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Banner: kill switch and monitoring controls for automated trading systems

Incidents & Postmortems

Kill switches and monitoring for automated trading systems

Ryan Pham · Aug 5, 2026 · 5 min read

Automated trading fails fast: a bug can place hundreds of orders before a human notices. This guide covers the monitoring and stopping mechanisms we run for every bot: heartbeats, position and loss limits, cancel-all on disconnect, a tested kill switch, and runbooks for the first five minutes.

Banner: futures stop order not triggered because it used mark price instead of last price

Crypto Trading Systems Bug Report

Stop-loss did not trigger when the chart crossed it: mark price vs last price triggers

Ryan Pham · Mar 3, 2026 · 5 min read

A protective stop on a perpetual futures position did not trigger during a sharp wick that clearly crossed the stop on the last-price chart. The order was set to trigger on mark price, which moved much less. We now choose the trigger price type explicitly per order and test both behaviours.