dYdX allows three different order types - Market, Limit, and Stop.

Market Order

A Market order is an order to buy or sell a given asset and will execute immediately at the current market price.

  1. Select Buy or Sell

  2. Enter an Amount - this is the total trade size

Advanced Market Order Options

Market orders may generate some price slippage depending on the size of the trade. Users can select the Max Slippage beyond the expected price impact that will be allowed on the product. If the slippage exceeds this amount, the order will fail in order to protect the trader from a bad price. Users can individually set this max slippage number to whatever you are comfortable with. dYdX sets the default here for you at 0.5%.

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Limit Order

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.

On the Spot page, the Limit order option is available in the trade box immediately.

  1. Select Buy or Sell

  2. Enter an Amount - this is the total trade size

  3. Enter a Limit Price - set the maximum or minimum price at which you are willing to buy or sell

Limit orders have a default Good Til Date of 28 days which can be changed.

Advanced Limit Order Options

You can also add options like Good-Til-Date, Fill Or Kill, or Post-Only. When selecting a limit order, you can expand the Advanced section to reveal the following Time in Force and Execution policies:

  • Good Til Date - This order will be placed on the order book and automatically expires at the specified date.

  • Fill or Kill - This order will only complete if the entire amount can be matched. Partial matches are not filled with this order type and will not execute.

  • Post-Only - This order is either placed in the order book or expires if matches an existing order. The Post-Only option guarantees that you will not pay the taker fee.

How is a limit order on dYdX different from other exchanges?

Limit orders on dYdX are different to other DEXs in that funds need to be in your account before any limit orders can be placed. This account is the same account where you may have already deposited to earn interest. dYdX uses off-chain orders and on-chain settlement - orders are matched by dYdX and settled on-chain. In this way - it is similar in principle to other matching model DEXs such as Paradex.

Is there a minimum trade size for limit orders?

For the most up to date minimum trade sizes and fees, head to Trade Fees for Margin / Spot: http://help.dydx.exchange/en/articles/4800491-margin-spot-trading-fees.

Can I submit multiple limit orders on the same market?

Yes - you can submit as many orders as desired, so long as they are above the minimum threshold.

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Stop Order

A Stop order will execute only when the index price crosses a specified Stop Price or Trigger Price. Once the index price touches your stop price, a Fill-or-Kill order will automatically be placed to limit buy/sell your order amount.

The limit price will be 5% higher (for buys) or 5% (lower) for sells than the trigger price. This is to account for large price swings where the index price does not update as fast as the orderbook. This also means that in times of extreme volatility, the stop order may not execute as it may not be fillable when triggered. Users will pay taker fees. Gas fees are covered by dYdX.

dYdX offers 2 types of Stop Orders:

  • Standard-Stop Orders

  • Trailing-Stop Orders

Standard-Stop Orders

For new positions:

  1. Select Buy or Sell

  2. Enter an Amount - this is the total trade size

  3. Enter the desired Stop Price

For open positions:

  1. Hover over the Stop Price column under the "Position" tab for the position you would like to add a stop to

  2. Enter your desired Stop Price

Advanced Stop Order Options

You can edit your Good Til Date and Max Slippage under the Advanced section in the trade box.

Trailing-Stop Market Orders

Trailing Stop orders allow traders to protect gains by enabling a position to remain open and continue to profit as long as the price is moving in their favor.

A Trailing Stop Loss order is a modification of a Standard-Stop Market Order. The stop price on a Trailing Stop is determined by the trailing percent. If the index price moves in favor of your position, the stop price will update to “trail” the index price based on your trailing percent. For a long position, a trader places a trailing stop loss below the current market price. For a short position, a trader places the trailing stop above the current market price.

For new positions:

  1. Select Buy or Sell

  2. Enter an Amount - this is the total trade size

  3. Enter the desired Stop Trailing Percent

For open positions:

  1. Hover over the Stop Price column under the "Position" tab for the position you would like to add a stop to

  2. Enter your desired Trailing Percent

Advanced Stop Order Options

You can edit your Good Til Date and Max Slippage under the Advanced section in the trade box.

What is the relationship between the index price and the stop price?

The index price used for triggering stop orders is an aggregate price based on multiple exchanges, but is off-chain and therefore updates much quicker to ensure accurate stop order triggers which is very important in times of rapid market fluctuation.

How do I cancel a stop order on my position?

Open the modal to edit the stop on your position. Then click the Clear button. You will see the button text on the bottom right of the modal change to Remove Stop. Clicking the button and signing the cancel message will cancel the stop associated with that position.

Is there a minimum trade size for stop orders?

The minimum size for stop orders is the same as limit orders. For the most up-to-date minimums on order types, head to our Trade Fees Page.

Can I have multiple stop orders in the same market or position?

For open positions, your stop order will automatically fully close your position, so only one stop order is allowed per position. For trades placed on the "tab," there is no limit to the number of stop orders you can have for each market, as long as those orders can't potentially put your main account under the collateralization threshold.

What are the trading fees for stop orders? What about gas?

Since Stop orders are executed as taker orders, the fees are the same as taker orders.

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Are there gas fees?

Gas is covered by dYdX given that dYdX is sending transactions on-chain. Some small orders may incur a variable gas fee. For the most up to date small order fees, head to Trade Fees for Margin / Spot: http://help.dydx.exchange/en/articles/4800491-margin-spot-trading-fees.

I get a "Something went wrong" error. What's wrong?

If you're using a MetaMask wallet, let us know in the Chat (in the Help dropdown).

If you're using some mobile wallet or using Trezor + MetaMask, please try enabling "Compatibility Mode" in the wallet dropdown (in the upper right).

If you're using a Ledger, please try connecting your wallet without MetaMask (by disconnecting your wallet in the Wallet dropdown, and then connecting as Ledger). Or you can continue to use it with MetaMask if you enable the "Compatibility Mode" option in the Wallet dropdown.


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