Limit Orders
Set the exact price you wish your trade to execute at
Last updated
Set the exact price you wish your trade to execute at
Last updated
Limit Orders allow users to specify a price at which they would like to buy or sell an asset. For example, if the current price of SUI is $2.50, but you would like to purchase SUI if the price falls to $2.40, you can do so with a Limit Order. A Limit Order can be created by following these simple steps:
Navigate to the Trade->Limit Orders page through the menu bar at the top of the screen
Choose which asset you would like to sell (i.e. USDC), and which asset you would like to purchase (i.e. SUI)
Enter the amount of chosen asset you would like to sell. This amount will be reserved while your Limit Order is pending and you will not be able to access the funds unless you cancel the order.
The current exchange rate will display once you enter an amount you wish to sell. This is the amount you would receive if you were to swap right now. Below, a field labeled Custom allows you to enter the price at which you wish to purchase the asset. The Exchange Rate you enter here should be greater than the Market Exchange Rate, displayed below. This means that you are setting a Limit Order to purchase the asset at a more favorable rate.
You can also toggle the direction of the Exchange Rate by clicking the arrows. For example, if you prefer to think in terms of 1 SUI = X USDC rather than 1 USDC = Y SUI, simply click the arrows to switch the direction.
Set the price you would like to purchase the asset at by typing it into the Custom field. This is the price at which your Limit Order will be placed.
Once you have specified the price at which you would like to purchase the asset, there are a few more options you can select if desired. The first is a Stop Loss. A Stop Loss will execute your trade if the price moves in an unfavorable direction. For example, say you wish to buy SUI at a better price, so you set a Limit Order. Rather than decreasing, the price of SUI suddenly increases. You may wish to purchase it anyway, before it rises even more. You can use a Stop Loss to do this. The value you enter for your Stop Loss should be less favorable than the current Market Exchange Rate.
You can also set your Limit Order to expire after a certain duration if it is not filled, as well as opt to send the purchases asset to a different address than the one from which you created the order.
Once you are satisfied with the parameters of your Limit Order, click Create Order and approve the transaction in your wallet. You will then see your Limit Order appear under Active Limits, where you can review your order or cancel it if desired. Once the order executes or expires, it will appear under the Past Limits tab.
