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Market Order

Executes immediately at the best available price. Walks the book until fully filled or risk limits are reached.

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Limit Order

Rests on the book at a specified price or better. A buy limit fills at the limit price or lower. A sell limit fills at the limit price or higher.

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Time-in-Force

The internal enum uses ALO. The WebSocket account stream emits "postOnly" on the wire. The HTTP API accepts both.

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Reduce-Only

A modifier that ensures the order can only decrease or close an existing position, never open a new one or increase size. If the order would flip the position direction, its size is clamped to close only. Used by the liquidation engine internally and available on any order type.

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Modify Order

Amend the size of a resting limit order. Submitted as a ModifyOrder action referencing the original order ID.
  • Size reduction: Order stays at the same position in the queue. If the new size is less than or equal to the already-filled amount, the order is effectively cancelled.
  • Size increase: Order is moved to the back of the queue at its price level.
Modify does not change the order’s price. To change price, cancel and resubmit.

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Conditional Orders

See Conditional Orders for Stop, Take-Profit, Range, Trigger, Trailing, and On-Fill order types.

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Execution Priority

Within each consensus batch, transactions are deterministically shuffled then separated into priority queues:
  1. Cancels execute first
  2. Post-only (ALO) orders execute second
  3. Regular orders (market, limit GTC/IOC) execute third
This structural priority is independent of shuffle ordering and provides protocol-level fairness guarantees. See Fair Ordering for the full design.