Introduction to Bybit's Trading Platform
Bybit has emerged as one of the world's top three cryptocurrency exchanges, renowned for its user-friendly mobile app and advanced trading platform. This guide focuses on Bybit's three primary order types—market, limit, and conditional orders—explaining their execution methods and strategic applications.
Key Features of Bybit:
- Market Share: Ranked among the top 3 global crypto exchanges
- Order Types: Supports market, limit, and conditional orders
- Mobile Accessibility: Intuitive app available for iOS and Android
👉 Explore Bybit's trading platform to experience these features firsthand.
Understanding Bybit's Order Types
1. Market Orders
Definition: Orders executed immediately at the best available current market price.
Characteristics:
- Guaranteed execution speed
- No price control (subject to slippage)
- Taker fee: 0.075%
When to Use: Ideal for fast-paced trading when immediate execution is prioritized over price precision.
2. Limit Orders
Definition: Orders set to execute at a specified price or better.
Characteristics:
- Price control
- Maker rebate: 0.025%
- Risk of non-execution if market doesn reach the limit price
Strategic Tip: For BTC/USD pairs, set buy limits below the last traded price and sell limits above it to avoid conversion to market orders.
3. Conditional Orders
Definition: Orders triggered when predefined price conditions are met.
Execution Types:
- Stop-Market: Converts to market order upon trigger
- Stop-Limit: Becomes a limit order upon trigger
Applications:
- Stop-loss protection
- Take-profit automation
- Trend-following entries
👉 Master conditional orders to automate your trading strategy.
Step-by-Step Execution Guides
How to Place a Limit Order
Inverse Perpetual (e.g., BTC/USD):
- Navigate to "Inverse Perpetual" → Select "BTCUSD"
- Click "Limit" → Enter price/quantity → Confirm "Buy" or "Sell"
USDT Perpetual:
- Same process, but select "USDT Perpetual" instead.
How to Place a Market Order
- Select "Market" order type.
- Input quantity only (price auto-fills).
- Confirm "Buy" or "Sell."
Setting Conditional Orders
- Choose "Conditional" order type.
- Set trigger price (reference: Last Price, Mark Price, or Index Price).
- Define execution type (Market/Limit).
- Specify quantity and direction.
Pro Tip: Use Mark Price for stop-loss triggers to prevent premature liquidation during volatility.
Risk Management Notes
| Order Type | Guarantee | Risk |
|---|---|---|
| Market | Execution | Slippage |
| Limit | Price | Non-execution |
| Conditional | Automation | Wrong trigger settings |
Critical Reminders:
- Stop-losses should use Market execution to ensure fills.
- Monitor leverage settings—high leverage amplifies risks.
FAQs
Q: Why didn't my limit order execute?
A: Limit orders require the market to reach your specified price. If it doesn’t, the order remains open.
Q: What are Bybit's fees for these orders?
A:
- Market (Taker): 0.075% fee
- Limit (Maker): -0.025% rebate
Q: How do I avoid unwanted market order conversions?
A: For limit orders, ensure your buy price is below (or sell price above) the last traded price.
Conclusion
Bybit offers sophisticated order types to match diverse trading strategies. Key takeaways:
- Market Orders: Speed over precision
- Limit Orders: Control with potential rebates
- Conditional Orders: Automated risk/take-profit management
Practice these in Bybit's demo mode before live trading.
👉 Start trading on Bybit to apply these strategies today!