Place an order
Place a market or limit order on a perpetual market, with optional Reduce Only and take-profit / stop-loss.
What is it?
The order form on the right of the trading page opens, adds to or reduces a position. It has two order types:
- Market fills now against the order book. A slippage limit sets the worst price you accept. A market order fills in full or not at all: if the whole size can't fill within your max slippage, it is rejected and nothing trades.
- Limit rests on the book at your price until it fills or you cancel it. Limit orders are good-till-cancelled; there is no post-only or expiry option. A limit price that crosses the book can fill immediately. On perpetual markets, switching to another market clears the limit price, the size and any TP/SL you entered (the TP/SL box is unticked). Leverage and margin mode are kept per market.
These are the only two order types the app offers. It has no stop or trigger orders.
Why would I use it?
- Market: enter or exit a position immediately.
- Limit: choose the exact price you buy or sell at.
- Reduce Only: make sure an order can only shrink your position, never flip or grow it.
- Take Profit / Stop Loss: attach automatic exit prices to a new position.
What do I need?
Until you finish those steps, the submit button reads Connect Wallet, Complete Sign In or Unlock Trading instead of placing an order.
How do I place an order?
- Check margin mode and leverage
The two buttons at the top of the form show the margin mode and leverage for this market. See Leverage and margin mode.
- Choose Market or Limit
Clicking a price in the order book switches the form to Limit and fills in that price.
- Pick a side
Choose Buy / Long to profit if the price rises, or Sell / Short to profit if it falls.
- Enter the size
Type an amount in Size. The unit menu switches between USDC and the market's asset.
The quick buttons (25%, 50%, 75%, MAX) and the slider size the order as a share of what you can trade. Available to Trade shows your available balance; click it to use the maximum.
- Limit orders: set the price
Enter Limit Price, or tap the Mid, Bid or Ask chips. Prices snap to the market's tick size: buy prices round down, sell prices round up.
- Market orders: check the slippage limit
Max slippage defaults to 1%. The presets are 0.5% / 1% / 3%. Open it to see Fills no worse than, the worst price your order may fill at.
- Optional: Reduce Only, TP/SL
- Tick Reduce Only to make the order only reduce your current position.
- Or tick Take Profit / Stop Loss to add exit prices, each entered as a trigger price or as ROE % (the price it stands for is shown). Both legs are optional. The two options can't be combined: ticking Reduce Only hides TP/SL. If an ROE % can't be turned into a valid price, the order is not sent and a TP/SL Error explains why.
How TP/SL from the order form works- It is sized to this order: when it triggers, it closes the order's size, not size you held before.
- When the order adds to an existing position on the same side, it replaces any TP/SL already set on that position. The form warns you: This position already has TP/SL. Setting it here replaces it, sized to this order.
- On a limit order it is sent at once, before the order fills. The form says so: TP/SL is sent as soon as this limit order is placed, not when it fills.
- If a limit order fills only partly, its TP/SL is still sized to the full order. Check or reset TP/SL from the positions table.
- Review and submit
Check Liquidation Price, Order Value, Required Margin and Fees, then press the button (for example Place Buy Order).
Orders on this network are relayed gas-free.
- With One-Click Trading on, orders are signed instantly with no wallet pop-up.
- With it off, your wallet asks you to sign each order.
What should I expect?
- A toast confirms the order, with its size, value, margin mode (Cross or Isolated), the estimated fee when it is known, and a View tx link.
- Market orders fill right away. The position appears under Positions in the bottom panel.
- A limit order that does not fill immediately appears under Orders until it fills or you cancel it.
- When the order fills you get a fill notification (Bid Filled for a buy, Ask Filled for a sell).
What can go wrong?
TP/SL removed — not replaced
Why: Your earlier TP/SL was cancelled, but the new one could not be created, so the position now has no TP/SL.
Press Set TP/SL again in the same dialog, or set TP/SL from the positions table.
Insufficient buying power
Why: The order needs more margin than your available balance at the selected leverage, including fees.
Reduce the size, raise leverage (Leverage and margin), or deposit more.
Min order size is … / Minimum size is … USDC
Why: The order is below the market's minimum size.
Increase the size. The error states the minimum. Market details shows the minimum order value and the size step.
Insufficient market liquidity
Why: The order is bigger than all the resting orders on the other side of the book.
Use a smaller size, or place a Limit order.
Not enough liquidity within your max slippage to fill this order… / The price moved past your max slippage before the order filled…
Why: The full size couldn't fill within Max slippage when the order reached the chain. Nothing was traded.
Try again, reduce the size, or raise Max slippage.
There are no sell orders on the book right now, so a market buy can't fill. Nothing was sent.
Why: The book is empty on the side you need. The mirror message appears for sells.
Nothing was sent and no funds moved. Place a Limit order, or try again later.
Deselect Reduce Only — You cannot create a … order because …
Why: Reduce Only is ticked, but you have no position, or the order is on the same side as your position.
Untick Reduce Only, or switch to the opposite side.
Order Failed toast
Why: The relayer or the chain rejected the order. The toast shows the reason.
Read the message, fix the input it names, and submit again. If the message mentions the wrong network, switch networks when the app asks.
Order placed — TP/SL NOT set
Why: The order went through but the take-profit / stop-loss request failed.
Add TP/SL to the new position from the positions table (Take profit and stop loss).
The submit button is disabled
Why: Your account is being liquidated. New orders are blocked until liquidation finishes.
Wait for the liquidation to finish. See Liquidation.
How do I recover?
- Nothing happened: check the bottom panel. Orders lists resting orders and Positions lists fills. An order that failed validation was never sent, so no funds moved.
- Unexpected position: close it from the positions table (Manage positions).
- Resting limit order you no longer want: cancel it (Open orders).