Order Types
Paragon markets support all standard Hyperliquid order types.
Hyperliquid Order Types Documentation
Quick Reference
Market
Immediate
No
Fast entry/exit when speed matters most
Limit
At specified price or better
Yes
Precise entries, providing liquidity
Stop Market
When trigger price reached
No
Guaranteed exit on breakout/breakdown
Stop Limit
When trigger price reached
Yes (with risk of no fill)
Controlled exit with price protection
Take Profit
When target price reached
Varies
Lock in gains automatically
Stop Loss
When stop price reached
Varies
Cap downside automatically
Reduce-Only
Depends on order type
Depends on order type
Exit-only orders that prevent position increase
Market Orders
Execute immediately at the best available price.
Use case: Exiting a position quickly or entering when you expect rapid price movement.
Limit Orders
Execute at your specified price or better. The order rests in the orderbook until filled or cancelled.
Use case: Entering at a specific level, scaling into positions, or providing liquidity to earn maker rebates.
Time-in-Force Options
GTC (Good-Til-Cancelled)
Remains active until filled or manually cancelled
IOC (Immediate-or-Cancel)
Fills immediately; cancels unfilled portion
ALO (Add Liquidity Only)
Posts to orderbook only; cancels if it would cross the spread
Stop Orders
Trigger when market price reaches your stop price.
Stop Market
Becomes a market order when triggered. Guarantees execution, not price.
Use case: Hard stop-loss where getting out matters more than the exit price.
Stop Limit
Becomes a limit order when triggered. Requires both a stop price (trigger) and limit price (execution boundary).
Use case: Stop-loss with slippage protection, though the order may not fill in fast markets.
Take Profit / Stop Loss
Attached to existing positions for automated exit management.
Take Profit: Closes position when price reaches your target
Stop Loss: Closes position to limit downside
Use case: Set-and-forget position management. Define your risk and reward upfront.
Reduce-Only Orders
Can only decrease your position size, never increase it.
Use case: Prevent take-profit or stop-loss orders from accidentally opening a position in the opposite direction.
Order Placement
All order types are available through:
Hyperliquid web interface
Hyperliquid API
Third-party interfaces supporting HIP-3 markets
For programmatic order management, see API Overview.
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