Beginner guide: BYDFi now has 6 futures order types. Here is what each one does to a 20,000 DOGE order

Picture a new trader opening the DOGEUSDT perpetual on BYDFi for the first time. They want 20,000 DOGE long, they see six ways to place it, and they click the first one that looks familiar. This guide is the version of that moment where you know what each button does.

The image is the live BYDFi DOGEUSDT perpetual page from this morning: price header with index, fair price and funding, the 15m chart, the order book, and the order panel on the Limit tab with Market and Chase Limit Order beside it.

The numbers

BYDFi public futures API, this morning: 1 contract = 1 DOGE, minimum 1 contract, price step 0.00001, max leverage 300x, maker fee 0.02%, taker fee 0.06%. Last 0.07757, fair price 0.07758, index 0.07761, 24h range 0.07663 to 0.07816. So 20,000 DOGE at 0.07757 is 1,551.40 USDT of notional.

Limit and Market, the everyday pair

A Limit order fills at your price or better. If nothing in the book matches, it rests and waits. Time-in-force options decide how long: GTC stays until filled or cancelled, IOC fills what it can now and cancels the rest, FOK fills the whole size now or nothing. A Market order fills now at the best available price and can slip when price moves fast. On the 20,000 DOGE order a Market entry costs 1,551.40 x 0.0006 = about 0.93 USDT; a Limit that rests and fills as maker costs about 0.31 USDT. Both legs as taker: about 1.86 USDT. Both as maker: about 0.62.

Post Only, the fee guard

Post Only is cancelled if it would execute immediately, so it only ever lands in the book as a maker order. It protects the 0.02% rate. It does not promise a fill.

Trigger and Trailing Stop, the waiting orders

A Trigger order holds a preset order until a trigger price is reached, then submits it. BYDFi's API lets the trigger read either the mark price or the contract (last) price, which matters on a fast wick. A Trailing Stop follows price in your favour and fires when it reverses by a set amount or percentage.

Chase Limit, the newest one

Chase Limit keeps moving your limit price to the best bid or ask until it fills, is cancelled, or hits the maximum chase distance. It is faster than a plain limit but the fill price can drift. BYDFi lists it as Hedge Mode only.

The same six buttons sit on the BTC, ETH, SOL and XRP perps too.

Which one do you reach for first on a new position, and has a Market fill ever surprised you on a fast candle?