# Order Types

Spot supports three order types: **Market**, **Limit**, and **TWAP**. Pick them from the tabs at the top of the order entry panel.

<!-- 📸 SCREENSHOT NEEDED: Spot order entry showing Market / Limit / TWAP tabs -->

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## Market

Executes immediately against the order book at the best available price.

- **Slippage cap** — market orders carry a maximum slippage setting (default 0.5%, adjustable from 0.01% up to 20%). If the book moves beyond your cap before the order lands, the unfilled remainder is cancelled instead of filling at a worse price.
- Size can be entered in the base asset or in USD, or as a percentage of your balance.

Use market orders when speed matters more than price.

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## Limit

Rests on the book at your chosen price. Three time-in-force options:

| TIF                                      | Behaviour                                                                                                          |
| ---------------------------------------- | ------------------------------------------------------------------------------------------------------------------ |
| **GTC** (Good til canceled)              | Rests on the book until it fills or you cancel it.                                                                 |
| **IOC** (Immediate or cancel)            | Fills whatever it can immediately at your price or better; cancels the rest.                                       |
| **ALO** (Add liquidity only / post-only) | Joins the book without ever matching immediately — cancelled if it would cross. Guarantees you pay the maker rate. |

Use limit orders when you want price control. A resting limit order that fills pays the **maker** fee — the cheapest way to trade on Spot.

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## TWAP

A TWAP (Time-Weighted Average Price) order splits a large order into small slices executed steadily over a duration you choose, reducing the market impact of sizing in or out.

- **Duration:** 5 minutes to 24 hours. Presets for 15m / 30m / 1h / 4h; default 30 minutes.
- **Randomize timing** (on by default): varies the spacing of the slices so the pattern is harder to front-run.
- **Minimum TWAP size: $100.**

The TWAP runs in the background — you can watch progress and cancel the remainder at any time from the open orders panel.

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## Order minimums and precision

- Minimum order value: **$10**.
- Prices are quoted to 5 significant figures; size precision varies by asset. The order panel enforces both for you.

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## After you place an order

- **Open orders** — resting limit orders and running TWAPs appear in the orders panel, where you can cancel them individually or all at once.
- **Fills** — executions appear in your trade history and update your balances immediately.
- **Positions** — spot holdings appear in the Spot tab of [Portfolio](https://onchain.cc/docs/portfolio-and-tools/portfolio-view.md), alongside total and available balance.

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> **Note**
>
> Spot has no stop-loss or take-profit orders — those are perps features. If you need conditional exits, see [Perps → How to Close a Position](https://onchain.cc/docs/perps/how-to-close.md).