Order Types & TIF
A complete reference for every order type and time-in-force option available on Hyperliquid.
Overview
Different situations call for different order types. A market order gets you in fast. A limit order gets you a better price. A stop-market protects your downside. Knowing which to use and when is key to trading effectively.
This page covers every order type available through Boba Agents on Hyperliquid, along with time-in-force options that control how long your orders stay active.
Order Types
Market
Executes immediately at the best available price.
"Long $500 BTC"
Market buy, fills instantly
"Short $200 ETH"
Market sell, fills instantly
Pros:
Guaranteed execution (as long as there's liquidity)
Instant entry or exit
Simple, no price to specify
Cons:
You pay the taker fee (0.035%)
Slippage on large orders or thin books
No control over execution price
Best for: Quick entries, quick exits, liquid assets, small to medium sizes.
Limit
Executes at your specified price or better. Sits on the order book until filled, cancelled, or expired.
"Long $500 BTC at $95,000"
Only fills if BTC drops to $95,000 or lower
"Short $1000 ETH at $3,800"
Only fills if ETH rises to $3,800 or higher
Pros:
You control the execution price
Earns a maker rebate (0.01%) instead of paying fees
No slippage, you get your price or better
Cons:
Not guaranteed to fill (price may never reach your level)
Can partially fill if there isn't enough volume at your price
Requires patience
Best for: Planned entries, scaling into positions, earning rebates, illiquid assets.
Stop-Market
A market order that triggers when price hits your stop level. Commonly used for stop-losses and breakdown entries.
"Sell $200 BTC if it drops to $60,000"
Stop-loss, market sells BTC at $60k
"Short ETH if it breaks below $3,000"
Breakdown entry, opens short when $3k breaks
"Long SOL if it breaks above $160"
Breakout entry, opens long on the move up
How it works:
Price hits your trigger level
A market order is immediately placed
Fills at the best available price (may have slippage from trigger)
Best for: Stop-losses (guaranteed exit), breakout/breakdown entries.
Stop-Limit
A limit order that triggers when price hits your stop level. Gives you price control but risks not filling.
"Sell BTC at $60,000 trigger, $59,500 limit"
Triggered at $60k, limit order at $59.5k
"Short ETH at $3,000 trigger with $2,990 limit"
Triggered at $3k, limit at $2,990
How it works:
Price hits your trigger level
A limit order is placed at your specified limit price
Fills at your limit price or better (but may not fill at all)
Best for: Exits where you want price control, situations where slippage is unacceptable.
Risk: In a fast crash, price can gap through your trigger AND your limit, leaving the order unfilled. For critical stop-losses, stop-market is safer.
Take-Market
A market order that triggers at your take-profit level.
"Buy $300 ETH if it reaches $5,000"
Take-profit entry at $5,000
"Close my BTC long at $105,000"
Take-profit exit at $105k
How it works:
Price reaches your target level
A market order is immediately placed
Fills at the best available price
Best for: Take-profit exits (guaranteed fill at target), momentum entries.
Take-Limit
A limit order that triggers at your take-profit level. Price control on your profit-taking.
"Take profit on BTC at $105,000 trigger, $104,900 limit"
Triggered at $105k, limit at $104.9k
"Buy ETH at $5,000 trigger with $5,010 limit"
Triggered at $5k, limit at $5,010
How it works:
Price reaches your target level
A limit order is placed at your specified limit price
Fills at your limit price or better
Best for: Precise profit-taking, earning maker rebates on exits.
Order Types Comparison
Market
Immediate
Market
Yes
Quick entries/exits
Limit
At price
Limit
No
Planned entries, rebates
Stop-Market
At trigger
Market
Yes
Stop-losses, breakdowns
Stop-Limit
At trigger
Limit
No
Controlled exits
Take-Market
At trigger
Market
Yes
Take-profits, breakouts
Take-Limit
At trigger
Limit
No
Precise profit-taking
The key trade-off: Market execution guarantees a fill but you pay taker fees and may get slippage. Limit execution gives you price control and earns rebates but risks not filling.
Time-in-Force (TIF)
Time-in-force controls how long your order stays active. This only applies to limit orders and conditional limit orders.
GTC (Good-Till-Cancelled)
The default. Your order stays on the book until it fills completely or you cancel it. No expiration.
"Limit long BTC at $95,000"
GTC by default, stays open indefinitely
"Buy SOL at $140, keep it open"
GTC limit order
Best for: Most limit orders, patient entries, orders you want to leave and forget.
IOC (Immediate-or-Cancel)
Fills whatever it can immediately, then cancels the remaining unfilled portion. Never sits on the book.
"Buy $5000 BTC at $97,000, IOC"
Fills what's available at $97k, cancels the rest
"IOC limit buy ETH at $3,400"
Fills immediately at $3,400 or better, cancels remainder
Best for: Large orders where you want some limit price protection but don't want to leave an order on the book. Getting partial fills at your price without commitment.
ALO (Add-Liquidity-Only)
Your order is rejected entirely if it would execute immediately (take liquidity). It only posts to the book as a maker order.
"Post-only limit buy BTC at $97,000"
Only adds to book, rejected if it would fill immediately
"ALO limit order on ETH at $3,400"
Guarantees maker rebate or no fill
Best for: Guaranteeing you earn the maker rebate. If you set a limit price that's above the current ask (for buys), ALO prevents you from accidentally paying taker fees.
TIF Comparison
GTC
Stays until filled or cancelled
Yes
Most orders, patient entries
IOC
Fills what it can, cancels rest
No
Large orders, partial fills
ALO
Rejected if would take liquidity
Yes (or rejected)
Guaranteeing maker rebates
Choosing the Right Order Type
I want in now
Market Order
Fast, guaranteed, simple.
I want a better price
Limit Order with GTC
Set your price and wait.
I need to protect my downside
Stop-Market
Guaranteed exit when your stop level is hit.
I want to take profits automatically
Take-Market or Take-Limit
Use Take-Market for guaranteed fill, or Take-Limit for price control.
I want to enter on a breakout
Stop-Market
Place above resistance for longs or below support for shorts.
I want to make sure I get maker rebates
Limit Order with ALO
Order is rejected if it would take liquidity instead of providing it.
I'm placing a large order and want some control
Limit Order with IOC
Fills what it can at your price; doesn’t leave the rest hanging.
Pro Tips
Default to limit orders - You get better prices and earn rebates instead of paying fees
Use stop-market for critical stop-losses - Stop-limits can miss in fast markets, stop-market guarantees an exit
Use ALO when rebates matter - Prevents accidental taker fills on limit orders
IOC is great for large orders - Get partial fills at your price without leaving a visible order on the book
Combine types for full strategies - Limit entry + stop-market SL + take-market TP is a solid setup
Don't use stop-limit for your only stop-loss - If price gaps through both levels, you're unprotected
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