> For the complete documentation index, see [llms.txt](https://docs.nectarliquid.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.nectarliquid.com/trading/positions-and-order-types.md). # Positions and order types This page covers how pricing works on Nectar Liquid, how to open and manage positions, the available order types, and token swaps. #### Pricing on Nectar Liquid Nectar Liquid uses oracle voiced pricing rather than a traditional orderbook model. Understanding this structural difference is important when executing limit orders, stop loss orders, and other conditional order types across our trading environments. #### Oracle Prices: minPrice and maxPrice Nectar Liquid receives real time price data feeds directly from robust oracle network streams. Every asset report provides a tight bid and ask spread containing two foundational values: * minPrice: The lower bound of the oracle price spread, which represents the current market bid. * maxPrice: The upper bound of the oracle price spread, which represents the current market ask. The specific oracle price used for triggering and executing an order depends entirely on your position operation. | **Operation** | **Oracle Price Used** | **Operational Reasoning** | | -------------------------- | --------------------- | ----------------------------------------------------------------------------- | | Long Open | maxPrice | You execute at the higher ask price to enter a long position | | Long Close or Liquidation | minPrice | You execute at the lower bid price when exiting a long position | | Short Open | minPrice | You execute at the lower bid price to enter a short position | | Short Close or Liquidation | maxPrice | You execute at the higher ask price when buying back to exit a short position | #### Entry Price Your structural entry price is the exact oracle price utilized at the moment your order processes, using maxPrice for long positions and minPrice for short positions. Nectar Liquid does not apply price impact adjustments at entry. Instead, the entry price is recorded cleanly, and any accumulated net price impact is calculated and applied at the moment you close or decrease your size. Because this value represents the pure market price delivered directly by the oracle with no hidden adjustments, it is not listed separately inside the initial transaction receipt. #### Mark Price The mark price is defined as the absolute midpoint of the live oracle spread and is calculated using the following equation: $$ \text{Mark Price} = \frac{\text{minPrice} + \text{maxPrice}}{2} $$ The protocol utilizes the mark price exclusively for the following backend functions: * Rendering real time lines and metrics within the platform trading interface and candlestick charts. * Processing periodic funding rate equations. * Calculating price impact factors during asset deposits, token swaps, and position sizing adjustments. The mark price is never utilized by the smart contracts to trigger or execute individual trader orders. #### Trigger Price Evaluation This architecture represents a fundamental deviation from centralized or decentralized orderbook venues. On orderbook platforms, limit and stop orders fill when a counterparty matches your exact price level within a matching engine. On Nectar Liquid, there is no orderbook matching engine. Conditional trigger prices are evaluated directly against minPrice or maxPrice depending on your order direction, matching the exact pricing rules used for execution. For example, if you place a Stop Loss order at 3,900 USD for an open WETH long position, that order will trigger the moment the oracle minPrice touches 3,900 USD, regardless of whether the mark price has hit that level. Because closing a long position utilizes minPrice, your trigger price and execution price remain perfectly aligned to the same oracle stream report. While the spread between minPrice and maxPrice remains remarkably narrow during standard market conditions, it can automatically widen during periods of extreme market volatility to protect pool liquidity. #### Charts The live asset price displayed at the header of the platform trading terminal and represented by the real time chart price line is always the mark price. The charting candles map historical intervals using the following specific data criteria: * Open: The closing price recorded by the previous candle. * Close: The current mark price calculation at the end of the interval. * High: The highest maxPrice reported by the oracle network during that interval. * Low: The lowest minPrice reported by the oracle network during that interval. Because candlestick highs and lows map extreme individual minPrice and maxPrice points, a candle wick may visually cross your designated trigger level even if your order does not fill. For instance, if you set a Limit Increase order to open a new long position at 3,900 USD, the chart low wick might display 3,900 USD based on a recorded minPrice drop. However, because your long entry requires maxPrice, your order will remain unfilled if maxPrice only reached 3,901 USD during that same interval. #### Price Gaps and Volatility During rapid market movements or flashing asset price gaps, the final oracle price recorded at the millisecond of execution can differ from your exact trigger parameters. This behavior applies to all conditional order types, including Limit Increase, Limit Decrease, Stop Market, and Take Profit or Stop Loss settings. Consider the following execution scenarios: * Stop Loss Scenario: You establish a Stop Loss order at 4,000 USD. If an aggressive market drop causes the oracle price stream to update instantly from 4,010 USD directly down to 3,990 