Order type is not a cosmetic setting. Coinbase’s Advanced Trade help explains that post-only can keep a limit order on the book and reject it if it would immediately execute. Coinbase’s trading rules also explain that market orders can fill at prices worse than the latest trade when order-book depth is thin, which is commonly called slippage.
Kraken’s maker-taker support materials make the same cost structure concrete: a taker order removes liquidity from the order book, while a maker order adds liquidity and may face a different fee. The difference can be small on one trade, but it compounds for frequent traders and can widen sharply in volatile pairs.
A practical pre-trade routine has three checks. First, decide whether immediate execution is worth paying taker fees and spread. Second, inspect depth near the order size rather than only the last traded price. Third, use time-in-force settings, post-only, limit prices or smaller slices when the market is thin.
None of these controls eliminate risk. A post-only order may fail to place, a limit order may not fill, and a market order may fill quickly at a worse price. The point is to choose the failure mode before entering the order, instead of discovering it after the market has moved.
Risk notice: Crypto markets can be volatile and order-book liquidity can change quickly. This article is educational and is not trading advice or official platform support.
Sources:
- Coinbase Help: Advanced Trade order types
- Coinbase International Exchange trading rules
- Kraken Support: Maker and taker fees
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