Order Types
Order Typer sTypes
Limit Orders
A Limit Order executes at your specified price or better. It will not execute at a worse price.
Price Control
You set the exact price; order waits in the book until matched
Execution
Fills when market price reaches your limit price
Fees
Maker fees if resting in book; taker fees if immediately matched
Best For
Precise entry/exit prices; avoiding slippage
Example
You want to buy 1 BTC at $50,000 or lower.
Current market price: $50,200
Your limit order: BUY 1 BTC @ $50,000
Result: Order rests in the order book until BTC drops to $50,000 (or you cancel it)
Market Orders
A Market Order executes immediately at the best available price. Execution price is not guaranteed—you prioritize speed over price.
Speed
Executes instantly (or as fast as liquidity allows)
Price
Takes the best available prices in the order book
Slippage
Protected by 5% slippage tolerance (see Position and Order Limit)
Fees
Always pays taker fees
Best For
Entering/exiting quickly; high-liquidity markets
Execution Options
Both Limit and Market orders support additional execution controls:
Post-Only
Ensures your order only adds liquidity (acts as a maker).
Behavior
If the order would immediately match (take liquidity), it is automatically cancelled
Fees
Guarantees maker fees (never taker fees)
Use Case
When you want to capture maker rebates; algorithmic strategies
⚠️ Note: Post-Only orders may be rejected in volatile markets if they would cross the spread.
Reduce-Only
Ensures your order only closes or reduces an existing position—it cannot open a new position or increase exposure.
Behavior
Order size is capped at your current position size; remainder is cancelled
Direction
Can only reduce position toward zero (not reverse or increase)
Use Case
Taking profits; closing positions without accidentally flipping direction
Time-in-Force
Control how long your order remains active:
Good-Til-Cancel(GTC)）
Order remains active until a specified expiration time, then auto-cancelled
Setting orders overnight; scheduled exits
Immediate-or-Cancel(IOC)
Order executes immediately for whatever quantity is available; unfilled portion is cancelled. Never rests in the order book.
Capturing fleeting opportunities; testing liquidity
Related Pages
How TxFlow matches orders
Maximum leverage by asset and position size
Detailed liquidation mechanics
Trading and funding fees
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