Order types
Vest doesn’t use a central limit order book. Instead, it acts as the counterparty to all trades, so some order types work differently.
Order Types
Market Orders
Market orders work just like on other exchanges—executed instantly at the best available price.
Limit Orders
Limit orders on Vest act like trigger market orders.
Once the mark price hits your limit, the order executes immediately—only if it can fill at or below your limit price after accounting for slippage. Otherwise, the order will remain open.
Example: If you set a buy limit at $49,000 for BTC, the order fires when BTC’s index price hits $49,000. It fills only if slippage keeps the total price below $49,000.
Take-Profit / Stop-Loss Orders
These execute instantly when the mark price hits your trigger price—without slippage checks (to protect you from bigger losses).
Example: Long BTC at $50,000 with a stop-loss at $48,000? If BTC touches $48,000, Vest sends a market order to close your position immediately.
Advanced Order Types
Coming soon: TWAP, trailing take-profits, and stop-losses.
Fees
Flat 0.01% (1bps) taker fee on every trade.
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