When you place buy or sell orders into the system, Bitkub will send your orders to the order book and wait for matching. Bitkub has a criteria to prioritize the orders as follows.
We use a first-in-first-out (FIFO) system to prioritize buy-sell orders for both Limit Order and Market Order. Normally, the system will sort the buy orders with highest prices first. However, if there are new higher bid and ask orders, Bitkub will sort these new orders instead. This also applies to sell orders. The sell orders with lowest prices will be prioritized. Moreover, Bitkub will prioritize on a timestamp basis if there is more than one order at the same price.
In the case of Stop Limit Order, when the price reaches the stop-limit spot, the system will automatically send a Limit Order to match the specified prices of buy-sell orders. Likewise, Limit Order and Market Order which prioritize on a timestamp basis.
In short, Bitkub will match buy-sell orders in the order book sequentially which prioritizes as follows.
- Best orders prices
- Earlier submitted orders
Thank you for choosing Bitkub