How to execute market buy using the USD-M Futures Trade GUI?

[p-i]

Apologies for such a basic question.

I have $95 of USDT in my Futures balance.
Suppose I’m trying to buy some UNFI.

First test is to market-buy. That’s the simplest operation I can imagine.

So, I set margin to 2x, click ‘Market’, set the slider to 2 UNFI and click Buy/Long

This is my first surprise. Shouldn’t a market order go through immediately?

Instead, I now have an open position:

Under “Close All Positions” I see two clickables: “Market”, “Limit”
I guess this means if I simultaneously have open market and limit positions I can cancel each group separately.

But how can a market order even appear here? Cancelling a market order…? How does that even make sense? I thought “Market Order” means “Take from the orderbook at market price”

[p-i]

I see I was confusing “Open Orders” with “Positions”

The order DID complete.
But Futures doesn’t work the same way as Spot.
In Spot I would see a list of my coins and associated balances.
But in Futures, each coin I hold is an “Open Position” which is distinct from an “Open Order”.

[tantialex]

Both Spot and Futures have the concept of Orders and Positions.

An open order is an order which is still active, empty or partially filled, and usually, such as the case with market orders they can be instantly filled.

Once an order is filled or partially filled, a position is appended to the account, defining the asset in question and it’s respective balance.

In Spot I would see a list of my coins and associated balances.

These are also known as Positions in SPOT.