nautilus_bybit/

execution.rs

// -------------------------------------------------------------------------------------------------
//  Copyright (C) 2015-2026 Nautech Systems Pty Ltd. All rights reserved.
//  https://nautechsystems.io
//
//  Licensed under the GNU Lesser General Public License Version 3.0 (the "License");
//  You may not use this file except in compliance with the License.
//  You may obtain a copy of the License at https://www.gnu.org/licenses/lgpl-3.0.en.html
//
//  Unless required by applicable law or agreed to in writing, software
//  distributed under the License is distributed on an "AS IS" BASIS,
//  WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
//  See the License for the specific language governing permissions and
//  limitations under the License.
// -------------------------------------------------------------------------------------------------

//! Live execution client implementation for the Bybit adapter.

use std::{
    future::Future,
    sync::Arc,
    time::{Duration, Instant},
};

use ahash::AHashMap;
use anyhow::Context;
use async_trait::async_trait;
use futures_util::{StreamExt, pin_mut};
use nautilus_common::{
    clients::ExecutionClient,
    live::runner::get_exec_event_sender,
    messages::execution::{
        BatchCancelOrders, CancelAllOrders, CancelOrder, GenerateFillReports,
        GenerateFillReportsBuilder, GenerateOrderStatusReport, GenerateOrderStatusReports,
        GenerateOrderStatusReportsBuilder, GeneratePositionStatusReports, ModifyOrder,
        QueryAccount, QueryOrder, SubmitOrder, SubmitOrderList,
    },
};
use nautilus_core::{
    Params, UUID4, UnixNanos,
    env::get_or_env_var,
    time::{AtomicTime, get_atomic_clock_realtime},
};
use nautilus_live::{
    ExecutionClientCore, ExecutionEventEmitter, SocketControl,
    execution::failure::CommandFailure,
    task::{TaskGroup, TaskGroupGuard},
};
use nautilus_model::{
    accounts::AccountAny,
    enums::{OmsType, OrderType, TimeInForce},
    events::OrderDeniedReason,
    identifiers::{AccountId, ClientId, ClientOrderId, InstrumentId, Venue},
    instruments::{Instrument, InstrumentAny},
    orders::{Order, OrderAny},
    reports::{ExecutionMassStatus, FillReport, OrderStatusReport, PositionStatusReport},
    types::{AccountBalance, MarginBalance, Price},
};
use ustr::Ustr;

use crate::{
    common::{
        consts::BYBIT_VENUE,
        credential::credential_env_vars,
        enums::{
            BybitAccountType, BybitEnvironment, BybitOrderSide, BybitOrderType, BybitPositionIdx,
            BybitPositionMode, BybitProductType, BybitTimeInForce, BybitTpSlMode,
            resolve_trigger_type,
        },
        parse::{
            BybitTpSlParams, bybit_rejection_due_post_only, extract_raw_symbol, get_price_str,
            make_hedge_venue_position_id, nanos_to_millis, parse_bybit_tp_sl_params,
            resolve_position_idx as resolve_bybit_position_idx, spot_leverage, spot_market_unit,
            trigger_direction,
        },
        rate_limit::batch_send_limit,
        symbol::BybitSymbol,
    },
    config::BybitExecutionClientConfig,
    http::{
        client::BybitHttpClient,
        error::{
            BybitCancelOrderError, BybitHttpError, BybitModifyOrderError, BybitSubmitOrderError,
            is_bybit_ambiguous_order_error_code,
        },
    },
    websocket::{
        client::BybitWebSocketClient,
        dispatch::{
            OrderIdentity, OrderStateSnapshot, PendingOperation, WsDispatchState,
            dispatch_ws_message,
        },
        messages::{BybitWsAmendOrderParams, BybitWsCancelOrderParams, BybitWsPlaceOrderParams},
    },
};

/// Live execution client for Bybit.
#[derive(Debug)]
pub struct BybitExecutionClient {
    core: ExecutionClientCore,
    clock: &'static AtomicTime,
    config: BybitExecutionClientConfig,
    emitter: ExecutionEventEmitter,
    http_client: BybitHttpClient,
    ws_private: BybitWebSocketClient,
    ws_trade: BybitWebSocketClient,
    session_tasks: TaskGroup,
    pending_tasks: TaskGroup,
    shutdown_errors: Vec<String>,
    instruments_cache: Arc<AHashMap<Ustr, InstrumentAny>>,
    dispatch_state: Arc<WsDispatchState>,
}

impl BybitExecutionClient {
    /// Creates a new [`BybitExecutionClient`].
    ///
    /// # Errors
    ///
    /// Returns an error if the client fails to initialize.
    pub fn new(
        core: ExecutionClientCore,
        config: BybitExecutionClientConfig,
    ) -> anyhow::Result<Self> {
        let (key_var, secret_var) = credential_env_vars(config.environment);
        let api_key = get_or_env_var(config.api_key.clone(), key_var)?;
        let api_secret = get_or_env_var(config.api_secret.clone(), secret_var)?;

        let http_client = BybitHttpClient::with_credentials(
            api_key.clone(),
            api_secret.clone(),
            Some(config.http_base_url()),
            config.http_timeout_secs,
            config.max_retries,
            config.retry_delay_initial_ms,
            config.retry_delay_max_ms,
            config.recv_window_ms,
            config.proxy_url.clone(),
        )?;
        http_client.set_use_spot_position_reports(config.use_spot_position_reports);

        let mut ws_private = BybitWebSocketClient::new_private(
            config.environment,
            Some(api_key.clone()),
            Some(api_secret.clone()),
            Some(config.ws_private_url()),
            config.heartbeat_interval_secs,
            config.transport_backend,
            config.proxy_url.clone(),
        )
        .with_socket_control(SocketControl::new(
            core.client_id,
            Some(*BYBIT_VENUE),
            "bybit-user-streams",
        ));

        if let Some(secs) = config.auth_timeout_secs {
            ws_private.set_auth_wait_timeout(Duration::from_secs(secs));
        }

        let mut ws_trade = BybitWebSocketClient::new_trade(
            config.environment,
            Some(api_key),
            Some(api_secret),
            Some(config.ws_trade_url()),
            config.heartbeat_interval_secs,
            config.transport_backend,
            config.proxy_url.clone(),
        )
        .with_socket_control(SocketControl::new(
            core.client_id,
            Some(*BYBIT_VENUE),
            "bybit-trading",
        ));

        if let Some(secs) = config.auth_timeout_secs {
            ws_trade.set_auth_wait_timeout(Duration::from_secs(secs));
        }
        ws_trade.set_recv_window_ms(config.recv_window_ms);

        let clock = get_atomic_clock_realtime();
        let emitter = ExecutionEventEmitter::new(
            clock,
            core.trader_id,
            core.account_id,
            core.account_type,
            None,
        );

        let session_tasks = TaskGroup::new();
        let pending_tasks = TaskGroup::new();

        Ok(Self {
            core,
            clock,
            config,
            emitter,
            http_client,
            ws_private,
            ws_trade,
            session_tasks,
            pending_tasks,
            shutdown_errors: Vec::new(),
            instruments_cache: Arc::new(AHashMap::new()),
            dispatch_state: Arc::new(WsDispatchState::default()),
        })
    }

    fn product_types(&self) -> Vec<BybitProductType> {
        if self.config.product_types.is_empty() {
            vec![BybitProductType::Linear]
        } else {
            self.config.product_types.clone()
        }
    }

    fn update_account_state(&self) {
        let http_client = self.http_client.clone();
        let account_id = self.core.account_id;
        let emitter = self.emitter.clone();

        self.spawn_task("query_account", async move {
            let account_state = http_client
                .request_account_state(BybitAccountType::Unified, account_id)
                .await
                .context("failed to request Bybit account state")?;
            emitter.send_account_state(account_state);
            Ok(())
        });
    }

    fn spawn_task<F>(&self, description: &'static str, fut: F)
    where
        F: Future<Output = anyhow::Result<()>> + Send + 'static,
    {
        let future = async move {
            if let Err(e) = fut.await {
                log::warn!("{description} failed: {e:?}");
            }
        };

        if let Err(e) = self.pending_tasks.spawn(future) {
            log::warn!("Skipping Bybit {description} after shutdown began: {e}");
        }
    }

    fn abort_pending_tasks(&self) {
        self.pending_tasks.begin_shutdown();
    }

    fn abort_session_tasks(&self) {
        self.session_tasks.begin_shutdown();
    }

    async fn await_pending_tasks(&self) -> anyhow::Result<()> {
        self.pending_tasks.begin_shutdown();
        self.pending_tasks
            .finish_shutdown(Duration::from_secs(1), Duration::from_secs(2))
            .await
            .map_err(|e| anyhow::anyhow!("Failed to terminate Bybit execution tasks: {e}"))?;
        Ok(())
    }

    async fn await_session_tasks(&self) -> anyhow::Result<()> {
        self.session_tasks.begin_shutdown();
        self.session_tasks
            .finish_shutdown(Duration::from_secs(1), Duration::from_secs(2))
            .await
            .map_err(|e| {
                anyhow::anyhow!("Failed to terminate Bybit execution session tasks: {e}")
            })?;
        Ok(())
    }

    async fn teardown_partial_connect(&mut self) -> anyhow::Result<()> {
        self.abort_session_tasks();
        self.abort_pending_tasks();
        self.http_client.cancel_all_requests();
        self.ws_private.begin_shutdown();
        self.ws_trade.begin_shutdown();

        if let Err(e) = self.ws_private.close().await {
            self.shutdown_errors
                .push(format!("private WebSocket shutdown failed: {e}"));
        }

        if let Err(e) = self.ws_trade.close().await {
            self.shutdown_errors
                .push(format!("trade WebSocket shutdown failed: {e}"));
        }
        self.dispatch_state.clear_repay_sender();

        if let Err(e) = self.await_session_tasks().await {
            self.shutdown_errors.push(e.to_string());
        }

        if let Err(e) = self.await_pending_tasks().await {
            self.shutdown_errors.push(e.to_string());
        }
        self.core.set_disconnected();

        if self.shutdown_errors.is_empty() {
            Ok(())
        } else {
            let errors = std::mem::take(&mut self.shutdown_errors);
            anyhow::bail!("Bybit execution shutdown failed: {}", errors.join("; "))
        }
    }

    /// Polls the cache until the account is registered or timeout is reached.
    async fn await_account_registered(&self, timeout_secs: f64) -> anyhow::Result<()> {
        let account_id = self.core.account_id;

        if self.core.cache().account(&account_id).is_some() {
            log::info!("Account {account_id} registered");
            return Ok(());
        }

        let start = Instant::now();
        let timeout = Duration::from_secs_f64(timeout_secs);
        let interval = Duration::from_millis(10);

        loop {
            tokio::time::sleep(interval).await;

            if self.core.cache().account(&account_id).is_some() {
                log::info!("Account {account_id} registered");
                return Ok(());
            }

            if start.elapsed() >= timeout {
                anyhow::bail!(
                    "Timeout waiting for account {account_id} to be registered after {timeout_secs}s"
                );
            }
        }
    }

    fn get_product_type_for_instrument(&self, instrument_id: InstrumentId) -> BybitProductType {
        BybitProductType::from_suffix(instrument_id.symbol.as_str()).unwrap_or_else(|| {
            log::warn!("No product-type suffix on {instrument_id}, defaulting to Linear");
            BybitProductType::Linear
        })
    }

    const fn provides_bulk_position_coverage_for_product_type(
        product_type: BybitProductType,
    ) -> bool {
        !matches!(product_type, BybitProductType::Spot)
    }

    async fn generate_bulk_position_status_reports(
        &self,
        product_types: Vec<BybitProductType>,
    ) -> anyhow::Result<Vec<PositionStatusReport>> {
        let mut reports = Vec::new();

        for product_type in product_types {
            if !Self::provides_bulk_position_coverage_for_product_type(product_type) {
                continue;
            }

            let mut fetched = self
                .http_client
                .request_position_status_reports(self.core.account_id, product_type, None)
                .await?;
            reports.append(&mut fetched);
        }

