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We’re excited to introduce Chase Limit Order, a new order type designed to help traders execute large limit orders more efficiently in fast-moving markets.

A Chase Limit Order is a limit order placed at the best bid or ask that dynamically adjusts its entry price as market conditions change. The order continues to track the market until it is filled, canceled, or reaches the maximum chase distance.

Enter the market quickly with a maker order while reducing the time spent waiting for ideal price levels.

By dynamically tracking the best bid or ask, Chase Limit Order helps you stay close to your desired entry price as the market moves.

Closely following market movements can help surface potential price differences across markets or trading pairs.

With Chase Limit Order, you can choose to:

• Set a fixed chase distance from Ask1 or Bid1 using a price value or percentage.

The system continuously adjusts your order price to maintain the selected chase condition. You can also define a Maximum Chase Distance in value or percentage. Once this limit is reached, the order stops chasing and remains at the current price.

An optional Trigger Price can be set so the strategy activates only when the last traded price reaches your specified level.

The order continuously follows the best bid or ask without predefined constraints unless a maximum chase distance is set. The order updates its price as the market moves until it is filled, canceled, or capped by the maximum chase distance.

Set a fixed distance from the best bid or ask. If the market moves unfavorably and widens the gap, the order price adjusts to maintain the predefined distance. If the market moves favorably and converges, the order price remains unchanged.

Log in to your Bybit account, go to the trading page, and select the symbol you wish to trade.

 Select Chase Limit Order as the order type.

Choose your chase price and enter the order quantity. Set a maximum chase distance or trigger price if needed. The chase interval is currently set to one second.

Make sure your account has sufficient balance before placing the order.

Once submitted, Chase Limit Orders will be labeled on the chart to distinguish them from other limit or market orders.

How to update Limit Order price using the Chase feature

You can update your limit order price with one tap from the Open Orders tab. Tap Chase to match the current best price. Your buy order moves to the best bid. Your sell order moves to the best ask.

Once updated, your order moves closer to the front of the queue, helping you enter the market sooner.

If the market moves quickly, the price set by Chase may become less favorable than the current market price. In this case, your limit order may be executed as a taker order. If Post-Only is enabled, the order will be canceled to prevent taker execution.

• Each trader can place one Chase Limit Order per symbol per side. The maximum number of symbols with open Chase Limit Orders is 10, and the maximum number of open Chase Limit Orders per UID is 20.

• The minimum chase distance is 0.01%, and the maximum is 10% of the last traded price, with precision up to two decimal places.

• All Chase Limit Orders are post-only by default to ensure maker execution. If an order is rejected five times due to post-only conditions during high volatility, the strategy will be canceled.

Start using Chase Limit Order today to improve limit order execution while staying aligned with market movements.

Introducing Chase Limit Order

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