Order Types

Market Order

A market order is an order to buy or sell an asset immediately at the best available price in the market.

Limit Order

A limit order is an order to buy or sell an asset at a specified price or better. If the orderbook price is better than the limit price, it'll be filled up until the limit price. If the orderbook price doesn't reach the limit price when the order is placed, it remains open until it can be filled or is canceled. If the order is partially filled due to insufficient market liquidity at that price, the unfilled portion stays active until it is either completed or canceled.

Stop-Market

A stop-market order is a market order triggered when a specific price is hit. Hibachi currently uses the mark price as the trigger price.

Stop-Limit

A stop-limit order is a limit order triggered when a specified price is reached, placing a limit order at the limit price.

TWAP

A TWAP order is a large order divided into smaller suborders, executed in 30 second intervals. Enabling the "randomize" option varies the size and timing of these suborders for added execution discretion, and each child order must meet the minimum order size criteria.