How to Set Different Futures Order Types

Futures Order Types

CoinEx provides 4 different order types for Futures Trading: Limit order, Market order, Stop-Limit Order, and Stop-Market Order. For more details, please refer to Order Types of Futures Trading

 

Futures Execution Types

CoinEx provides 4 different order execution types: Always Valid, Immediate or Cancel, Fill or Kill, and Maker Only. For more details, please refer to Different Order Execution Types


Futures Trading Mechanism

For Maker/Taker trading mechanism, please refer to What are Maker & Taker


Futures Order Trigger Mechanism

1. By Latest Price: When the latest price meets the trigger price, Stop Order will be executed.

2. By Mark Price: When the Mark Price meets the trigger price, Stop Order will be executed.

Mark Price is used to calculate the unrealized PNL and the forced liquidation, which may vary from the latest price.

Calculation: Based on the Index Price, Mark Price = Index Price * [ 1 + Funding Rate * ( Time to the Next Funding Payment / Funding Rate Period Interval ) ]

Main Usage: To prevent unnecessary forced liquidation in high leverage Margin/Futures trading, and to reduce losses caused by price manipulation and liquidity squeeze in Futures trading.

3. By Index Price: When the Index Price meets the trigger price, Stop Order will be executed.

The Index Price comes from the average price of the latest price from several exchanges.\nReference Exchanges: Binance, Huobi, Gemini, Coinbase, Bitstamp, FTX and other exchanges.

Main Usage: CoinEx has employed an anticipatory mechanism to adjust the components of the Index Price during severe market fluctuation, ensuring the Index Price swings within an acceptable range.

 

Examples on Futures Order Settings

1. Set Limit Order

a. Maker

Assuming you want to set a limit order (Maker) which use USDT to Long Buy ADAUSDT contracts:

(1) Suppose the latest execution price for ADAUSDT contracts is 2.6238 USDT, and the current Ask1 price is 2.6238 USDT

(2) Select [Limit] order

(3) Set the Price at 2.6237 USDT and the Amount at 50

(4) Check and confirm the Execution Value

(5) Click [Buy ADA] to submit the order

After the order is submitted successfully, it will be sent into the market and become Bid1. When the market price fluctuate to 2.6237 USDT, the order will be executed. It works the same for a limit order (Maker) to sell.

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b. Taker

Assuming you want to set a limit order (Taker) which use USDT to Long Buy ADAUSDT contracts:

(1) Suppose the latest execution price for ADAUSDT contracts is 2.6265 USDT, and the current Ask1 price is 2.6269 USDT.

(2) Select [Limit] order

(3) Set the Price at 2.6269 USDT and the Amount at 50

(4) Check and confirm the Execution Value

(5) Click [Buy ADA] to submit the order

After the order is submitted successfully, it will be sent into the market and become Ask1. When the market price fluctuate to 2.6269 USDT, the order will be executed. It works the same for a limit order (Maker) to sell.

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2. Set Market Order

a. Set Market Order to buy

Assuming you want to use USDT to Long Buy ADAUSDT contracts under market price:

(1) Observe the market depth of existing sell orders

(2) Select [Market] order

(3) Set the Value at 50 ADA

(4) Click [Buy ADA] to submit the order

After the order has been submitted successfully, it will be sent into the market and be executed in sequence on the basis of the market best prices until the order has been completely executed.

Please be noted that, if you want to buy in large volume, please pay highly attention to the current market depth of existing sell orders to avoid the market slippage.

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b. Set Market Order to sell

Assuming you want to get USDT by Short Selling ADAUSDT contracts under market price:

(1) Observe the market depth of existing buy orders

(2) Select [Market] order

(3) Set the Value at 100 ADA

(4) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will be sent into the market and be executed in sequence on the basis of the market best prices until the order has been completely executed.

Please be kindly noted that, if you want to sell in large volume, please pay highly attention to the current market depth of existing sell orders to avoid the market slippage.

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3. Set Stop-Limit Order

a. Set Stop-Limit Order under Long Position

· Take Profit:

Assuming you think that the price of ADA will rise in the future, you could Long Buy ADAUSDT contracts to make profit; however, if you consider the price will stop rising when reached 3.5 USDT, then you could set a Stop-Limit Order to take profit by the following steps:

(1) Select [Stop-Limit] order

(2) Select the type of stop price of [Latest Price]

(3) Set the Stop price at 3.5 USDT

(4) Set the Limit price at 3.49 USDT

(5) Set the Selling Amount

(6) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest market price reaches the Stop Price (3.5 USDT), and 50 ADA will be sold at the price of 3.49 USDT each, which will be sent into market automatically and be executed in sequence. 

