Trades Channel

Channel: trades
Authentication: Not required

{
  "method": "subscribe",
  "params": {
    "channel": "trades",
    "market_ids": [1, 2]
  }
}

Parameter	Type	Required	Description
`market_ids`	number[]	No	Filter by market IDs. Empty = all markets

Message Format

Update

Sent immediately when a trade occurs. There is no snapshot for this channel.

{
  "channel": "trades",
  "type": "update",
  "market_id": "18",
  "data": {
    "id": "0x000000000000d1b3000000000126ed7e000000000000043a-0x000000000000dbbc000000000126ed80000000000000009e",
    "maker_order_id": "0x000000000000d1b3000000000126ed7e000000000000043a",
    "taker_order_id": "0x000000000000dbbc000000000126ed80000000000000009e",
    "maker": "0x02fa9805dc68b93b2d30ce2c47ca629373523d8e",
    "taker": "0xd29d002b1126077670d716772fc49f3fd44ceecb",
    "maker_side": 1,
    "price": "65.6998",
    "size": "0.2",
    "fee_maker": "0.001313996",
    "fee_taker": "0.001313996",
    "fee_liquidation": "0"
  },
  "tx_hash": "0x71d88c4fab0bbd8eaae8c3ca6c50a87a4a5a53dcf0cc3b2cae8f976728a23133",
  "block_number": 19328384,
  "log_index": 156,
  "worker_timestamp": "1786934140123456789"
}

Update Message Fields

Field	Type	Description
`channel`	string	Always `"trades"`
`type`	string	Always `"update"`
`market_id`	string	Market ID
`data`	object	Trade object (see below)
`tx_hash`	string	Transaction hash
`block_number`	number	Blockchain block number
`log_index`	number	Log index within the block
`worker_timestamp`	string	Server time in nanoseconds

There is no timestamp or block_timestamp field on this channel. Trade time comes from the block: resolve block_number through the REST API if you need it.

Trade Object Fields

Field	Type	Description
`id`	string	Unique trade ID — `"<maker_order_id>-<taker_order_id>"`, both 24-byte hex, joined by `-`
`maker_order_id`	string	Maker's composite order ID, hex (`0x…`)
`taker_order_id`	string	Taker's composite order ID, hex (`0x…`)
`maker`	string	Maker's address (lowercase)
`taker`	string	Taker's address (lowercase)
`maker_side`	number	Maker's side: `0` = Buy, `1` = Sell
`price`	string	Trade price, decimal
`size`	string	Trade size, decimal
`fee_maker`	string	Fee paid by the maker, decimal USDC. `"0"` when the maker's tier pays no fee
`fee_taker`	string	Fee paid by the taker, decimal USDC
`fee_liquidation`	string	Liquidation fee, decimal USDC. `"0"` on a normal trade

🚧
Order IDs are hex strings, not numbers
id, maker_order_id and taker_order_id are 24-byte composite IDs rendered as 0x… hex, and id joins the two with a hyphen. Parsing them as integers overflows; keep them as strings.

Maker Side

Value	Description
`0`	Maker was buying (long)
`1`	Maker was selling (short)

The taker's side is always opposite to the maker's side.

Examples

Subscribe to all trades

{
  "method": "subscribe",
  "params": {
    "channel": "trades"
  }
}

Subscribe to specific markets

{
  "method": "subscribe",
  "params": {
    "channel": "trades",
    "market_ids": [1, 2]
  }
}

Unsubscribe

{
  "method": "unsubscribe",
  "params": {
    "channel": "trades"
  }
}

Testing with wscat

# Connect (mainnet)
wscat -c wss://ws.rise.trade/ws

# Subscribe to all trades
{"method":"subscribe","params":{"channel":"trades"}}

# Subscribe to market 1 only (BTC/USDC)
{"method":"subscribe","params":{"channel":"trades","market_ids":[1]}}

# Unsubscribe
{"method":"unsubscribe","params":{"channel":"trades"}}

Notes

No Snapshot

The trades channel sends nothing at subscription time; it only streams trades as they happen. Use GET /v1/trade-history for history.

Price Format

All price, size and fee fields are decimal strings (human-readable), not wei.

"65.6998" = 65.6998 USDC per unit
"0.2" = 0.2 units

Real-time Delivery

Trades are broadcast as soon as the match event is processed from the chain. There is no batching or throttling.

Public Channel

This channel does not require authentication. For your own fills — with fees, PnL and position context — use the Fills Channel.