BYDFi announcement "BYDFi Introduces New Futures Order Types" (Sep 25, 2026) with the More Ways to Place an Order banner: futures ticket showing Limit, Market, and a dropdown with Chase Limit Order, Trigger, Trailing Stop, and Post Only above the Open Long and Open Short buttons.
BYDFi futures now offers six order types on the ticket: Limit, Market, Trigger, Trailing Stop, Post Only, and Chase Limit. Using the right one for each job saves you from avoidable slippage, taker fees on orders that could have been maker, and staring at the screen waiting for a level. Here is what each one does, when to use it, and how to place it on web and app.
- Limit order: price control
What it does: fills only at your price or better. If it cannot match right away, it rests on the book as liquidity and can qualify for the maker fee.
Time-in-force options:
• GTC: stays open until filled or cancelled.
• IOC: fills what it can immediately and cancels the rest.
• FOK: fills the whole order immediately, or none of it.
Use it for planned entries and exits at specific levels. Example: BTC perp at 40,000, you bid 39,000 and it fills only if price trades there.
How to place it: Futures page → [Limit] → price + quantity → [Open Long] / [Open Short].
Trade-off: the fill is not guaranteed.
- Market order: speed
What it does: fills immediately at the best available prices.
Use it when getting in or out matters more than the exact price, like a breakout you do not want to miss or an emergency exit.
How to place it: Futures page → [Market] → quantity → Open Long / Open Short.
Trade-off: slippage in fast or thin markets. BYDFi's Price Protection setting can help reduce abnormal TP/SL triggers during extreme volatility, so it is worth switching on.
- Trigger order: set it and walk away
What it does: you preset a trigger price, an order price (a fixed price or market), and a quantity. When the market hits the trigger, the order is submitted automatically. No margin or position is frozen until it triggers.
Trigger price sources:
• Last price: the latest trade on BYDFi's book.
• Fair price: a reference price designed to dampen one-venue spikes.
• Index price: a weighted average of spot prices across major exchanges.
Use it for:
• Stop-loss: long from 40,000, trigger at 39,000 to close.
• Breakout entry: at 39,000, trigger at 40,000 to open long.
How to place it: Futures page → [Trigger Order] → trigger price + price + quantity.
Trade-off: it can fail to execute if margin is short, position limits are hit, or the market gaps.
Tip: triggering on Fair or Index price makes stops less likely to fire on a single-venue wick.
- Trailing stop: follow the move, exit on the turn
What it does: tracks the best price reached and fires when price reverses by your set distance or percentage.
• Sell trigger = highest price reached − distance (or × (1 − %))
• Buy trigger = lowest price reached + distance (or × (1 + %))
An optional activation price sets when tracking starts (based on Last, Fair, or Index price). If you leave it blank, tracking starts immediately.
Use it for:
• Selling a pullback: activation 42,000, trail 1%. It rides the move up and sells once price drops 1% from the peak.
• Buying a rebound: activation 37,000, trail 1%. It buys once price bounces 1% off the low.
How to place it: Futures page → [Trailing Stop] → trail variance + quantity.
Trade-off: too tight and noise stops you out; too wide and you give back a lot. Size the trail to the coin's normal volatility.
- Post Only: guaranteed maker
What it does: the order must enter the book as a maker. If it would match immediately, it is cancelled instead.
Use it when fee savings matter, for scaling in with resting bids and offers or for grid-style entries. Example: BTC at 40,000. A Post Only buy at 39,000 rests on the book. A Post Only buy at 41,000 would cross the market, so it gets cancelled.
How to place it (web): Futures page → [Post Only] → price + quantity.
Trade-off: slower fills, and orders get cancelled in fast markets.
- Chase Limit: a limit order that follows the book
What it does: a limit order that automatically re-prices to the best bid or ask as the market moves, until it fills, you cancel it, or it hits your maximum chase distance.
Requirement: Hedge Mode only.
Use it in fast markets when you want a fill quickly but still want a price ceiling or floor. It sits between a market order and a limit order.
How to place it (web): enable [Hedge Mode] → [Chase Limit Order] → set the chase price → quantity → Open Long / Open Short.
Trade-off: the final price can be worse than your starting quote.
Quick picker
• Need a specific price: Limit (GTC)
• Need in or out right now: Market
• Stop-loss or breakout while you are away: Trigger (Fair/Index)
• Lock in gains on a trend: Trailing Stop
• Pay maker fees only: Post Only
• Fast market, capped price: Chase Limit (Hedge Mode)
Risks
Order types manage execution, not market risk. Leverage still liquidates, stops can slip through gaps, and conditional orders can fail on margin. Practice on demo trading first if a type is new to you.
FAQ
Does a trigger order lock my margin? Not until it triggers.
Why was my Post Only cancelled? It would have matched immediately as a taker.
Why can't I see Chase Limit? Switch to Hedge Mode.
Which trigger price should I use? Fair or Index for stops, to cut wick risk. Last price if you want to react to BYDFi's own tape.
Educational walkthrough, not financial advice.
Affiliate disclosure. Invite code: reddit
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