Order types

Market order: Executes immediately at the best available price in the order book. The final price depends on available liquidity. On Aster Spot, market orders are always considered taker trades because they consume liquidity.

Limit order: Lets traders set the maximum price they’re willing to pay when buying, or the minimum price they’re willing to accept when selling. The order is added to the order book and only executes if the market reaches the set price. Limit orders may remain unfilled if the market does not move to the specified price.

Important notes:

• Market orders provide fast entry and exit but the filled price is not guaranteed, especially in volatile markets.

• Limit orders give traders more control over price but may not execute if the market never reaches the chosen level.

Stop limit order: A Stop-Limit order combines a stop price with a limit order. When the stop price is reached, it triggers a limit order to buy or sell at the limit price or better.

Key terms:

• Stop price: The price that triggers the order. Once the asset reaches this price, the limit order becomes active.

• Limit price: The minimum price you are willing to sell at, or the maximum price you are willing to buy at. The order will only execute at this price or better.

• Quantity: The number of tokens you want to buy or sell.