Order Types
Overview
Omnera supports multiple order types across execution venues. The available order types depend on the instrument (spot, perps, or prediction markets) and the capabilities of the underlying venue.
Spot Orders
| Order Type | Description | Behavior |
|---|
| Market | Execute immediately at the best available price | Fills at current market price. Subject to slippage based on size and liquidity depth. |
| Limit | Execute at a specified price or better | Rests until the market reaches the target price. May partially fill. |
Perpetual Futures Orders
| Order Type | Description | Behavior |
|---|
| Market | Open or close a position immediately | Fills against the orderbook at the best available price. |
| Limit | Open or close at a specified price | Rests on the orderbook until filled or cancelled. |
| Stop Market | Trigger a market order when price reaches a threshold | Used for stop-losses. Triggers a market order when the mark price crosses the stop price. |
| Stop Limit | Trigger a limit order when price reaches a threshold | Triggers a limit order at a specified price when the mark price crosses the stop price. |
| Take Profit | Close a position at a specified profit target | Functionally similar to a limit close, but expressed as a profit target relative to entry. |
Prediction Market Orders
| Order Type | Description | Behavior |
|---|
| Market | Purchase outcome shares at the current price | Fills at the current implied probability. Subject to slippage on large sizes. |
| Limit | Purchase outcome shares at a specified maximum price | Rests until the market price reaches the specified level. |
Slippage Protection
All market orders include configurable slippage tolerance. The default slippage is set conservatively. The trader can adjust it before confirmation.
If price movement during execution exceeds the slippage tolerance, the transaction reverts and no funds are spent (gas fees may still apply depending on the chain).
Time-in-Force
For order types that rest (limit, stop), the following time-in-force options may be available depending on the venue:
| Option | Description |
|---|
| GTC (Good Till Cancelled) | Remains active until filled or manually cancelled |
| IOC (Immediate or Cancel) | Fills whatever is available immediately, cancels the remainder |
| FOK (Fill or Kill) | Fills the entire order immediately or cancels entirely |
Omnera presents a unified order interface, but the specific behavior of each order type is determined by the underlying execution venue. Venue-specific details are shown in the execution confirmation before each trade.
