To prevent price manipulation and mitigate the risks of excessive market volatility, Gate has implemented price protection mechanisms for both limit orders and market orders in futures trading. These measures are designed to safeguard users' interests and help maintain a fair and stable trading environment.
Price Limits for Limit Orders
Gate applies price limits for futures limit orders based on percentage deviations from the mark price. These limits apply only to taker orders, while maker orders are not subject to these limits. The rules are as follows:
Long (Buy) Orders: Only the maximum order price is limited.
Maximum Order Price = Mark Price × (1 + X%)
Short (Sell) Orders: Only the minimum order price is limited.
Minimum Order Price = Mark Price × (1 – X%)
The order price limit varies by contract. You can view the specific information on the Contract Details page.
Example
Taking the BTCUSDT contract as an example: Assume the current mark price is 50,000 USDT, and the maximum allowed price deviation for this contract is 10%.
Maximum order price for long positions: 50,000 × (1 + 10%) = 55,000 USDT. Orders priced above 55,000 USDT cannot be placed.
Minimum order price for short positions: 50,000 × (1 – 10%) = 45,000 USDT. Orders priced below 45,000 USDT cannot be placed.
Notes
• For reduce-only orders, the order price must not exceed the bankruptcy price of the position.
• For orders that increase the position, the order price must not exceed the estimated liquidation price of the position.
• In extreme market conditions, the position may still be liquidated immediately after the order is filled. To reduce risk, consider lowering the leverage before trading.
• The order price limits may adjust dynamically based on market conditions. Please stay updated via the Contract Details page.
Market Order Slippage Limits and Maximum Order Size
For market orders, Gate sets a maximum slippage and a maximum order size per order (in contracts) for each contract. If either the slippage or order size exceeds the applicable limit at the time of order placement, the system will terminate the remaining portion of the order. Any portion that has already been executed will not be affected. Users may continue placing orders in batches, provided that position risk limits are not exceeded.
The rules are as follows:
Long (Buy) Market Orders: Maximum Acceptable Fill Price = Best Ask Price × (1 + X%), or Maximum Acceptable Fill Amount = Y Contracts.
Short (Sell) Market Orders: Minimum Acceptable Fill Price = Best Bid Price × (1 – X%), or Maximum Acceptable Fill Amount = Y Contracts.
The slippage limits and maximum order sizes vary by contract. You can view the specific information on the Contract Details page.
Example
Taking the BTCUSDT contract as an example: Assume the current order book is as follows, with a market order slippage limit of 2% and a maximum market order size of 120 contracts.
| Price | Amount (Contracts) | Cumulative Amount (Contracts) | |
|---|---|---|---|
| Ask 5 | 51,500 | 60 | 210 |
| Ask 4 | 51,000 | 50 | 150 |
| Ask 3 | 50,800 | 40 | 100 |
| Ask 2 | 50,500 | 30 | 60 |
| Ask 1 | 50,000 | 20 | 30 |
| Bid 1 | 49,900 | 10 | 10 |
If a user places a 200-contract market buy order, the maximum acceptable fill price is 50,000 × (1 + 2%) = 51,000 USDT, and the maximum acceptable fill amount is 120 contracts.
Execution Process:
The order is filled at 50,000, 50,500, and 50,800 USDT for a total of 100 contracts. The remaining 20 contracts are filled at 51,000 USDT. Once the 120-contract limit is reached, the system stops further execution.
Notes
• If execution is halted due to slippage or order size limits, only the unfilled portion is affected, and any filled trades remain valid.
• Once either the slippage limit or maximum order size is reached, the system immediately terminates the remaining portion of the market order.
• Market order slippage limits and maximum order sizes are dynamically adjusted based on market conditions. Please refer to the latest information on the Contract Details page.
Gate reserves the final right to interpret the product. For further assistance, please visit the Gate official support page or contact our customer support team.
