Orderbook

Ault DEX uses an on-chain central limit order book. Each order sets a side, a size, and the price you accept.

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Order types

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Stop Loss and Take Profit

Testnet-Only. Stop Loss and Take Profit are conditional orders. Both trigger on the last traded price on Ault DEX, not the mark or index price. You cannot place a conditional order whose trigger is already met. A waiting conditional order holds no funds or margin. When it triggers, the new order goes through funding and margin checks. If those checks fail, the conditional order closes with no fill. Triggering does not guarantee a fill. For example, a long position can use a reduce-only stop with a trigger of 95 and an IOC sell limit of 94. When the last trade reaches 95 or below, it tries to sell at 94 or better. If the price gaps below 94, it may not fill.

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Scheduled execution

Each slice is the remaining size divided by the number of slices left, so size that did not fill moves into later slices. A slice can be at most 3 times the original slice size. A slice below the minimum order size is raised to that minimum, and the TWAP ends once the remaining size is below it. For example, a 10-minute TWAP for 1,000 has 20 slices of 50. If the first 10 slices do not fill, the next slice is 100 (1,000 / 10). If the first 14 do not fill, the next slice is capped at 150 instead of about 167 (1,000 / 6). On Mainnet, placing a TWAP holds the full amount, and unused funds and proceeds return when it ends. On Testnet, nothing is held for the whole schedule. Each slice is checked and funded when it runs. To stop a TWAP, cancel its parent ID. Slices already created are not canceled, and their fills stand. You cannot cancel or modify an individual slice.

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Matching and priority

Orders are matched by price, then by time. A trade executes at the resting order’s price. Your place in the queue depends on when the chain executes your transaction, not on when your request reached an API. If your order would match your own resting order, the resting order closes with no fill or fee, and your incoming order continues against other orders. This also applies across your derived trading accounts. A post-only order that would trade immediately is rejected first, so it does not close your resting order.

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Price ticks and protection

The price step depends on the market’s tick_precision and the size of the price, so it is not a fixed number of decimals. A price that is not on a valid step is rejected, not rounded. See the price examples. Spot market orders are limited to a price band around the last trade, and you can set a tighter band. A market with no trades cannot accept market orders.

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Order lifecycle

1. Orders can be rejected. An order can be rejected for its price step, size, minimum value, or the account’s order count. The minimum value is currently 10 in the market’s quote asset, such as 10 USDC. Each order in a Scale must meet it, a TWAP must total at least 100, and a reduce-only order that closes a full position is exempt. Every limit order needs a deadline.
2. Changing the size keeps your place. A quantity-only change keeps the order ID and queue position. Changing the price creates a new order ID and queue position. The new size is the total including fills: after 3 of 10 units fill, setting the size to 5 leaves 2 open.
3. A fill beats a cancel. If a fill is committed first, it stands. Canceling a partly filled order releases only the unfilled part.