        Ok(reports)
    }

    fn resolve_position_idx(
        &self,
        instrument_id: InstrumentId,
        order_side: BybitOrderSide,
        is_reduce_only: bool,
        manual_override: Option<BybitPositionIdx>,
    ) -> Option<BybitPositionIdx> {
        let product_type = self.get_product_type_for_instrument(instrument_id);
        if !matches!(
            product_type,
            BybitProductType::Linear | BybitProductType::Inverse
        ) {
            return None;
        }
        let mode = self
            .config
            .position_mode
            .as_ref()
            .and_then(|map| map.get(instrument_id.symbol.as_str()).copied());
        resolve_bybit_position_idx(mode, order_side, is_reduce_only, manual_override)
    }

    async fn apply_account_configuration(&self) -> anyhow::Result<()> {
        self.apply_leverages_setting().await;
        self.apply_position_modes_setting().await;
        self.apply_margin_mode_setting().await
    }

    async fn apply_leverages_setting(&self) {
        let Some(leverages) = &self.config.futures_leverages else {
            return;
        };

        for (symbol_str, leverage) in leverages {
            self.apply_leverage_entry(symbol_str, *leverage).await;
        }
    }

    async fn apply_leverage_entry(&self, symbol_str: &str, leverage: u32) {
        let Some(symbol) = Self::parse_derivative_symbol(symbol_str) else {
            return;
        };
        let lev = leverage.to_string();
        let result = self
            .http_client
            .set_leverage(symbol.product_type(), symbol.raw_symbol(), &lev, &lev)
            .await;

        match result {
            Ok(_) => log::info!("Set leverage for {symbol_str} to {leverage}"),
            Err(e) if Self::is_unchanged_error(&e, "110043") => {
                log::debug!("Leverage already set for {symbol_str} to {leverage}");
            }
            Err(e) => log::error!("Failed to set leverage for {symbol_str}: {e}"),
        }
    }

    async fn apply_position_modes_setting(&self) {
        let Some(modes) = &self.config.position_mode else {
            return;
        };

        for (symbol_str, mode) in modes {
            self.apply_position_mode_entry(symbol_str, *mode).await;
        }
    }

    async fn apply_position_mode_entry(&self, symbol_str: &str, mode: BybitPositionMode) {
        let Some(symbol) = Self::parse_derivative_symbol(symbol_str) else {
            return;
        };
        let result = self
            .http_client
            .switch_mode(
                symbol.product_type(),
                mode,
                Some(symbol.raw_symbol().to_string()),
                None,
            )
            .await;

        match result {
            Ok(_) => log::info!("Set symbol `{symbol_str}` position mode to `{mode:?}`"),
            Err(e) if Self::is_unchanged_error(&e, "110025") => {
                log::debug!("Symbol `{symbol_str}` position mode already set to `{mode:?}`");
            }
            Err(e) => log::error!("Failed to set position mode for {symbol_str}: {e}"),
        }
    }

    async fn apply_margin_mode_setting(&self) -> anyhow::Result<()> {
        let Some(margin_mode) = self.config.margin_mode else {
            return Ok(());
        };

        let result = self.http_client.set_margin_mode(margin_mode).await;

        match result {
            Ok(_) => {
                log::info!("Set account margin mode to {margin_mode:?}");
                Ok(())
            }
            Err(e) if Self::is_unchanged_error(&e, "") => {
                log::debug!("Margin mode already set to {margin_mode:?}");
                Ok(())
            }
            Err(e) if Self::is_low_margin_error(&e) => {
                log::warn!("Cannot set margin mode: {e}");
                Ok(())
            }
            Err(e) => Err(anyhow::Error::from(e).context("failed to set margin mode")),
        }
    }

    fn parse_derivative_symbol(symbol_str: &str) -> Option<BybitSymbol> {
        let symbol = match BybitSymbol::new(symbol_str) {
            Ok(s) => s,
            Err(e) => {
                log::warn!("Failed to parse symbol {symbol_str}: {e}");
                return None;
            }
        };
        matches!(
            symbol.product_type(),
            BybitProductType::Linear | BybitProductType::Inverse
        )
        .then_some(symbol)
    }

    fn is_unchanged_error<E: std::fmt::Display>(err: &E, code: &str) -> bool {
        let msg = err.to_string().to_lowercase();
        if msg.contains("not been modified") {
            return true;
        }
        !code.is_empty() && msg.contains(code)
    }

    fn is_low_margin_error<E: std::fmt::Display>(err: &E) -> bool {
        err.to_string()
            .contains("needs to be equal to or greater than")
    }

    fn map_order_type(order_type: OrderType) -> anyhow::Result<(BybitOrderType, bool)> {
        match order_type {
            OrderType::Market => Ok((BybitOrderType::Market, false)),
            OrderType::Limit => Ok((BybitOrderType::Limit, false)),
            OrderType::StopMarket | OrderType::MarketIfTouched => {
                Ok((BybitOrderType::Market, true))
            }
            OrderType::StopLimit | OrderType::LimitIfTouched => Ok((BybitOrderType::Limit, true)),
            _ => anyhow::bail!("unsupported order type for Bybit: {order_type}"),
        }
    }

    fn map_time_in_force(tif: TimeInForce, is_post_only: bool) -> BybitTimeInForce {
        if is_post_only {
            return BybitTimeInForce::PostOnly;
        }

        match tif {
            TimeInForce::Gtc => BybitTimeInForce::Gtc,
            TimeInForce::Ioc => BybitTimeInForce::Ioc,
            TimeInForce::Fok => BybitTimeInForce::Fok,
            _ => BybitTimeInForce::Gtc,
        }
    }

    fn validate_bbo_params(
        order: &OrderAny,
        product_type: BybitProductType,
        tp_sl: &BybitTpSlParams,
    ) -> anyhow::Result<()> {
        if !tp_sl.has_bbo() {
            return Ok(());
        }

        anyhow::ensure!(
            matches!(
                product_type,
                BybitProductType::Linear | BybitProductType::Inverse
            ),
            "`bbo_side_type` and `bbo_level` are only supported for Bybit linear and inverse products"
        );

        let order_type = order.order_type();
        anyhow::ensure!(
            matches!(
                order_type,
                OrderType::Limit | OrderType::StopLimit | OrderType::LimitIfTouched
            ),
            "`bbo_side_type` and `bbo_level` are not supported for order type {order_type:?}"
        );

        Ok(())
    }

    fn build_ws_place_params(
        order: &OrderAny,
        product_type: BybitProductType,
        raw_symbol: &str,
        tp_sl: &BybitTpSlParams,
        position_idx: Option<BybitPositionIdx>,
    ) -> anyhow::Result<BybitWsPlaceOrderParams> {
        let bybit_side = BybitOrderSide::from(order.order_side());
        let (bybit_order_type, is_conditional) = Self::map_order_type(order.order_type())?;
        let has_tp_sl = tp_sl.has_tp_sl();
        let trigger_dir = trigger_direction(order.order_type(), order.order_side(), is_conditional);

        Ok(BybitWsPlaceOrderParams {
            category: product_type,
            symbol: Ustr::from(raw_symbol),
            side: bybit_side,
            order_type: bybit_order_type,
            qty: order.quantity().to_string(),
            is_leverage: spot_leverage(product_type, tp_sl.is_leverage),
            market_unit: spot_market_unit(
                product_type,
                bybit_order_type,
                order.is_quote_quantity(),
            ),
            price: if tp_sl.has_bbo() {
                None
            } else {
                order.price().map(|p: Price| p.to_string())
            },
            time_in_force: if bybit_order_type == BybitOrderType::Market {
                None
            } else {
                Some(Self::map_time_in_force(
                    order.time_in_force(),
                    order.is_post_only(),
                ))
            },
            order_link_id: Some(order.client_order_id().to_string()),
            reduce_only: if order.is_reduce_only() {
                Some(true)
            } else {
                None
            },
            close_on_trigger: tp_sl.close_on_trigger,
            trigger_price: order.trigger_price().map(|p: Price| p.to_string()),
            trigger_by: if is_conditional {
                Some(resolve_trigger_type(order.trigger_type()))
            } else {
                None
            },
            trigger_direction: trigger_dir.map(|d| d as i32),
            tpsl_mode: tp_sl.tpsl_mode.or(has_tp_sl.then_some(BybitTpSlMode::Full)),
            take_profit: tp_sl.take_profit.map(|p| p.to_string()),
            stop_loss: tp_sl.stop_loss.map(|p| p.to_string()),
            tp_trigger_by: tp_sl.tp_trigger_by.or(tp_sl
                .take_profit
                .map(|_| resolve_trigger_type(order.trigger_type()))),
            sl_trigger_by: tp_sl.sl_trigger_by.or(tp_sl
                .stop_loss
                .map(|_| resolve_trigger_type(order.trigger_type()))),
            sl_trigger_price: tp_sl.sl_trigger_price.clone(),
            tp_trigger_price: tp_sl.tp_trigger_price.clone(),
            sl_order_type: tp_sl.sl_order_type,
            tp_order_type: tp_sl.tp_order_type,
            sl_limit_price: tp_sl.sl_limit_price.clone(),
            tp_limit_price: tp_sl.tp_limit_price.clone(),
            order_iv: tp_sl.order_iv.clone(),
            mmp: tp_sl.mmp,
            position_idx,
            bbo_side_type: tp_sl.bbo_side_type,
            bbo_level: tp_sl.bbo_level.clone(),
        })
    }
}

fn submit_rejection_reason(error: &anyhow::Error) -> Option<&str> {
    for cause in error.chain() {
        if let Some(submit_error) = cause.downcast_ref::<BybitSubmitOrderError>() {
            return match submit_error {
                BybitSubmitOrderError::Rejected { reason } => Some(reason.as_str()),
                BybitSubmitOrderError::MissingOrderId
                | BybitSubmitOrderError::PostSubmitLookup { .. } => None,
            };
        }

        if let Some(BybitHttpError::BybitError {
            error_code,
            message,
        }) = cause.downcast_ref()
            && !is_bybit_ambiguous_order_error_code(i64::from(*error_code))
        {
            return Some(message.as_str());
        }
    }
    None
}

