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.
Partial fills and queue position
Limit orders can fill in pieces as contra liquidity arrives. Your working size decreases as each partial executes; remaining size stays in the book at the same price until it fills or you cancel. There is no guarantee of time priority beyond what the matching engine enforces—when multiple orders share a price, standard CLOB rules apply.
Market orders consume liquidity level by level. A large market buy lifts every ask until the order is filled or liquidity ends, which is why slippage grows with size. Preview depth before sending size that is large relative to visible asks or bids.
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.
Buy vs sell in the panel
Buying YES increases your exposure to the YES outcome; selling YES reduces it (and may require you to already hold YES shares or to work the book differently depending on product rules shown in the UI). Mirror the same logic for NO. When in doubt, confirm the outcome toggle and the signed position line before submitting.
Trading Fees
Polyblock takes a small platform fee for trading. Fees are automatically calculated and deducted from your balance when you place orders. Ensure you have enough balance to cover both the trade amount and the fee. For the full fee structure, see our Fees page.