USD, skipping past your exact boundary, the order triggers instantly and executes at 3,990 USD. * Take Profit Scenario: You establish a Take Profit order at 4,100 USD. If a rapid market spike causes the oracle price stream to jump from 4,090 USD directly to 4,110 USD, the order triggers instantly and executes at 4,110 USD, giving you a more favorable exit. Conditional trigger orders will remain resting in the smart contracts and are not guaranteed to execute if the underlying oracle price feeds never satisfy the structural trigger conditions. #### Opening a Position To establish a position on the Nectar Liquid Trade interface, select your directional bias by clicking Long or Short. Next, choose your preferred execution path from the order type selector, which contains Market, Limit, Stop Market, or TWAP options. You can then configure the parameters of your trade using the integrated system modules. #### Pool and Collateral Selection Select your target trading market from the asset dropdown menu located at the top left of the platform interface. At the header of the trading console, you can customize the following structural options: * Pool: If multiple liquidity pools back your selected asset class, such as a WBTC/USDC pool and a separate WBTC/USDT pool, choose your preferred pool based on current liquidity depth, net asset fee rates, and real time price impact metrics. Each individual pool maintains independent funding rates, borrowing rates, and utilization caps driven by its internal asset balances. * Collateral: Select which specific token will store your position margin. For instance, within a WBTC/USDC market, you can freely select either WBTC or USDC as your underlying collateral. Your collateral token choice heavily dictates your net market exposure: * Long Positions with Asset Collateral: If you open a WETH long position using native WETH as your underlying margin, you maintain compound exposure. You gain asset exposure from both the leveraged long position size and the fluctuating value of the underlying collateral token itself. For example, a 0.1 WETH long backed by 1 WETH of margin creates a net market exposure of 1.1 WETH. * Long Positions with Stablecoin Collateral: If you open a WETH long position using USDC as your underlying margin, your directional exposure is restricted entirely to the position size itself. This is highly effective if you frequently jump between long and short positions without wanting your underlying margin value to fluctuate. * Short Positions with Asset Collateral: Depositing an asset like WETH to back a short position on that same asset creates a delta neutral framework, which is a powerful strategy used to harvest protocol funding fees without directional asset price risk. * Short Positions with Stablecoin Collateral: Backing a short position with USDC keeps your margin value stable while your position benefits cleanly from downward market movements. > Warning Notice > > If you choose to back an active long or short position using volatile, non stablecoin collateral assets, your structural liquidation price will fluctuate dynamically as the underlying market value of that collateral asset rises or falls. #### Margin, Size, and Leverage The platform trading console features three interconnected calculation modules that update dynamically: * Margin: The explicit amount of capital you commit from your connected Web3 wallet to act as the primary position margin. You can use the payment token dropdown to select your asset and review your live wallet balances. * Size: The total notional volume of your position. You can seamlessly toggle this field to display values in USD equivalents or native token units. * Leverage: Located at the top section of the trading console. Clicking this module opens the leverage adjustment interface, featuring a granular slider scale that scales up to a maximum of 50x leverage along with a manual numeric input field. A percentage allocation bar located below these modules allows you to scale your entry quickly relative to your maximum available wallet capital. The interaction between these inputs is governed directly by your Manual Leverage toggle located within the platform settings menu: * Manual Leverage On: This is the factory default state. You explicitly set your desired leverage multiplier and fill out either the Margin or Size field. The system automatically computes the remaining dependent field. For example, selecting a 10x leverage multiplier and inputting 100 USDC of margin will automatically configure a 1,000 USD position size. The percentage allocation bar scales your input margin. * Manual Leverage Off: You freely input your desired margin and total position size independently. The protocol automatically derives your effective leverage multiplier from the direct mathematical ratio between the two values. The percentage allocation bar scales your total position size. #### Are Nectar Liquid Perps Linear or Inverse? Nectar Liquid calculates all position metrics using linear PnL accounting frameworks rather than inverse perpetual formulas. This means the protocol tracks profit and loss directly from your total token size exposure, whereas inverse venues anchor operations to fixed USD contract sizes and distribute returns exclusively in native underlying tokens. Internally, the Nectar Liquid core smart contracts maintain independent tracking of both token size values and absolute USD notions for risk management, while allowing flexible collateral inputs across supported pool assets. For our linear perpetual contracts, your price move PnL is calculated exactly as follows: $$ \text{PnL} = \text{Position Size in Tokens} \times \text{Price Movement} $$ This can also be expressed as your initial USD entry notional multiplied by the clean percentage price change. For example, a 10,000 USD WETH position that experiences a clean 10 percent market move will generate exactly 1,000 USD of profit or loss before any platform execution fees or net price impact factors are accounted for. This linear math remains identical whether your underlying margin token is WETH or USDC. The choice of collateral token only alters your asset exposure outside the position contract: * Stablecoin margin keeps your collateral value locked, making your portfolio returns perfectly linear. * Volatile asset margin adds an external layer of market exposure, causing your net account value to shift alongside broader market movements. Profitable long positions distribute returns using the long asset of the market, and profitable short positions distribute returns using the short stablecoin asset of the market. While the position closing modal allows you to convert your returns into any preferred token, this operation executes a standard pool swap at close. The final chosen payout asset does not alter the underlying linear math of the core perpetual contract. #### Take Profit and Stop Loss Configurations Traders can configure basic Take Profit and Stop Loss instructions directly inside the primary trading console before executing a new position. Toggling the TP and SL module allows you to input your desired trigger parameters and preview your estimated profit or loss metrics. These initial parameters are designed to close your entire position size upon trigger. For advanced conditional setups, such as executing partial position closes or staging multiple staggered entries, utilize the advanced management options located within your active positions list after your trade opens. #### Stop Loss Execution and Liquidation Risks A conditional Stop Loss order operates as an automated trigger instruction and does not represent an absolute exit guarantee prior to liquidation. If an extreme, high velocity market gap causes your position to breach its liquidation threshold before your Stop Loss instruction can be processed by a network keeper, the protocol liquidation engine will execute first. This completely closes out the position and removes the underlying contract size before the Stop Loss instruction can find a valid position to manage. Traders should place Stop Loss triggers at a safe distance from their estimated liquidation prices, utilize conservative leverage levels, or deposit additional margin to ensure a safe buffer against oracle spreads and rapid price gaps. #### Execution Details Review Prior to submitting any trade request to the blockchain, expand the Execution Details drawer located at the base of the trading console to verify your estimated liquidation price, structural position fees, network execution fees, collateral asset spreads, user defined allowed slippage parameters, and stored price impact metrics. #### Maximum Leverage Caps Nectar Liquid allows up to 50x leverage across major trading pairs. However, the maximum allowable leverage multiplier for any given pool scales down dynamically as the total collective open interest of that pool increases. This protective mechanism prevents malicious actors from gaming oracle price impact using highly leveraged outsized positions. This behavior primarily impacts pairs with shallow liquidity profiles, but it can trigger on major assets if aggregate open interest experiences massive spikes. The platform interface will display a clear warning if a trade request violates the current maximum allowable leverage cap. This constraint only restricts actions that open new trades or increase active position sizes. It never penalizes or restricts positions that are already live. When executing a partial close or decreasing size on an asset where the leverage cap has constricted, the order will process smoothly, but the smart contracts will retain the position collateral internally to ensure the remaining position stays safe. #### Managing Active Positions Once a transaction confirmation completes, your trade shifts instantly to the active Positions list. Every row displays the asset pair, directional side, absolute size, net current value, stored collateral, entry price, live mark price, liquidation boundary, and any active conditional instructions. You can interact with your live positions directly from the data row: * Click the Edit button located adjacent to your listed collateral value to deposit additional margin or withdraw excess capital, which immediately recalibrates your effective leverage and liquidation price. * Click the Market or TWAP buttons within the Close column to exit your position instantly. #### Advanced Position Actions Clicking the action menu icon on any active position row opens a suite of extended management options: * Increase Size: Scale into your position over time by setting up an immediate Market order or a conditional Limit, Stop Market, or TWAP order. * Set TP and SL: Construct, adjust, or cancel active Take Profit and Stop Loss parameters. The system supports multiple independent instructions per position, allowing you to map out custom partial close targets at different price boundaries. * Share Position: Generate a customized graphic displaying your position metrics and percentage returns to share via direct link or across social media platforms. #### Tooltip Metrics Breakdowns Hovering over your position Net Value column activates an analytical tooltip displaying your initial deposit margin, real time PnL, accumulated borrowing fees, accrued adaptive funding fees, net price