# 網格交易

> 網格交易係一種類造市策略：將一個價格區間切成若干層，喺下方掛買單、上方掛賣單，價格每喺兩層之間來回一次就食一段差價。佢喺上落市裡面賺取細額而頻繁嘅利潤。而喺單邊趨勢裡面，佢會停止完成配對，轉而累積成一個方向性倉位——此時出問題嘅唔係策略，而係市場狀態變咗。

Canonical HTML page: https://qanterion.com/zh-HK/glossary/grid-trading
更新於: 2026-08-18
又稱: 網格機械人, 網格策略

## 計算方式

```
Divide a price range into levels; buy each level down, sell each level up.

Spacing %   = (Upper − Lower) ÷ (Levels − 1) ÷ Lower × 100
Net / grid  = Spacing % − Fee % × 2

Earns spread in a range. Accumulates inventory in a trend.
```

## 實算例子

58,000–72,000 區間佈 40 格 → 間距 0.62%；單邊費率 0.02% 時，每格淨賺 0.58%。

## 手續費決定咗間距嘅下限

每完成一次買賣配對都要付兩次手續費，所以層與層之間嘅毛差價必須超過兩倍費率，網格先開始賺錢。加格會令人覺得好有產出，因為成交筆數的確多咗；但佢喺壓縮間距嘅同時費率絲毫未動——超過某個密度之後，策略會不停交易但一蚊都賺唔到。

## 網格唔係馬丁格爾

兩者都會喺價格下跌時繼續加倉，所以經常被混為一談。但網格係喺事先固定嘅價位上，買入事先計劃好嘅、等量嘅份額；馬丁格爾就係每蝕一次就加大注碼，試圖用一次反彈將之前嘅虧損全部收返。前者嘅敞口有明確上限而且可以事先計出，後者嘅敞口就係無限增長嘅。

## 常見誤讀

網格機械人經常攞「完成交易筆數」同「勝率」嚟做宣傳，而呢兩個指標由構造上就注定接近完美——每一次完成嘅配對都係賺錢嘅。真正決定最終結果嘅係價格離開區間時手上剩低嘅浮虧庫存，而佢喺呢兩個統計量裡面根本唔會出現。

## 親手計一計

- 網格交易利潤計算機: https://qanterion.com/zh-HK/tools/grid-trading-profit-calculator
- 資金費率計算機: https://qanterion.com/zh-HK/tools/funding-rate-calculator

## 相關詞條

- 掛單與食單費率: https://qanterion.com/zh-HK/glossary/maker-taker-fees
- 資金費率: https://qanterion.com/zh-HK/glossary/funding-rate
- 倉位管理: https://qanterion.com/zh-HK/glossary/position-sizing

## 參考資料

- [High-frequency trading in a limit order book](https://math.nyu.edu/inmemoriam/avellaneda/HighFrequencyTrading.pdf) — Marco Avellaneda and Sasha Stoikov, NYU Courant Institute of Mathematical Sciences
- [Dealing with the Inventory Risk. A solution to the market making problem](https://arxiv.org/abs/1105.3115) — Olivier Guéant, Charles-Albert Lehalle, Joaquin Fernandez-Tapia (arXiv, Cornell University)
- [Introduction to Spot Grid Bot on Bybit](https://www.bybit.com/en/help-center/article/Introduction-to-Spot-Grid-Bot) — Bybit Help Center

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## Risk notice

本術語表用於教學。此處內容不構成投資建議，頁面所述任何指標都無法預測未來結果。