I want my BiyaPay spot limit order to rest on the order book. Why does Maker Only cancel the entire order?

You’ve set the price and quantity for a spot order and want it to enter the order book as a maker order only, but after submitting it, you see that it was canceled. First, check whether you selected Maker Only, then verify the order side and the opposing side of the order book. BiyaPay’s Advanced Limit order supports this option. If your order would immediately match an existing order when submitted, the system cancels it according to the rules. This means the order did not meet the execution requirements for a maker-only order.

In the Spot trading section of the app, open a trading pair that is currently supported by your account, then open the default order type and select Maker Only under the advanced limit options. On the web, you can also check the order types from the trading page. Before entering an order, read the assets shown in the trading pair and quantity fields, then set the buy or sell direction and limit price you have decided on. The examples here use a fictional USDT-quoted trading pair to explain how orders work. Check the platform page to see whether a particular trading pair is actually available.

Suppose the best ask is 10.02 USDT per unit, with two units available to sell. A user wants to buy five units at 10.03 USDT and still selects Maker Only. If the order reaches the market while the order book is still in this state, the existing sell orders could immediately execute part of it at a price the user accepts. In this case, the Maker Only rule cancels the entire order. It will not execute two units first and place the remaining three in the order book. You can compare this outcome with the actual order status to avoid assuming that at least part of the order was processed just because the order quantity shows five units.

Using the same order book, if a buy order is submitted at the lower price of 10.00 USDT, it does not reach the lowest existing ask in this example. If it still meets the system's conditions at that time, the order can enter the order book as a resting order under the rules. It will still need to wait for a counterparty to match it. If the user only wants to know what happened when the order was submitted, the order status shows the result. Subsequent execution, if any, will be shown in later order records.

For a sell order, check the other side of the order book. Suppose the best bid is 9.99 USDT and the user's sell limit price is 9.98 USDT. The current best bid already meets the minimum price requirement for this sell order. If there is still executable quantity when the order arrives, a Maker Only order will be canceled under the post-only rule. When reviewing examples like this, you can note “check asks for buys, bids for sells” next to the prices to avoid using quotes from the same side to explain both directions.

There may be a time lag between a screenshot and the actual order. For example, you might first see the best ask at 10.02 USDT and enter an order at 10.00 USDT, but by the time you actually submit it, the best ask may have fallen to 10.00 USDT, making an immediate match possible. You can keep a record of the time at which you saw the order book, then check the actual result of the system's processing of the order. An earlier screenshot can help explain why you entered the order that way, but the final order status should be read according to what actually happened during the execution period.

The order book may also show no quantity that meets the limit price. In that case, first check the actual page records to see whether the counterparty price was visible, then check the order's actual status. If the page does not provide enough data from the time the order was submitted, describe immediate matching as a possibility and retain the order type and actual status as verified information.

If you submit two similar orders in succession, use the order times to identify each one separately. The first order can be canceled while the second enters the order book, because market quotes and counterparty quantities may have changed between the two orders.

If you have both a regular limit order and a Maker Only order, identify each order type separately when reviewing them. A regular limit order executes at the specified price or a better price, while Maker Only also requires that the order not match immediately when submitted. The two orders can have exactly the same numbers but still be subject to different rules. BiyaPay places the relevant option under Spot order types, allowing users to specify their chosen execution preference before submitting an order and then check the corresponding order status afterward to see the result.