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Every OCX market runs a central limit order book (CLOB) with price-time priority: the best price trades first, and at the same price the earlier order trades first. This page covers the order options you can set, what happens across an order’s life, and how fees are charged.

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Order options

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string
limit rests at a price you set. market executes immediately against the book and never rests.
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string
buy or sell.
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string
A whole number of contracts.
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string
gtc rests until filled or cancelled, ioc fills what it can immediately then cancels the rest, fok fills fully or not at all.
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boolean
Rejects the order if it would take liquidity — guarantees you stay on the maker side.
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boolean
Rejects the order if it would increase your position — use it for exit-only orders.
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string
Your own id. Resending the same order with the same id returns the original result instead of placing a duplicate.
Futures orders additionally accept marginMode (isolated by default, or cross) and the conditional triggers stopPrice, stopLossPrice, and takeProfitPrice. An order with a trigger is held and submitted once the OCX order-book mid reaches the trigger — see Place an order.

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Preview before you trade

Both venues have a preview endpoint that dry-runs an order with no side effects. It returns the notional, the estimated fee, the margin required, and whether the order would be approved.

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Placing orders

Futures orders use /fut/orders. Option orders use /orders. Multi-leg option strategies use /orders/strategy.

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Multi-leg option strategies

Combine 2–8 option legs into a single strategy (for example a vertical spread or a straddle). Strategies sent to /orders/strategy are all-or-none and immediate: every leg must fully fill against the book or nothing executes.

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Order lifecycle

1

Submit

You place (or preview) an order. It passes a margin check before acceptance; if the only problem is collateral sitting elsewhere in your account, the gateway moves it and retries once.
2

Match or rest

A marketable order matches immediately against the book. Any unfilled remainder rests (gtc) or is cancelled (ioc); a fok order that cannot fill in full does not execute. A postOnly order that would take liquidity is rejected outright.
3

Fill

Each fill records its price, quantity, fee, and whether you were the maker or taker (liquidity). Fills update your position immediately.
4

Amend or cancel

Cancel one order by id or cancel all your orders in a market. Resting orders can be amended: POST /fut/orders/{id}/amend for futures and POST /options/orders/{id}/modify for options.
Cancellation endpoints:

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Fees

OCX charges a fixed fee per contract on each fill, in USDC. The rate depends on a volume tier: your combined futures and options volume over the last 30 days, counted in contracts (lots). Futures and options have separate schedules. Today the maker and taker rates are equal at every tier, and there are no maker rebates. Query the live schedules rather than hardcoding them:
Your own tier and rates are returned by GET /options/fees/me (session), and the fee for a specific order — including any rate specific to your account — by the order preview. A share of trading fees funds the insurance fund (insuranceFeeSharePct in the schedule).