Aster market and limit orders: execution before fee savings

An order expresses priorities

A market order prioritizes execution against available liquidity. A limit order constrains the execution price, but it may not fill. Maker and taker are descriptions of the resulting fill: placing a limit order does not by itself guarantee a maker fee.

For a buy, a limit price sets the most you are willing to pay per unit. For a sell, it sets the least. If that price crosses available liquidity, execution can happen immediately. The fee guide separates execution role from the order label.

A simple book example

Imagine the best available ask is 100.00 and the next ask is 100.20. A market buy larger than the quantity at 100.00 can continue into the next level. A buy limit at 100.00 can fill available quantity there but cannot fill the remainder at 100.20. Neither choice guarantees the complete outcome you want.

That difference matters when position sizing assumes a single entry price. A fill across several prices changes average entry and the distance to a planned stop. Recompute the scenario using actual fills, not only the price displayed when you clicked.

Separate a trigger from its execution

A conditional order introduces a trigger condition before the order can execute. Reaching a trigger is not the same as receiving a fill at that exact price. Order configuration, available liquidity and fast market movement can affect the final execution.

Before relying on a stop, inspect the selected trigger reference and the order that will be submitted. Read the venue’s current instructions for the exact order type. A stop is a risk-management instruction, not insurance against gaps, outages or slippage.

Checks before submission

• Verify the symbol, buy/sell direction and position mode.
• Check quantity, notional and the expected average execution price.
• Confirm whether the instruction opens exposure or reduces an existing position.
• Read any post-only, reduce-only or time-in-force setting in the interface.
• Check the order status after submitting and reconcile partial fills.

Our position-size calculator budgets the price distance and optional fees. It does not simulate order-book execution.

Common questions

Continue exploring

• Aster fees explained: maker, taker and total trading cost
• Aster margin and liquidation: what actually puts a position at risk
• Aster funding rates: payments, intervals and holding costs