#[async_trait(?Send)]
impl ExecutionClient for BybitExecutionClient {
    fn is_connected(&self) -> bool {
        self.core.is_connected()
    }

    fn client_id(&self) -> ClientId {
        self.core.client_id
    }

    fn account_id(&self) -> AccountId {
        self.core.account_id
    }

    fn venue(&self) -> Venue {
        *BYBIT_VENUE
    }

    fn oms_type(&self) -> OmsType {
        self.core.oms_type
    }

    fn get_account(&self) -> Option<AccountAny> {
        self.core.cache().account_owned(&self.core.account_id)
    }

    fn provides_bulk_position_coverage(&self, instrument_id: InstrumentId) -> bool {
        // Resolve the suffix directly rather than through `get_product_type_for_instrument`, whose
        // Linear fallback would claim coverage for an identifier this adapter cannot classify. A
        // recognized derivative suffix is still uncovered when its product type is unconfigured,
        // since the bulk loop only queries `product_types()`.
        let Some(product_type) = BybitProductType::from_suffix(instrument_id.symbol.as_str())
        else {
            return false;
        };

        self.product_types().contains(&product_type)
            && Self::provides_bulk_position_coverage_for_product_type(product_type)
    }

    async fn connect(&mut self) -> anyhow::Result<()> {
        if self.core.is_connected() && self.pending_tasks.is_open() && self.session_tasks.is_open()
        {
            return Ok(());
        }

        if !self.pending_tasks.is_open() || !self.session_tasks.is_open() {
            self.teardown_partial_connect().await?;
        }

        if !self.pending_tasks.is_open() {
            self.await_pending_tasks().await?;
            self.pending_tasks
                .start_generation()
                .map_err(|e| anyhow::anyhow!("Failed to start Bybit task generation: {e}"))?;
        }

        if !self.session_tasks.is_open() {
            self.await_session_tasks().await?;
            self.session_tasks
                .start_generation()
                .map_err(|e| anyhow::anyhow!("Failed to start Bybit session generation: {e}"))?;
        }
        let http_client = self.http_client.clone();
        let ws_private = self.ws_private.clone();
        let ws_trade = self.ws_trade.clone();
        let setup_guard =
            TaskGroupGuard::new(&[&self.session_tasks, &self.pending_tasks], move || {
                http_client.cancel_all_requests();
                ws_private.begin_shutdown();
                ws_trade.begin_shutdown();
            });

        let connect_result: anyhow::Result<()> = async {
            // Reset after a prior disconnect so REST calls are not short-circuited
            self.http_client.reset_cancellation_token();

            let product_types = self.product_types();

            if !self.core.instruments_initialized() {
                let mut all_instruments = Vec::new();

                for product_type in &product_types {
                    let instruments = self
                        .http_client
                        .request_instruments(*product_type, None, None)
                        .await
                        .with_context(|| {
                            format!("failed to request Bybit instruments for {product_type:?}")
                        })?;

                    if instruments.is_empty() {
                        log::warn!("No instruments returned for {product_type:?}");
                        continue;
                    }

                    log::debug!("Loaded {} {product_type:?} instruments", instruments.len());

                    self.http_client.cache_instruments(&instruments);
                    all_instruments.extend(instruments);
                }

                if !all_instruments.is_empty() {
                    let mut instruments_map = AHashMap::new();
                    for instrument in &all_instruments {
                        instruments_map.insert(instrument.id().symbol.inner(), instrument.clone());
                    }
                    self.instruments_cache = Arc::new(instruments_map);
                }
                self.core.set_instruments_initialized();
            }

            self.ws_private.set_account_id(self.core.account_id);
            self.ws_trade.set_account_id(self.core.account_id);

            self.ws_private.connect().await?;
            self.ws_private.wait_until_active(10.0).await?;
            log::debug!("Connected to private WebSocket");

            let stream = self.ws_private.stream();
            let emitter = self.emitter.clone();
            let account_id = self.core.account_id;
            let instruments = Arc::clone(&self.instruments_cache);
            let state = Arc::clone(&self.dispatch_state);
            let clock = self.clock;

            self.session_tasks.spawn(async move {
                pin_mut!(stream);
                while let Some(message) = stream.next().await {
                    dispatch_ws_message(
                        &message,
                        &emitter,
                        &state,
                        account_id,
                        &instruments,
                        clock,
                    );
                }
            })?;

            // Demo environment does not support Trade WebSocket API
            if self.config.environment == BybitEnvironment::Demo {
                log::warn!("Demo mode: Trade WebSocket not available, orders use HTTP REST API");
            } else {
                self.ws_trade.connect().await?;
                self.ws_trade.wait_until_active(10.0).await?;
                log::debug!("Connected to trade WebSocket");

                let stream = self.ws_trade.stream();
                let emitter = self.emitter.clone();
                let account_id = self.core.account_id;
                let instruments = Arc::clone(&self.instruments_cache);
                let state = Arc::clone(&self.dispatch_state);
                let clock = self.clock;

                self.session_tasks.spawn(async move {
                    pin_mut!(stream);
                    while let Some(message) = stream.next().await {
                        dispatch_ws_message(
                            &message,
                            &emitter,
                            &state,
                            account_id,
                            &instruments,
                            clock,
                        );
                    }
                })?;
            }

            if self.config.auto_repay_spot_borrows {
                let (tx, rx) = tokio::sync::mpsc::unbounded_channel();
                self.dispatch_state.set_repay_sender(tx);

                let http_client = self.http_client.clone();
                let clock = self.clock;
                self.session_tasks.spawn(async move {
                    crate::repay::run_spot_repay_consumer(rx, http_client, clock).await;
                })?;
            }

            self.ws_private.subscribe_orders().await?;
            self.ws_private.subscribe_executions().await?;
            self.ws_private.subscribe_positions().await?;
            self.ws_private.subscribe_wallet().await?;

            self.apply_account_configuration().await?;

            let account_state = self
                .http_client
                .request_account_state(BybitAccountType::Unified, self.core.account_id)
                .await
                .context("failed to request Bybit account state")?;

            if !account_state.balances.is_empty() {
                log::debug!(
                    "Received account state with {} balance(s)",
                    account_state.balances.len()
                );
            }
            self.emitter.send_account_state(account_state);

            self.await_account_registered(30.0).await?;

            Ok(())
        }
        .await;

        if let Err(e) = connect_result {
            if let Err(teardown_error) = self.teardown_partial_connect().await {
                return Err(e.context(format!("Bybit startup teardown failed: {teardown_error}")));
            }
            return Err(e);
        }

        setup_guard.disarm();
        self.core.set_connected();
        log::info!("Connected: client_id={}", self.core.client_id);
        Ok(())
    }

    async fn disconnect(&mut self) -> anyhow::Result<()> {
        self.teardown_partial_connect().await?;
        log::info!("Disconnected: client_id={}", self.core.client_id);
        Ok(())
    }

    fn query_account(&self, _cmd: QueryAccount) -> anyhow::Result<()> {
        self.update_account_state();
        Ok(())
    }

    fn query_order(&self, cmd: QueryOrder) -> anyhow::Result<()> {
        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);
        let client_order_id = cmd.client_order_id;
        let venue_order_id = cmd.venue_order_id;
        let account_id = self.core.account_id;
        let http_client = self.http_client.clone();
        let emitter = self.emitter.clone();

        self.spawn_task("query_order", async move {
            match http_client
                .query_order(
                    account_id,
                    product_type,
                    instrument_id,
                    Some(client_order_id),
                    venue_order_id,
                )
                .await
            {
                Ok(Some(report)) => {
                    emitter.send_order_status_report(report);
                }
                Ok(None) => {
                    log::warn!("Order not found: client_order_id={client_order_id}, venue_order_id={venue_order_id:?}");
                }
                Err(e) => {
                    log::error!("Failed to query order: {e}");
                }
            }
            Ok(())
        });

        Ok(())
    }

    fn generate_account_state(
        &self,
        balances: Vec<AccountBalance>,
        margins: Vec<MarginBalance>,
        reported: bool,
        ts_event: UnixNanos,
        info: Option<Params>,
    ) -> anyhow::Result<()> {
        self.emitter
            .emit_account_state(balances, margins, reported, ts_event, info);
        Ok(())
    }

    fn start(&mut self) -> anyhow::Result<()> {
        if self.core.is_started() {
            return Ok(());
        }

        let sender = get_exec_event_sender();
        self.emitter.set_sender(sender);
        self.core.set_started();

        let http_client = self.http_client.clone();
        let product_types = self.config.product_types.clone();

        self.session_tasks.spawn(async move {
            let mut all_instruments = Vec::new();

            for product_type in product_types {
                match http_client
                    .request_instruments(product_type, None, None)
                    .await
                {
                    Ok(instruments) => {
                        if instruments.is_empty() {
                            log::warn!("No instruments returned for {product_type:?}");
                            continue;
                        }
                        http_client.cache_instruments(&instruments);
                        all_instruments.extend(instruments);
                    }
                    Err(e) => {
                        log::error!("Failed to request instruments for {product_type:?}: {e}");
                    }
                }
            }

            if all_instruments.is_empty() {
                log::warn!(
                    "Instrument bootstrap yielded no instruments; WebSocket submissions may fail"
                );
            } else {
                log::debug!("Instruments initialized: count={}", all_instruments.len());
            }
        })?;

        log::info!(
            "Started: client_id={}, account_id={}, account_type={:?}, product_types={:?}, environment={:?}, proxy_url={:?}",
            self.core.client_id,
            self.core.account_id,
            self.core.account_type,
            self.config.product_types,
            self.config.environment,
            self.config.proxy_url,
        );
        Ok(())
    }

    fn stop(&mut self) -> anyhow::Result<()> {
        if self.core.is_stopped() {
            return Ok(());
        }

        self.core.set_stopped();
        self.core.set_disconnected();

        self.abort_session_tasks();
        self.abort_pending_tasks();
        self.http_client.cancel_all_requests();
        self.ws_private.begin_shutdown();
        self.ws_trade.begin_shutdown();
        log::info!("Stopped: client_id={}", self.core.client_id);
        Ok(())
    }

    async fn generate_order_status_report(
        &self,
        cmd: &GenerateOrderStatusReport,
    ) -> anyhow::Result<Option<OrderStatusReport>> {
        let Some(instrument_id) = cmd.instrument_id else {
            log::warn!("generate_order_status_report requires instrument_id: {cmd:?}");
            return Ok(None);
        };

        let product_type = self.get_product_type_for_instrument(instrument_id);

        let mut reports = self
            .http_client
            .request_order_status_reports(
                self.core.account_id,
                product_type,
                Some(instrument_id),
                false,
                None,
                None,
                None,
            )
            .await?;

        if let Some(client_order_id) = cmd.client_order_id {
            reports.retain(|report| report.client_order_id == Some(client_order_id));
        }

        if let Some(venue_order_id) = cmd.venue_order_id {
            reports.retain(|report| report.venue_order_id.as_str() == venue_order_id.as_str());
        }

        let report = reports.into_iter().next();
        if let Some(report) = &report {
            self.cache_reconciliation_order_identity(report);
        }

        Ok(report)
    }

    async fn generate_order_status_reports(
        &self,
        cmd: &GenerateOrderStatusReports,
    ) -> anyhow::Result<Vec<OrderStatusReport>> {
        let mut reports = Vec::new();

        if let Some(instrument_id) = cmd.instrument_id {
            let product_type = self.get_product_type_for_instrument(instrument_id);
            let mut fetched = self
                .http_client
                .request_order_status_reports(
                    self.core.account_id,
                    product_type,
                    Some(instrument_id),
                    cmd.open_only,
                    None,
                    None,
                    None,
                )
                .await?;
            reports.append(&mut fetched);
        } else {
            for product_type in self.product_types() {
                let mut fetched = self
                    .http_client
                    .request_order_status_reports(
                        self.core.account_id,
                        product_type,
                        None,
                        cmd.open_only,
                        None,
                        None,
                        None,
                    )
                    .await?;
                reports.append(&mut fetched);
            }
        }

        if let Some(start) = cmd.start {
            reports.retain(|r| r.ts_last >= start);
        }

        if let Some(end) = cmd.end {
            reports.retain(|r| r.ts_last <= end);
        }

        for report in &reports {
            self.cache_reconciliation_order_identity(report);
        }

