Basics of Order Types

Order Types

There are 5 order types on Sharpe Perp:

MARKET: It matches until the full size is executed. If the size is too large (larger than the whole book) or the matching price exceeds the price limit (refer to price_range), then the remaining quantity will be canceled.

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 any execution.

REDUCE ONLY: Executes buy or sell orders which only reduce a current position