impact charges, claimable price impact rebates, and closing fees. Hovering over the Collateral column displays a deep dive into hourly fee accrual rates, daily protocol yield metrics, and claimable positive funding balances. #### Closing a Position To reduce or completely exit an active trade, click the Market or TWAP close buttons within the position row to open the transaction configuration terminal. Exiting a position realizes your accrued profits or losses in direct mathematical proportion to the total percentage of the position size you choose to close. #### Close Amount Parameters Input your explicit USD volume to close or utilize the percentage slider tool to select a partial or absolute close from 10 to 100 percent. If your input leaves a remaining position size valued below 1 USD, the smart contracts automatically execute a clean, absolute close to prevent leaving dust positions on chain. #### Market Versus TWAP Closes * Market Close: Executes instantly against the next available oracle price stream update, ensuring an immediate exit. * TWAP Close: Divides your close volume into a series of smaller individual orders executed at fixed chronological intervals across a custom duration. This configuration is highly recommended for large institutional sizes to minimize negative price impact. The trading terminal will flag a warning and suggest a TWAP close if it detects that a standard market order will cause significant price impact. #### Keep Leverage Tracking When processing a partial close via a standard Market order, the Keep Leverage toggle automatically calculates and withdraws a matching proportion of your underlying collateral alongside the size reduction to maintain your exact leverage ratio. This feature is enabled by default. If a partial close request threatens to leave your remaining position collateral below the absolute protocol minimum floor, the transaction will be blocked. This scenario typically occurs when Keep Leverage is active, as pulling collateral out alongside small size reductions can breach the minimum floor parameter. #### Receive Token Routing By default long position closures distribute returns in the underlying index asset and short position closures distribute returns in the backing stablecoin. You can manually adjust your target settlement asset within the close terminal. If your choice requires a token conversion, any associated pool swap fees are calculated and shown upfront. If a network disruption causes the swap path to fail during execution, the contract will distribute a combination of both pool tokens to ensure your capital remains safe. #### PnL and Realized History Analytics Your absolute contract PnL scales linearly alongside your total position size. Realized PnL figures displayed inside your account Trade History are explicitly labeled as Realized PnL after fees and net price impact. This consolidated figure accounts for closing fees, accumulated borrow costs, adaptive funding fees, and final net price impact adjustments. It does not subtract your opening fee again because that cost was already deducted directly from your wallet deposit margin at the exact second of entry. Because your starting position collateral already reflects the deduction of the opening fee, the historical log does not double count it at close. #### Token Swaps Nectar Liquid features a native token swap interface alongside its perpetual trading suite. To convert assets, navigate to the Swap tab on the primary trading console. #### Swap Order Types The platform supports three distinct order configurations for asset swaps: * Market Swap: Converts your assets instantly using the current oracle price stream report, governed by your custom slippage parameters. * Limit Swap: Registers an instruction to execute a token swap only when the underlying exchange rate satisfies your explicit target limit price. * TWAP Swap: Splits a large swap volume into smaller chronological tranches over a custom duration to bypass negative price impact boundaries. Standard asset wrapping or unwrapping operations are strictly limited to immediate Market Swap routing. #### Swap Routing Mechanics All swaps are routed directly through active Nectar Liquid pools. The available asset pairs for token swaps comprise the collective long and short collateral tokens deployed across our smart contracts. #### Minimum Receive Protections The platform applies a strict minimum receive slippage filter to safeguard swap operations. This mechanism defines the absolute lowest token volume you are willing to accept from a transaction. If real time price movements cause the output to fall beneath this floor, the transaction automatically reverts, keeping your source assets safely in your wallet. The minimum receive calculation is configured as follows: $$ \text{Minimum Receive} = \text{Expected Output} \times (1 - \text{Allowed Slippage}) $$ For example, selecting a 1 percent slippage threshold on a swap expecting a 1,000 USDC output configures an absolute minimum receive floor of 990 USDC. #### Market Swaps Versus Limit Swaps * Market Swaps: The platform user interface automatically calculates your expected output, reduces it by your slippage tolerance percentage, and passes that final value directly to the smart contracts as the `minOutputAmount` parameter. * Limit Swaps: Standard slippage thresholds are not applied. The expected output generated by your manual limit price is passed directly to the smart contract as the absolute `minOutputAmount` parameter, because your custom limit price serves as its own protective boundary. You can customize your slippage tolerance directly inside the swap panel using preset values