        Ok(reports)
    }

    async fn generate_fill_reports(
        &self,
        cmd: GenerateFillReports,
    ) -> anyhow::Result<Vec<FillReport>> {
        let start_ms = nanos_to_millis(cmd.start);
        let end_ms = nanos_to_millis(cmd.end);
        let mut reports = Vec::new();

        if let Some(instrument_id) = cmd.instrument_id {
            let product_type = self.get_product_type_for_instrument(instrument_id);
            let mut fetched = self
                .http_client
                .request_fill_reports(
                    self.core.account_id,
                    product_type,
                    Some(instrument_id),
                    start_ms,
                    end_ms,
                    None,
                )
                .await?;
            reports.append(&mut fetched);
        } else {
            for product_type in self.product_types() {
                let mut fetched = self
                    .http_client
                    .request_fill_reports(
                        self.core.account_id,
                        product_type,
                        None,
                        start_ms,
                        end_ms,
                        None,
                    )
                    .await?;
                reports.append(&mut fetched);
            }
        }

        if let Some(venue_order_id) = cmd.venue_order_id {
            reports.retain(|report| report.venue_order_id.as_str() == venue_order_id.as_str());
        }

        Ok(reports)
    }

    async fn generate_position_status_reports(
        &self,
        cmd: &GeneratePositionStatusReports,
    ) -> anyhow::Result<Vec<PositionStatusReport>> {
        if let Some(instrument_id) = cmd.instrument_id {
            let product_type = self.get_product_type_for_instrument(instrument_id);
            self.http_client
                .request_position_status_reports(
                    self.core.account_id,
                    product_type,
                    Some(instrument_id),
                )
                .await
        } else {
            self.generate_bulk_position_status_reports(self.product_types())
                .await
        }
    }

    async fn generate_mass_status(
        &self,
        lookback_mins: Option<u64>,
    ) -> anyhow::Result<Option<ExecutionMassStatus>> {
        log::info!("Generating ExecutionMassStatus (lookback_mins={lookback_mins:?})");

        let ts_now = self.clock.get_time_ns();

        let start = lookback_mins.map(|mins| {
            let lookback_ns = mins * 60 * 1_000_000_000;
            UnixNanos::from(ts_now.as_u64().saturating_sub(lookback_ns))
        });

        let order_cmd = GenerateOrderStatusReportsBuilder::default()
            .ts_init(ts_now)
            .open_only(false)
            .start(start)
            .build()
            .map_err(|e| anyhow::anyhow!("{e}"))?;

        let fill_cmd = GenerateFillReportsBuilder::default()
            .ts_init(ts_now)
            .start(start)
            .build()
            .map_err(|e| anyhow::anyhow!("{e}"))?;

        let position_reports_fut = async {
            let product_types = self.product_types();
            let skip_spot = product_types.iter().any(|product_type| {
                !Self::provides_bulk_position_coverage_for_product_type(*product_type)
            });

            if skip_spot {
                log::warn!(
                    "SPOT mass-status position coverage is unavailable because wallet balances cannot be attributed to pairs"
                );
            }

            self.generate_bulk_position_status_reports(product_types)
                .await
        };

        let (order_reports, fill_reports, position_reports) = tokio::try_join!(
            self.generate_order_status_reports(&order_cmd),
            self.generate_fill_reports(fill_cmd),
            position_reports_fut,
        )?;

        log::info!("Received {} OrderStatusReports", order_reports.len());
        log::info!("Received {} FillReports", fill_reports.len());
        log::info!("Received {} PositionReports", position_reports.len());

        let mut mass_status = ExecutionMassStatus::new(
            self.core.client_id,
            self.core.account_id,
            *BYBIT_VENUE,
            ts_now,
            None,
        );

        mass_status.add_order_reports(order_reports);
        mass_status.add_fill_reports(fill_reports);
        mass_status.add_position_reports(position_reports);

        Ok(Some(mass_status))
    }

    fn submit_order(&self, cmd: SubmitOrder) -> anyhow::Result<()> {
        let order = self.core.cache().try_order_owned(&cmd.client_order_id)?;
        if order.is_closed() {
            log::warn!("Cannot submit closed order {}", order.client_order_id());
            return Ok(());
        }

        let instrument_id = order.instrument_id();
        let product_type = self.get_product_type_for_instrument(instrument_id);

        // Validate order params before emitting submitted event
        if Self::map_order_type(order.order_type()).is_err() {
            let denied = OrderDeniedReason::UnsupportedOrderType {
                order_type: order.order_type(),
            };
            self.emitter.emit_order_denied(&order, &denied.to_string());
            return Ok(());
        }

        let tp_sl = match parse_bybit_tp_sl_params(cmd.params.as_ref()) {
            Ok(p) => p,
            Err(e) => {
                let denied = OrderDeniedReason::ValidationFailed {
                    detail: e.to_string(),
                };
                self.emitter.emit_order_denied(&order, &denied.to_string());
                return Ok(());
            }
        };

        if let Err(e) = Self::validate_bbo_params(&order, product_type, &tp_sl) {
            let denied = OrderDeniedReason::ValidationFailed {
                detail: e.to_string(),
            };
            self.emitter.emit_order_denied(&order, &denied.to_string());
            return Ok(());
        }

        // The demo HTTP create-order entry cannot carry TP/SL trigger prices (only the mainnet
        // WS path can), so deny rather than submit an order missing the user's trigger prices.
        if self.config.environment == BybitEnvironment::Demo
            && (tp_sl.tp_trigger_price.is_some() || tp_sl.sl_trigger_price.is_some())
        {
            let denied = OrderDeniedReason::UnsupportedTpSl {
                detail: "TP/SL trigger prices are not supported in demo mode".to_string(),
            };
            self.emitter.emit_order_denied(&order, &denied.to_string());
            return Ok(());
        }

        log::debug!("OrderSubmitted client_order_id={}", order.client_order_id());
        self.emitter.emit_order_submitted(&order);

        let client_order_id = order.client_order_id();
        let strategy_id = order.strategy_id();
        let emitter = self.emitter.clone();
        let clock = self.clock;

        let bybit_side = BybitOrderSide::from(order.order_side());
        let position_idx = self.resolve_position_idx(
            instrument_id,
            bybit_side,
            order.is_reduce_only(),
            tp_sl.position_idx,
        );
        let venue_position_id =
            position_idx.and_then(|idx| make_hedge_venue_position_id(instrument_id, idx as i32));

        self.dispatch_state.order_identities.insert(
            client_order_id,
            OrderIdentity {
                instrument_id,
                strategy_id,
                order_side: order.order_side(),
                order_type: order.order_type(),
                venue_position_id,
            },
        );

        // Seed for BBO reconciliation: venue may replace the submitted price
        self.dispatch_state.order_snapshots.insert(
            client_order_id,
            OrderStateSnapshot {
                quantity: order.quantity(),
                price: order.price(),
                trigger_price: order.trigger_price(),
            },
        );

        if self.config.environment == BybitEnvironment::Demo {
            let http_client = self.http_client.clone();
            let account_id = self.core.account_id;
            let order_side = order.order_side();
            let order_type = order.order_type();
            let quantity = order.quantity();
            let time_in_force = order.time_in_force();
            let price = order.price();
            let trigger_price = order.trigger_price();
            let post_only = order.is_post_only();
            let reduce_only = order.is_reduce_only();
            let is_quote_quantity = order.is_quote_quantity();
            let is_leverage = tp_sl.is_leverage;
            let bbo_side_type = tp_sl.bbo_side_type;
            let bbo_level = tp_sl.bbo_level.clone();
            let native_tp_sl = tp_sl.to_native_tp_sl();
            let dispatch_state = Arc::clone(&self.dispatch_state);

            self.spawn_task("submit_order_http", async move {
                let native_tp_sl_ref = (!native_tp_sl.is_empty()).then_some(&native_tp_sl);
                let result = http_client
                    .submit_order(
                        account_id,
                        product_type,
                        instrument_id,
                        client_order_id,
                        order_side,
                        order_type,
                        quantity,
                        Some(time_in_force),
                        price,
                        trigger_price,
                        Some(post_only),
                        reduce_only,
                        is_quote_quantity,
                        is_leverage,
                        position_idx,
                        bbo_side_type,
                        bbo_level,
                        native_tp_sl_ref,
                    )
                    .await;

                if let Err(e) = result {
                    if let Some(reason) = submit_rejection_reason(&e) {
                        dispatch_state.order_identities.remove(&client_order_id);
                        dispatch_state.order_snapshots.remove(&client_order_id);
                        let ts_event = clock.get_time_ns();
                        emitter.emit_order_rejected_event(
                            strategy_id,
                            instrument_id,
                            client_order_id,
                            reason,
                            ts_event,
                            bybit_rejection_due_post_only(reason),
                        );
                        anyhow::bail!("submit order rejected: {reason}");
                    }

                    log::warn!(
                        "Submit failure without confirmed venue rejection for {client_order_id}: \
                         {e}; awaiting reconciliation",
                    );
                    return Ok(());
                }

                Ok(())
            });

            return Ok(());
        }

        let raw_symbol = extract_raw_symbol(instrument_id.symbol.as_str());
        let params =
            Self::build_ws_place_params(&order, product_type, raw_symbol, &tp_sl, position_idx)?;

        let ws_trade = self.ws_trade.clone();
        let dispatch_state = Arc::clone(&self.dispatch_state);

        self.spawn_task("submit_order", async move {
            let req_id = UUID4::new().to_string();
            dispatch_state.pending_requests.insert(
                req_id.clone(),
                (vec![client_order_id], vec![None], PendingOperation::Place),
            );

            if let Err(e) = ws_trade.place_order_with_id(params, req_id.clone()).await {
                dispatch_state.pending_requests.remove(&req_id);
                dispatch_state.order_identities.remove(&client_order_id);
                dispatch_state.order_snapshots.remove(&client_order_id);
                let reason = e.to_string();
                emitter.emit_order_rejected_event(
                    strategy_id,
                    instrument_id,
                    client_order_id,
                    &reason,
                    clock.get_time_ns(),
                    false,
                );
            }

            Ok(())
        });

        Ok(())
    }

    fn submit_order_list(&self, cmd: SubmitOrderList) -> anyhow::Result<()> {
        if cmd.order_list.client_order_ids.is_empty() {
            return Ok(());
        }

        let tp_sl = match parse_bybit_tp_sl_params(cmd.params.as_ref()) {
            Ok(p) => p,
            Err(e) => {
                let cache = self.core.cache();
                let denied = OrderDeniedReason::ValidationFailed {
                    detail: e.to_string(),
                }
                .to_string();

                for cid in &cmd.order_list.client_order_ids {
                    if let Some(order) = cache.order(cid) {
                        self.emitter.emit_order_denied(&order, &denied);
                    }
                }
                return Ok(());
            }
        };

        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);

