Order Types
Master the different order types available on Polyblock. Learn when to use market orders vs limit orders for optimal execution.
Market Orders
Market orders execute immediately at the best available price in the orderbook.
How They Work
Your order fills against existing limit orders in the orderbook, starting with the best price and moving through the book until filled.
When to Use
Use market orders when you need guaranteed execution and are less concerned about the exact price — for example, to quickly exit a position.
Limit Orders
Limit orders let you specify the exact price at which you're willing to trade.
How They Work
Your order is placed in the orderbook and waits until another trader matches your price. The order may partially fill over time.
When to Use
Use limit orders when you have a specific price target and are willing to wait for the market to come to you.
Advantages
No slippage — you always get your specified price or better. You can also provide liquidity and potentially earn the spread.
Order Management
Manage your pending orders through the trading panel:
View Open Orders
All your pending limit orders are displayed in the "Open Orders" section of the trading panel with price, size, and fill status.
Cancel Orders
Click the cancel button next to any order to remove it from the orderbook. This frees up your capital for other trades.
Modify Orders
To change an order's price or size, cancel it and place a new one. Order modifications aren't supported directly.
Best Practices
Check the Spread
Always check the bid-ask spread before trading. Wide spreads mean higher trading costs regardless of order type.
Use Limit Orders for Size
For larger positions, use limit orders to avoid moving the market against yourself with slippage.
Set Realistic Prices
Don't set limit orders too far from the current price if you want them filled before market resolution.
Trading Fees
Polyblock charges a 2.5% platform fee on all BUY orders. This fee is automatically calculated and deducted from your balance when you purchase shares.
Fee Details
• BUY orders: 2.5% fee on the total trade amount (e.g., $100 trade = $2.50 fee)
• SELL orders: No fee — you're selling shares, not spending USDC
• Fee collection: Automatically deducted from your USDC balance before order execution
Balance Requirements
When placing a BUY order, ensure you have enough balance to cover both the trade amount and the fee. The system will show an error if your balance is insufficient.