Understanding the types of orders available on Bybit is essential for traders aiming to navigate the cryptocurrency markets with precision and confidence. As one of the leading centralized exchanges—ranked just after Binance according to CoinMarketCap—Bybit has earned industry recognition, including the “Centralized Crypto Exchange of the Year” award at the Dubai World Trade Centre. This reputation is built on its robust trading infrastructure, offering both spot and derivatives markets equipped with advanced tools.
To maximize trading efficiency, users must be familiar with Bybit’s comprehensive suite of order types. These are broadly categorized into Basic and Advanced order types, each designed to serve different strategic needs—from instant execution to automated risk management.
Basic Order Types
These foundational order types form the backbone of most trading activities on Bybit. Mastering them is crucial before moving on to more complex strategies.
Market Order
A Market Order executes a trade immediately at the best available price in the current market. It ensures fast entry or exit from a position, making it ideal for traders who prioritize speed over price precision.
However, due to rapid price fluctuations in crypto markets, slippage can occur—meaning the final execution price may differ slightly from the expected price. Since market orders remove liquidity from the order book, they are classified as taker orders and incur higher trading fees.
👉 Discover how fast and reliable trade execution can enhance your strategy.
Limit Order
With a Limit Order, traders specify the exact price at which they want to buy or sell an asset. The order will only execute at that price—or better—giving users greater control over their entry and exit points.
While this reduces the risk of unfavorable pricing, there’s no guarantee the order will fill if the market doesn’t reach the set price. Limit orders that wait in the order book without immediate matching are considered maker orders, often rewarded with lower or zero fees.
Conditional Order
A Conditional Order allows traders to automate trades based on predefined market conditions, such as a specific trigger price. Once triggered, it becomes either a Conditional Market Order or a Conditional Limit Order, entering the market accordingly.
This type is commonly used to set up stop-loss, take-profit, or entry orders in anticipation of future price movements—ideal for hands-off trading strategies.
Advanced Order Types
For traders seeking enhanced control and automation, Bybit offers several advanced order types that support sophisticated risk management and execution tactics.
Take Profit / Stop Loss Order
The Take Profit (TP) and Stop Loss (SL) orders are vital components of any sound trading plan. A TP order closes a position when a desired profit level is reached, locking in gains. Conversely, an SL order limits potential losses by exiting a trade if the price moves unfavorably.
Bybit integrates TP/SL functionality directly into both spot and derivatives trading interfaces, though their behavior varies slightly across markets—offering flexibility depending on your trading style.
Iceberg Order
An Iceberg Order helps execute large-volume trades discreetly by splitting them into smaller, hidden portions. Only a fraction of the total order appears in the order book, minimizing market impact and preventing price manipulation.
This is particularly useful for institutional traders or market makers who need to avoid revealing their full position size.
Post-Only Order
A Post-Only order ensures that your limit or conditional limit order is placed only if it doesn’t match an existing order immediately. This guarantees it will be added to the order book as a maker, qualifying for reduced or zero fees.
Traders use this to provide liquidity while avoiding unintended taker status.
Time in Force (TIF) Selections
Time in Force settings determine how long an order remains active before being canceled or executed. Bybit supports three primary TIF options:
- Good 'Til Canceled (GTC): Stays active until manually canceled.
- Immediate or Cancel (IOC): Executes immediately; any unfilled portion is canceled.
- Fill or Kill (FOK): Requires full immediate execution—or the entire order is canceled.
These options allow traders to align their orders with real-time market dynamics and strategy requirements.
One-Cancels-the-Other (OCO) Order
An OCO Order links two conditional orders: when one is executed, the other is automatically canceled. This is highly effective for setting both profit targets and downside protection simultaneously.
For example, you can place a take-profit and stop-loss together—whichever hits first cancels the other—streamlining risk management.
Reduce-Only Order
A Reduce-Only order ensures that a trade reduces an existing position without increasing it. This prevents accidental position expansion during hedging or closing maneuvers, acting as a built-in safety mechanism.
Close on Trigger
The Close on Trigger order automatically closes an open position when a specified condition—usually a price level—is met. It's often used to secure profits or cut losses without manual intervention.
Trailing Stop Order
A Trailing Stop dynamically adjusts the stop-loss level as the market price moves favorably. Set at a fixed distance or percentage away from the current price, it "trails" behind, helping lock in profits while allowing room for volatility.
This is perfect for trend-following strategies where you want to ride momentum without constant monitoring.
TWAP Order Strategy
The Time-Weighted Average Price (TWAP) strategy breaks a large order into smaller parts and executes them evenly over a set period. This minimizes market impact and avoids sudden price swings caused by large single trades.
TWAP is ideal for executing high-volume trades during volatile periods with minimal disruption.
Scaled Order
A Scaled Order distributes a large trade across multiple price levels within a defined range. Instead of placing all volume at once, it gradually enters the market at incremental prices—helping average entry costs and reducing slippage.
This approach mimics dollar-cost averaging but with algorithmic precision.
Chase Limit Order
A Chase Limit Order continuously adjusts its limit price toward the best bid or ask until filled, canceled, or reaching a maximum chase distance. It balances speed and price control, reducing wait time while still maintaining some slippage protection.
Useful for urgent executions where partial delay tolerance exists.
Frequently Asked Questions
Q: What is the difference between a limit order and a market order on Bybit?
A: A market order executes instantly at the best available price, while a limit order only executes at a specified price or better—but may not fill if that price isn’t reached.
Q: Can I use stop-loss and take-profit orders on Bybit spot trading?
A: Yes, Bybit supports both stop-loss and take-profit features in both spot and derivatives markets, though implementation details vary slightly between them.
Q: How does an Iceberg Order help minimize market impact?
A: It hides the full size of your order by displaying only a small portion in the order book, releasing chunks gradually to avoid influencing price movement.
Q: What does “Post-Only” mean in trading?
A: A Post-Only order ensures your limit order enters the book as a maker. If it would execute immediately, it’s canceled instead—helping avoid taker fees.
Q: Is Trailing Stop available for all trading pairs on Bybit?
A: Most major spot and futures pairs support Trailing Stop orders, but availability may vary slightly based on asset liquidity and contract type.
Q: When should I use OCO orders?
A: Use OCO orders when you want to set both profit-taking and risk-limiting levels simultaneously—ideal for volatile markets where quick exits are crucial.
👉 Explore powerful trading tools that give you an edge in volatile markets.
Understanding the full spectrum of order types available on Bybit empowers traders to execute strategies with precision, manage risk efficiently, and adapt to changing market conditions. Whether you're a beginner learning the basics or an experienced trader deploying complex algorithms, these tools offer the flexibility needed for success.
From simple market and limit orders to advanced features like TWAP, OCO, and trailing stops, Bybit provides everything required for modern crypto trading.
👉 Start optimizing your trading strategy with intelligent order execution today.