Introduction

This article explains how market liquidity and volatility affect order execution on Coinlocally Futures, especially for Market, Limit, TP/SL, and Conditional orders.

How liquidity affects order execution

Low liquidity

When there aren’t enough buyers or sellers at your target price:

• Market orders may partially fill or expire
• Limit orders may remain unfilled
• TP/SL orders may trigger but fail to execute
• Price slippage increases

Volatility and price gaps

In fast-moving markets:

• Prices may jump over your limit price
• Stop-Limit orders may trigger but not fill
• Market Order Price Cap/Floor Ratio may be exceeded, causing expiration

Order queue priority

Orders are filled based on:

1. Price
2. Time of placement

If many orders exist at the same price, your order may wait in the queue.

Additional notes

• Market orders prioritize speed, not price.
• Limit orders prioritize price, not execution.
• Illiquid pairs are more prone to slippage and order expiration.

Common Issues

• TP/SL not executing due to trigger type mismatch.
• Stop-Limit orders triggering but not filling.
• Market orders expiring in extremely illiquid conditions.
• Large orders exceeding the allowed price cap/floor ratio.

feeling lost?

If your order didn’t behave as expected, our support team can help analyze the exact reason and guide you on how to avoid similar issues.

Updated on: 01/13/2026