Beginner: which order type should you pick on BloFin's XRPUSDT perp?

[Beginner guide - order types]

20,000 contracts. That is the biggest single Market order BloFin's public instrument data allows on XRP-USDT. A single Limit order can go up to 100,000 contracts. The exchange itself treats "fill me now" and "fill me at my price" as two different jobs, and a first futures trade goes smoother once you see why.

The image is the live BloFin XRPUSDT perpetual page from this morning: price header, 1h chart, order book, and the order panel with the Limit / Market / Trigger tabs, the Reduce-only box, the GTC menu and the TP/SL box.

Contract facts used below (BloFin public API, this morning):

• 1 contract = 100 XRP, minimum and step size 0.01 contract (1 XRP)
• price tick 0.0001, max leverage 125x
• last 1.3111, mark 1.3113, index 1.3117, 24h range 1.2843 to 1.3214
• Regular-tier fees from BloFin's fee schedule: maker 0.0200%, taker 0.0600%

The order types, one line each:

• Market: fills now at the best available price. You choose size, not price. Slippage is possible in fast or thin markets. Pays taker.
• Limit: you set the price; it fills only at that price or better and can sit unfilled. Resting orders that fill later pay maker.
• Trigger: does nothing until the trigger price is reached, then sends a Market or a Limit order. Common for breakout entries.
• TP/SL: a trigger attached to a position that closes it at your profit or loss level.
• Trailing stop, TWAP and reverse order also exist on BloFin, but they are not first-week tools.

The menu next to the Limit box (BloFin calls these advanced order options):

• GTC: stays on the book until filled or cancelled. The default.
• Post only: if it would fill immediately as a taker, it is cancelled instead, so you are always the maker.
• IOC: fills what it can right now, cancels the rest.
• FOK: fills the whole size right now or cancels all of it.
• Reduce-only (the checkbox): can only shrink or close a position, never open or flip one.

Worked example, 1,000 XRP = 10 contracts at 1.3111:

• Notional: 1,000 x 1.3111 = 1,311.10 USDT
• Market in and Market out: 1,311.10 x 0.0006 x 2 = about 1.57 USDT
• Limit in and Limit out, both resting as maker: 1,311.10 x 0.0002 x 2 = about 0.52 USDT
• Gap: about 1.05 USDT on one round trip, before any price move

Quick FAQ Q: My buy limit above the current price filled at once. Why? A: BloFin's own example covers this: a buy limit above the market fills right away against the best ask, at roughly the market price, and counts as a taker fill. Q: When is Market the right call? A: When getting out matters more than the exact price, for example closing a position that has gone wrong. Q: Should my stop be Post only? A: No. Post only can be cancelled instead of filling, which is the last thing you want from a stop. Q: Does the same logic apply on BTC, ETH, SOL or DOGE? A: Yes. The tabs are identical; only contract size, tick and limits change per pair.