Limit Order
Users set the order quantity and the highest acceptable buy price or lowest acceptable sell price. When the market price meets the user's expectations, the system will execute the trade at the best price within the limit price range.
- Supports single selection of IOC, GTC, or FOK (see "Order Validity Period" below).
- Supports optional "Reduce-Only" (see "Reduce-Only Introduction" below).
- Supports optional "Post Only" (maker-only): This is a limit order that can only be placed as a pending order. Users input the order price and quantity, and if the order can be filled immediately upon placement, it will be canceled. The validity period is GTC.
- Limit Price Protection, based on the trading pair's parameter configuration. For example, if the limit price protection is 5%, then the order price for a long order must be < Mark Price * (1 + 5%), and the order price for a short order must be > Mark Price * (1 - 5%). Orders exceeding the limit price range will be rejected by the system.
Market Order
Users execute a buy or sell order immediately at the current best market price to achieve rapid transaction execution. Users only need to input the order quantity or amount without specifying a price, and the transaction is executed based on the order book prices at that time.
- Supports IOC (Immediate-or-Cancel).
- Supports optional "Reduce-Only."
- Limit Price Protection, consistent with limit orders, based on the trading pair's parameter configuration. For example, if the limit price protection is 5%, then the order price for a long order must be < Mark Price * (1 + 5%), and the order price for a short order must be > Mark Price * (1 - 5%). The system will only seek executable orders within the limit price range. In cases of low market liquidity, market orders may not be fully executed immediately and may remain as pending orders.
Only reduce positions
A reduce-only order can only reduce positions, not increase them, meaning it can only be used to close positions.
- Non-reduce-only orders can reduce or increase positions, meaning they can be used to open or close positions.
- Opening orders are all non-reduce-only orders, and closing orders are all reduce-only orders.
- If the current order is a reduce-only order and would open or increase a position, the order will fail.
Order effective time
- IOC: The order must be filled immediately at the limit price or better. If the order cannot be fully filled immediately, the unfilled portion will be cancelled.
- FOK: When a trader places a FOK order, the exchange will attempt to fill the order immediately and in full under current market conditions. If this cannot be achieved, the entire order will be cancelled, leaving no unfilled portion.
- GTC: The order remains active until fully executed or manually cancelled by the trader.
Order combination
Order Type
Regular Orders: User-traded orders; the transaction destination will be displayed, such as web, iOS, or Android.
ADL Auto-Loss: Orders affected by ADL;
Forced Liquidation: Orders that were forcibly liquidated;
System Cancellation: Orders canceled by the system;
Delivery: Orders settled by the system
Order field diagram:
Trading Pair | Order Time | Direction | Type | Order Price | Order Quantity | Fill Price | Filled Quantity | Reduce Only | Maker Only | Time in Force | Status | Order Kind | Order ID | User | User ID | Account ID |
BTCUSDT Perpetual | 9/30/2025 10:10 | Buy | Limit | 50000 | 1.000BTC | 50000 | 1 | No | No | IOC | Fully Filled | Web | xxx | User1 | xxx | xxx |
BTCUSDT Perpetual | 9/30/2025 10:10 | Buy | Limit | 50000 | 5000.00USDT | 50000 | 1 | No | No | IOC | Fully Filled | Forced Reduction | xxx | User1 | xxx | xxx |
BTCUSDT Perpetual | 9/30/2025 10:10 | Buy | Market | Market | 9950.60USDT | 50003 | 0.199 | No | No | IOC | Fully Filled | Web | xxx | User1 | xxx | xxx |
BTCUSDT Perpetual | 9/30/2025 10:10 | Buy | Market | Market | 0.1BTC | 50003 | 0.1 | No | No | IOC | Fully Filled | Web | xxx | User1 | xxx | xxx |
Take Profit and Stop Loss
Take Profit (TP) and Stop Loss (SL) refer to pre-set trigger prices and order prices. When the latest price reaches the pre-set trigger price, the pre-set order will be submitted to the market at the order price to achieve the effects of take profit/stop loss or chasing rises/falls. Take Profit and Stop Loss are a pair of orders set simultaneously; if one order is triggered and executed, the other order will be automatically canceled.
- Trigger Price The trigger price refers to the condition under which the order is submitted to the market only when the market reaches the trigger price. The trigger price acts as a prerequisite for the order, determining when to place the order. However, whether the order can be fully and effectively executed depends on factors such as the order type, order price, and market volatility.
- Take Profit/Stop Loss for Opening Orders After a user places an opening order, they can set take profit/stop loss on that opening order. Once the opening order is filled, the take profit/stop loss will automatically be linked to the position generated by this order.
- Take Profit/Stop Loss for Positions Users can set take profit/stop loss directly on a position. When the market reaches the trigger price set for take profit/stop loss, a closing order will be automatically triggered.
- Take Profit/Stop Loss Order Invalidation Mechanism If a conditional order that includes take profit/stop loss is canceled, the associated take profit/stop loss orders will also be synchronously canceled. After the market reaches the trigger price and the take profit/stop loss order is triggered, if one side (take profit order or stop loss order) is filled or canceled, the corresponding opposite side (stop loss order or take profit order) will be synchronously canceled.