# Order Types ## Basic Order Types ### Limit Orders Allow you to set a specific price at which you want to buy or sell. Your order will only execute at your specified price or better. * **Flexible execution** as maker or taker * **Partial fills allowed** for large orders * **Time priority** in the order queue * Professional price-time matching #### ⚠️ MEV Risk Warning If your limit order price exceeds the best opposing price, there is a risk that your entire order might be filled at your limit price. **Example:** If you're placing a BUY order and the lowest ask is $10, but you set your limit at $11, your entire order might be filled at $11 (but not higher). ### Market Orders Are essentially limit orders placed at the best available price from the opposing orderbook. They are not guaranteed to fill completely or at all. Any unfilled portion of your order will be executed based on the Taker Execution Type setting. * **Immediate execution** at the best available price * **No price guarantee** - accepts any price in the order book **Example:** If you're placing a BUY order and the lowest ask is $10, your order will attempt to fill at $10, it may be completely filled or partially filled or not filled at all. #### ⚠️ Execution Risk Warning * Your order might not be filled completely * Your order might only be partially filled * In rare cases, your order might not be filled at all ## Advanced Order Settings ### Post-Only Only place maker orders (no taker orders). Ensures your trade is added to the order book but does not execute immediately. If a post-only order would execute immediately against another order, transaction is reverted. * **Never accidentally take liquidity** and pay fees * **Always receive maker rebates** on your orders * **Perfect for market makers** and large positions ### Taker Execution Type **Standard** - Fill what can be filled immediately, remaining amount is placed on the order book as normal limit order **IOC** - Fill what can be filled immediately, cancel the rest * **No order book exposure** for your strategy * **Ideal for arbitrage** opportunities **FOK** - Must be filled completely or the entire transaction reverts * **Complete fills only** - no partial positions * **Perfect for precise** portfolio requirements * **Risk management** for exact amounts ### Taker Match Limit Behavior What to do when your taker order's match limit is close to being reached after matching many maker orders: **Place At Last Matched Price** - Place the remaining unmatched amount at the last matched price **Cancel Remaining** - Cancel the remaining unmatched amount ### Max Matches Maximum number of maker orders your taker order can match against. This prevents excessive gas usage when matching against many small orders. Minimum value is 1. Default: 20 --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://world-book.gitbook.io/worldbook/spot-trading/order-types.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.