| Spot Trading | Perpetual Trading |
1. Spot Trading
In both spot and futures trading, you can submit orders to the exchange under various conditions. Examples of these conditions include Limit Order, Market Order, Stop Limit, Stop Market, Post Only, TP/SL, etc.
How to Set Order Types
Spot Trading
In spot trading, you can set the order types to Limit Order, Market Order, Stop Limit, or Stop Market.
Clicking the Limit Order, Market Order, or Stop Limit buttons applies the respective order type.
To set a Stop Market order in spot trading, click Stop Limit and then change it to Market to apply the Stop Market order type.
Futures Trading
In futures trading, you can set the order types to Limit Order, Market Order, Stop Limit, Stop Market, Post Only, Reduce Only, TP/SL, or TIF.
Basic Order Types
1. Limit Order
Used when price priority is more important than execution. You specify the price at which you want to buy or sell. Often referred to as Maker orders.
Orders will not execute at a higher price than the specified buy price or a lower price than the specified sell price.
If a sell order is placed below the current price or a buy order above the current price, it will execute at the market price (Taker fee applies).
Even if the specified price is reached, the order might not be executed due to the matching method (price > time priority).
2. Market Order
Used for immediate execution at the current market price. Executes immediately as a taker order from the order book without specifying the price, only the quantity.
3. Stop Limit
A preset order allows you to set the trigger price, buy/sell price, and quantity in advance.
When the last traded price reaches the trigger price, a limit order is automatically placed.
Example)
BTC = 65,000 USDT
You want to buy BTC at 65,100 USDT when the price exceeds 65,100 USDT.
*Set as follows
Trigger Price : 65,100 USDT
Price : 65,100 USDT
Quantity(Size) : 0.1 BTC
When BTC reaches 65,100 USDT, it will be bought at the specified price and quantity.
4. Stop Market
A preset order allows you to set the trigger price and quantity in advance.
When the last traded price reaches the trigger price, a market order is automatically placed.
As it is a market order, it may execute at a different price due to market volatility (Taker fee applies).
Advanced Order Types for Futures
1. TP/SL Order
TP/SL stands for Take Profit / Stop Loss.
On Batonex, TP/SL orders are only available for held positions.
Triggered by ROI(%)
Triggered by % (=volatility)
Triggered by PnL
TP/SL orders are essential for exit strategies.
Take Profit closes a position at a specified profit level.
Stop Loss closes a position at a specified loss level for risk management.
2. Post only
When you place an order to buy or sell a cryptocurrency, your order will be matched with existing orders that are already filling the order book, preventing it from being executed as a taker trade, and ensuring that your order is only executed when the maker is guaranteed to execute.
Post Only orders do not guarantee execution.
Post only is available only for Limit Orders.
If the order can be executed as a Taker, it will be canceled immediately.
3. Reduce Only
This option makes an already entered position available only to decrease the quantity of the position.
This option allows you to only decrease an entered position, but not increase it.
The Reduce Only feature is available when selecting the One-Way mode.
4. TIF(Time In Force, GTC, IOC, FOK)
TIF refers to the length of time an order is valid before it is filled or canceled and can be one of three options: GTC, IOC, or FOK.
GTC (Good Till Cancelled): The order is valid until canceled by the order holder.
IOC (Immediate or Cancel): If part of the order quantity (number of contracts) is filled, the balance of the order will be canceled.
FOK (Fill or Kill): The entire order is canceled if the full order quantity (number of contracts) is not filled.
Automatic Position Reduction Mechanism
https://www.batonex.com/en/guide/perpetual/deleveraging
Funding Costs
https://www.batonex.com/en/guide/perpetual/fundingRate
Insurance Fund
https://www.batonex.com/en/guide/perpetual/insure_fund
Margin
https://www.batonex.com/en/guide/perpetual/margin
Position Limits
https://www.batonex.com/en/guide/perpetual/risk_limit
Understanding Leverage PnL
https://www.batonex.com/en/guide/perpetual/leverage
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