A typical market order to open a position will open at the current price of the market. Now with limit order, you can indicate a specific price for the position to be opened.
General Notes
- Limit Orders operate independently from your existing positions.
- They remain active until either triggered at your specified price or manually cancelled.
- If triggered, they will either:
- Open a new position if you have no existing position.
- Increase and combine with your existing position in that market.
- They stay active even if you close or get liquidated on an existing position.
- The Perps V2 Beta supports up to 20 limit orders on the same pair and side.
Important Notes
⚠️ Placing Limit Order Near Liquidation Price
Jupiter Perps does not enforce First-in, First-out (FIFO), meaning execution order is not strictly based on price priority. Instead, it depends on which transaction - your Limit Order (LO) or the liquidation transaction - gets processed first.
If you create a Limit Order at a price near your liquidation level, and having the expectation of potentially saving your existing position, you must know that the outcome is uncertain:
- If the Limit Order transaction executes first = the position may be saved from liquidation
- If the Liquidation transaction executes first = the existing position will be liquidated, but the Limit Order will remain active, potentially opening a new position immediately.
⚠️ Liquidation Price on Order Form
The liquidation price on the order form for a Limit Order will be the simulated liquidation price based on the position requested at the time when you fill in the order form.
- If you have an existing position = liquidation price includes existing position + current requested order
- If you have no existing position = liquidation price based on current requested order
However, the liquidation price on the order form does not represent the liquidation price when the limit order is triggered and the position is opened - as when the limit order is executed, conditions may have changed.
ℹ️ Limitation on Limit Order
- When the selected market's utilisation is above 80%, new limit orders cannot be created.