Order Limits and Price Bands

Order Limits

1. Orders that would have a price impact of 25% or larger can't be sent through opposite side of the order book.
   • Orders too far through the order book get their prices capped at the limit price
   • Market orders have the same price cap applied -- this means that it's possible to get partially filled on a market order if liquidity is low relative to the size of the order.
2.  Sum of open order sizes per side can’t be greater than max($1m, 1% of an ADV of the coin)