> For the complete documentation index, see [llms.txt](https://docs.bullpen.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bullpen.fi/trading/order-types.md). # Order Types Bullpen supports all order types available on Hyperliquid for perpetual and spot trading, plus prediction market order types for Polymarket integration. ## Quick Reference | Order Type | Best For | Execution | Markets | | ---------------------------------------------------- | ----------------------- | ---------------------------- | ------------------------ | | [Market](/trading/order-types/market-order.md) | Immediate entry/exit | Instant, any price | Perps, Spot, Predictions | | [Limit](/trading/order-types/limit-order.md) | Price control | At your price or better | Perps, Spot, Predictions | | [Stop Market](/trading/order-types/stop-market.md) | Stop losses, breakouts | Market order when triggered | Perps, Spot | | [Stop Limit](/trading/order-types/stop-limit.md) | Controlled stops | Limit order when triggered | Perps, Spot | | [TP/SL](/trading/order-types/tp-sl.md) | Risk management | Auto profit/loss exits | Perps, Spot | | [TWAP](/trading/order-types/twap.md) | Large orders | Time-distributed execution | Perps, Spot | | [Scale Orders](/trading/order-types/scale-orders.md) | DCA, gradual entry/exit | Multiple limits across range | Perps, Spot | ## Order Type Categories ### Basic Orders (All Markets) * [**Market Order**](/trading/order-types/market-order.md): Execute immediately at best available price * *Available for*: Perpetuals, Spot, Prediction Markets * [**Limit Order**](/trading/order-types/limit-order.md): Execute at your specified price or better * *Available for*: Perpetuals, Spot, Prediction Markets ### Conditional Orders (Perps & Spot Only) * [**Stop Market**](/trading/order-types/stop-market.md): Trigger market order at price level * *Available for*: Perpetuals, Spot * [**Stop Limit**](/trading/order-types/stop-limit.md): Trigger limit order at price level * *Available for*: Perpetuals, Spot * [**Take Profit / Stop Loss**](/trading/order-types/tp-sl.md): Automated profit taking and loss limits * *Available for*: Perpetuals, Spot ### Advanced Orders (Perps & Spot Only) * [**TWAP**](/trading/order-types/twap.md): Time-weighted execution for large orders * *Available for*: Perpetuals, Spot * [**Scale Orders**](/trading/order-types/scale-orders.md): Distribute orders across price range * *Available for*: Perpetuals, Spot ## Important Concepts ### [Time-in-Force (TIF) Options](/trading/order-types/time-in-force.md) Controls how long your orders stay active: * **GTC** (Good 'Til Canceled): Stays active until filled or canceled * **GTD** (Good 'Til Date): Active until specific date/time * **IOC** (Immediate or Cancel): Fill immediately or cancel * **FOK** (Fill or Kill): Fill completely or cancel * **ALO** (Add Liquidity Only): Only add to orderbook (maker only) [Learn more about Time-in-Force →](/trading/order-types/time-in-force.md) ### [Reduce Only](/trading/order-types/reduce-only.md) Optional flag that ensures orders can only close positions, not open new ones. [Learn more about Reduce Only →](/trading/order-types/reduce-only.md) ## Order Lifecycle 1. **Placed**: Order submitted to Hyperliquid 2. **Resting**: Limit order sitting on the order book 3. **Triggered**: Stop/TP/SL condition met, order sent to book 4. **Filled**: Order executed (partially or fully) 5. **Canceled**: Order removed (by you or system) View all order states in the Order History tab. ## Choosing the Right Order Type ### For Immediate Execution Use [**Market Order**](/trading/order-types/market-order.md) when speed matters more than price. ### For Price Control Use [**Limit Order**](/trading/order-types/limit-order.md) when you want a specific entry/exit price. ### For Risk Management Use [**TP/SL Orders**](/trading/order-types/tp-sl.md) on every position to automate exits. ### For Large Positions Use [**TWAP**](/trading/order-types/twap.md) to minimize market impact and slippage. ### For Gradual Entry/Exit Use [**Scale Orders**](/trading/order-types/scale-orders.md) to DCA or distribute across price levels. ### For Breakouts and Stops Use [**Stop Market**](/trading/order-types/stop-market.md) for guaranteed execution after trigger. Use [**Stop Limit**](/trading/order-types/stop-limit.md) for price control after trigger. ## Next Steps * [Perpetuals Trading Guide](/trading/perpetuals.md) * [Spot Trading Guide](/trading/spot-trading.md) * [Margin & Leverage](/trading/margin-and-leverage.md) --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.bullpen.fi/trading/order-types.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.