Limit orders can give your trading an edge but few decentralized exchanges support them. Check out new, improved limit orders on Matcha today!
Most of DeFi trading is swaps - simple market order trades that give you whatever price is available, settled in seconds. Swaps are at the heart of a world where tokenized value flows freely. But when you swap, you’re a taker - you can only choose the best price from what others are offering.
What if the asset price dips overnight, or next week? If you don’t want to miss out, you’ll want to set a Limit Order instead. With limit orders, you become a maker: you set the price, provide the liquidity, and wait for a buyer. Limit orders are free to create and have no slippage on execution!
Limit orders have been part of Matcha since the beginning, giving you the best of both worlds. Now, limit orders in Matcha have been refreshed to give you even more control over your trades. Redefining DeFi, we’ve melted away any friction between you and your order with some UX magic and smart contract logic. Try the new limit orders now at matcha.xyz!
Using Limit orders
Before we dive into the changes, check out how easy it is to set a limit order, using the Limit tab of the trading widget. Just set a price, sign a message, and your order is ready. Best of all, it doesn’t cost gas and won't cause price slippage!
Setting limit orders is an essential part of crypto trading. They give you price control, protection from MEV, and let you catch price movements in your sleep! Keep on reading to see how we've made it even smoother to trade crypto on Matcha.
Limit orders are currently available on Ethereum, Polygon and Binance Smart Chain!
More control over trade rates
The best thing about limit orders is that you set the rate you’re willing to pay. New price shortcuts make it easy to set limit orders at a fixed percentage above or below market price, making it simpler to set your limits without triple-checking every trade.
You can have even more control over price with two-way assets rates, allowing you to price your limit in either asset as shown in the GIF above. For a limit order where you are trading WETH/USDC, for example, you can choose to calculate the rate as either USDC/WETH or WETH/USDC, giving you the ultimate flexibility and control.
Lock down exact amounts
Want a more intuitive way to set limit orders? You've got it. Now you can say how much you want to Sell, lock it down, and specify how much you want in return. Finally you can Buy an exact amount of tokens, no need to mess with calculations or long significant figures!
Once you lock in the Sell amount, you can change either the Buy amount or the Limit price to set a limit order that suits you perfectly.
Duplicate limit orders
Save time by instantly recreating an existing or past order using the new Repeat Order feature. Go to any past or current limit order in your Order History or Open Orders tab and select the Repeat Order button in the final column. This will duplicate your order with the same parameters set as the original, and the same Expiration time starting from when the new order is created.
Order batch cancellation
Trading can sometimes feel like a rollercoaster. Stay in control with one finger on the emergency shutoff at all times. From your Open Orders tab, you can now cancel a batch of limit orders at once. This function will cancel one or more limit orders in a single on-chain transaction, so you can start from a clean slate.
To use the batch cancel feature to close all open orders, select the Cancel all button from the Open Orders tab. You will be prompted to confirm the action in a pop-up window. Note that there is a gas cost to cancel each order. You can also select specific orders to close using the checkbox next to the order, then Cancel selected. You will be prompted to confirm that you really want to cancel the number of orders you selected. See more about how to cancel a limit order on Matcha Help Center.
Designed to keep you in the flow
Too much clutter increases mental load and adds friction to the user experience, so we’ve expanded the layout of Matcha’s Limit Orders to improve the overall visual hierarchy, adding more horizontal real estate for limit rates and keeping everything within reach.
We're building Matcha to make your trading frictionless. Many of the Limit Order improvements we've rolled out recently started as a suggestion sent through our feedback system, sent by real users like you! Tell us what we can do to make Matcha better by clicking the Give feedback button using our on-page chatbot, next time you visit Matcha.
Adding to the more prominent improvements above, we’ve brought other bug fixes and usability improvements to Matcha that will make it even smoother to work with Limit Orders, right down to how you enter asset amounts into the input fields. Keep an eye on this blog and follow Matcha on social media as we'll soon be adding even more exciting improvements to limit orders!