Orders Overview

Every order on Openfish is fundamentally a limit order. What people call a “market order” is simply a limit order priced aggressively enough to fill on arrival. Orders are EIP-712 signed payloads matched offchain, with optional onchain settlement.

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Order Types

Type	Behavior	Use Case
GTC (Good-Til-Cancelled)	Rests on the book until filled or cancelled	Passive limit orders
GTD (Good-Til-Date)	Active until a specified expiration timestamp (UTC seconds)	Auto-expire before events
FOK (Fill-Or-Kill)	Must fill immediately and entirely, or the whole order is cancelled	All-or-nothing execution
FAK (Fill-And-Kill)	Fills as many shares as available immediately, cancels the rest	Partial immediate execution

• GTC and GTD are resting types — they park on the book at your chosen price until something matches them.
• FOK and FAK are immediate-execution types that consume resting liquidity.
  • BUY: specify the dollar amount to spend
  • SELL: specify the number of shares to sell

Post-Only Orders

Post-only orders guarantee you act as a maker. Should the order cross the spread and trigger an immediate fill, it is rejected instead.

• Only valid with GTC and GTD order types
• Combining post-only with FOK or FAK causes rejection
• Rejection returns status CANCELED with no partial fills

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Tick Sizes

Each market defines a minimum price increment. An order whose price is not an exact multiple of the tick size is rejected with price {p} violates tick size {t}.

Tick Size	Precision	Example Prices
0.1	1 decimal	0.1, 0.2, 0.5
0.01	2 decimals	0.01, 0.50, 0.99
0.001	3 decimals	0.001, 0.500, 0.999
0.0001	4 decimals	0.0001, 0.5000, 0.9999

The server validates tick size compliance via price % tick_size == 0 before submitting to the engine. The default tick size is 0.01 (2 decimal places).

// The SDK auto-fetches tick size when building orders.
// To query manually:
let tick = client.tick_size(token_id).await?;

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Order States

Status	Description
LIVE	Order is resting on the book with unfilled size remaining
MATCHED	Order has been fully filled
CANCELED	Order was cancelled by the user, rejected (post-only crossing), or expired (GTD)

A partially filled order with remaining size stays in LIVE status. The size_matched field tracks how much has been filled so far.

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Neg Risk (Multi-Outcome Markets)

Markets with three or more outcomes rely on the Neg Risk CTF Exchange contract. The neg_risk flag on the market object signals this. The Rust SDK identifies neg risk markets automatically from the token ID and routes orders to the appropriate exchange contract.

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Balance Checks

Before accepting an order, the server confirms the funder holds enough:

• BUY orders: USDC collateral must cover size * price + estimated_max_fee
• SELL orders: Conditional token balance must cover size

Available balance subtracts what is already locked in open orders:

maxOrderSize = balance - SUM(openOrderSize - filledAmount)

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Querying Orders

All query endpoints require L2 authentication.

Get a Single Order

let order = client.order("ORDER_ID").await?;
println!("{:?}", order);

REST:

GET /data/order/{order_id}

Get Open Orders

use openfish_client_sdk::clob::types::request::OrdersRequest;

// All open orders
let orders = client.orders(&OrdersRequest::default(), None).await?;
println!("{} open orders", orders.data.len());

// Filtered by market
let request = OrdersRequest::builder()
    .market("CONDITION_ID".parse()?)
    .build();
let market_orders = client.orders(&request, None).await?;

REST:

GET /data/orders

OpenOrder Object

Field	Type	Description
id	string	Order ID (UUID)
status	string	LIVE, MATCHED, or CANCELED
market	string	Condition ID
asset_id	string	Token ID
side	string	BUY or SELL
original_size	string	Size at placement
size_matched	string	Cumulative filled amount
price	string	Limit price
outcome	string	Outcome label (e.g., “Yes”, “No”)
order_type	string	GTC, GTD, FOK, or FAK
maker_address	string	Funder address
owner	string	API key of the order owner
expiration	string	Unix expiration timestamp (0 if none)
created_at	number	Unix creation timestamp

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Trade History

Each matched order generates a trade. Trades move through these lifecycle stages:

Status	Terminal	Description
MATCHED	No	Matched and pending settlement
MINED	No	Submitted onchain, awaiting finality
CONFIRMED	Yes	Finalized successfully
RETRYING	No	Transaction failed, being retried
FAILED	Yes	Failed permanently

use openfish_client_sdk::clob::types::request::TradesRequest;

let trades = client.trades(&TradesRequest::default(), None).await?;
for trade in &trades.data {
    println!("{}: {} {} at {}", trade.id, trade.side, trade.size, trade.price);
}

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Error Messages

Error	Description
price {p} violates tick size {t}	Price is not a multiple of the market’s tick size
insufficient USDC balance	Funder lacks USDC for a BUY order
insufficient token balance	Funder lacks tokens for a SELL order
your region is close-only	Geographic restriction: only SELL orders allowed

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Next Steps

• Create Order — Build, sign, and submit orders -> create
• Cancel Order — Cancel single, batch, or all orders -> cancel