What is a limit order?#
A limit order is an agreement to swap tokens at a specific price you set.
Unlike a traditional swap, which executes immediately at the current market price, a limit order waits until a filler can match your specified price before the swap occurs.
When creating a limit order you choose:
- Which tokens you want to sell and buy.
- The amount of tokens you want to sell and buy.
- The price at which you want the swap to occur.
- The time frame the order stays active (the "expiry").
Once you have created a limit order, it is sent into a pool of open orders accessible by an open network of third-party fillers, who compete to fill it at your price.