![]() There’s also a reduce-only option for limit orders, which can be used whenever you want to strictly reduce the size of an open position. You can also prevent a limit order from executing by removing liquidity, or reducing your position size if you used Reduce Only, causing the limit order to fail if the trigger price is reached. As mentioned above, cancellations are done on-chain so you will need to pay a gas fee. If you want to cancel a limit order before it has been executed, then click on "Cancel" and confirm in your wallet. Once a limit order has been executed it will be shown in the fills column and in your transaction history. There are no partial fills with advanced order types and limit orders will either be fully executed or not at all. The execution price of a limit order may differ depending on slippage and execution may depend on liquidity. You do not pay any trading fee until the filing of your limit order. When the mark price (plus price impact) reaches the limit price, the order will be executed and your position will be opened. Once you’ve provided your signature, the order will appear under the Limit Orders tab until it is executed: The submission of the limit order is done off-chain, so you’ll just have to submit a signature from your wallet and there are no gas or trading fees when submitting limit orders. Select from the options from the dropdown menu by clicking on the clock icon (options vary between 5 minutes and one week).Ĭlick on “Confirm Limit Order”. The expiration of the limit order can be modified. Once changing the order type and choosing long or short, you can then enter your limit price in the price field and decide on the position size in the amount field (or via the buying power slider): Limit orders have a minimum position requirement of $100. ![]() If you see Approve Limit Order again, please refresh the page. To start using limit orders, there is a one-time approval that must be completed, where you must approve the LimitOrderBook contract to open positions.Ĭhange order type to "Limit" and click on “Approve Limit Order” as shown below: The off-chain order book will be opened up in the future so that anyone can run their own keeper bot and execute limit orders for traders. Unlike on centralized exchanges, limit orders are automated market orders that use the liquidity provided by makers.Īn off-chain database (LimitOrderBook) stores limit orders, where a keeper bot monitors new limit orders and sends a transaction for you once the trigger condition has been met. Enable more sophisticated trading strategies.An order may not fill if this is the case. During strong price movements, some orders may cause the per-timestamp price change limit to be exceeded.Limit orders with the same trigger price execute in random order (whichever order DynamoDB finds first will trigger first) .Stop-loss limit orders trigger on index price, and then execute as normal limit orders (trigger on mark price).There are no partial fills-an order must be able to fill 100% at the set price.Fill price must equal your trigger price (or better), taking into account price impact -therefore your trigger price appearing on the chart does not guarantee your order will be filled. ![]() Limit orders on Perp are executed as market orders when triggered.Key points to know when using limits & stops: ![]() On the other hand, if you want to open a position at a certain price and you’re not sensitive to the timing, then you should use a limit order. So if you want to quickly get into a position and you’re not sensitive to the price, then a market order is best. It’s important to remember that while market orders prioritize time, limit orders prioritize price. This is different to a market order, which only lets you buy or sell immediately at the best available price. Once the mark price falls and crosses the limit price, you'll automatically buy ETH without having to manually execute the trade. Limit orders use a limit price trigger for market buys or sells at a particular price, allowing you to enter or exit a position at your limit price or better.įor example, if you're bullish on ETH and want to buy at a lower price than it's currently worth, you can submit a limit order to buy 10% lower than the current price. Limit orders can now be submitted through our UI, API, or smart contract. ![]()
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