of 0.3, 0.5, 1, and 1.5 percent, or input a custom parameter up to a maximum cap of 5 percent. The default network standard is set to 1 percent. #### Factors Defining Swap Output Your final received token volume is dictated by three factors: * Swap Fees: Deducted cleanly from your source input volume based on whether your trade balances or unbalances the target pool asset ratios. * Price Impact: Adjusts your output positively or negatively depending on how your trade alters pool balance states. * Oracle Price Movement: The minor variance in asset valuation between the millisecond you broadcast your swap and the millisecond a network keeper commits it to the blockchain. On Nectar Liquid, your input slippage parameter protects exclusively against oracle price movement during the execution window. Stored price impact and pool fee metrics are already calculated and factored into the initial expected output display. #### Limit Orders Limit orders allow you to define an exact price target to open a new position, scale up an active trade, or process a token swap. Register a limit order by choosing Limit inside the primary trading console, or by accessing the Increase Size via Limit action from an active position row. #### Perpetual Limit Order Mechanics Limit orders on Nectar Liquid operate differently from standard orderbook matching engines. There are no static orderbooks matching resting orders. Instead, your limit instruction rests securely inside the smart contracts until the live oracle price stream satisfies your exact trigger parameter, at which point an automated network keeper executes the transaction against that live oracle price. > Warning Notice > > Nectar Liquid limit orders do not fill passively as the market price trades through a price level. They require a keeper to execute them against a valid oracle report. Extreme market volatility or rapid price gaps can cause the oracle stream to skip your exact trigger target entirely, which can result in your order executing at the next available oracle update price or remaining unfilled if the price moves away. #### Limit Swaps Execution Behavior When executing a Limit Swap, your final execution price can vary from your exact limit parameter due to pool fees and live price impact dynamics. If a swap generates positive price impact, your order can execute before the market price formally touches your limit parameter. Conversely, if a swap incurs negative price impact, execution may occur only after the market asset price has cleared your limit boundary by a wide enough margin to cover the impact cost. If the minimum output criteria cannot be mathematically satisfied, the contract will block execution. #### Stop Market Orders A Stop Market order automatically establishes or increases a position size the moment the live oracle price stream crosses your designated stop price threshold. Stop Market instructions are strictly reserved for long and short leverage trades and cannot be applied to asset swaps. #### Stop Market Trigger Conditions The specific oracle price check utilized to activate a Stop Market instruction is defined by your directional trade setup: * Long Stop Market: Triggers the exact second the oracle `maxPrice` becomes greater than or equal to your stop price parameter. The live `maxPrice` value is also utilized for position execution. * Short Stop Market: Triggers the exact second the oracle `minPrice` becomes less than or equal to your stop price parameter. The live `minPrice` value is also utilized for position execution. The user interface automatically enforces that a long stop price must be positioned above the current mark price, and a short stop price must be positioned below it. When the stop price is breached, the order executes against the closest available oracle stream update. Stop Market instructions do not support user defined acceptable price caps. The contract sets this boundary to maximum fields to guarantee execution once triggered. #### TWAP Orders Time Weighted Average Price or TWAP orders split position increases, closures, or token swaps into perfectly equal tranches executed across uniform time intervals over a user defined duration. This configuration reduces net price impact, making it the premier tool for institutional sizes that would otherwise shift pool asset balances unfavorably if executed as a single market block. The trading console will automatically recommend a TWAP execution path if your single order volume scales to 1,000,000 USD or higher and triggers a negative price impact projection exceeding 0.2 percent. #### How TWAP Works When you confirm a TWAP instruction, the application frontend automatically constructs a series of individual conditional limit orders with staggered activation timestamps. The first tranche processes immediately, while the final tranche maps to the exact conclusion of your chosen duration. Network keepers execute each tranche sequentially as their individual timestamps activate on chain, filling the orders against the live oracle price stream report recorded at the exact second of execution. TWAP functions as an application layer grouping framework that deploys standard limit orders with time gated parameters to the blockchain. #### TWAP Configuration Parameters The TWAP input control panel features the following specific customization modules: * Duration: The absolute timeframe across which your order tranches are distributed, mapped in hours and minutes. * Number of Parts: The total number of individual orders constructed by the protocol. The allowable spectrum ranges from a minimum of 2 parts to a maximum cap of 30 parts, with the factory default configured to 5 