Order Types on Hyperliquid

Hyperliquid supports market orders, limit orders, and TWAP orders through Auto. Each order type controls execution timing and price differently.

What Is a Market Order on Hyperliquid?

A market order executes immediately at the best available price on Hyperliquid's orderbook. Auto places a market order by default when you specify a direction without a target price.

"Long BTC with $200"

"Short ETH"

Best for: Entering or exiting positions quickly when immediate execution matters more than exact price.

What Is a Limit Order on Hyperliquid?

A limit order sets a specific entry price and waits on the orderbook until the market reaches that price. The order only fills at your specified price or better.

"Long BTC at $92,000 with $200"

"Short SOL at $180"

Best for: Getting a better entry price when you are willing to wait for the market to come to you.

What Is a TWAP Order on Hyperliquid?

A TWAP (Time-Weighted Average Price) order splits a large trade into smaller sub-orders executed at intervals over a specified duration. TWAP minimizes market impact by spreading execution across time.

"TWAP buy $5,000 of BTC over 10 minutes"

"Place a TWAP order for $2,000 BTC long"

TWAP order rules on Hyperliquid:

• Minimum total size: $50

• Minimum execution rate: $10 per minute

• Maximum duration: calculated from size (minimum $10/min rate)

• Sub-order frequency: approximately one every 30 seconds

Best for: Large positions ($50+) where spreading execution reduces slippage and market impact.

How to Modify or Cancel Orders on Hyperliquid

Auto modifies or cancels any resting order, including active TWAP orders, by asset name.

"Cancel my BTC order"

"Modify my ETH limit order to $3,200"

"Cancel my TWAP on SOL"

"Show my open orders"

Hyperliquid Order Type Comparison

Order Type	Use Case	Fills Immediately?	Price Control
Market	Quick entry or exit	Yes	No — fills at best available price
Limit	Specific price target	Only when market reaches your price	Yes — exact price or better
TWAP	Large trades ($50+)	Spread across time in sub-orders	Partial — each sub-order is a market order

Additional Order Details

• All orders on Hyperliquid execute gaslessly — no transaction fees beyond trading fees

• Limit orders remain on the orderbook until filled or manually canceled

• TWAP orders can be canceled mid-execution; only the remaining sub-orders are affected

• Auto reports order status in real time: submitted, resting, filled, or canceled