What is a limit order and how to execute it
A Limit order is an order to buy or sell a given asset at a specified (or better) price. A limit order to buy will only execute at the limit price or lower, and a limit order to sell will only execute at the limit price or higher.
Limit Orders on Kwenta
Order Entry Panel
- 1.Select the asset you are going to trade in the asset selector drop-down
- 2.Edit your desired leverage by selecting the
editbutton next to
- 3.Pick an order type (limit order)
- 4.Decide on the position size in the amount field (or via the buying power slider)
- 5.Enter your limit price in the price field
- 6.Select a fee rejection parameter if applicable (if the total fees exceed this specified parameter the transaction will
- 7.Choose a side, either long or short
- 8.Click on
Place Limit Order.
Once you’ve executed the transaction, the order will appear under the Orders tab. When the oracle price reaches the limit price, the order will be executed and your position will be opened.
Open Orders on Kwenta
If you want to cancel a limit order before it has been executed, then click on
Canceland confirm in your wallet. As mentioned above, cancellations are done on-chain so this will carry a gas fee.