Orderly Network: Trading Orders

This skill covers all aspects of order management on Orderly Network - placing, modifying, and canceling orders through REST API and React SDK.

When to Use

Building a trading interface
Implementing order placement logic
Managing order lifecycle
Creating automated trading bots

Prerequisites

Orderly account registered
Ed25519 API key with trading scope
Sufficient collateral in account

Order Types

Type	Description	Use Case
`LIMIT`	Order at specific price	Precise entry/exit
`MARKET`	Execute at best available price	Immediate execution
`IOC`	Immediate-or-Cancel	Partial fill acceptable
`FOK`	Fill-or-Kill	All or nothing
`POST_ONLY`	Maker-only order	Earn maker rebates
`ASK`	Best ask price guaranteed	Quick sell
`BID`	Best bid price guaranteed	Quick buy

REST API: Place Order

Endpoint

POST /v1/order

Request Body

interface OrderRequest {
  symbol: string; // e.g., "PERP_ETH_USDC"
  side: 'BUY' | 'SELL';
  order_type: 'LIMIT' | 'MARKET' | 'IOC' | 'FOK' | 'POST_ONLY' | 'ASK' | 'BID';
  order_price?: number; // Required for LIMIT orders
  order_quantity: number; // Base asset quantity
  visible_quantity?: number; // For hidden orders (0 = hidden)
  client_order_id?: string; // Your custom ID
  trigger_price?: string; // For stop orders
}

Example

import { signAsync } from '@noble/ed25519';

async function placeOrder(order: OrderRequest) {
  const timestamp = Date.now();
  const body = JSON.stringify(order);
  const message = `${timestamp}POST/v1/order${body}`;

  const signature = await signAsync(new TextEncoder().encode(message), privateKey);

  // Encode as base64url (browser & Node.js compatible)
  const base64 = btoa(String.fromCharCode(...signature));
  const base64url = base64.replace(/\+/g, '-').replace(/\//g, '_').replace(/=+$/, '');

  const response = await fetch('https://api.orderly.org/v1/order', {
    method: 'POST',
    headers: {
      'Content-Type': 'application/json',
      'orderly-timestamp': String(timestamp),
      'orderly-account-id': accountId,
      'orderly-key': `ed25519:${publicKeyBase58}`,
      'orderly-signature': base64url,
    },
    body,
  });

  return response.json();
}

// Place a limit buy order
const order = await placeOrder({
  symbol: 'PERP_ETH_USDC',
  side: 'BUY',
  order_type: 'LIMIT',
  order_price: 3000,
  order_quantity: 0.1,
});

React SDK: useOrderEntry

The SDK provides a convenient hook for order entry:

import { useOrderEntry, OrderSide, OrderType } from '@orderly.network/hooks';

function OrderForm({ symbol }: { symbol: string }) {
  const {
    submit,
    setValue,
    getValue,
    helper,
    reset,
    isSubmitting
  } = useOrderEntry(symbol, {
    initialOrder: {
      side: OrderSide.BUY,
      order_type: OrderType.LIMIT,
      price: '',
      order_quantity: '',
    },
  });

  const handleSubmit = async (e: React.FormEvent) => {
    e.preventDefault();

    // Validate before submission
    const validationResult = await helper.validate();
    if (!validationResult) {
      console.error('Validation failed');
      return;
    }

    try {
      await submit();
      reset();
      console.log('Order placed successfully');
    } catch (error) {
      console.error('Order failed:', error);
    }
  };

  return (
    <form onSubmit={handleSubmit}>
      <select
        onChange={(e) => setValue('side', e.target.value as OrderSide)}
        value={getValue('side')}
      >
        <option value={OrderSide.BUY}>Buy</option>
        <option value={OrderSide.SELL}>Sell</option>
      </select>

      <select
        onChange={(e) => setValue('order_type', e.target.value as OrderType)}
        value={getValue('order_type')}
      >
        <option value={OrderType.LIMIT}>Limit</option>
        <option value={OrderType.MARKET}>Market</option>
      </select>

      <input
        type="text"
        placeholder="Price"
        value={getValue('price') || ''}
        onChange={(e) => setValue('price', e.target.value)}
      />

      <input
        type="text"
        placeholder="Quantity"
        value={getValue('order_quantity') || ''}
        onChange={(e) => setValue('order_quantity', e.target.value)}
      />

      <button type="submit" disabled={isSubmitting}>
        {isSubmitting ? 'Placing...' : 'Place Order'}
      </button>
    </form>
  );
}

Order Validation

Before submission, validate order parameters:

// Get order rules for a symbol
const rulesResponse = await fetch('https://api.orderly.org/v1/public/info/PERP_ETH_USDC');
const rules = await rulesResponse.json();

/*
Rules include:
- base_min: Minimum order size
- base_max: Maximum order size
- base_tick: Size increment
- quote_min: Minimum price
- quote_max: Maximum price
- quote_tick: Price increment
- min_notional: Minimum order value
*/

function validateOrder(order: OrderRequest, rules: OrderRules): boolean {
  // Price filter
  if (order.order_price) {
    const price = parseFloat(order.order_price);
    if (price < rules.quote_min || price > rules.quote_max) {
      throw new Error('Price out of range');
    }
    if ((price - rules.quote_min) % rules.quote_tick !== 0) {
      throw new Error('Invalid price tick');
    }
  }

