Order types

There are two ways to buy or sell perpetual swaps on the DerivaDEX exchange. DerivaDEX supports limit and market orders. Understanding these types of transactions will help you be a successful trader.

Market Orders

Use this type of order when you are interested in executing a trade on a given market for a specific quantity irrespective of price. The best available prices will be given to you upon execution, and any unmatched quantity will be canceled.

Market Buy Order

buy a specific quantity of perpetual contracts at any price level.

• The matching engine will match this order against existing ask (sell) orders in the order book, starting with the most favorable ones (i.e., lowest-priced sell orders).

• Any unmatched amount is cancelled.

Market Sell Order

sell a specific quantity of perpetual contracts at any price level

• The matching engine will match this order against existing bid (buy) orders in the order book, starting with the most favorable ones (i.e., highest-priced buy orders).

• Any unmatched amount is cancelled.

Getting started

Limit Orders

Use this type of order when you are interested in executing a trade on a given market for a specific quantity, with a limit to how unfavorable of a price you are willing to go (i.e., the highest price you are willing to buy for in the case of a bid (buy) or the lowest you are willing to sell for in the case of an ask (sell). In the case of a match, the best available prices will be given to you upon execution, and any unmatched quantity will be posted to the order book.

Limit Buy Order

buy a specific quantity of perpetual contracts with a ceiling (maximum) price level.

• The matching engine will match this order against any existing ask (sell) orders in the order book that are at any price less than or equal to the incoming limit order's price, starting with the most favorable ones (i.e., lowest-priced sell orders).

• Any left-over amount that went unmatched will be posted to the order book as a bid at the price level specified in the limit order.

Limit Sell Order

sell a specific quantity of perpetual contracts with a floor (minimum) price level.

• The matching engine will match this order against any existing bid (buy) orders in the order book that are at any price greater than or equal to the incoming limit order's price, starting with the most favorable ones (i.e., highest-priced buy orders).

• Any left-over amount that went unmatched will be posted to the order book as an ask at the price level specified in the limit order.

Self Match Prevention

This safeguard makes it so you cannot trade with yourself. Limit and market orders will be filled as much as they can until they would otherwise inflict a self-match, at which point the remainder of the incoming order will be canceled. The existing order in the book will remain intact.

Getting started