Order Types

There are currently two order types available to users of DeversiFi; Limit Order and Simple Order.

Limit Order

The Trader specifies the exact price and quantity they wish to buy or sell at. The order is then only successful if that specific price is met.

Example:

Imagine you have 10 ETH and you want to sell all of them. The current market price for ETH is $300 but you are only happy selling them for no less than $320. Using a limit order, you would set the price to $320, the amount to 10 ETH and then click submit. Your order will then only be executed if your specific price has been met.

Market Order

A market order is a buy or sell order to be executed immediately at the current market prices. As long as there are willing sellers and buyers, market orders are filled. Market orders are used when certainty of execution is a priority over the price of execution. A market order is the simplest of the order types. When trading illiquid markets market orders can lead to large slippage in price.

Example:

Imagine you have $1000 USD and you want to buy some ETH. The current market price for ETH is $300. After selecting the 'market order’ option from the order form, the system will automatically input the price based on the last best price in the order book. This means you would only need to input the amount you wish to buy (Let’s say $1000 worth) and hit ‘buy’

Hidden order

Your order will not appear on the orderbook, but it will still get executed if matched.

Post-only order

The post-only limit order option ensures the limit order will be added to the order book and not match with a pre-existing order. If your order would cause a match with a pre-existing order, your post-only limit order will be cancelled.

Post-Only Limit Order ensures that you will pay the maker fee and not the taker fee unless matched with a hidden order
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