Market orders

Use a market order when filling now matters more than the exact price. Pick Market on the ticket, enter a size, and send. The order fills at once or ends at once, so there is nothing left to manage afterwards.

A market order takes liquidity. It fills against the resting orders on the other side of the book, best price first, each at that resting order’s own price, until your size is filled. It never rests on the book.

The ticket sends it with a worst acceptable price worked out from your max slippage, so no part fills more than that far from the best price. Whatever the book can’t fill at that price or better is cancelled straight away.

Before you send, the order details under the fields show what to expect:

Row	What it shows
Est. fill price	The average price for your size, worked out from the book as it stands. It reads “Deeper than the visible book” when the book on screen can’t fill the whole size.
Slippage	How far that average sits from the best price, in percent.
Margin at 10×	The margin the order takes at your leverage, which the row names. On spot, Order value takes its place.
Est. liquidation	Where the position would be liquidated after the order. With a position open, Liquidation shows the price now and after.
Fees	What the order pays, in dollars.
Max slippage	Your limit for this order, which you can change right there.

Setting	What it does
Size	The amount to buy or sell, in the market’s asset by default. Switch its unit to type it in dollars instead. The slider and the % box set it as a share of what you can trade, shown as Available to trade.
Size by	Size by default. Risk, on perpetuals, asks for Max loss and a Stop loss price and works out the size whose loss at the stop, fees in and out included, is that amount. The stop goes with the order as its stop loss.
Max slippage	1% by default, up to 10%. The furthest from the best price any part of the order may fill. It is also in Settings, Trading.
TP / SL	Off by default. Adds a take profit and a stop loss that close what this order opens. See TP / SL. Perpetuals only.
Reduce only	Off by default. The order can only make your position smaller. Perpetuals only.
Confirm orders	On by default, in Settings, Trading. Shows the order in words, with its costs, before it goes.
Two order buttons	Off by default, in Settings, Trading. Puts Buy and Sell side by side in place of the side switch.

Press Enter in any field to send, through the confirmation when it is on. More keys are on Keyboard shortcuts.

On markets where the exchange offers quotes, a Quote row joins the order details when a market order is large for the book: estimated slippage over 0.1% on $10,000 or more, a size the book can’t fill, or $500,000 or more. Request quote shares your size with market makers without your side. Once quotes are ready, you have up to 2 minutes to send your market order while their liquidity stands. Request quotes (RFQ) in Settings, Trading turns the row off.

A market order pays the taker fee, which the Fees row shows in dollars before you send. See The fee.

• The book is thinner than your size. The order fills what it can within your max slippage, and the rest is cancelled. The ticket warns first: “Not enough liquidity on the book for this size.” or “The fill would move past your max slippage, so part of it may not fill.”
• The average price is far from the best. Over 5% away, the ticket says so before you send.
• There isn’t enough margin. The order button says why and offers the largest size that fits, such as “Above your most at 20×: use 0.051”. Pressing it only fills the ticket; you check it and send again.
• It flips your position. A sell larger than your long closes it and opens a short, and the ticket says so. With Reduce only on, the order stops at zero instead.
• It meets your own resting order. The exchange cancels your resting order in full, and the market order keeps filling against the rest of the book.
• No answer comes back. The order shows as Confirming in Open orders until the exchange reports it. If it never appears, the ticket says so. Nothing is ever sent twice; you decide whether to send again.

“Sent. Waiting for it to confirm.” shows under the button. A notice tells you when the order fills, the position appears in Positions, and each fill is listed in Trade history. A market order has nothing to cancel: by the time you see it, it has filled or ended. To manage the position, see Leverage and margin and Liquidation.