What Is a Limit Order? Trading Prediction Markets with Price Control
A limit order lets you specify the exact price at which you want to buy or sell prediction market shares. Your order only fills at your price or better.
Definition
A limit order is an instruction to buy or sell shares at a specific price or better. Unlike a market order (which fills immediately at whatever price is available), a limit order guarantees your execution price but may not fill immediately — or at all.
How Limit Orders Work
- Limit buy at $0.60 — your order will only fill at $0.60 or lower. If the current ask is $0.65, your order sits in the book until the price drops.
- Limit sell at $0.75 — your order will only fill at $0.75 or higher. If the current bid is $0.70, your order waits.
When to Use Limit Orders
- You have a specific price target — you believe YES shares are worth $0.55 and want to buy only at that price.
- You want to avoid slippage — large market orders can move the price against you. Limits prevent this.
- You are providing liquidity — market makers exclusively use limit orders.
Limit Orders on Purrdict
Purrdict supports limit orders natively through Hyperliquid’s CLOB. You can place limit orders at any price from $0.01 to $0.99 on any prediction market, with no minimum order size.