Order would trigger immediately error

Q: I’m trying to place an order, but why received an error:

{
    "code": -2010,
    "msg": "Order would trigger immediately."
}

In simple word, as its said, the order can be matched/triggered immediately, but based on the order type, it should NOT.

This normally happens in some order types, we will give details for:

  • STOP_LOSS_LIMIT
  • TAKE_PROFIT_LIMIT (similar to STOP_LOSS_LIMIT)
  • LIMIT_MAKER

Let’s say we have this current market:

  • symbol: BNBUSDT
  • best ask price: 20
  • best bid price: 19

  1. STOP_LOSS_LIMIT

Alice want to place an stop loss limit order with these parameters:

  • side: SELL
  • stopPrice: 22
  • price: 17
  • timeInForce: GTC
  • quantity: 1
  • type: STOP_LOSS_LIMIT

She will see this error, Order would trigger immediately. as the stopPrice > best bid price.

Reduce the stopPrice to below the best bid price, e.g.

  • stopPrice: 15

Then the order will be placed successfully with a trigger condition of price <= 15. When price touch 15, one limit SELL order price = 17 will be placed.

  1. LIMIT_MAKER

this is easier to understand. Many traders wish to be the market maker in trading, one of the main reasons is its lower trading fee. But there is a risk when the order received by the matching system, the market price reaches to be able to fill this order. Then it will be consider as taker, but not maker.

To avoid that, set order type to LIMIT_MAKER to guarantee to be an open order in the market. otherwise the order will be reject with this similar error.

{
    "code": -2010,
    "msg": "Order would immediately match and take."
}