        // The demo HTTP create-order entry cannot carry TP/SL trigger prices (only the mainnet
        // WS path can), so deny rather than submit orders missing the user's trigger prices.
        if self.config.environment == BybitEnvironment::Demo
            && (tp_sl.tp_trigger_price.is_some() || tp_sl.sl_trigger_price.is_some())
        {
            let cache = self.core.cache();
            let denied = OrderDeniedReason::UnsupportedTpSl {
                detail: "TP/SL trigger prices are not supported in demo mode".to_string(),
            }
            .to_string();

            for cid in &cmd.order_list.client_order_ids {
                if let Some(order) = cache.order(cid) {
                    self.emitter.emit_order_denied(&order, &denied);
                }
            }
            return Ok(());
        }

        let strategy_id = cmd.strategy_id;

        let mut valid_orders = Vec::with_capacity(cmd.order_list.client_order_ids.len());
        {
            let cache = self.core.cache();
            let order_list_id = cmd.order_list.id;
            let list_denied = OrderDeniedReason::OrderListDenied { order_list_id };
            // (offending leg, reason for the offending leg, reason for the remaining legs). A
            // single offending leg carries its specific reason and the rest render
            // `ORDER_LIST_DENIED`; a list-level failure renders the same reason for every leg.
            let mut denial: Option<(ClientOrderId, OrderDeniedReason, OrderDeniedReason)> = None;

            for cid in &cmd.order_list.client_order_ids {
                let Some(order) = cache.order(cid) else {
                    let reason = OrderDeniedReason::OrderListIncomplete { order_list_id };
                    denial = Some((*cid, reason.clone(), reason));
                    break;
                };

                if order.is_closed() {
                    denial = Some((
                        *cid,
                        OrderDeniedReason::ValidationFailed {
                            detail: format!("cannot submit closed order {cid}"),
                        },
                        list_denied,
                    ));
                    break;
                }

                if Self::map_order_type(order.order_type()).is_err() {
                    denial = Some((
                        *cid,
                        OrderDeniedReason::UnsupportedOrderType {
                            order_type: order.order_type(),
                        },
                        list_denied,
                    ));
                    break;
                }

                if let Err(e) = Self::validate_bbo_params(&order, product_type, &tp_sl) {
                    denial = Some((
                        *cid,
                        OrderDeniedReason::ValidationFailed {
                            detail: e.to_string(),
                        },
                        list_denied,
                    ));
                    break;
                }

                valid_orders.push(order.clone());
            }

            // Deny the entire list if any leg fails validation
            if let Some((offender, offender_reason, rest_reason)) = denial {
                let offender_reason = offender_reason.to_string();
                let rest_reason = rest_reason.to_string();

                for cid in &cmd.order_list.client_order_ids {
                    if let Some(order) = cache.order(cid) {
                        let reason = if *cid == offender {
                            offender_reason.as_str()
                        } else {
                            rest_reason.as_str()
                        };
                        self.emitter.emit_order_denied(&order, reason);
                    }
                }
                return Ok(());
            }
        }

        if valid_orders.is_empty() {
            return Ok(());
        }

        for order in &valid_orders {
            self.emitter.emit_order_submitted(order);
            let bybit_side = BybitOrderSide::from(order.order_side());
            let position_idx = self.resolve_position_idx(
                instrument_id,
                bybit_side,
                order.is_reduce_only(),
                tp_sl.position_idx,
            );
            let venue_position_id = position_idx
                .and_then(|idx| make_hedge_venue_position_id(instrument_id, idx as i32));
            self.dispatch_state.order_identities.insert(
                order.client_order_id(),
                OrderIdentity {
                    instrument_id,
                    strategy_id,
                    order_side: order.order_side(),
                    order_type: order.order_type(),
                    venue_position_id,
                },
            );
            self.dispatch_state.order_snapshots.insert(
                order.client_order_id(),
                OrderStateSnapshot {
                    quantity: order.quantity(),
                    price: order.price(),
                    trigger_price: order.trigger_price(),
                },
            );
        }

        let emitter = self.emitter.clone();
        let clock = self.clock;

        // Demo mode: submit individually via HTTP
        if self.config.environment == BybitEnvironment::Demo {
            let http_client = self.http_client.clone();
            let account_id = self.core.account_id;
            let is_leverage = tp_sl.is_leverage;
            let bbo_side_type = tp_sl.bbo_side_type;
            let bbo_level = tp_sl.bbo_level.clone();
            let native_tp_sl = tp_sl.to_native_tp_sl();
            let dispatch_state = Arc::clone(&self.dispatch_state);

            let order_data: Vec<_> = valid_orders
                .iter()
                .map(|o| {
                    let bybit_side = BybitOrderSide::from(o.order_side());
                    let position_idx = self.resolve_position_idx(
                        instrument_id,
                        bybit_side,
                        o.is_reduce_only(),
                        tp_sl.position_idx,
                    );
                    (
                        o.client_order_id(),
                        o.order_side(),
                        o.order_type(),
                        o.quantity(),
                        o.time_in_force(),
                        o.price(),
                        o.trigger_price(),
                        o.is_post_only(),
                        o.is_reduce_only(),
                        o.is_quote_quantity(),
                        position_idx,
                    )
                })
                .collect();

            self.spawn_task("submit_order_list_http", async move {
                let native_tp_sl_ref = (!native_tp_sl.is_empty()).then_some(&native_tp_sl);

                for (
                    cid,
                    side,
                    otype,
                    qty,
                    tif,
                    price,
                    trigger,
                    post_only,
                    reduce,
                    quote_qty,
                    position_idx,
                ) in order_data
                {
                    if let Err(e) = http_client
                        .submit_order(
                            account_id,
                            product_type,
                            instrument_id,
                            cid,
                            side,
                            otype,
                            qty,
                            Some(tif),
                            price,
                            trigger,
                            Some(post_only),
                            reduce,
                            quote_qty,
                            is_leverage,
                            position_idx,
                            bbo_side_type,
                            bbo_level.clone(),
                            native_tp_sl_ref,
                        )
                        .await
                    {
                        if let Some(reason) = submit_rejection_reason(&e) {
                            dispatch_state.order_identities.remove(&cid);
                            dispatch_state.order_snapshots.remove(&cid);
                            let ts_event = clock.get_time_ns();
                            emitter.emit_order_rejected_event(
                                strategy_id,
                                instrument_id,
                                cid,
                                reason,
                                ts_event,
                                bybit_rejection_due_post_only(reason),
                            );
                            continue;
                        }

                        log::warn!(
                            "Submit failure without confirmed venue rejection for {cid}: {e}; \
                             awaiting reconciliation",
                        );
                    }
                }
                Ok(())
            });

            return Ok(());
        }

        // Live mode: batch submit via WebSocket
        let raw_symbol = extract_raw_symbol(instrument_id.symbol.as_str());

        let mut order_params = Vec::with_capacity(valid_orders.len());
        let mut client_order_ids = Vec::with_capacity(valid_orders.len());

        for order in &valid_orders {
            let bybit_side = BybitOrderSide::from(order.order_side());
            let position_idx = self.resolve_position_idx(
                instrument_id,
                bybit_side,
                order.is_reduce_only(),
                tp_sl.position_idx,
            );
            let params =
                Self::build_ws_place_params(order, product_type, raw_symbol, &tp_sl, position_idx)
                    .expect("validated above");
            order_params.push(params);
            client_order_ids.push(order.client_order_id());
        }

        let ws_trade = self.ws_trade.clone();
        let dispatch_state = Arc::clone(&self.dispatch_state);

        self.spawn_task("submit_order_list", async move {
            let req_ids = BybitWebSocketClient::batch_request_ids(product_type, order_params.len());
            for (req_id, chunk_cids) in req_ids.iter().zip(
                client_order_ids
                    .chunks(batch_send_limit(product_type))
                    .map(|chunk| chunk.to_vec()),
            ) {
                let chunk_voids = vec![None; chunk_cids.len()];
                dispatch_state.pending_requests.insert(
                    req_id.clone(),
                    (chunk_cids, chunk_voids, PendingOperation::Place),
                );
            }

            if let Err(e) = ws_trade
                .batch_place_orders_with_ids(order_params, req_ids.clone())
                .await
            {
                for req_id in req_ids {
                    dispatch_state.pending_requests.remove(&req_id);
                }
                let reason = e.to_string();
                let ts_event = clock.get_time_ns();

                for client_order_id in client_order_ids {
                    dispatch_state.order_identities.remove(&client_order_id);
                    dispatch_state.order_snapshots.remove(&client_order_id);
                    emitter.emit_order_rejected_event(
                        strategy_id,
                        instrument_id,
                        client_order_id,
                        &reason,
                        ts_event,
                        false,
                    );
                }
            }
            Ok(())
        });

        Ok(())
    }

    fn modify_order(&self, cmd: ModifyOrder) -> anyhow::Result<()> {
        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);
        let client_order_id = cmd.client_order_id;
        let strategy_id = cmd.strategy_id;
        let venue_order_id = cmd.venue_order_id;
        let emitter = self.emitter.clone();
        let clock = self.clock;

        let has_order_iv = cmd
            .params
            .as_ref()
            .and_then(|p| p.get("order_iv"))
            .is_some();

        if self.config.environment == BybitEnvironment::Demo && has_order_iv {
            log::warn!(
                "Modify command failed local validation for {client_order_id}: {}",
                "Option params (order_iv) are not supported in demo mode",
            );
            return Ok(());
        }

        if self.config.environment == BybitEnvironment::Demo {
            let http_client = self.http_client.clone();
            let account_id = self.core.account_id;
            let quantity = cmd.quantity;
            let price = cmd.price;

            self.spawn_task("modify_order_http", async move {
                let result = http_client
                    .modify_order(
                        account_id,
                        product_type,
                        instrument_id,
                        Some(client_order_id),
                        venue_order_id,
                        quantity,
                        price,
                    )
                    .await;

                if let Err(e) = result {
                    match classify_modify_http_failure(&e) {
                        CommandFailure::VenueRejected(reason) => {
                            let ts_event = clock.get_time_ns();
                            emitter.emit_order_modify_rejected_event(
                                strategy_id,
                                instrument_id,
                                client_order_id,
                                venue_order_id,
                                &format!("modify-order-error: {reason}"),
                                ts_event,
                            );
                            anyhow::bail!("modify order rejected: {reason}");
                        }
                        CommandFailure::NotSent(reason) => {
                            log::warn!(
                                "HTTP modify command failed local validation for {client_order_id}: {reason}"
                            );
                        }
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous HTTP modify failure for {client_order_id}, awaiting reconciliation: {reason}"
                            );
                        }
                    }
                }

                Ok(())
            });

            return Ok(());
        }

        let raw_symbol = extract_raw_symbol(instrument_id.symbol.as_str());

        let order_iv = if let Some(value) = cmd.params.as_ref().and_then(|p| p.get("order_iv")) {
            match get_price_str(cmd.params.as_ref().unwrap(), "order_iv") {
                Some(s) => Some(s),
                None => {
                    log::warn!(
                        "Modify command failed local validation for {client_order_id}: invalid type for 'order_iv': {value}, expected string or number",
                    );
                    return Ok(());
                }
            }
        } else {
            None
        };

        let params = BybitWsAmendOrderParams {
            category: product_type,
            symbol: Ustr::from(raw_symbol),
            order_id: cmd.venue_order_id.map(|v| v.to_string()),
            order_link_id: Some(cmd.client_order_id.to_string()),
            qty: cmd.quantity.map(|q| q.to_string()),
            price: cmd.price.map(|p| p.to_string()),
            trigger_price: None,
            take_profit: None,
            stop_loss: None,
            tp_trigger_by: None,
            sl_trigger_by: None,
            order_iv,
        };

        let ws_trade = self.ws_trade.clone();
        let dispatch_state = Arc::clone(&self.dispatch_state);

        self.spawn_task("modify_order", async move {
            let req_id = UUID4::new().to_string();
            dispatch_state.pending_requests.insert(
                req_id.clone(),
                (
                    vec![client_order_id],
                    vec![venue_order_id],
                    PendingOperation::Amend,
                ),
            );

            if let Err(e) = ws_trade.amend_order_with_id(params, req_id.clone()).await {
                dispatch_state.pending_requests.remove(&req_id);
                emitter.emit_order_modify_rejected_event(
                    strategy_id,
                    instrument_id,
                    client_order_id,
                    venue_order_id,
                    &e.to_string(),
                    clock.get_time_ns(),
                );
            }

