Introducing POV Order: Smarter execution for large trades
We’re excited to introduce Percentage of Volume (POV) orders on Bybit Futures.
POV orders help you execute large trades with greater precision by automatically splitting your order into smaller sub-orders based on real-time market activity. This helps reduce market impact while keeping execution flexible and adaptive.
Why use POV orders
Large market orders can increase slippage and expose your trading intent. POV orders help mitigate this by pacing execution according to market conditions.
When market volume increases, POV orders execute faster. When liquidity slows, execution slows accordingly.
The first order book–based POV execution
Most exchanges only offer volume-based POV execution.
Bybit is the first exchange to introduce POV modes that reference live order book depth, not just traded volume. With Opposite-Side Liquidity and Same-Side Liquidity modes, sub-orders dynamically adjust based on real-time bid and ask liquidity.
This gives you greater control over how large orders are executed across different market conditions.
Key features
- Order book–based execution for more precise order sizing and timing
- VWAP-style execution aligned with market activity
- Dynamic sub-orders designed to reduce signaling risk
- 3 execution modes tailored to different trading strategies
- Built-in slippage control during low-liquidity conditions
- Flexible stop conditions based on quantity, duration, or both
Execution modes
|
Mode |
How it works |
Best for |
|
Traded Volume |
Paces sub-orders based on recent market trade flow |
VWAP-focused traders on liquid pairs (BTC, ETH, etc) |
|
Opposite-Side Liquidity |
References live ask/bid depth for faster entry |
Event-driven trading; speed with slippage control |
|
Same-Side Liquidity |
Aligns with bid/ask depth on your order's side |
Fee-conscious large traders and institutional users |
How to get started
- Go to the Futures trading page
- Select POV from the order type dropdown menu
- Configure your settings
- Select Long or Short, then confirm your order
You can track your active and historical POV orders under Tools → POV.
For more details, please refer to the Help Center article.