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Glossary

Market order

An order to trade immediately at whatever price the book offers. Certain to fill, uncertain in price, and always charged the taker fee.

Checked against the Hyperliquid documentation 8 Sept 2026 · how we check

Related terms

  • Limit order An order to trade at a specified price or better. It rests on the book until filled or cancelled, which is what earns the maker fee.
  • Slippage The difference between the price you expected and the price you got. It comes from order book depth, not from fees, and on thin markets it dwarfs the fee.

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