            Ok(())
        });

        Ok(())
    }

    fn cancel_order(&self, cmd: CancelOrder) -> anyhow::Result<()> {
        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);
        let client_order_id = cmd.client_order_id;
        let strategy_id = cmd.strategy_id;
        let venue_order_id = cmd.venue_order_id;
        let emitter = self.emitter.clone();
        let clock = self.clock;

        if self.config.environment == BybitEnvironment::Demo {
            let http_client = self.http_client.clone();
            let account_id = self.core.account_id;

            self.spawn_task("cancel_order_http", async move {
                let result = http_client
                    .cancel_order(
                        account_id,
                        product_type,
                        instrument_id,
                        Some(client_order_id),
                        venue_order_id,
                    )
                    .await;

                if let Err(e) = result {
                    match classify_cancel_http_failure(&e) {
                        CommandFailure::VenueRejected(reason) => {
                            let ts_event = clock.get_time_ns();
                            emitter.emit_order_cancel_rejected_event(
                                strategy_id,
                                instrument_id,
                                client_order_id,
                                venue_order_id,
                                &format!("cancel-order-error: {reason}"),
                                ts_event,
                            );
                            anyhow::bail!("cancel order rejected: {reason}");
                        }
                        CommandFailure::NotSent(reason) => {
                            log::warn!(
                                "HTTP cancel command failed local validation for {client_order_id}: {reason}"
                            );
                        }
                        CommandFailure::Ambiguous(reason) => {
                            log::warn!(
                                "Ambiguous HTTP cancel failure for {client_order_id}, awaiting reconciliation: {reason}"
                            );
                        }
                    }
                }

                Ok(())
            });

            return Ok(());
        }

        let raw_symbol = extract_raw_symbol(instrument_id.symbol.as_str());

        let params = BybitWsCancelOrderParams {
            category: product_type,
            symbol: Ustr::from(raw_symbol),
            order_id: cmd.venue_order_id.map(|v| v.to_string()),
            order_link_id: Some(cmd.client_order_id.to_string()),
        };

        let ws_trade = self.ws_trade.clone();
        let dispatch_state = Arc::clone(&self.dispatch_state);

        self.spawn_task("cancel_order", async move {
            let req_id = UUID4::new().to_string();
            dispatch_state.pending_requests.insert(
                req_id.clone(),
                (
                    vec![client_order_id],
                    vec![venue_order_id],
                    PendingOperation::Cancel,
                ),
            );

            if let Err(e) = ws_trade.cancel_order_with_id(params, req_id.clone()).await {
                dispatch_state.pending_requests.remove(&req_id);
                emitter.emit_order_cancel_rejected_event(
                    strategy_id,
                    instrument_id,
                    client_order_id,
                    venue_order_id,
                    &e.to_string(),
                    clock.get_time_ns(),
                );
            }

            Ok(())
        });

        Ok(())
    }

    fn cancel_all_orders(&self, cmd: CancelAllOrders) -> anyhow::Result<()> {
        if cmd.order_side.is_some() {
            log::warn!(
                "Bybit does not support order_side filtering for cancel all orders; \
                ignoring order_side={:?} and canceling all orders",
                cmd.order_side,
            );
        }

        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);
        let account_id = self.core.account_id;
        let http_client = self.http_client.clone();

        self.spawn_task("cancel_all_orders", async move {
            match http_client
                .cancel_all_orders(account_id, product_type, instrument_id)
                .await
            {
                Ok(reports) => {
                    for report in reports {
                        log::debug!("Cancelled order: {report:?}");
                    }
                }
                Err(e) => {
                    log::error!("Failed to cancel all orders for {instrument_id}: {e}");
                }
            }
            Ok(())
        });

        Ok(())
    }

    fn batch_cancel_orders(&self, cmd: BatchCancelOrders) -> anyhow::Result<()> {
        if cmd.cancels.is_empty() {
            return Ok(());
        }

        let instrument_id = cmd.instrument_id;
        let product_type = self.get_product_type_for_instrument(instrument_id);
        let strategy_id = cmd.strategy_id;
        let emitter = self.emitter.clone();
        let clock = self.clock;

        // Demo mode: cancel individually via HTTP (batch not supported)
        if self.config.environment == BybitEnvironment::Demo {
            let http_client = self.http_client.clone();
            let account_id = self.core.account_id;
            let cancels: Vec<_> = cmd
                .cancels
                .iter()
                .map(|c| (c.client_order_id, c.venue_order_id))
                .collect();

            self.spawn_task("batch_cancel_orders_http", async move {
                for (client_order_id, venue_order_id) in cancels {
                    if let Err(e) = http_client
                        .cancel_order(
                            account_id,
                            product_type,
                            instrument_id,
                            Some(client_order_id),
                            venue_order_id,
                        )
                        .await
                    {
                        match classify_cancel_http_failure(&e) {
                            CommandFailure::VenueRejected(reason) => {
                                let ts_event = clock.get_time_ns();
                                emitter.emit_order_cancel_rejected_event(
                                    strategy_id,
                                    instrument_id,
                                    client_order_id,
                                    venue_order_id,
                                    &format!("cancel-order-error: {reason}"),
                                    ts_event,
                                );
                            }
                            CommandFailure::NotSent(reason) => {
                                log::warn!(
                                    "HTTP batch cancel command failed local validation for {client_order_id}: {reason}"
                                );
                            }
                            CommandFailure::Ambiguous(reason) => {
                                log::warn!(
                                    "Ambiguous HTTP batch cancel failure for {client_order_id}, awaiting reconciliation: {reason}"
                                );
                            }
                        }
                    }
                }
                Ok(())
            });

            return Ok(());
        }

        let raw_symbol = Ustr::from(extract_raw_symbol(instrument_id.symbol.as_str()));

        let mut cancel_params = Vec::with_capacity(cmd.cancels.len());
        let client_order_ids: Vec<_> = cmd.cancels.iter().map(|c| c.client_order_id).collect();
        let venue_order_ids: Vec<_> = cmd.cancels.iter().map(|c| c.venue_order_id).collect();

        for cancel in &cmd.cancels {
            cancel_params.push(BybitWsCancelOrderParams {
                category: product_type,
                symbol: raw_symbol,
                order_id: cancel.venue_order_id.map(|v| v.to_string()),
                order_link_id: Some(cancel.client_order_id.to_string()),
            });
        }

        let ws_trade = self.ws_trade.clone();
        let dispatch_state = Arc::clone(&self.dispatch_state);

        self.spawn_task("batch_cancel_orders", async move {
            let req_ids =
                BybitWebSocketClient::batch_request_ids(product_type, cancel_params.len());
            let chunk_limit = batch_send_limit(product_type);

            for (req_id, (chunk_cids, chunk_voids)) in req_ids.iter().zip(
                client_order_ids
                    .chunks(chunk_limit)
                    .map(|chunk| chunk.to_vec())
                    .zip(
                        venue_order_ids
                            .chunks(chunk_limit)
                            .map(|chunk| chunk.to_vec()),
                    ),
            ) {
                dispatch_state.pending_requests.insert(
                    req_id.clone(),
                    (chunk_cids, chunk_voids, PendingOperation::Cancel),
                );
            }

            if let Err(e) = ws_trade
                .batch_cancel_orders_with_ids(cancel_params, req_ids.clone())
                .await
            {
                for req_id in req_ids {
                    dispatch_state.pending_requests.remove(&req_id);
                }
                let reason = e.to_string();
                let ts_event = clock.get_time_ns();

                for (client_order_id, venue_order_id) in
                    client_order_ids.into_iter().zip(venue_order_ids)
                {
                    emitter.emit_order_cancel_rejected_event(
                        strategy_id,
                        instrument_id,
                        client_order_id,
                        venue_order_id,
                        &reason,
                        ts_event,
                    );
                }
            }
            Ok(())
        });

        Ok(())
    }
}

fn classify_cancel_http_failure(error: &anyhow::Error) -> CommandFailure {
    if error
        .chain()
        .any(|cause| cause.downcast_ref::<BybitCancelOrderError>().is_some())
    {
        return CommandFailure::ambiguous(error.to_string());
    }

    classify_http_failure(error)
}

fn classify_modify_http_failure(error: &anyhow::Error) -> CommandFailure {
    if error
        .chain()
        .any(|cause| cause.downcast_ref::<BybitModifyOrderError>().is_some())
    {
        return CommandFailure::ambiguous(error.to_string());
    }

    classify_http_failure(error)
}

fn classify_http_failure(error: &anyhow::Error) -> CommandFailure {
    let reason = error.to_string();

    for cause in error.chain() {
        let Some(http_error) = cause.downcast_ref::<BybitHttpError>() else {
            continue;
        };

        return match http_error {
            BybitHttpError::BybitError { error_code, .. }
                if is_bybit_ambiguous_order_error_code(i64::from(*error_code)) =>
            {
                CommandFailure::Ambiguous(reason)
            }
            BybitHttpError::BybitError { .. } => CommandFailure::VenueRejected(reason),
            BybitHttpError::MissingCredentials
            | BybitHttpError::ValidationError(_)
            | BybitHttpError::BuildError(_) => CommandFailure::NotSent(reason),
            BybitHttpError::JsonError(_)
            | BybitHttpError::Canceled(_)
            | BybitHttpError::NetworkError(_)
            | BybitHttpError::UnexpectedStatus { .. } => CommandFailure::Ambiguous(reason),
        };
    }

    CommandFailure::NotSent(reason)
}

impl BybitExecutionClient {
    fn cache_reconciliation_order_identity(&self, report: &OrderStatusReport) {
        let Some(client_order_id) = report.client_order_id else {
            return;
        };

        if report.order_status.is_closed() {
            self.dispatch_state
                .order_identities
                .remove(&client_order_id);
            return;
        }

        let cache = self.core.cache();
        let Some(order) = cache.order(&client_order_id) else {
            return;
        };

        let identity = OrderIdentity {
            instrument_id: report.instrument_id,
            strategy_id: order.strategy_id(),
            order_side: order.order_side(),
            order_type: order.order_type(),
            venue_position_id: report.venue_position_id,
        };
        self.dispatch_state
            .order_identities
            .insert(client_order_id, identity);
    }
}

#[cfg(test)]
mod tests {
    use std::{cell::RefCell, rc::Rc, time::Duration};

    use nautilus_common::{
        cache::Cache,
        clients::ExecutionClient,
        messages::{
            ExecutionEvent,
            execution::{CancelOrder, ModifyOrder, SubmitOrder, SubmitOrderList},
        },
    };
    use nautilus_core::{Params, UUID4};
    use nautilus_live::ExecutionClientCore;
    use nautilus_model::{
        enums::{AccountType, OrderSide, OrderStatus},
        events::OrderEventAny,
        identifiers::{ClientOrderId, OrderListId, PositionId, StrategyId, TraderId, VenueOrderId},
        orders::{OrderList, builder::OrderTestBuilder},
        types::Quantity,
    };
    use rstest::rstest;

    use super::*;
    use crate::common::{
        consts::{BYBIT_CLIENT_ID, BYBIT_VENUE},
        enums::BybitMarketUnit,
    };

    fn test_execution_client() -> (BybitExecutionClient, Rc<RefCell<Cache>>) {
        let cache = Rc::new(RefCell::new(Cache::default()));
        let core = ExecutionClientCore::new(
            TraderId::from("TESTER-001"),
            *BYBIT_CLIENT_ID,
            *BYBIT_VENUE,
            OmsType::Netting,
            AccountId::from("BYBIT-001"),
            AccountType::Margin,
            None,
            cache.clone(),
        );
        let config = BybitExecutionClientConfig {
            api_key: Some("test_key".to_string()),
            api_secret: Some("test_secret".to_string()),
            ..Default::default()
        };

