What Is a Limit Order in Spot?

1. What Is a Limit Order?

A limit order refers to a user-defined order in which they specify the quantity and maximum bid or minimum ask price. The order will only be executed when the market price falls within the designated price range.

Note:

1) The buy limit price must not exceed 110% of the last price. The limit sell price must not be less than 90% of the last price.

2) The actual filled price for a limit buy order may be equal to or less than the order price, but will not exceed it. Conversely, for a limit sell order, the actual filled price will be equal to or greater than the order price but will not fall below it.

2. Limit Buy Order (Take the ETH/USDT Pair as an Example)

The last ETH price is 2,698 USDT. If you wish to buy 1 ETH when the price falls to 2,500 USDT, at this time, you can place a limit order. Click ‘Limit’ on the trading page and set the price and amount fields to 2,500 and 1, respectively. After confirmation, click ‘Buy ETH’.

Once an order is successfully placed, it enters the market for execution. The system matches orders based on price priority, followed by time. If the limit buy order price is higher than the current market price, the order may be filled immediately. You can view the actual fill price in the “Average Price” column under the ‘Order History’ section.

The limit buy price cannot be higher than 110% of the last price. Otherwise, the limit order cannot be placed.

3. Limit Sell Order (Take the ETH/USDT Pair as an Example)

The last ETH price is 2,697 USDT. If you wish to sell 1 ETH when the price rises to 2,800 USDT, at this time, you can place a limit order. Click ‘Limit’ on the trading page and set the price and amount fields to 2,800 and 1, respectively. After confirmation, click ‘Sell ETH’.

Once an order is successfully placed, it enters the market for execution. The system matches orders based on price priority, followed by time priority. If the limit sell order price is below the current market price, the order may be executed immediately. You can view the actual execution price in the ‘Average Price’ field under the ‘Order History’ section.

The limit sell price cannot be lower than 90% of the last price. Otherwise, the limit order cannot be placed.