The 100 USDT limit doesn't fully explain how an order should behave.
GTC — the order remains active until it's filled or canceled.
IOC — it is executed immediately as much as possible; any remainder is canceled.
FOK — either the entire quantity is executed immediately, or nothing is executed.
Suppose the order book has only 30 of the 100 required contracts available.
GTC can wait for the rest.
IOC will take 30 and cancel 70.
FOK will not execute the order at all.
For TradFi Perps, these aren't cosmetic abbreviations. They determine whether I'm okay with partial fills, waiting, or a complete refusal to execute the trade.
Price tells you “where.” Time in Force tells you “how exactly.”
GTC — the order remains active until it's filled or canceled.
IOC — it is executed immediately as much as possible; any remainder is canceled.
FOK — either the entire quantity is executed immediately, or nothing is executed.
Suppose the order book has only 30 of the 100 required contracts available.
GTC can wait for the rest.
IOC will take 30 and cancel 70.
FOK will not execute the order at all.
For TradFi Perps, these aren't cosmetic abbreviations. They determine whether I'm okay with partial fills, waiting, or a complete refusal to execute the trade.
Price tells you “where.” Time in Force tells you “how exactly.”