        (BybitExecutionClient::new(core, config).unwrap(), cache)
    }

    async fn wait_for_spawned_tasks(client: &BybitExecutionClient) {
        for _ in 0..20 {
            if client.pending_tasks.all_finished() {
                return;
            }

            tokio::time::sleep(Duration::from_millis(25)).await;
        }

        panic!("timed out waiting for spawned Bybit execution tasks");
    }

    fn assert_next_submitted(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
        client_order_id: ClientOrderId,
    ) {
        let event = rx.try_recv().expect("expected OrderSubmitted event");
        assert!(
            matches!(event, ExecutionEvent::Order(OrderEventAny::Submitted(ref submitted)) if submitted.client_order_id == client_order_id),
            "expected OrderSubmitted for {client_order_id}, was {event:?}",
        );
    }

    fn assert_next_rejected(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
        client_order_id: ClientOrderId,
    ) {
        let event = rx.try_recv().expect("expected OrderRejected event");
        assert!(
            matches!(event, ExecutionEvent::Order(OrderEventAny::Rejected(ref rejected))
                if rejected.client_order_id == client_order_id),
            "expected OrderRejected for {client_order_id}, was {event:?}",
        );
    }

    fn assert_next_cancel_rejected(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
        client_order_id: ClientOrderId,
    ) {
        let event = rx.try_recv().expect("expected OrderCancelRejected event");
        assert!(
            matches!(event, ExecutionEvent::Order(OrderEventAny::CancelRejected(ref rejected))
                if rejected.client_order_id == client_order_id),
            "expected OrderCancelRejected for {client_order_id}, was {event:?}",
        );
    }

    fn assert_next_modify_rejected(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
        client_order_id: ClientOrderId,
    ) {
        let event = rx.try_recv().expect("expected OrderModifyRejected event");
        assert!(
            matches!(event, ExecutionEvent::Order(OrderEventAny::ModifyRejected(ref rejected))
                if rejected.client_order_id == client_order_id),
            "expected OrderModifyRejected for {client_order_id}, was {event:?}",
        );
    }

    fn assert_no_order_cancel_rejected(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
    ) {
        while let Ok(event) = rx.try_recv() {
            assert!(
                !matches!(
                    event,
                    ExecutionEvent::Order(OrderEventAny::CancelRejected(_))
                ),
                "unexpected OrderCancelRejected event: {event:?}",
            );
        }
    }

    fn assert_no_order_modify_rejected(
        rx: &mut tokio::sync::mpsc::UnboundedReceiver<ExecutionEvent>,
    ) {
        while let Ok(event) = rx.try_recv() {
            assert!(
                !matches!(
                    event,
                    ExecutionEvent::Order(OrderEventAny::ModifyRejected(_))
                ),
                "unexpected OrderModifyRejected event: {event:?}",
            );
        }
    }

    fn cancel_command(client_order_id: ClientOrderId) -> CancelOrder {
        CancelOrder::new(
            TraderId::from("TESTER-001"),
            Some(*BYBIT_CLIENT_ID),
            StrategyId::from("S-001"),
            InstrumentId::from("BTCUSDT-LINEAR.BYBIT"),
            client_order_id,
            Some(VenueOrderId::from("venue-cancel-1")),
            UUID4::new(),
            UnixNanos::default(),
            None,
            None,
        )
    }

    fn modify_command(client_order_id: ClientOrderId, params: Option<Params>) -> ModifyOrder {
        ModifyOrder::new(
            TraderId::from("TESTER-001"),
            Some(*BYBIT_CLIENT_ID),
            StrategyId::from("S-001"),
            InstrumentId::from("BTCUSDT-LINEAR.BYBIT"),
            client_order_id,
            Some(VenueOrderId::from("venue-modify-1")),
            Some(Quantity::from("1")),
            Some(Price::from("10001.00")),
            None,
            UUID4::new(),
            UnixNanos::default(),
            params,
            None,
        )
    }

    #[rstest]
    fn test_cancel_http_failure_classification_matches_policy() {
        let venue_reject = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 110001,
            message: "Order does not exist".to_string(),
        });
        assert_eq!(
            classify_cancel_http_failure(&venue_reject),
            CommandFailure::VenueRejected(venue_reject.to_string()),
        );

        let rate_limit = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 10006,
            message: "Too many visits".to_string(),
        });
        assert_eq!(
            classify_cancel_http_failure(&rate_limit),
            CommandFailure::VenueRejected(rate_limit.to_string()),
        );

        let post_lookup = anyhow::Error::from(BybitCancelOrderError::PostCancelLookup {
            source: anyhow::anyhow!("history lookup failed"),
        });
        assert_eq!(
            classify_cancel_http_failure(&post_lookup),
            CommandFailure::Ambiguous(post_lookup.to_string()),
        );

        let transport = anyhow::Error::from(BybitHttpError::NetworkError(
            "connection closed".to_string(),
        ));
        assert_eq!(
            classify_cancel_http_failure(&transport),
            CommandFailure::Ambiguous(transport.to_string()),
        );
    }

    #[rstest]
    fn test_modify_http_failure_classification_matches_policy() {
        let venue_reject = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 110003,
            message: "Order price exceeds allowable range".to_string(),
        });
        assert_eq!(
            classify_modify_http_failure(&venue_reject),
            CommandFailure::VenueRejected(venue_reject.to_string()),
        );

        let server_error = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 10016,
            message: "Server error".to_string(),
        });
        assert_eq!(
            classify_modify_http_failure(&server_error),
            CommandFailure::Ambiguous(server_error.to_string()),
        );

        let post_lookup = anyhow::Error::from(BybitModifyOrderError::PostModifyLookup {
            source: anyhow::anyhow!("realtime lookup failed"),
        });
        assert_eq!(
            classify_modify_http_failure(&post_lookup),
            CommandFailure::Ambiguous(post_lookup.to_string()),
        );

        let status = anyhow::Error::from(BybitHttpError::UnexpectedStatus {
            status: 503,
            body: "service unavailable".to_string(),
        });
        assert_eq!(
            classify_modify_http_failure(&status),
            CommandFailure::Ambiguous(status.to_string()),
        );
    }

    #[rstest]
    #[tokio::test]
    async fn test_ws_cancel_queue_failure_emits_cancel_rejected() {
        let (mut client, _cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);
        client.ws_trade.close().await.unwrap();
        let client_order_id = ClientOrderId::from("O-CANCEL-WS-FAIL");

        client
            .cancel_order(cancel_command(client_order_id))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        assert_next_cancel_rejected(&mut rx, client_order_id);
    }

    #[rstest]
    #[tokio::test]
    async fn test_ws_modify_queue_failure_emits_modify_rejected() {
        let (mut client, _cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);
        client.ws_trade.close().await.unwrap();
        let client_order_id = ClientOrderId::from("O-MODIFY-WS-FAIL");

        client
            .modify_order(modify_command(client_order_id, None))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        assert_next_modify_rejected(&mut rx, client_order_id);
    }

    #[rstest]
    #[tokio::test]
    async fn test_http_cancel_local_validation_failure_does_not_emit_cancel_rejected() {
        let (mut client, _cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);
        client.config.environment = BybitEnvironment::Demo;

        client
            .cancel_order(cancel_command(ClientOrderId::from(
                "O-CANCEL-LOCAL-VALIDATION",
            )))
            .unwrap();
        wait_for_spawned_tasks(&client).await;

        assert_no_order_cancel_rejected(&mut rx);
    }

    #[rstest]
    #[tokio::test]
    async fn test_modify_local_validation_failure_does_not_emit_modify_rejected() {
        let (mut client, _cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        let mut params = Params::new();
        params.insert("order_iv".to_string(), serde_json::json!({ "bad": true }));

        client
            .modify_order(modify_command(
                ClientOrderId::from("O-MODIFY-LOCAL-VALIDATION"),
                Some(params),
            ))
            .unwrap();

        assert_no_order_modify_rejected(&mut rx);
    }

    #[rstest]
    #[tokio::test]
    async fn test_ws_submit_queue_failure_emits_order_rejected() {
        let (mut client, cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        let client_order_id = ClientOrderId::from("O-WS-SEND-FAIL");
        let instrument_id = InstrumentId::from("BTCUSDT-LINEAR.BYBIT");
        let mut builder = OrderTestBuilder::new(OrderType::Limit);
        let order = builder
            .instrument_id(instrument_id)
            .client_order_id(client_order_id)
            .side(OrderSide::Buy)
            .quantity(Quantity::from("1"))
            .price(Price::from("10000.00"))
            .build();
        let init = order.init_event().clone();
        let trader_id = order.trader_id();
        let strategy_id = order.strategy_id();

        cache
            .borrow_mut()
            .add_order(order, None, Some(*BYBIT_CLIENT_ID), false)
            .unwrap();

        let command = SubmitOrder::new(
            trader_id,
            Some(*BYBIT_CLIENT_ID),
            strategy_id,
            instrument_id,
            client_order_id,
            init,
            None,
            None,
            None,
            UUID4::new(),
            UnixNanos::default(),
            None, // correlation_id
        );

        client.submit_order(command).unwrap();

        assert_next_submitted(&mut rx, client_order_id);
        wait_for_spawned_tasks(&client).await;

        assert!(
            !client
                .dispatch_state
                .order_identities
                .contains_key(&client_order_id)
        );
        assert!(
            !client
                .dispatch_state
                .order_snapshots
                .contains_key(&client_order_id)
        );
        assert_next_rejected(&mut rx, client_order_id);
    }

