| Aspect | Market Order | Limit Order |
Execution Speed |
Once submitted, the LBank system automatically matches your order with the best available price in the order book, resulting in immediate execution.323 | This order is not executed instantly. Instead, it is placed in the order book and will only be filled when the market price meets or exceeds your specified price. |
Price Control |
When placing the order, you can reference the current mark price or the latest traded price, but you cannot set a specific price. The final execution price is determined by the market depth at the time of execution. | You can specify your targeted buy or sell price based on the current mark price or the latest traded price, enabling more precise control over your trading costs. |
Use Case |
Ideal for users who value rapid execution and aim to buy or sell instantly. | Ideal for users seeking to trade at a precise price with greater control over pricing. |
Risk |
Influenced by the current order book liquidity, which may impact execution if liquidity is limited. | If your limit price is significantly distant from the current market price, execution is not assured. With limited market depth or large position sizes, the order may only be partially filled. |