Time In Force (TIF)
Time In Force orders
Time In Force orders expire after a set amount of seconds. This provides security and confidence to market makers that stale or miss-priced orders will not get left on the order book in event of network degradation or any other issue. "placePerpOrder2" accepts an "expiryTimestamp" input which cancels an order after "n" seconds if it has not been executed. Time In Force orders are available in client, Mango Bowl, Python Explorer, and REST/WebSocket APIs. More information on these services is in Developer Resources.
The time on the validator is used to determine if a TIF order has expired.
When retrieving the current cluster time, be sure to use the "Processed" commitment level. **Solana Explorer reports the cluster time using the "Finalised" commitment level, which is slightly different.