A chase order is a type of limit order that automatically adjusts its price based on the current best bid or best ask in the market. The order continues to update its price until it’s filled, canceled, or reaches the preset maximum chase distance.
Advantages of chase order
Checklist
- Always keep "post-only" orders.
- Modify or cancel orders: After placing an order, you cannot manually change the price settings, order quantity, or maximum chase difference.
- How to use a chase order?
- Step 1: Go to the Trading page, select the order type, and click on "Chase order".
- Step 4: You can view your chase order on the Open Orders page, marked with a "Chase" label.
Notes
Price update frequency: every second.
Advantages: Lower transaction fees and faster fill speed.
Reduce-only:
One-way mode: allows you to place reduce-only orders, and this option can be turned on or off manually.
Details follow the official OKX help article; this page is a learning checklist, not an official mirror.