parts. * Frequency: A derived, read only metrics field displaying the exact chronological interval between order executions, calculated by dividing your total duration seconds by the number of parts. * Size Per Part: A read only metrics field displaying your total position or swap volume divided equally by your number of parts. For brand new positions, the smart contracts require an absolute minimum margin allocation of 1 USD per individual tranche part. TWAP orders cannot be adjusted or edited once committed to the blockchain. To modify your execution path, you must cancel the active TWAP configuration, which automatically wipes all remaining unexecuted tranches in a single transaction, allowing you to construct a fresh order. #### TWAP Execution Fees The aggregate keeper execution fees required to process every individual tranche part are calculated and paid completely upfront when you create the TWAP order. This total balance is divided equally among all parts. If network execution gas costs on Asset Chain experience extreme spikes after your order creation, causing a tranche allocated fee to fall below the minimum threshold required by keepers, that specific part may be temporarily frozen rather than processing automatically. #### Take Profit and Stop Loss Order Mechanics Take Profit and Stop Loss instructions automatically execute a partial or total position closure the moment the live oracle price stream satisfies your precise target boundaries. Take Profit orders are mapped to close positions at favorable price targets to secure accrued returns, while Stop Loss orders are mapped to close positions at unfavorable price boundaries to protect capital. Take Profit and Stop Loss instructions are mapped directly to independent smart contract order types on chain: `LimitDecrease` and `StopLossDecrease`. | **Order Class** | **Position Side** | **Precise On Chain Trigger Condition** | | --------------- | ----------------- | --------------------------------------------------------------------------------- | | Take Profit | Long | Triggers the second `minPrice` is greater than or equal to your trigger parameter | | Take Profit | Short | Triggers the second `maxPrice` is less than or equal to your trigger parameter | | Stop Loss | Long | Triggers the second `minPrice` is less than or equal to your trigger parameter | | Stop Loss | Short | Triggers the second `maxPrice` is greater than or equal to your trigger parameter | The exact oracle price component that triggers the instruction is utilized as the baseline execution price before any final pool price impact factors are calculated. High velocity market movements or price gaps can cause the oracle stream to skip your exact trigger target, resulting in execution processing at the next available oracle stream update. #### Auto Cancel TP and SL Protections When an active trade is completely closed out by a manual market close, an automated liquidation event, or a triggered conditional order, the protocol automatically cancels any remaining, unexecuted Take Profit or Stop Loss instructions anchored to that specific position. This protective layer prevents orphaned close instructions from lingering on chain after the parent position size has been completely wiped out. This automated cancellation loop applies strictly to `LimitDecrease` and `StopLossDecrease` order configurations. It does not clear resting Limit Increase or Stop Market orders. Auto Cancel is active by default across all user accounts, but it can be manually deactivated within the platform settings console. To ensure performance stability across our environments, the smart contracts enforce strict limits on the maximum number of auto cancel conditional orders allowed per single position: * Asset Chain Mainnet: Maximum of 11 auto cancel orders per position. * Asset Chain Testnet: Maximum of 6 auto cancel orders per position. These boundaries are checked on chain at the smart contract level. If you attempt to register a new conditional order that breaches these environment limits while the auto cancel flag is active, the transaction will revert. The platform frontend manages this by automatically toggling the auto cancel parameter to false for any subsequent orders that exceed these numbers. This allows the order to be created safely, but it means you must manually cancel those specific instructions if the position closes out. The interface will flash a clear warning notice when this scenario occurs. #### Order Execution Guarantees Conditional instructions including Limit, Stop Market, TWAP, Take Profit, and Stop Loss configurations do not represent absolute execution guarantees. An order can remain resting or fail to process under the following protocol scenarios: * The live oracle price stream fails to satisfy the mathematical trigger parameters defined by your order class and directional side. * The target Nectarliquid pool lacks sufficient available asset liquidity to clear your required close or open size. * Processing the order request would push your active position parameters past the maximum allowable leverage cap of the market. * If your trade faces an immediate liquidation check, the network keepers will prioritize processing your active Stop Loss instructions on a best effort path. However, execution can still fail if the oracle stream breaches your liquidation boundary within a single rapid update window before the keeper transaction can be successfully committed to Asset Chain. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.nectarliquid.com/trading/positions-and-order-types.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. 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