How to Place a Limit Order
Last updated
Last updated
Cetus just launched its Limit Order product. This guide will help you understand how to place a limit order on Cetus.
Select a token pair to indicate which token you want to sell and which one you want to buy.
Enter an amount for either the input token or the output token to set the amount you want to spend or the amount you want to purchase. The amount of the other one will be calculated automatically according to the price you indicated.
Next, you can specify the price or your order. First, you can choose to adjust the price direction here to select a direction suitable for the pair and your trading.
And then, enter the exact price you want.
You can also click "Market" to get the current market price as your input price. However, please note that sometimes the data update of market price might be outdated or inaccurate, especially for rare pairs. Therefore, please always double check if the final input price suits your want. Also, selecting "Market price" doesn't mean your order will be executed instantly because the price is changing dynamically and all orders will be implemented in their sequence when the price is triggered.
The on-chain limit order product is more like a plan order tool. Usually, users will set a price higher than the current market price for selling and set a price lower than the current market price for buying. Otherwise, the normal swap product is more recommended.
Not every limit order can be fully executed in the short term, which depends on what price that the user specified, how the market goes, the actual liquidity depth of the market, the order size and some other factors. Therefore, an expiry time of the order will be necessary for users. By default, the expiry time for a limit order is 7 days. Users can customize the expiry time, which is up to 1 month. By the end of the expiry time, if an order has not been fully executed, the order will be automatically cancelled. All unfilled amounts will be returned to the user as a result.
After you have input everything and confirmed all the settings, you can click the "Place Limit Order" button below to proceed. Please double confirm all parameters and information in the pop up window to make sure it's correct before submitting your order and approving it in your wallet.
Before a limit order is fully executed or cancelled, it can be checked in the "Open Orders" section at the bottom. You will be able to see what percentage of your order amount has been filled.
If an order is fully filled, the filled amount (purchased amount) will be distributed to the user's wallet automatically upon the order completion;
If an order has only been partially filled, the filled amount will temporarily be stored on-chain. Users can choose to claim the partially filled amount (purchased amount) manually by clicking the "Claim" button if they want to get those capital in advance.
Users can choose to cancel their open orders before it's fully filled. Upon cancellation, the unfilled amount will be returned to the user directly. For the amount that has been already filled, the purchased amount will be distributed to the user together.
An order that is not fully executed within the specified timeframe will be cancelled automatically once it's expired.
