Order Types
OrangeBit supports comprehensive order parameters to enable precise, efficient, and flexible trading:
Price Tick Size: The minimum increment by which the price of a trading instrument can change.
Order Size Increment: The minimum step by which the quantity of an order may increase or decrease, specified in base currency units.
Minimum Order Value: The smallest acceptable notional value of an order to ensure efficient execution and on-chain settlement.
Maximum Order Size: The upper limit on the number of contracts or asset quantity that may be submitted in a single order.
Maximum Open Orders: A cap on the number of concurrent open orders a trader may maintain, designed to optimise system performance and risk control.
Supported Order Types
Traders on OrangeBit may create the following order types:
Limit Order: An instruction to buy or sell at a specified price or better. Provides precise price control but does not guarantee execution if the market does not reach the specified level.
Market Order: An instruction to buy or sell immediately at the best available price. Prioritises speed of execution over price precision.
Stop Order (Trigger Order): An instruction to activate a market or limit order once a specific trigger price is reached—used for stop-loss or take-profit strategies.
Scaled Order: An algorithmic order type that breaks a large position into multiple smaller orders across a price range to reduce market impact.
TWAP Order (Time-Weighted Average Price): An algorithmic order type that executes a large order over a specified time period in discrete intervals, optimising average entry/exit price.
Order Instructions
In addition to order types, OrangeBit supports advanced order instructions for greater control and strategy refinement:
Post-Only: Ensures the order only rest on the order book as a maker; if it would immediately match as a taker, it is cancelled instead—allowing the trader to benefit from lower maker fees.
Reduce-Only: Ensures the order only reduces or closes an existing position and does not increase exposure. Useful for locking in profit or cutting loss without increasing risk.
Good-Till-Cancelled (GTC): The order remains active until it is either executed or cancelled by the trader. Suitable for users with long-horizon price targets.
Immediate-Or-Cancel (IOC): The order attempts immediate execution; any portion not immediately filled is cancelled. Ideal for execution urgency with price fluidity constraints.
OrangeBit’s order framework combines a rich variety of order types and instructions—ranging from basic limit and market orders to advanced TWAP and scaled orders—with flexible instruction parameters. This empowers both novice traders seeking simplicity and professional traders requiring algorithmic precision. The entire architecture aligns with OrangeBit’s underlying hybrid model of off-chain matching and on-chain settlement—delivering speed, control, transparency, and user sovereignty.
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