    #[rstest]
    #[tokio::test]
    async fn test_ws_submit_order_list_queue_failure_emits_order_rejected() {
        let (mut client, cache) = test_execution_client();
        let (tx, mut rx) = tokio::sync::mpsc::unbounded_channel();
        client.emitter.set_sender(tx);

        let instrument_id = InstrumentId::from("BTCUSDT-LINEAR.BYBIT");
        let strategy_id = StrategyId::from("S-001");
        let client_order_id_1 = ClientOrderId::from("O-WS-LIST-SEND-FAIL-1");
        let client_order_id_2 = ClientOrderId::from("O-WS-LIST-SEND-FAIL-2");

        let mut builder_1 = OrderTestBuilder::new(OrderType::Limit);
        let order_1 = builder_1
            .strategy_id(strategy_id)
            .instrument_id(instrument_id)
            .client_order_id(client_order_id_1)
            .side(OrderSide::Buy)
            .quantity(Quantity::from("1"))
            .price(Price::from("10000.00"))
            .build();
        let init_1 = order_1.init_event().clone();
        let trader_id = order_1.trader_id();

        let mut builder_2 = OrderTestBuilder::new(OrderType::Limit);
        let order_2 = builder_2
            .strategy_id(strategy_id)
            .instrument_id(instrument_id)
            .client_order_id(client_order_id_2)
            .side(OrderSide::Sell)
            .quantity(Quantity::from("1"))
            .price(Price::from("10001.00"))
            .build();
        let init_2 = order_2.init_event().clone();

        cache
            .borrow_mut()
            .add_order(order_1, None, Some(*BYBIT_CLIENT_ID), false)
            .unwrap();
        cache
            .borrow_mut()
            .add_order(order_2, None, Some(*BYBIT_CLIENT_ID), false)
            .unwrap();

        let order_list = OrderList::new(
            OrderListId::from("OL-WS-SEND-FAIL"),
            instrument_id,
            strategy_id,
            vec![client_order_id_1, client_order_id_2],
            UnixNanos::default(),
        );
        let command = SubmitOrderList::new(
            trader_id,
            Some(*BYBIT_CLIENT_ID),
            strategy_id,
            order_list,
            vec![init_1, init_2],
            None,
            None,
            None,
            UUID4::new(),
            UnixNanos::default(),
            None, // correlation_id
        );

        client.submit_order_list(command).unwrap();

        assert_next_submitted(&mut rx, client_order_id_1);
        assert_next_submitted(&mut rx, client_order_id_2);
        wait_for_spawned_tasks(&client).await;

        for client_order_id in [client_order_id_1, client_order_id_2] {
            assert!(
                !client
                    .dispatch_state
                    .order_identities
                    .contains_key(&client_order_id)
            );
            assert!(
                !client
                    .dispatch_state
                    .order_snapshots
                    .contains_key(&client_order_id)
            );
            assert_next_rejected(&mut rx, client_order_id);
        }
    }

    fn sample_order_status_report(
        client_order_id: ClientOrderId,
        instrument_id: InstrumentId,
        order_status: OrderStatus,
        venue_position_id: Option<PositionId>,
    ) -> OrderStatusReport {
        let mut report = OrderStatusReport::new(
            AccountId::from("BYBIT-001"),
            instrument_id,
            Some(client_order_id),
            VenueOrderId::from("BYBIT-ORDER-001"),
            OrderSide::Buy.into(),
            OrderType::Limit,
            TimeInForce::Gtc,
            order_status,
            Quantity::from("1"),
            Quantity::from("0"),
            UnixNanos::default(),
            UnixNanos::default(),
            UnixNanos::default(),
            None,
        );
        report.venue_position_id = venue_position_id;
        report
    }

    #[rstest]
    fn test_cache_reconciliation_order_identity_caches_and_clears_hedge_report() {
        let (client, cache) = test_execution_client();
        let client_order_id = ClientOrderId::from("O-HEDGE-RECON");
        let instrument_id = InstrumentId::from("BTCUSDT-LINEAR.BYBIT");
        let venue_position_id = PositionId::from("BTCUSDT-LINEAR.BYBIT-LONG");
        let mut builder = OrderTestBuilder::new(OrderType::Limit);
        let order = builder
            .instrument_id(instrument_id)
            .client_order_id(client_order_id)
            .side(OrderSide::Buy)
            .quantity(Quantity::from("1"))
            .price(Price::from("10000.00"))
            .build();
        cache
            .borrow_mut()
            .add_order(order.clone(), None, None, false)
            .unwrap();

        let report = sample_order_status_report(
            client_order_id,
            instrument_id,
            OrderStatus::Accepted,
            Some(venue_position_id),
        );
        client.cache_reconciliation_order_identity(&report);

        {
            let identity = client
                .dispatch_state
                .order_identities
                .get(&client_order_id)
                .unwrap();
            assert_eq!(identity.instrument_id, instrument_id);
            assert_eq!(identity.strategy_id, order.strategy_id());
            assert_eq!(identity.order_side, order.order_side());
            assert_eq!(identity.order_type, order.order_type());
            assert_eq!(identity.venue_position_id, Some(venue_position_id));
        }

        let terminal_report = sample_order_status_report(
            client_order_id,
            instrument_id,
            OrderStatus::Filled,
            Some(venue_position_id),
        );
        client.cache_reconciliation_order_identity(&terminal_report);

        assert!(
            client
                .dispatch_state
                .order_identities
                .get(&client_order_id)
                .is_none()
        );
    }

    #[rstest]
    fn test_cache_reconciliation_order_identity_keeps_one_way_local_report() {
        let (client, cache) = test_execution_client();
        let client_order_id = ClientOrderId::from("O-ONEWAY-RECON");
        let instrument_id = InstrumentId::from("BTCUSDT-LINEAR.BYBIT");
        let mut builder = OrderTestBuilder::new(OrderType::Limit);
        let order = builder
            .instrument_id(instrument_id)
            .client_order_id(client_order_id)
            .side(OrderSide::Buy)
            .quantity(Quantity::from("1"))
            .price(Price::from("10000.00"))
            .build();
        cache
            .borrow_mut()
            .add_order(order, None, None, false)
            .unwrap();

        let report =
            sample_order_status_report(client_order_id, instrument_id, OrderStatus::Accepted, None);
        client.cache_reconciliation_order_identity(&report);

        let identity = client
            .dispatch_state
            .order_identities
            .get(&client_order_id)
            .unwrap();
        assert_eq!(identity.instrument_id, instrument_id);
        assert_eq!(identity.venue_position_id, None);
    }

    #[rstest]
    #[case::spot_market_base(
        BybitProductType::Spot,
        BybitOrderType::Market,
        false,
        Some(BybitMarketUnit::BaseCoin)
    )]
    #[case::spot_market_quote(
        BybitProductType::Spot,
        BybitOrderType::Market,
        true,
        Some(BybitMarketUnit::QuoteCoin)
    )]
    #[case::spot_limit(BybitProductType::Spot, BybitOrderType::Limit, true, None)]
    #[case::linear_market(BybitProductType::Linear, BybitOrderType::Market, true, None)]
    fn test_ws_params_market_unit(
        #[case] product_type: BybitProductType,
        #[case] order_type: BybitOrderType,
        #[case] is_quote_quantity: bool,
        #[case] expected: Option<BybitMarketUnit>,
    ) {
        let params = BybitWsPlaceOrderParams {
            category: product_type,
            symbol: ustr::Ustr::from("BTCUSDT"),
            side: BybitOrderSide::Buy,
            order_type,
            qty: "1.0".to_string(),
            is_leverage: None,
            market_unit: spot_market_unit(product_type, order_type, is_quote_quantity),
            price: None,
            time_in_force: None,
            order_link_id: None,
            reduce_only: None,
            close_on_trigger: None,
            trigger_price: None,
            trigger_by: None,
            trigger_direction: None,
            tpsl_mode: None,
            take_profit: None,
            stop_loss: None,
            tp_trigger_by: None,
            sl_trigger_by: None,
            sl_trigger_price: None,
            tp_trigger_price: None,
            sl_order_type: None,
            tp_order_type: None,
            sl_limit_price: None,
            tp_limit_price: None,
            order_iv: None,
            mmp: None,
            position_idx: None,
            bbo_side_type: None,
            bbo_level: None,
        };

        assert_eq!(params.market_unit, expected);
    }

    #[rstest]
    #[case::market(OrderType::Market, BybitOrderType::Market, false)]
    #[case::limit(OrderType::Limit, BybitOrderType::Limit, false)]
    #[case::stop_market(OrderType::StopMarket, BybitOrderType::Market, true)]
    #[case::stop_limit(OrderType::StopLimit, BybitOrderType::Limit, true)]
    #[case::market_if_touched(OrderType::MarketIfTouched, BybitOrderType::Market, true)]
    #[case::limit_if_touched(OrderType::LimitIfTouched, BybitOrderType::Limit, true)]
    fn test_map_order_type(
        #[case] input: OrderType,
        #[case] expected_type: BybitOrderType,
        #[case] expected_conditional: bool,
    ) {
        let (bybit_type, is_conditional) = BybitExecutionClient::map_order_type(input).unwrap();
        assert_eq!(bybit_type, expected_type);
        assert_eq!(is_conditional, expected_conditional);
    }

    #[rstest]
    fn test_map_order_type_rejects_trailing_stop() {
        BybitExecutionClient::map_order_type(OrderType::TrailingStopMarket).unwrap_err();
    }

    #[rstest]
    #[case::linear("BTCUSDT-LINEAR", true)]
    #[case::inverse("BTCUSD-INVERSE", true)]
    #[case::spot("BTCUSDT-SPOT", false)]
    #[case::option("BTC-30JUN25-100000-C-OPTION", false)]
    fn test_parse_derivative_symbol_filters_product_type(
        #[case] symbol_str: &str,
        #[case] keeps: bool,
    ) {
        let result = BybitExecutionClient::parse_derivative_symbol(symbol_str);
        assert_eq!(result.is_some(), keeps);
    }

    #[rstest]
    fn test_parse_derivative_symbol_rejects_malformed() {
        assert!(BybitExecutionClient::parse_derivative_symbol("not-a-real-symbol").is_none());
    }

    #[rstest]
    #[case::matches_msg("Position mode has not been modified", "110025", true)]
    #[case::matches_code("retCode 110025: noop", "110025", true)]
    #[case::matches_msg_only("Already not been modified", "", true)]
    #[case::wrong_code("retCode 99999: other", "110025", false)]
    #[case::empty_no_modified_msg("retCode 99999", "", false)]
    fn test_is_unchanged_error(#[case] msg: &str, #[case] code: &str, #[case] expected: bool) {
        let err = anyhow::anyhow!("{msg}");
        assert_eq!(
            BybitExecutionClient::is_unchanged_error(&err, code),
            expected
        );
    }

    #[rstest]
    #[case::matches("Margin needs to be equal to or greater than 0.5", true)]
    #[case::no_match("Some other error", false)]
    fn test_is_low_margin_error(#[case] msg: &str, #[case] expected: bool) {
        let err = anyhow::anyhow!("{msg}");
        assert_eq!(BybitExecutionClient::is_low_margin_error(&err), expected);
    }

    #[rstest]
    fn test_submit_rejection_reason_matches_confirmed_rejection() {
        let err = anyhow::Error::from(BybitSubmitOrderError::Rejected {
            reason: "EC_PostOnlyWillTakeLiquidity".to_string(),
        });

        assert_eq!(
            submit_rejection_reason(&err),
            Some("EC_PostOnlyWillTakeLiquidity"),
        );
    }

    #[rstest]
    fn test_submit_rejection_reason_ignores_post_submit_lookup_failure() {
        let err = anyhow::Error::from(BybitSubmitOrderError::PostSubmitLookup {
            source: anyhow::Error::from(BybitHttpError::BybitError {
                error_code: 110017,
                message: "current position is zero, cannot fix reduce-only order qty".to_string(),
            }),
        })
        .context("Submit order failed");

        assert_eq!(submit_rejection_reason(&err), None);
    }

    #[rstest]
    fn test_submit_rejection_reason_ignores_missing_order_id() {
        let err = anyhow::Error::from(BybitSubmitOrderError::MissingOrderId);

        assert_eq!(submit_rejection_reason(&err), None);
    }

    #[rstest]
    fn test_submit_rejection_reason_matches_venue_http_error() {
        let err = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 110017,
            message: "current position is zero, cannot fix reduce-only order qty".to_string(),
        });

        assert_eq!(
            submit_rejection_reason(&err),
            Some("current position is zero, cannot fix reduce-only order qty"),
        );
    }

    #[rstest]
    fn test_submit_rejection_reason_ignores_ambiguous_http_error() {
        let err = anyhow::Error::from(BybitHttpError::BybitError {
            error_code: 10016,
            message: "rate limit exceeded".to_string(),
        });

        assert_eq!(submit_rejection_reason(&err), None);
    }
}