Order types & TP/SL
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Bitnxs supports limit orders, market orders, stop (trigger) orders and take-profit / stop-loss (TP/SL) orders on every perpetual market. Limit orders that rest in the book pay the maker fee; orders that fill immediately pay the taker fee.
What order types does Bitnxs support?
Section titled “What order types does Bitnxs support?”| Order type | What it does |
|---|---|
| Limit | Buys or sells at your price or better. Rests in the order book if not filled. |
| Market | Fills immediately against the best available prices. |
| Stop / trigger | Sends an order when the trigger price is reached. |
| Take-profit (TP) | Closes your position at a profit when the trigger price is reached. |
| Stop-loss (SL) | Closes your position to limit losses when the trigger price is reached. |
Time-in-force options: GTC (rests until filled or cancelled), post-only (rejected if it would cross), IOC (fill what you can, cancel the rest) and FOK (all-or-nothing). Market orders never rest; their limit price acts as a price-protection band. Reduce-only orders can only shrink a position. See API order types.
How do take-profit and stop-loss orders work?
Section titled “How do take-profit and stop-loss orders work?”TP/SL orders are evaluated against the oracle price. For example, a stop-loss on a long position fires when the oracle price is at or below your trigger price and then submits a reduce-only sell, so it can only shrink your position, never flip it.
TP/SL trigger orders sit off-book and fire as reduce-only market orders when the oracle price crosses the trigger level (see trigger rules).
Should I use limit or market orders?
Section titled “Should I use limit or market orders?”Use limit orders when you want a specific price and the lower maker fee (0.02%). Use market orders when speed matters more than price (taker fee 0.05%).
What is a reduce-only order? An order that can only decrease an existing position.
Can I modify an order? Yes. Modifying an order is handled as a cancel-and-replace.