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	Immediate entry/exit	Instant, any price	Perps, Spot, Predictions
Limit	Price control	At your price or better	Perps, Spot, Predictions
Stop Market	Stop losses, breakouts	Market order when triggered	Perps, Spot
Stop Limit	Controlled stops	Limit order when triggered	Perps, Spot
TP/SL	Risk management	Auto profit/loss exits	Perps, Spot
TWAP	Large orders	Time-distributed execution	Perps, Spot
Scale Orders	DCA, gradual entry/exit	Multiple limits across range	Perps, Spot

Order Type Categories

Basic Orders (All Markets)

• Market Order: Execute immediately at best available price

  • Available for: Perpetuals, Spot, Prediction Markets
• Limit Order: Execute at your specified price or better

  • Available for: Perpetuals, Spot, Prediction Markets

Conditional Orders (Perps & Spot Only)

• Stop Market: Trigger market order at price level

  • Available for: Perpetuals, Spot
• Stop Limit: Trigger limit order at price level

  • Available for: Perpetuals, Spot
• Take Profit / Stop Loss: Automated profit taking and loss limits

  • Available for: Perpetuals, Spot

Advanced Orders (Perps & Spot Only)

• TWAP: Time-weighted execution for large orders

  • Available for: Perpetuals, Spot
• Scale Orders: Distribute orders across price range

  • Available for: Perpetuals, Spot

Important Concepts

Time-in-Force (TIF) Options

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 →

Reduce Only

Optional flag that ensures orders can only close positions, not open new ones.

Learn more about Reduce Only →

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 when speed matters more than price.

For Price Control

Use Limit Order when you want a specific entry/exit price.

For Risk Management

Use TP/SL Orders on every position to automate exits.

For Large Positions

Use TWAP to minimize market impact and slippage.

For Gradual Entry/Exit

Use Scale Orders to DCA or distribute across price levels.

For Breakouts and Stops

Use Stop Market for guaranteed execution after trigger. Use Stop Limit for price control after trigger.

Next Steps

• Perpetuals Trading Guide
• Spot Trading Guide
• Margin & Leverage