Contract Trading Order Types

Currently, ALL IN USDT contract trading order types are divided into 3 categories:

Market Order, Limit Order, Conditional Order

1. Market Order

A market order is when users buy or sell immediately at the current best market price to achieve a quick transaction.

Note:

1. The total amount for a single market order cannot exceed $100,000 USDT. If the total amount for a single market order exceeds $100,000 USDT, the order will fail.

2. Different contracts have different limits for single market order quantities (this limit will be adjusted according to market changes).

Example:

Assuming the current BTC latest transaction price is $26,000 USDT, if a user wants to quickly buy BTC at market price, they can choose a market order and specify the purchase quantity. After placing the order, it will be immediately executed (it may not be immediately executed in extreme market conditions), and the average execution price will be around $26,000 USDT.

2. Limit Order

Users need to specify the price and quantity for placing an order. A limit order sets the highest price the user is willing to buy or the lowest price they are willing to sell. After setting a limit price, the system will match the order according to the price priority and time priority rules; if the user’s buy price is higher than the market price or the sell price is lower than the market price, the market will prioritize execution at a price favorable to the user. Both opening and closing positions can use limit orders.

Limit orders can be configured between two activation mechanisms:

1. Post Only: By default, "Post Only" ensures that the order will not be executed immediately on the market, guaranteeing that the user remains the Maker. If the order would immediately match with existing orders in the market, it will be canceled.

2. Immediate Or Cancel (IOC): If the user selects "Immediate Or Cancel (IOC)" for the order quantity, any unfilled portion of the order will be immediately canceled.

3. Conditional Order

A conditional order refers to setting a trigger condition along with the order price and quantity. When the latest market price reaches the trigger condition, the system will place an order according to the pre-set price and quantity (i.e., limit order).

Parameters:

• Trigger Price: When the latest transaction price reaches the set trigger price, it triggers the order and places the order.

• Quantity: The "order quantity" for the conditional order once triggered.

Notes:

1. Only contracts in a trading state can place conditional orders.

2. The order quantity must meet the conditional order quantity limits for the corresponding contract.

3. Conditional orders will not freeze the user’s collateral or position before being triggered. Only when the conditional order is triggered and placed according to the pre-set price and quantity, will it freeze the collateral or position.

4. If the available quantity for closing is less than the order quantity when a conditional order to close is triggered, the system will place the order based on the actual available closing quantity. In cases of significant market fluctuations or rapid price movements, the conditional order might fail to trigger or fail after triggering.

5. Conditional orders are not guaranteed to trigger. They might fail due to price limits, order quantity limits, position limits, insufficient collateral, non-trading contract status, network issues, system issues, etc.

6. When a conditional order triggers, it will be placed according to the pre-set order price. However, if the order price exceeds the current limit price (buy price higher than the highest bid, or sell price lower than the lowest ask), the order will fail.

7. A successfully triggered limit order is similar to a standard limit order and will be placed according to the pre-set price but may not be filled. A limit order means that if the sell limit price is lower than the current market price, it will execute at the best market price; if the buy limit price is higher than the current market price, it will execute at the best market price. The order cannot be guaranteed to be filled and depends entirely on the market conditions at the time.