Traderjoe limit orders may fill only in part

Price Targets and Liquidity Depth Govern Execution

The limit price and available liquidity jointly determine whether the requested trade can execute in full. LFJ's aggregator searches onchain liquidity for a trade meeting the chosen price. This differs from matching the instruction against an opposing order in a conventional order book. Aggregation broadens the liquidity search, although the number of sources does not establish the quantity available at a particular price.

Liquidity Book supplies a related distinction: its pools distribute reserves across separate price bins. Total pool liquidity includes reserves at different prices. Consequently, a pool's overall value cannot establish how much a limit order can trade at its target. The relevant depth is the liquidity available within the order's price condition.

Why Can a Limit Order Fill Only Partially?

An LFJ limit order can fill partially when eligible liquidity supports only part of its requested quantity.

Executed Quantity

The filled portion records how much of the instruction has become an executed trade. Its input amount measures tokens exchanged, while its gross output measures tokens obtained before the platform deduction. These quantities describe the completed portion, leaving unused input outside the executed trade.

Unfilled Quantity

The unfilled portion can execute only while eligible liquidity is available and the order remains active. Additional liquidity can permit further execution; continuing scarcity can leave a remainder. A partial fill provides no timetable for trading the remainder.

Execution Fees Reduce the Tokens Received

The amount received after execution differs from the gross output when LFJ deducts its platform fee. LFJ applies a 1% platform fee to limit-order output at execution. The fee reduces output tokens, so the requested trade size and wallet receipt need separate interpretation.

Gross Output and Net Receipt

The gross output represents tokens produced by the executed portion before the platform deduction. The net receipt represents what remains after that deduction. The platform fee also applies when the order fills completely. A smaller receipt can reflect the fee, while a partially filled instruction leaves some input untraded.

Network Costs

Network fees are separate from LFJ's platform charge and vary with network activity and transaction settings. The trade interface displays the platform fee before confirmation and provides an estimated gas cost.

Does a Chart Touch Confirm a Filled Order?

A chart touching the target price does not confirm execution of the full order. The chart describes price activity, while the trade requires enough executable liquidity for its size. A brief price move can coincide with limited depth, leaving only part of the instruction executable. Liquidity Book makes this relationship concrete: crossing into additional bins changes the available execution prices. Reserves beyond the chosen price condition cannot automatically complete the remaining trade. The filled quantity establishes how much actually traded; a chart touch alone cannot establish that amount.

Expiry and Cancellation Bound the Unfilled Remainder

The selected expiry limits how long an order remains eligible for further execution. Passing that time stops execution of the instruction.

Cancellation provides a way to stop an outstanding order before its expiry. A cancellation concerns the outstanding instruction; it does not reverse quantities already exchanged. For a partially filled order, completed trades and the remaining request therefore need separate treatment.

An LFJ limit order expiring without execution requires a manual claim to recover its funds.

An order reaching its expiry does not itself establish a funds return. Keep the trade's completed quantity distinct from its remaining funds when interpreting an expired or cancelled instruction.

Buy and Sell Remainders Have Different Consequences

An unfilled buy remainder leaves part of the intended token acquisition incomplete. An unfilled sell remainder leaves part of the intended disposal incomplete. Price movement therefore affects the outstanding tasks differently: the desired purchase can remain unfinished, while tokens awaiting sale retain their price exposure. The unspent input and acquired output represent different assets. A single combined value can obscure the quantity still awaiting exchange.

Order Conditions Before Placement

A quantity requirement determines whether partial execution accomplishes the intended buy or sell. The limit price sets an eligible rate; liquidity depth constrains how much can trade at that rate. If your goal is a specific amount of tokens received, assess the output after the platform deduction.

• Identify the input and output tokens for the selected network.
• Confirm the price denomination and direction match the intended buy or sell.
• Account for the platform fee when assessing the output quantity.
• Decide whether partial execution would still meet the intended trade requirement.
• Select an expiry consistent with how long the unfilled instruction should remain active.

View image file

Full input execution and sufficient net output answer different quantity requirements. Judge each requirement using its own token amount.