> For the complete documentation index, see [llms.txt](https://aboutcryptotalks.gitbook.io/aboutcrypto/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://aboutcryptotalks.gitbook.io/aboutcrypto/limit-orders-vs-market-swaps-setting-a-price-trigger.md). # Limit orders vs market swaps: setting a price trigger A limit order tells a decentralized exchange to trade your tokens only at a chosen price or better. It can act only when the exchange’s rules and available liquidity allow the trade. A market swap tries to trade now at the best available pool price. A limit order waits for its price condition, so you choose the price but may wait without getting a complete trade. ### What makes a limit order activate? The limit price is the least favorable price you will accept for your trade. For a buy, it is usually the most you will pay per token; for a sale, it is usually the least you will accept. On a decentralized exchange, a token pool holds the assets people trade. Some limit-order systems watch prices and submit a trade when your condition is met. Others, including Biswap V3, use a price range to put your tokens into the pool gradually as its price moves through that range. For example, say BNB trades at 290 USDT and you want to sell one BNB between 300 and 310 USDT. If the pool price moves through that range, your BNB can gradually become USDT. In [Biswap](https://blockbrief.pages.dev/biswap-choosing-between-a-swap-a-limit-order-and-liquidity/) V3’s example, a completed move across the range gives an average price around 305 USDT per BNB. That example shows why “activates at my price” does not always mean one instant trade at one exact price. The chosen condition decides when your order can trade; the exchange’s design decides how it trades within the condition. ### How do you set one, and what does it cost? First choose a supported token pair and decide the price and amount you want to trade. Check which token the price measures: “USDT per BNB” means how many USDT one BNB costs. On Biswap, limit orders use V3 trading pairs. Choose the pair, set the price and quantity, approve the token if asked, then confirm the order. Approval lets the exchange use that token for the order; it is a separate wallet transaction. You can check the order’s status in “My Orders.” Read the order preview before confirming. Check the price direction, the amount, the network, and any price range shown. If the order uses a range, think about what happens at both ends, not only the price where it starts. Biswap’s V3 documentation describes its limit orders as having a 0% trading fee. That does not make the transactions free: the network charges gas, a fee paid to process actions on-chain. You may need to pay it when approving or placing an order, and again when cancelling or completing an action. BscScan’s gas tracker shows that network gas prices change, so check your wallet’s fee estimate before confirming. ### Why might it only fill partly, or change back? A price touch does not guarantee a complete fill. There may not be enough usable liquidity for your whole amount, or the price may move through the range quickly. Biswap’s documentation warns that volatile prices can leave an order partly filled. A common mistake is treating a price range like a one-way sell button. In the example above, if the price later falls below 300 USDT, the position can become BNB again. Before confirming, check whether your chosen order changes direction if the price reverses, and cancel it if you no longer want that outcome. After placing an order, check its status and remaining amount in the exchange interface. If you need proof that a transaction went through, look up its transaction record on BscScan, the BNB Smart Chain explorer. A submitted order can still be pending, partially filled, or cancelled; those statuses mean different things. Use a market swap when you need to trade now and accept the quoted price. Use a limit order when your chosen price matters more than immediate execution. Set the price carefully, understand the order’s range, and leave enough network currency for fees. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. 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