  // Size filter
  const quantity = parseFloat(order.order_quantity);
  if (quantity < rules.base_min || quantity > rules.base_max) {
    throw new Error('Quantity out of range');
  }
  if ((quantity - rules.base_min) % rules.base_tick !== 0) {
    throw new Error('Invalid quantity tick');
  }

  // Min notional
  const notional = (parseFloat(order.order_price) || 0) * quantity;
  if (notional < rules.min_notional) {
    throw new Error(`Minimum order value is ${rules.min_notional}`);
  }

  return true;
}

Cancel Orders

Cancel Single Order

// REST API
DELETE /v1/order?order_id={order_id}&symbol={symbol}

// React SDK
import { useOrderStream } from '@orderly.network/hooks';

function OrderList() {
  const [orders, { cancelOrder }] = useOrderStream({
    status: OrderStatus.INCOMPLETE,
  });

  return orders.map((order) => (
    <div key={order.order_id}>
      {order.symbol} - {order.side} - {order.order_qty}
      <button onClick={() => cancelOrder(order.order_id)}>
        Cancel
      </button>
    </div>
  ));
}

Cancel All Orders

// REST API - Cancel all open orders
DELETE /v1/orders?symbol={symbol}  // Optional symbol filter

// React SDK
const [orders, { cancelAllOrders }] = useOrderStream();

await cancelAllOrders(); // Cancel all
await cancelAllOrders({ symbol: 'PERP_ETH_USDC' }); // Cancel for specific symbol

Cancel by Client Order ID

DELETE /v1/client/order?client_order_id={client_order_id}&symbol={symbol}

Batch Orders

Place or cancel multiple orders in a single request:

// Batch create (max 10 orders)
POST /v1/batch-order
Body: {
  orders: [
    { symbol: 'PERP_ETH_USDC', side: 'BUY', order_type: 'LIMIT', order_price: 3000, order_quantity: 0.1 },
    { symbol: 'PERP_BTC_USDC', side: 'BUY', order_type: 'LIMIT', order_price: 50000, order_quantity: 0.01 }
  ]
}

// Batch cancel (max 10 orders)
DELETE /v1/batch-order?order_ids={id1},{id2},...

// Example
const batchResponse = await fetch('https://api.orderly.org/v1/batch-order', {
  method: 'POST',
  headers: { /* auth headers */ },
  body: JSON.stringify({
    orders: [
      { symbol: 'PERP_ETH_USDC', side: 'BUY', order_type: 'LIMIT', order_price: 3000, order_quantity: 0.1 },
      { symbol: 'PERP_BTC_USDC', side: 'BUY', order_type: 'LIMIT', order_price: 50000, order_quantity: 0.01 }
    ]
  }),
});

Edit Orders

Modify price or quantity of an existing order:

// REST API
PUT /v1/order
Body: {
  order_id: '123456',
  order_price: '3100',      // New price
  order_quantity: '0.2',    // New quantity
}

Order Stream (Real-time)

Monitor orders in real-time:

import { useOrderStream, OrderStatus } from '@orderly.network/hooks';

function OrderMonitor() {
  const [orders, { cancelOrder }] = useOrderStream({
    status: OrderStatus.INCOMPLETE,
  });

  return (
    <table>
      <thead>
        <tr>
          <th>Symbol</th>
          <th>Side</th>
          <th>Price</th>
          <th>Quantity</th>
          <th>Filled</th>
          <th>Status</th>
          <th>Action</th>
        </tr>
      </thead>
      <tbody>
        {orders.map((order) => (
          <tr key={order.order_id}>
            <td>{order.symbol}</td>
            <td>{order.side}</td>
            <td>{order.price}</td>
            <td>{order.order_qty}</td>
            <td>{order.filled_qty}</td>
            <td>{order.status}</td>
            <td>
              <button onClick={() => cancelOrder(order.order_id)}>
                Cancel
              </button>
            </td>
          </tr>
        ))}
      </tbody>
    </table>
  );
}

Algo Orders (Stop, TP/SL)

For Take-Profit and Stop-Loss orders, see the orderly-positions-tpsl skill.

// Basic algo order structure
POST /v1/algo/order
Body: {
  symbol: 'PERP_ETH_USDC',
  type: 'CLOSE_POSITION',
  algoType: 'TAKE_PROFIT',
  trigger_price: '3500',
  quantity: '0.1',
}

Rate Limits

Endpoint	Rate Limit
POST /v1/order	10 req/sec
DELETE /v1/order	10 req/sec
PUT /v1/order	10 req/sec
POST /v1/batch-order	1 req/sec
DELETE /v1/batch-order	10 req/sec

Order Status Flow

NEW → PARTIAL_FILLED → FILLED
                    ↘ CANCELLED
         ↘ REJECTED (invalid orders)
         ↘ EXPIRED (GTD orders)

Common Issues

"Insufficient margin" error

Check free collateral: GET /v1/client/holding
Reduce order size or add collateral

"Price out of range" error

Order price must be within price_range of mark price
For BUY: price ≤ mark_price × (1 + price_range)
For SELL: price ≥ mark_price × (1 - price_range)

"Invalid tick size" error

Price must be multiple of quote_tick
Quantity must be multiple of base_tick

Order rejected immediately

Check GET /v1/public/info/{symbol} for order rules
Verify min_notional, price range, size limits

Related Skills

orderly-api-authentication - How to sign requests
orderly-positions-tpsl - Managing positions and TP/SL
orderly-websocket-streaming - Real-time order updates
orderly-sdk-react-hooks - Full SDK reference

orderly-trading-orders