> For the complete documentation index, see [llms.txt](https://deriverse.gitbook.io/deriverse-v1/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://deriverse.gitbook.io/deriverse-v1/working-with-orders.md).

# Working with Orders

Once your account is activated and funds are deposited, you can start trading on the **Spot** or **Perp** (Perpetual) pages.

{% hint style="info" %}
Only **Spot** trading is live at this time.
{% endhint %}

### 1. Types of orders

The trading interface includes an order entry form where you select the execution method.

| Order type | Behaviour                                                                                           |
| ---------- | --------------------------------------------------------------------------------------------------- |
| **Limit**  | Buys or sells at a specific price or better. It is placed in the Orderbook and waits to be matched. |
| **Market** | Buys or sells immediately at the best available current price.                                      |

#### Options for Limit orders

{% hint style="warning" %}
These two options are **mutually exclusive** - selecting one automatically deselects the other.
{% endhint %}

* **Maker Only** - prevents the order from executing as a Taker. If your order matches an existing price in the book, it is rejected so that you never pay taker fees.
* **IOC (Immediate or Cancel)** - requires your order to be filled immediately. Any portion that cannot be filled at the moment of placement is automatically canceled and will not remain as a resting order in the Orderbook.

#### Options for Market orders

This option is available for Market orders only and is hidden for Limit orders.

* **Slippage Tolerance** - sets the maximum price difference you are willing to accept. If the market price moves beyond this limit during execution, the order is rejected to protect you from unfavorable prices.

#### Trading rules

* **Self-Trade Prevention** - the system prevents you from trading against your own open orders. Any attempt to do so results in the order being rejected with a warning notification.

### 2. Maker vs. Taker

These terms describe your role in providing or removing liquidity from the market.

* **Maker** - when you place an order that is not matched immediately (such as a Limit order), it is added to the **Orderbook**. You are "making" the market by providing liquidity.
* **Taker** - when you place an order that executes instantly against an existing order in the book (such as a Market order), you are "taking" liquidity from the market.

### 3. Placing a Limit order

Limit orders let you specify a maximum price to buy or a minimum price to sell.

1. **Configure side and type** - on the Spot or Perp trading page, select **Buy** or **Sell**, then choose **Limit** as your Order Type.
2. **Set price and amount** - enter your target **Price** and the **Amount** of tokens you wish to trade. The **Total (USDC)** calculates automatically based on your input.
3. **Review estimation** - check the **Estimation** panel for your expected fill percentage, average execution price, price impact, and trading fees.
4. **Submit and sign** - click the **Buy** or **Sell** button and approve the signature request in your connected wallet extension.
5. **Success** - the order appears in the **Open Orders** tab and is highlighted in the **Orderbook** (green for bids, red for asks).

### 4. Placing a Market order

Market orders execute immediately at the best available price currently in the orderbook.

1. **Configure side and type** - select **Buy** or **Sell**, then choose **Market** as your Order Type.
2. **Enter quantity** - specify the number of tokens or the amount of USDC you wish to trade.
3. **Adjust slippage** *(optional)* - set your **Slippage Tolerance** (for example, 0.1% or 0.5%) to define the maximum price movement you are willing to accept during execution.
4. **Submit and sign** - click the action button and confirm the transaction in your wallet.
5. **Success** - the order executes instantly and a record appears at the top of your **Trade History** and the **Recent Trades** feed.

### 5. Monitoring your orders

All trading activity can be tracked through tabs in the lower part of the interface, as well as directly within the market data modules.

* **Open Orders** - displays all currently active orders that have not yet been filled or canceled.
* **Trade History** - a record of all your executed trades, including price, amount, and role (Maker/Taker).
* **Recent Trades** - the latest global market activity for the selected instrument.
* **Orderbook** - your active Limit orders are displayed directly within the Orderbook. When you are logged in, your order rows are visually highlighted (for example, yellow for bids or rose for asks) so you can distinguish your positions from those of other market participants.

### 6. Canceling orders

Deriverse provides both individual and mass cancellation for active Limit orders that haven't been filled.

#### Individual cancellation

1. Navigate to the **Open Orders** tab at the bottom of the trading interface.
2. Locate the order you wish to close in the list.
3. Click the **X** icon (or **Cancel Order** button) in the row for that order.
4. Confirm the transaction in your connected wallet.

Once confirmed, the order is removed from the list and the Orderbook. Tokens locked for the order are immediately returned to your **Withdrawable** balance.

#### Mass cancellation (Cancel All)

To cancel all currently active orders for the selected instrument at once:

1. Click the **Cancel All** button at the top of the **Open Orders** tab.
2. Confirm the transaction in your wallet.