How to Use Stop Limit and Stop Market Orders in BYDFi Perpetual Contracts (PC)
Stop Limit and Stop Market orders are advanced trading tools available on BYDFi Perpetual Contracts. They allow traders to automate Stop Loss (SL) and Take Profit (TP) strategies, protect positions, and manage risk without constantly monitoring the market.
⚠️ Note: If you select One-Way Position Mode, you cannot enable TP/SL and Reduce-Only at the same time.
How to Place Stop Limit / Stop Market Orders on Perpetual Contracts
1. Enter the Perpetual Contract Trading Page
Log in to your BYDFi account and navigate to the Perpetual Contract Trading page.
2. Select Stop Order Mode
Choose Stop Limit or Stop Market from the order panel.
3. Set Trigger and Limit Prices
- Stop Limit: define both a Trigger Price and a Limit Price.
- Stop Market: define a Trigger Price, and the system will execute a market order once triggered.
4. Set Stop Loss / Take Profit
- You can set a general Stop Loss.
- Tick TP/SL, then click Advanced to select Latest Price or Mark Price as your reference.
Stop Limit / Stop Market FAQ
Why is my Stop Loss / Take Profit order displayed when opening a position?
The system generates conditional orders based on your position type and trigger price:
| Direction | Trigger Condition | TP/SL Order Type |
|---|---|---|
| Long | Trigger ≥ Mark Price | Limit SL Order |
| Long | Trigger < Mark Price | Limit TP Order |
| Short | Trigger ≤ Mark Price | Limit SL Order |
| Short | Trigger > Mark Price | Limit TP Order |
Example Scenario
- Current BTC Price: 114,000 USDT
- User Wants to Buy: 1 BTC at 113,000 USDT
Step 1: Set Orders
- Trigger: 115,000 USDT
- Limit Price: 115,500 USDT
Step 2: Order Behavior
- If BTC drops to 113,000 USDT: Buy is triggered. The Limit TP order at 115,500 USDT is cancelled.
- If BTC rises to 115,000 USDT: Buy is triggered at 115,500 USDT. The Limit SL order at 113,000 USDT is cancelled.
This ensures that your TP/SL orders are dynamically managed based on market movements.
Key Takeaways
- Stop Limit Orders: Provide more price control but may not execute instantly during high volatility.
- Stop Market Orders: Execute immediately at the best available price, prioritizing speed over price control.
- Always monitor Mark Price vs. Latest Price when setting triggers to avoid unexpected execution outcomes.