Order Types¶

Sera supports several order types to suit different trading strategies.

Limit Orders¶

Limit orders let you specify the exact price at which you want to buy or sell. They sit on the order book until filled, cancelled, or expired.

• Requires Vault deposit — collateral is frozen when the order is placed
• Settlement gas is paid on chain by the relayer executor; see Fees.
• Supports partial fills
• Amend an order by cancelling it and submitting a new signed order

For the full guide, see Limit Orders.

Instant Swaps¶

Swaps execute immediately at the best available price. They are Fill-or-Kill — either the full amount executes or the swap is rejected.

• No pre-funded Vault required — the signed route can pull the exact input amount from your wallet at execution time
• Execution gas is included in the quote; separate wallet transactions such as approve still require network gas.
• Choose gas mode: receive_less (deducted from output) or pay_more (added to input)

For the full guide, see Swap Trading.

Virtual Liquidity Batches¶

VL batches share one collateral budget across distinct markets. Off-chain accounting reserves the maximum individual order cost and reduces or cancels siblings as budget is consumed. Duplicate and inverse markets are rejected. Read the active size limits from GET /config → limits.vl_batch (default 2–50).

For the full guide, see Virtual Liquidity.

Choosing the Right Order Type¶