Maker-Wide
Maker-Wide is a passive market-making strategy designed for thin, illiquid binary markets where the natural spread is wider than Maker-Tight's target.
What it does
Maker-Wide is a passive market-making strategy designed for thin, illiquid binary markets where the natural spread is wider than Maker-Tight's target. It posts resting maker quotes at a wider edge (80–200 bps from mid), a smaller clip size, and with a longer expected holding period. The stale-book detector (time since last fill > stale_book_minutes) prevents continuous requoting on markets with no real two-way flow. Volatility of mid over the last hour determines the spread width dynamically: higher vol → wider edge. This is a user-controlled liquidity-provision tool. Maker rebates (20–25% of platform fees, paid in pUSD) contribute to the return profile. No performance claims are made.
Pipeline placement
Applies to: Thin-book binary markets where 24h volume < 250,000 pUSD, spread > 2 * edge_bps, and no stale-book condition is detected
Why it matters
| If this fails | Consequence |
|---|---|
| Quoting on a stale book (no fills for > stale_book_minutes) | Resting orders sit on a market with no real two-way activity. If news arrives and moves the market, the stale quotes are adversely selected at a wide loss. |
| Edge too narrow for wide-spread illiquid markets | In a thin book, the spread can move by 100–200 bps in a single fill. A narrow edge does not cover this adverse-selection risk. |
| Inventory accumulates without rebalancing | On a thin market with one-sided flow, the bot can accumulate a large directional inventory before the inventory skew mechanism has time to work. Hard inventory cap prevents runaway accumulation. |
| feeRateBps present on signed maker order (V1 pattern) | CTFExchangeV2 rejects orders with feeRateBps. Maker fees are operator-set at match time; the signed order must not contain this field. Maker fee_bps is capped at 50 bps. |
Inputs
Polymarket inputs
| Input | Source | Required | Use |
|---|---|---|---|
| Live order book — best bid, best ask, mid-price | ws_market (CLOB WebSocket) | required | Compute current spread and mid-price; derive dynamic edge width from mid-volatility. |
| Time since last fill on the market | clob_public (fills endpoint) | required | Stale-book detector: if time since last fill > stale_book_minutes, skip requoting. |
| Hourly mid-price volatility | ws_market (trade tape, 60-min rolling) | required | Set dynamic edge: edge_bps = base_edge_bps * (1 + vol_multiplier * hourly_vol). |
| Running inventory position on each market | clob_auth (open positions) | required | Compute inventory ratio; apply hard inventory cap; skew quotes to reduce open inventory. |
Internal inputs
| Input | Source | Required | Use |
|---|---|---|---|
| KillSwitch active flag | KillSwitch | required | Cancel all open maker quotes and emit no new OrderIntents if KillSwitch is active. |
| Builder code bytes32 | internal config | required | Injected into builder field on every maker OrderIntent. Maker fee_bps <= 50. |
Authority
What this bot is permitted to do
State
Readiness
Limited live
Status
beta
Class
Alpha Strategy
Default mode
limited_live
Developer owner
Polytraders core — Strategy pod
Capital impact
Direct
Reason codes emitted
| Code | Severity | Meaning | Action |
|---|---|---|---|
| MAKER_WIDE_QUOTING | INFO | Spread is adequate, book is fresh, inventory below cap. Wide maker bid+ask OrderIntents emitted. | Emit two GTC post_only OrderIntents. |
| MAKER_WIDE_SPREAD_TOO_TIGHT | INFO | Market spread is narrower than 2 * dynamic_edge_bps hard floor. Wide quoting is not viable. | Skip; emit sampled DecisionReport. |
| MAKER_WIDE_BOOK_TOO_STALE | WARN | Time since last fill exceeds stale_book_minutes hard limit (60 min). Book is considered inactive. | Cancel open quotes; emit DecisionReport intent_emitted=false. |
| MAKER_WIDE_STALE_BOOK | WARN | Time since last fill is between 15 and 60 minutes (warning threshold). Book activity is low. | Reduce clip to 50%; continue quoting; log warning. |
| MAKER_WIDE_INVENTORY_CAP_HIT | WARN | Inventory on this market has reached hard_inventory_cap_usd. Quoting is suspended. | Skip; no new OrderIntents; emit DecisionReport. |
| MAKER_WIDE_EDGE_MARGINAL | WARN | Dynamic edge is between 30 and 60 bps (warning threshold). Quoting at reduced clip size. | Emit OrderIntents at 50% clip size; log warning. |
| MAKER_WIDE_HIGH_INVENTORY | WARN | Inventory is between the warning (200 pUSD) and hard cap (300 pUSD). Accumulation risk elevated. | Continue quoting; reduce clip to minimum; log warning. |
| STALE_MARKET_DATA | HARD_REJECT | Book snapshot older than 5s or position data unavailable. | Cancel open quotes; no new OrderIntents. |
| KILL_SWITCH_ACTIVE | HARD_REJECT | Global kill switch is active. | Cancel all open quotes; no new OrderIntents. |
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Showing 3 of 3 · demo-wired ≠ production-live
Why this matters
Strategy bots does NOT sign, route, or directly submit orders to the chain. Understanding the authority boundary prevents misuse and makes promotion-gate reviews faster and more reliable. View raw spec JSON →