Order types

Order Types

There are 4 order types on Raydium Perpertuals:

Market: An order to buy or sell at the current price. A market will fill all (inverse-sided) open orders until the quantity is matched. If the size of the order is larger than the whole book then the remaining quantity is canceled.

Limit: An order to buy or sell at a specified price.

Stop Orders: An order that only activates once the asset reaches or surpasses a specified price, known as the "stop price" or "trigger price". If the asset does not reach the stop price, the order remains inactive and is not executed.

Stop market: When the asset hits the stop price, the order is activated and becomes a live market order, it will be executed at the next available market price.

Stop limit: When the asset hits the stop price, the order is activated and becomes a live market order, it will be placed as a limit order and executed if the market reaches the specified limit.

Order Flags

IOC (Immediate or Cancel): It matches as much as possible at the order_price. If not fully executed, then the remaining quantity will be canceled.

FOK (Fill or Kill): If the order can be fully executed at the order_price, then the order gets fully executed otherwise would be canceled without any execution.

POST ONLY: If the order executes with any maker trades at the time of placement, then it will be canceled without execution.

REDUCE ONLY: Executes buy or sell orders that only reduce the current position