Order types

Order types supported on WaterX and how they work.

Market Order

Executes instantly at the current oracle price. Best for when you need to enter or exit immediately.

Submitted directly on-chain by your transaction — no Keeper involved.

Limit Order

Specify a target price. The Keeper executes the order when the oracle price reaches that level.

• Limit Buy (Long): Opens a Long when the price drops to your specified price

• Limit Sell (Short): Opens a Short when the price rises to your specified price

Best for traders who want to enter at a specific price level.

Example: BTC is currently at $62,000. You set a Limit Buy at $60,000. When BTC drops to $60,000, the Keeper automatically opens a Long for you.

Stop-Loss

Automatically closes your position when the price moves against you. Reduce Only — can only close existing positions, not open new ones.

• Stop-Loss on a Long: Set a trigger price below the current price

• Stop-Loss on a Short: Set a trigger price above the current price

Example: You hold a BTC Long, entry at $60,000. You set a Stop-Loss at $57,000. When BTC drops to $57,000, the Keeper closes your position automatically, limiting your loss.

Take-Profit

Automatically closes your position to lock in profits when the price moves in your favor. Reduce Only.

• Take-Profit on a Long: Set a trigger price above the current price

• Take-Profit on a Short: Set a trigger price below the current price

Example: You hold a BTC Long, entry at $60,000. You set a Take-Profit at $66,000. When BTC rises to $66,000, the Keeper closes your position automatically.

Order Execution

Order Type	Executed by	Timing
Market Order	User transaction on-chain	Instant
Limit Order	Keeper	When oracle price reaches specified level
Stop-Loss	Keeper	When oracle price reaches trigger level
Take-Profit	Keeper	When oracle price reaches trigger level

The Keeper is an automated program run by the WaterX team, monitoring prices 24/7 and executing triggered orders.

The actual execution price for Limit Orders, Stop-Loss, and Take-Profit is the oracle price at the moment of trigger, which may differ slightly from your set trigger price (depending on the speed of price movement).

Use Market Orders for instant execution, Limit Orders to enter at specific price levels, and Stop-Loss / Take-Profit to manage risk and lock in profits automatically.