring you understand each step thoroughly.

Understanding Hidden Orders on Kraken

Before diving into the setup process, it's essential to understand what hidden orders are and why they might be beneficial. Hidden orders allow you to place a large order without revealing the entire size to the market. This can prevent other traders from reacting to your order, which could cause the price to move against you. On Kraken, hidden orders are particularly useful for traders dealing with large volumes of cryptocurrencies.

Accessing the Trading Interface

To begin setting up a hidden order, you need to access Kraken's trading interface. Here's how you can do it:

• Log in to your Kraken account.
• Navigate to the trading section by clicking on the "Trade" tab at the top of the page.
• Select the cryptocurrency pair you wish to trade.

Once you are in the trading interface, you will see various options for placing orders. Look for the section labeled "New Order" to proceed with setting up your hidden order.

Setting Up a Hidden Order

To set up a hidden order on Kraken, follow these detailed steps:

• In the "New Order" section, choose the type of order you want to place. For hidden orders, you will typically use a limit order.
• Enter the total quantity of the cryptocurrency you want to buy or sell. This is the total order size.
• Specify the visible quantity. This is the portion of your order that will be visible to the market. The remaining quantity will be hidden.
• Set the price at which you want the order to be executed.
• Under the "Advanced" options, you will find a checkbox labeled "Hidden Order." Check this box to enable the hidden order feature.
• Review all the details of your order, including the total quantity, visible quantity, and price.
• Click on the "Submit Order" button to place your hidden order.

Verifying Your Hidden Order

After submitting your hidden order, it's crucial to verify that it has been placed correctly. Here's how you can do it:

• Go to the "Orders" tab in the trading interface.
• Look for your newly placed order in the list of active orders.
• Check the details of the order to ensure that the visible quantity and total quantity match what you intended.
• Confirm that the order is marked as a hidden order.

Monitoring and Managing Your Hidden Order

Once your hidden order is placed, you need to monitor it to ensure it executes as planned. Here are some tips for managing your hidden order:

• Keep an eye on the market conditions and the order book to see how your hidden order is interacting with the market.
• If necessary, you can modify your hidden order by changing the visible quantity, total quantity, or price. To do this, go to the "Orders" tab, find your order, and click on the "Edit" button.
• You can also cancel your hidden order if you decide not to proceed with the trade. To cancel, go to the "Orders" tab, find your order, and click on the "Cancel" button.

Common Issues and Troubleshooting

While setting up hidden orders on Kraken is generally straightforward, you might encounter some common issues. Here's how to troubleshoot them:

• Order Not Executing: If your hidden order is not executing, check the price you set. Ensure it is within the current market range. Also, verify that the visible quantity is large enough to attract trades.
• Order Partially Filled: If your order is only partially filled, it might be because the visible quantity has been exhausted. You can modify the order to increase the visible quantity if needed.
• Technical Issues: If you encounter any technical issues, such as the order not appearing in the "Orders" tab, try refreshing the page or logging out and back in. If the problem persists, contact Kraken's customer support for assistance.

Frequently Asked Questions

Q: Can I place hidden orders on all cryptocurrency pairs on Kraken?

A: Hidden orders are available on most cryptocurrency pairs on Kraken. However, it's always a good idea to check the specific trading pair you are interested in, as some less liquid pairs might not support hidden orders.

Q: Is there a minimum or maximum size for hidden orders on Kraken?

A: Kraken does not publicly disclose specific minimum or maximum sizes for hidden orders. However, the size of your order should be within the limits set by Kraken for the particular cryptocurrency pair you are trading.

Q: How does Kraken handle the visibility of hidden orders to other traders?

A: Kraken ensures that only the visible portion of your hidden order is displayed in the order book. The rest of the order remains hidden, and other traders will only see the visible quantity until it is fully executed or modified.

Q: Can I use hidden orders for both buy and sell orders on Kraken?

A: Yes, you can use hidden orders for both buy and sell orders on Kraken. The process for setting up a hidden buy order is the same as for a hidden sell order, with the only difference being the direction of the trade.