Perpetual contract trading offers six order types: Market, Limit, Post-Only, Plan, Trail, and TWAP (Time-Weighted Average Price).
A limit order allows you to place an order at a specific price or a better price. However, limit orders are not guaranteed to execute, as they will only be filled when the market reaches your desired price. Buy limit orders will only execute at the limit price or lower, while sell limit orders will only execute at the limit price or higher.
Time-in-force options to specify the order's expiration:
This order must be filled immediately in its entirety; otherwise, it will be canceled.
This order remains active until it is either filled or manually canceled.
This order must be executed immediately at the limit price or a better price; otherwise, it will be canceled.
Ensures your order is posted to the order book without immediate matching, guaranteeing it will only be executed as a maker order.
Dynamically reduces or adjusts the contract quantity of the limit order to ensure your position is not inadvertently increased.
A market order is a buy or sell order that is executed at the best available price in the market upon submission. The execution of a market order depends on available liquidity, meaning the order will be filled based on existing limit orders in the order book.
A plan order involves pre-setting trigger conditions, along with the delegated price and quantity. When the latest market price reaches the trigger condition, the system will place an order based on the pre-set delegated price and quantity.
Functions like a regular limit order, placed at the user's pre-set delegated price. Execution depends entirely on market conditions at the time.
Functions like a regular market order, executed at the current market price. Execution depends entirely on market conditions at the time.
A Post-Only order will not be immediately executed in the market. If the order would immediately match with an existing order, it will be canceled, ensuring the user always acts as the maker.
A trail order is a strategy that places a pre-set order into the market when the price experiences a significant pullback. When the contract market price meets the user-defined activation condition and pullback ratio, the strategy is triggered, and a limit order is placed at the user-specified delegated price.
A TWAP order is an automated tool designed to optimize the average execution price and reduce market impact. It is particularly suitable for traders with large capital who seek steady position building/liquidation or wish to avoid timing risks.
Essentially, it breaks down a large total order into many smaller orders based on your specified time intervals and quantities, which are then submitted to the market in batches continuously for execution.
💡 Think of it as: A future-set, automatically executed "batch position building/liquidation" plan.
The total number of contracts (or coins) you ultimately wish to buy or sell.
Usually "Limit Order" (specified price) or "Market Order" (executed at the current best market price).
• You can specify how many splits the total order should be divided into (e.g., 20 splits), and the system will automatically calculate the quantity for each split.
• Alternatively, you can directly specify the quantity for each individual order (e.g., 2 contracts per order).
The duration between each order submission, such as every 30 seconds, every minute, or every 5 minutes.
The total execution duration of the TWAP strategy or until the total quantity is fully executed.