> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ownit.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Order types

> Market and limit orders, with the fee each one pays.

Market and limit orders decide how a trade enters: now at the available price, or later at your price.

## Market orders

Fill immediately at the best available prices. Price can move while the order fills, so the fill can differ from the quote. Use one when getting in or out now matters more than the exact price.

## Limit orders

A limit order fills only at your price or better, and waits until it can. If your price is already across the spread, it fills straight away and pays the taker fee. Otherwise it waits, triggers when mark price reaches your limit price, and fills at the average price in the order book at your price or better.
A limit order can fill partially. While it rests, the Orders tab shows its size and value, limit price, filled percentage, time submitted, and any attached TP and SL.

## Market vs. limit

| | Market | Limit |
| - | - | - |
| Fills | Immediately | When price reaches your limit; may fill partially |
| Price | Best available; can slip | Your limit or better |
| Fee | Taker | Maker if it rests; taker if it crosses the spread at placement |
| Sits in Orders | No | Until filled or canceled |

SOL at \$160: a buy limit at \$158 rests until mark price reaches \$158. A market buy fills at \$160 and the next levels up.

## Managing an open limit order

Open limit orders are in **Orders**. Cancel or watch the fill from there; attached TP/SL orders are listed under it. Stop and take-profit orders are trigger orders: they become market orders when price reaches the trigger.

## Slippage

Slippage is the difference between the expected price of an order and its average fill price. A market order fills only against resting orders on the other side of the book; when the best price has less size than the order, the rest fills at the next price levels. Larger orders, thinner books, and fast markets increase it.

```text Example theme={"system"}
Market buy 1 BTC
0.5 BTC at $60,000 + 0.5 BTC at $60,010
Average fill $60,005
```

Limit orders do not slip past their limit. Stop loss and take profit orders fill as market orders and can slip.

> [card] [Fees](https://docs.ownit.xyz/resources/fees.md)
>
> Maker and taker rates, funding, worked examples, and what is free.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.