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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· Stop Loss:

Assuming you think that the price of ADA will rise in the future, you could Long Buy ADAUSDT contracts to make profit. As you can see, the liquidation price of the position is 0.9434 USDT, if you consider the price will keep falling when dropped to 2.5 USDT, then you could set a Stop-Limit Order to stop loss by the following steps:

(1) Select [Stop-Limit] order

(2) Select the type of stop price of [Latest Price]

(3) Set the Stop price at 2.5 USDT

(4) Set the Limit price at 2.49 USDT

(5) Set the Selling Amount

(6) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest market price reaches the Stop Price (2.5 USDT), and 50 ADA will be sold at the price of 2.49 USDT each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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b. Set Stop-Limit Order under Short Position

· Take Profit:

Assuming you think that the price of ADA will fall in the future, you could Short Sell ADAUSDT contracts to make profit. however, if you consider the price will stop falling when dropped to 2.5 USDT, you could set a Stop-Limit Order to take profit by the following steps:

(1) Select [Stop-Limit] order

(2) Select the type of stop price by [Latest Price]

(3) Set the Stop price at 2.5 USDT

(4) Set the Limit price at 2.51 USDT

(5) Set the Selling Amount

(6) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest market price reaches the Stop Price (2.5 USDT), and 50 ADA will be sold at the price of 2.51 USDT each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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· Stop Loss:

Assuming you think that the price of ADA will fall in the future, you could Short Sell ADAUSDT contracts to stop loss. As you can see, the liquidation price of the position is 4.9296 USDT, if you consider the price will keep rising when reaches 2.5 USDT, you could set a Stop-Limit Order to stop loss by the following steps:

(1) Select [Stop-Limit] order

(2) Select the type of stop price by [Latest Price]

(3) Set the Stop price at 3.5 USDT

(4) Set the Limit price at 3.51 USDT

(5) Set the Buying Amount

(6) Click [Buy ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest market price reaches the Stop Price (3.5 USDT), and 50 ADA will be bought at the price of 3.51 USDT each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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4. Set Stop-Market Order:

a. Set Stop-Market Order under Long Position

· Take Profit:

Assuming you think that the price of ADA will rise in the future, you could Long Buy ADAUSDT contracts to make profit; however, if you consider the price will stop rising when reached 3.5 USDT, then you could set a Stop-Market Order to take profit by the following steps:

(1) Select [Stop-Market] order

(2) Select the type of stop price by [Index Price]

(3) Set the Stop price at 3.5 USDT

(4) Set the Selling Amount

(5) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest index price reaches the Stop Price (3.5 USDT), and 50 ADA will be sold at the best market price each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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· Stop Loss:

Assuming you think that the price of ADA will rise in the future, you could Long Buy ADAUSDT contracts to make profit. As you can see, the liquidation price of the position is 1.0163 USDT, if you consider the price will keep falling when dropped to 1.5 USDT, you could set a Stop-Market Order to stop loss by the following steps:

(1) Select [Stop-Market] order

(2) Select the type of stop price by [Index Price]

(3) Set the Stop price at 1.5 USDT

(4) Set the Selling Amount

(5) Click [Sell ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest index price reaches the Stop Price (1.5 USDT), and 50 ADA will be sold at the best market price each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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b. Set Stop-Market Order under Short Position

· Take Profit:

Assuming you think that the price of ADA will fall in the future, you could Short Sell ADAUSDT contracts to make profit. however, if you consider the price will stop falling when dropped to 1.5 USDT, you could set a Stop-Market Order to take profit by the following steps:

(1) Select [Stop-Market] order

(2) Select the type of stop price by [Index Price]

(3) Set the Stop price at 1.5 USDT

(4) Set the Buying Amount

(5) Click [Buy ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest index price reaches the Stop Price (1.5 USDT), and 50 ADA will be bought at the best market price each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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· Stop Loss:

Assuming you think that the price of ADA will fall in the future, you could Short Sell ADAUSDT contracts to make profit. As you can see, the liquidation price of the position is 4.9296 USDT, if you consider the price will keep rising when reaches 3.5 USDT, you could set a Stop-Market Order to stop loss by the following steps:

(1) Select [Stop-Market] order

(2) Select the type of stop price by [Index Price]

(3) Set the Stop price at 3.5 USDT

(4) Set the Buying Amount

(5) Click [Buy ADA] to submit the order

After the order has been submitted successfully, it will not be sent into the market immediately. The order would only be triggered when the latest index price reaches the Stop Price (3.5 USDT), and 50 ADA will be bought at the best market price each, which will be sent into market automatically and be executed in sequence.

Please be noted that, none of your assets would be frozen when you submit an order. Also, the order may not be executed due to insufficient balance (margin).

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