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

Important: Limit orders are not posted on an orderbook.

• Limit orders on Vest act like trigger market orders.

• Once the index price hits your limit, the order executes immediately—only if it can fill at or below your limit price after accounting for slippage.

• 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 your trigger price hits—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.