Limit Orders allow users to trade cryptocurrencies at specific prices rather than executing immediately at the current market price. This feature gives traders precise control over their entries and exits, improves fee efficiency, and enables better trade planning.
How Limit Orders Work
A Limit Order is an instruction to:
- Buy at a price equal to or lower than your specified price
- Sell at a price equal to or higher than your specified price
The order remains active until it is fully executed or canceled. Limit Orders are Good Till Cancelled (GTC) by default.
BBO (Best Bid & Best Offer) Integration
- Best Bid: Highest price buyers are willing to pay
- Best Ask (Offer): Lowest price sellers are willing to accept
Flipster allows you to quickly set your Limit Order near the best market price using the BBO button:
- Buy Limit - autofills with Best Ask
- Sell Limit - autofills with Best Bid
Note: Using BBO may result in taker fees if the order executes immediately. Otherwise, if it waits in the order book, maker fees apply.
Placing a Limit Order
- Select the Limit Order option in the order type selector.
- Enter the Price you want to trade at.
- Set the leverage.
- Enter the Position Size or Margin.
5. (Optional) Toggle Reduce-Only if you want to close part of a position (only available in one-way mode).
6. (Optional) Use the BBO button to auto-fill a price near the current market.
7. Confirm your order.
Your order will sit in the order book until the market reaches your price.
Order Execution & Partial Fills
- Limit Orders may execute immediately if there is liquidity at your price (taker fee).
- If there isn’t enough liquidity, your order may be partially filled, with the remaining quantity waiting in the order book (maker fee).
- Flipster notifies you of partial or full fills through in-app and push notifications.
Example 1: Buy Limit Order
BTCUSDT Order Book:
- Best Ask: 62,000
- Best Bid: 61,998
You place a Buy Limit at 61,500.
- Your order will remain open until sellers offer BTC at 61,500 or lower.
- If only part of your order is filled, the rest stays active in the book.
Example 2: Sell Limit Order
ETHUSDT Order Book:
- Best Ask: 3,150
- Best Bid: 3,148
You place a Sell Limit at 3,180.
- Your order will remain open until buyers bid 3,180 or higher.
- Partial fills may occur if available volume is limited.
Example 3: Using BBO
- Best Ask: 1.2050
- Best Bid: 1.2048
You tap BBO when placing a Buy Limit, the price auto-fills to 1.2050.
- If liquidity exists at that price, the order fills immediately (taker fee).
If not, the order waits in the order book (maker fee).
Managing Open Limit Orders
From the Open Orders section, you can:
- Modify price or quantity
- Cancel unfilled orders
- Track partial fills and execution progress
View symbol, side, limit price, quantity, and fee type
Fees for Limit Orders
- Maker fee: Applied when your Limit Order adds liquidity (sits in the book).
- Taker fee: Applied when your Limit Order executes immediately against existing orders at the BBO.
Tip: Placing a Limit Order slightly away from the BBO usually qualifies for maker fees.
Key Points to Remember
- Limit Orders may not fill immediately
- Execution depends on the market reaching your price
- Partial fills can occur if liquidity is limited
- The BBO button helps place orders near the best market price
- Fees depend on whether your order adds or removes liquidity
Risk Warning:
Trading in cryptocurrency involves risk and potential losses. Before trading, please make your investment decisions cautiously by considering your investment objectives, experience, and risk tolerance. You are solely responsible for your investment decisions, and Flipster is not liable for any losses you may incur. Derivatives trading, in particular, is subject to high market risk and price volatility. Please obtain independent advice where appropriate. This information should not be construed as financial or investment advice.