diff --git a/config/config.go b/config/config.go
index 5e14f884553..0ebacc89b3a 100644
--- a/config/config.go
+++ b/config/config.go
@@ -1350,8 +1350,7 @@ func (c *Config) CheckOrderManagerConfig() {
 		c.OrderManager.RespectOrderHistoryLimits = convert.BoolPtr(true)
 	}
 	if c.OrderManager.ActivelyTrackFuturesPositions && c.OrderManager.FuturesTrackingSeekDuration >= 0 {
-		// one isn't likely to have a perpetual futures order open
-		// for longer than a year
+		// one isn't likely to have a perpetual futures order open for longer than a year
 		c.OrderManager.FuturesTrackingSeekDuration = -time.Hour * 24 * 365
 	}
 }
diff --git a/config/versions/v4.go b/config/versions/v4.go
new file mode 100644
index 00000000000..283c21a0e3b
--- /dev/null
+++ b/config/versions/v4.go
@@ -0,0 +1,47 @@
+package versions
+
+import (
+	"context"
+	"errors"
+
+	"github.com/buger/jsonparser"
+)
+
+// Version4 implements ConfigVersion
+type Version4 struct {
+}
+
+func init() {
+	Manager.registerVersion(4, &Version4{})
+}
+
+// defaultConfig contains the stateless V4 representation of orderbookManager
+// Note: Do not be tempted to an constant for Duration. Whilst defaults are still written to config, we need to manage default upgrades discretely
+var defaultConfig = []byte(`{
+  "enabled": true,
+  "verbose": false,
+  "activelyTrackFuturesPositions": true,
+  "futuresTrackingSeekDuration": 31536000000000000,
+  "respectOrderHistoryLimits": true,
+  "cancelOrdersOnShutdown": false
+ }`)
+
+// UpgradeConfig sets OrderManager config to defaults if it doesn't exist, and sets respectOrderHistoryLimits to true if it doesn't exist
+func (v *Version4) UpgradeConfig(_ context.Context, e []byte) ([]byte, error) {
+	_, _, _, err := jsonparser.Get(e, "orderManager") //nolint:dogsled // Ignored return values really not needed
+	switch {
+	case errors.Is(err, jsonparser.KeyPathNotFoundError):
+		return jsonparser.Set(e, defaultConfig, "orderManager")
+	case err == nil:
+		_, err = jsonparser.GetBoolean(e, "orderManager", "respectOrderHistoryLimits")
+		if errors.Is(err, jsonparser.KeyPathNotFoundError) {
+			return jsonparser.Set(e, []byte(`true`), "orderManager", "respectOrderHistoryLimits")
+		}
+	}
+	return e, err
+}
+
+// DowngradeConfig doesn't need to do anything for this version, since it's a lossy downgrade
+func (v *Version4) DowngradeConfig(_ context.Context, e []byte) ([]byte, error) {
+	return e, nil
+}
diff --git a/config/versions/v4_test.go b/config/versions/v4_test.go
new file mode 100644
index 00000000000..1ec59f24fdd
--- /dev/null
+++ b/config/versions/v4_test.go
@@ -0,0 +1,36 @@
+package versions
+
+import (
+	"bytes"
+	"context"
+	"encoding/json"
+	"testing"
+
+	"github.com/stretchr/testify/assert"
+	"github.com/stretchr/testify/require"
+)
+
+func TestVersion4Upgrade(t *testing.T) {
+	t.Parallel()
+
+	out, err := new(Version4).UpgradeConfig(context.Background(), []byte(`{}`))
+	require.NoError(t, err)
+	b := new(bytes.Buffer)
+	require.NoError(t, json.Compact(b, out), "json.Compact must not error")
+	exp := `{"orderManager":{"enabled":true,"verbose":false,"activelyTrackFuturesPositions":true,"futuresTrackingSeekDuration":31536000000000000,"respectOrderHistoryLimits":true,"cancelOrdersOnShutdown":false}}`
+	require.Equal(t, exp, b.String())
+
+	in := []byte(`{"orderManager":{"enabled":false,"verbose":true,"activelyTrackFuturesPositions":true,"futuresTrackingSeekDuration":3600000,"cancelOrdersOnShutdown":false}}`)
+	out, err = new(Version4).UpgradeConfig(context.Background(), in)
+	require.NoError(t, err)
+	exp = `{"orderManager":{"enabled":false,"verbose":true,"activelyTrackFuturesPositions":true,"futuresTrackingSeekDuration":3600000,"cancelOrdersOnShutdown":false,"respectOrderHistoryLimits":true}}`
+	require.Equal(t, exp, string(out))
+}
+
+func TestVersion4Downgrade(t *testing.T) {
+	t.Parallel()
+	in := []byte(`{"orderManager":{"enabled":false,"verbose":true}}`)
+	out, err := new(Version4).DowngradeConfig(context.Background(), in)
+	require.NoError(t, err)
+	assert.Equal(t, string(in), string(out), "Downgrade should not touch the config")
+}