Stop-Loss and Take-Profit are conditional orders that automatically place a mark or limit order when the mark price reaches a trigger price specified by the user. If the mark price reaches or exceeds the trigger price, the Stop-Loss/Take-Profit order will be converted to a live order and placed in the order book. If the mark price does not reach the trigger price, the Stop-Loss/Take-Profit order will remain active until it is canceled or triggered.

If you’re placing a Stop-Loss/Take-Profit limit order:

  1. The Trigger Price has to be set within the range stated below:

Instrument minimum tick size < Trigger Price < 200% of the current instrument mark price

  1. The Limit Price should be within the bandwidth stated below:
    Spot pairs:

  • Aggressive bandwidth: 25% of the Trigger Price

  • Passive bandwidth: 0.1x of the Trigger Price for Buy orders, 10x of the Trigger Price for Sell orders

Perpetuals and Futures contracts:

  • Aggressive bandwidth: 5% of the Trigger Price

  • Passive bandwidth: 50% of the Trigger Price

If you’re placing a Stop-Loss/Take-Profit market order, you need to enter the trigger price according to the conditions described above. Once the mark price reaches the trigger price, a mark order will be placed at the next available price.

Stop-Loss Order

Stop-Loss orders can help traders mitigate risk by automatically closing a long/short position if the price moves unfavorably. A Stop-Loss order can also be placed if the user does not have an open position.

A user can only place a Sell Stop-Loss order if the trigger price is below the current mark price, and a Buy order if the trigger price is above the current mark price.

Sample Stop-Loss Orders:

Advanced Order Type

Side

Mark Price (USD)

Trigger Price (USD)

Limit Price (USD)

Triggering Condition

Stop-Loss Limit

Sell

25,000

20,000

19,000

If Mark Price <= 19,500

Stop-Loss Market

Buy

25,000

50,000

n.a.

If Mark Price >= 50,000

Take-Profit Order

Take-Profit orders can help traders lock in a profit by automatically closing a position if the price moves favorably. A Take-Profit order can also be placed if the user does not have an open position.

Users can only place a Buy Take-Profit order if the trigger price is below the current mark price, and a Sell order if the trigger price is above the current mark price.

Sample Take-Profit Orders:

Advanced Order Type

Side

Mark Price (USD)

Trigger Price (USD)

Limit Price (USD)

Triggering Condition

Take-Profit Limit

Buy

20,000

19,000

18,000

If Mark Price <= 19,000

Take-Profit Market

Sell

20,000

25,000

n.a.

If Mark Price >= 25,000

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