Glossary
Reduce-only order
An order flag guaranteeing the order can only shrink an existing position, never open a new one or flip your direction. Worth attaching to every exit.
Checked against the Hyperliquid documentation 8 Sept 2026 · how we check
Related terms
- Limit order An order to trade at a specified price or better. It rests on the book until filled or cancelled, which is what earns the maker fee.
- Stop loss A trigger that sends an order when the price reaches a level you set. It limits losses but does not guarantee the exit price, because the fill happens after the trigger.