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Trigger Orders

Trigger orders are conditional instructions that sit off the book until a price level is crossed — stop-losses, take-profits, and conditional entries.

Direction​

Every trigger watches the price from one direction:

  • Above triggers activate when the market price rises to or above the trigger tick.
  • Below triggers activate when the market price falls to or below the trigger tick.

The direction is determined automatically from the current price when you submit. If the trigger tick is already crossed at submission time, the trigger fires immediately.

Book Price Only​

Triggers watch the order book price (last_book_tick) — not pool prices. A large AMM swap that moves a pool's internal price will not activate your stop-loss or take-profit. Only actual book trades move the reference price that triggers watch.

This is a deliberate design choice. Pool prices can be moved by a single large swap, making them vulnerable to manipulation. Book prices require matching against resting liquidity at each level, making them far harder to push artificially.

Activation​

When triggered, the order converts into a standard limit order and enters the execution queue. If marked immediate-or-cancel, whatever doesn't fill instantly is cancelled and returned — the order never rests on the book.

Constraints​

  • Triggers share a combined entry limit with orders — up to 50 active entries (orders + triggers) per user per market.
  • Funded from your trading balance — funds are locked immediately on creation, fully collateralized from the moment the trigger exists.
  • The limit tick has a maximum distance from the current price to prevent extreme slippage scenarios.