How to Use Chasing Limit Orders – Help Center

Chase Limit Orders

Chase limit orders are limit orders that are placed at the best bid or ask price, and dynamically adjust the entry price based on the continuously changing market conditions, until the order is executed, canceled, or reaches the maximum chase distance.

Chase limit orders are applicable to all perpetual contract trades (including USDT and BTC contracts). After submitting a chase limit order, the system will immediately update the order price based on the current market direction, allowing the order to execute more quickly while saving on fees. Let's explain this with an example.

Web Version

Placing an Order

Step 1: Enter the trading interface, select the trading pair you want to place an order for, then click "More Order Types" in the order section and select "Chase Limit Order."

Step 2: Create your chase limit order by setting the following parameters:

Position Mode: The preferred position mode of the selected contract should remain consistent.
Chase Price: The price at which the limit order will be placed while the chase limit order is being executed. By default, it is set to the best bid or ask price.
Total Quantity: Enter the total amount of the order you want to submit or use the percentage slider to quickly set the contract quantity and the available margin ratio.
Chase Interval: The frequency at which the order price will be adjusted.

Step 3: Confirm the order information before submission.

Viewing / Cancelling Orders

After placing an order, you can view the current active orders in "Current Orders" > "Chase Limit Orders" at the bottom of the trading page. Orders that are fully executed or canceled can be checked in the "Order History." The executed portion can be viewed in the chase limit order detail page. To cancel the order, click "Cancel" next to the order in "Current Orders."

Viewing Historical Orders

Completed or canceled chase limit orders will appear in "Order History." You can click on the chase limit orders in the history to view the details.

Chase Limit Order Details

Both active and completed chase limit orders support viewing order details. You can click the "Details" button next to the chase limit order in the "Current Orders" or "Order History" section to view the order status, parameter information, and execution details.

App Version

Placing an Order

Step 1: Enter the trading interface, select the trading pair you want to place an order for, then expand "More Order Types" in the order section and select "Chase Limit Order."

Step 2: Create your chase limit order by setting the following parameters:

Position Mode: The preferred position mode of the selected contract should remain consistent.
Chase Price: The price at which the limit order will be placed while the chase limit order is being executed. By default, it is set to the best bid or ask price.
Total Quantity: Enter the total amount of the order you want to submit or use the percentage slider to quickly set the contract quantity and the available margin ratio.
Chase Interval: The frequency at which the order price will be adjusted.

Step 3: Confirm the order information before submission.

Viewing / Cancelling Orders

After placing an order, you can view the current active orders in "Current Orders" > "Chase Limit Orders" at the bottom of the trading page. Orders that are fully executed or canceled can be checked in "Order History," and executed parts can be checked in "My Executions." To cancel the order, click "Cancel" next to the order in "Current Orders."

Viewing Historical Orders

Completed or canceled chase limit orders will appear in "Order History." You can click the "Bill" icon on the far right of the "Positions" section to view the historical order details.

Chase Limit Order Details

Both active and completed chase limit orders support viewing order details. Click the "Details" button next to the chase limit order to enter the detail page, where you can check the order status, parameters, and execution details.

Advanced Options Explanation

Maximum Chase Distance: The maximum chase distance can be set either as a value or a percentage. Once the latest price reaches the preset threshold, the chase limit order will automatically be canceled.
Maximum Chase Price: The boundary price calculated based on the maximum chase distance and the current market price:
- Buy orders: If the market price is greater than or equal to the maximum chase buy price, the chase limit order will terminate.
- Sell orders: If the market price is less than or equal to the maximum chase sell price, the chase limit order will terminate.

Example

1.Basic Parameter Setup

Xiao Ming wants to buy 1 BTC using a chase limit order. After submitting the order, the system will place a limit order at the best bid price. As the bid price changes, the executable portions of the order will be filled, and the remaining unfilled portion will continue to be placed at the new best bid price until the entire 1 BTC is filled or Xiao Ming cancels the order manually.

2.Advanced Parameter Setup

Xiao Ming continues to place a buy order with chase limit order, where the current best bid and ask prices are 120603.2 and 121329.5, and the following conditions are set:

Total Quantity: 1 BTC
Maximum Chase Distance: Set as a price gap, with the gap set to 100. Based on the market prices, the maximum chase buy price is 120703.2 and the maximum chase sell price is 121229.5. After submitting the order:
The first limit order is placed at 120603.2, and as the market price changes, the remaining unfilled portion will be placed at the new best bid price.
If the market price increases beyond 120703.2, the chase limit order will terminate, and the remaining unfilled portion will be canceled.

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