🚥Order Types

Perpl will support the following order types:

  • Market Order: Executes immediately for the best available price

  • Limit Order: Executes at the specified price or better

  • Stop Market Order: Becomes a market order when the trigger price is reached

  • Stop Limit Order: Becomes a limit order when a trigger price is reached

  • Take Profit Order: Closes a position when a profit target is reached

  • TWAP (coming soon): Time weighted average price, executes large orders over some time, breaking them into smaller, more frequent trades, to minimize the impact on the market price.

Order Options:

  • Good Til Cancel (GTC): An order that rests on the order book until it is filled or canceled

  • Immediate or Cancel (IOC): An order that will be canceled if it is not immediately filled

  • Fill or Kill (FOK): If the full quantity of the order cannot be filled instantly, the order is automatically canceled, preventing any partial or delayed execution

  • Reduce Only: An order that reduces a current position as opposed to opening a new position in the opposite direction. A Reduce Only order can only be placed if there is an existing position.

To learn more about order types, read our blog on perp exchange order types.

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