What Is an OCO Order on BYDFi

An OCO (One Cancels the Other) order allows you to place two orders simultaneously — a limit order and a stop-limit order.

However, only one of the two can be executed. Once either order is fully or partially filled, the other is automatically canceled.

⚠️ Note: If you manually cancel one order, the other will also be automatically canceled.

📘 Understanding OCO Components

Limit Order

A limit order executes when the market price reaches your specified limit price. It can be fully or partially filled at that price.

Stop-Limit Order

A stop-limit order is activated when the trigger condition (stop price) is met.

Once triggered, a limit order is placed at your specified limit price and amount.

🛠 How to Use OCO Orders on BYDFi

1. Open the Spot Trading Page

Go to the Spot Trading section and click OCO to create a buy or sell OCO order.

2. Enter Order Details

In the OCO order panel, you’ll find two key parameters to set:

• Limit Price: The price at which your limit order will execute.
• Stop Price (Trigger Price): The condition that activates the stop-limit order when reached.

3. Set the Correct Price Relationship

For Buy OCO Orders:

• The limit price should be below the current market price.
• The trigger price should be above the current market price.
• The stop-limit order price can be higher or lower than the trigger price.

📊 Formula: Limit Price < Current Price < Trigger Price

Example:

If the current BTC price is 10,000 USDT:

• Limit Price: 9,000 USDT
• Trigger Price: 10,500 USDT
• Order Price (after trigger): 10,500 USDT

If the price rises to 10,500 USDT, the 9,000 USDT limit order will be canceled, and a 10,500 USDT buy order will be placed.

If the price drops to 9,000 USDT, the limit order will execute, and the triggered order will be canceled.

For Sell OCO Orders:

• The limit price should be above the current market price.
• The trigger price should be below the current market price.
• The stop-limit order price can be higher or lower than the trigger price.

📊 Formula: Limit Price > Current Price > Trigger Price

💬 Practical Example — When to Use OCO Orders

Let’s say you’re bullish on BTC and want to buy 1 BTC.

You hope to buy at a lower price, but also want to catch an upward breakout if it happens.

If BTC is trading at 10,000 USDT, you could set:

• Limit Price: 9,000 USDT (buy if it dips)
• Trigger Price: 10,500 USDT (buy if it breaks out)
• Order Price: 10,500 USDT
• Quantity: 1 BTC

If the price drops to 9,000 USDT, the limit order executes, and the stop-limit order is canceled.

If the price rises to 10,500 USDT, the limit order is canceled, and a new buy order is placed at 10,500 USDT.

This ensures that you either buy at a discount or join the breakout, but never both.

🧩 Summary