Trading and order types
Order submission is disabled across the current multi-venue terminal. The controls below let you inspect and prepare order drafts. They are not an available live execution service. Use the venue application to place or manage live orders.
Order-ticket anatomy
The ticket is bound to a venue instrument and account context. Market, Limit and Pro select the form. Side, size, price and any conditional fields define the draft; the summary shows available estimates.
To inspect a draft:
- Open the intended market and confirm its venue and spot/perpetual type.
- Select the side and order type.
- Enter size and the price or trigger fields required by that form.
- Review the summary and any disabled-control explanation.
No successful submission state is available in this release. Adding a preview account does not change that.
Quantity and notional sizing
The ticket supports base-asset and quote/notional sizing. Conversions use the applicable entered price or available market reference. Recheck the resulting base quantity when changing order type or price. Percentage sizing depends on account buying power; missing account data is not a zero-cost or unlimited allocation.
Market orders and slippage controls
Market drafts use the configured Maximum slippage and a current execution reference in the implementation. Settings → Terminal sets the default, including for close-position orders. The proposed bound is not a guaranteed fill price or a guarantee that the entire order will fill.
Limit orders and time in force
Enter the limit price and size, then choose the time-in-force controls the venue form exposes. GTC, IOC and ALO do not share identical wire behaviour across venues: the Lighter adapter maps its resting limit path to a finite venue expiry, currently 28 days. Do not interpret the shared GTC label there as an unlimited lifetime.
Post-only execution
Post-only intent is available through the limit controls, including ALO where shown. It expresses a maker-only requirement. The venue can reject an order that would take liquidity; the interface must not be read as guaranteeing maker placement.
Stop-market and stop-limit orders
Choose Pro → Stop Market or Stop Limit. Enter the trigger and, for Stop Limit, the limit price. These are conditional drafts; entering a trigger does not activate protection. Venue trigger handling and supported price references must be checked before any future live use.
Scale orders
Choose Pro → Scale. Set From Price, To Price, Total Size, Orders and Skew, then inspect Ladder. The Lighter builder accepts 2–50 child orders and rejects a ladder when an individual child falls below the market’s minimum size. Preview quantities can be rounded for display; they are not a fill report.
TWAP orders
Choose Pro → TWAP and complete the duration and size fields. The implementation uses venue-native execution, not a promise that the browser will schedule orders itself. The Lighter builder requires at least one minute. Creating a draft does not start a TWAP; the account’s TWAPS tab is for actual available venue state.
Take profit and stop loss
TP/SL controls prepare protective legs alongside supported entry drafts. The Lighter implementation attaches them to perpetual Market or Limit entries when reduce-only is off; it does not attach them to every Pro order or spot order. Hyperliquid has its own TP/SL form and order construction.
An entered trigger or chart line is not confirmed protection. Verify real protective orders at the venue independently while terminal execution is unavailable.
Reduce-only orders
Reduce-only is a perpetual position constraint in the execution implementation. It does not transfer to spot as an equivalent closing instruction. Confirm the intended account, direction and quantity; a populated account display does not enable the currently blocked submit path.
Leverage and margin mode
Perpetual forms expose margin and leverage information where account context permits. Spot has no perpetual leverage setting. The Lighter submission implementation currently applies cross margin; do not infer isolated-margin execution from a generic form control. None of these drafts overrides this release’s execution gate.
Order estimates and confirmation
The summary can show Liquidation Price, Order Value, Margin Required, Slippage and Fees. Values depend on available market and account inputs. A dash is unavailable information, not zero risk or zero cost.
Some implementation paths include a Review order dialog, but that is not reachable as an enabled submission workflow in this release. News actions only prefill a ticket.
Execution errors and rejected orders
Read the disabled reason first. Execution will be enabled after this multi-venue review cannot be fixed by repeated sign-in, deposits or key approvals. Other existing readiness checks cover locked sessions, missing fee approval and refreshing market metadata.
For any real venue action made through another application or an existing session, an unknown response is not proof of rejection. Inspect open orders, fills and TWAP state at the venue before retrying; a second submission can duplicate exposure.
Venue support matrix
This table describes available draft controls and implementation boundaries. Live submission is disabled in every row.
Disabled and upcoming order types
Chase and Swarm are visible future options, not executable strategies. News may also show unavailable Burst controls. Their presence does not establish API support, delivery timing or automatic execution.