Glossary
What is Post-only order
A limit order that must rest in the book: if it would fill instantly as a taker, the exchange cancels it, so you only ever pay the maker fee.
How it works
Example
The ask is 62,961. A post-only buy at 62,962 is cancelled: it would have filled at the ask. At 62,960 it rests in the book. On $10,000 a 0.02% maker fee is $2 and a 0.05% taker fee is $5: a $3 gap.
Common mistake
Using post-only on an entry you actually need: on a fast market it keeps getting cancelled and the trade leaves without you.
Read next
Related terms
Frequently asked questions
- Where can I learn Post-only order step by step?
- In the Trading OS Academy: “Stop and take-profit are orders, not intentions”, “Costs: fees, funding, slippage”.
- What is Post-only order related to?
- Limit order; Maker / taker fee; Order book; Spread.
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