> For the complete documentation index, see [llms.txt](https://docs.finandy.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.finandy.com/trading/create-order-grid/order-types/floating-order.md).

# Floating order

**Floating Order** - Limit order with automatic price adjustment to the order book's extreme price. Suitable for instruments with large spreads and can improve entry price for illiquid currencies.

{% hint style="success" %}
This order type was developed by Finandy.
{% endhint %}

Let's explain how it works on **BTCUSDT**. \
To open a position, select **F** in the order creation panel and enter the order´s Volume or Amount.

<figure><img src="https://t24536365.p.clickup-attachments.com/t24536365/085abdeb-77f3-4534-9474-318be9504f30/image.png" alt=""><figcaption></figcaption></figure>

Extreme selling price **ASK** = <mark style="color:red;">`23 555.93`</mark>\
Extreme buying price **BID** = <mark style="color:red;">`23 555.32`</mark>\
Price tick size = <mark style="color:red;">`0.01`</mark>

The system creates a **LIMIT** order at chosen price <mark style="color:red;">`BID + 1 price step`</mark>\
In our example, order price = <mark style="color:red;">`23 555.32 + 0.01 = 23 555.33`</mark>

If our order is not fully executed and a limit order is placed above it by another market participant, the system will move our order above the current bid with a short waiting time specified in the settings. This process will continue until our order is either fully executed or cancelled according to the specified settings.

If the order is moved below the minimum limit during repositioning, the next repositioning will depend on the settings chosen. It may be equal to the minimum order size, or the order may be cancelled or left waiting at current price for execution.

System behavior when selling is similar, except that the initial order price is set = <mark style="color:red;">`ASK - 1 price step`</mark>

{% hint style="info" %}
A **floating order** allows you to quickly execute an order at the best price available.
{% endhint %}

## Floating order settings

{% content-ref url="/pages/WOx4rqpVtN2KKx7P3m1w" %}
[Floating order](/settings/settings/trading/floating-order.md)
{% endcontent-ref %}

## Additionally

#### Commission for Floating orders

The commission for Floating orders can be Taker (0.05%) or Maker (0.02%). Getting the lower Maker commission rate is not always guaranteed as it is a compromise to enter at a more favorable price.

**Do you have any questions? We can help in our Telegram Chat.**

{% embed url="<https://t.me/finandy>" %}