# Limit Order

A Limit order is an order to buy or sell a given asset at a specified (or better) price. A limit order to buy will only execute at the limit price or lower, and a limit order to sell will only execute at the limit price or higher.

## How to Place a Limit Order

1. Select the assets you want to put set a limit order for in the **From** and **To** sections using the dropdown menu.

![](https://1871265802-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FFE2YIboXbeBUeQFDqmkS%2Fuploads%2FERDX3pwdoV1y0YP5fSCl%2FScreen%20Shot%202022-11-08%20at%2013.52.05.png?alt=media\&token=7475bd17-1ca4-4368-b0b8-741dfbd66379)

3. Enter the amount of token you want to trade in the **From** section (e.g. 100 RPG).

![](https://1871265802-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FFE2YIboXbeBUeQFDqmkS%2Fuploads%2FdCkBhPbETRruecOL4MoQ%2FScreen%20Shot%202022-11-08%20at%2014.22.27.png?alt=media\&token=87978e50-bbf6-4fbd-9034-11aa778a11e0)

4. Set the rate you want the order to be executed at in the **Rates** section.

![](https://1871265802-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FFE2YIboXbeBUeQFDqmkS%2Fuploads%2FT5Ms8THUgwtAYyMmWyQX%2FScreen%20Shot%202022-11-08%20at%2014.24.34.png?alt=media\&token=882eefc4-dc66-47ba-9392-b11f45438d39)

5. Set a time limit for your order in the **Expires In** section.&#x20;

![](https://1871265802-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FFE2YIboXbeBUeQFDqmkS%2Fuploads%2FV438j7TEHJnrBslj6FsX%2FScreen%20Shot%202022-11-08%20at%2014.26.10.png?alt=media\&token=f14e7c80-cdcc-43eb-a416-fa07f414e590)

6. If your order has not been fulfilled by the expiration date, it will be canceled automatically. You can also check your order and manually cancel it on the **Open Orders** page.

<figure><img src="https://1871265802-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FFE2YIboXbeBUeQFDqmkS%2Fuploads%2FzUxCVuJdZFg8JSPCT3pU%2Fimage.png?alt=media&#x26;token=21ede77d-25c7-4901-976c-4626d3be70fa" alt=""><figcaption></figcaption></figure>

## FAQs

<details>

<summary>Why was my order not executed?</summary>

Your order may fail to execute due to the following reasons:

* Due to price impact, the entire order could not be filled at the desired price.
* The limit order contains a token that requires a certain gas fee upon transfer.

In most cases, the execution price and the desired price should be the same. However, due to gas fee fluctuations, the actual execution price of limit orders may differ from the price shown on your end. For a small order (\~<$1000), the execution price may be slightly higher to cover the fee.&#x20;

**Please check the execution price carefully before submitting an order.**

</details>

<details>

<summary>How do I set slippage while using limit orders?</summary>

Limit orders will not be affected by slippage.&#x20;

When you specify input amount (e.g. 1000 RPG) and output amount (e.g. 20 HEROES), it is garanteed by the limit orders that you will receive no less than the specified output amount (20 HEROES) if the price for the pair reaches the desired price.&#x20;

Please note that tokens with fees on transfer should not be used with limit orders (see previous answer).

</details>

<details>

<summary>The real execution price shows "never executes".  What's this?</summary>

This means that the token amount you are swapping is too small to be accounted for the gas fee. The problem can be resolved by increasing the amount you entered in the **From** section.

</details>

<details>

<summary>Is there an expiration date for my limit orders?</summary>

**Yes.** The limit order will be canceled on the expiration date set by the user. It can also be manually canceled before the due date.

</details>

<details>

<summary>Why is my order not shown in the order table/stuck at “pending” status?</summary>

The order history could be slightly delayed for a few minutes since it comes from a subgraph. Please refer to the subgraph indicator at the bottom right corner of the order history table.

</details>

## Have More Questions?&#x20;

Click [here](https://ponytaswap.gitbook.io/ponytaswap/contact-us) to contact us for further assistance!&#x20;
