What is Time in Force on Bybit? GTC, IOC, FOK orders explained.

Understanding Time in Force on Bybit

Time in Force (TIF) refers to the instructions traders use to specify how long an order should remain active before execution or cancellation. On Bybit, this feature allows users to control the lifespan and execution conditions of their orders within the trading engine. Traders can choose different types based on their strategy, market conditions, and desired level of control over order fulfillment.

GTC – Good Till Canceled

1. This order type remains active until it is either fully executed or manually canceled by the trader.
2. It is ideal for traders who want to set a limit price and wait for the market to reach that level without constant monitoring.
3. GTC orders persist through trading sessions and do not expire at the end of the day.
4. They are commonly used in spot and futures markets when placing limit orders away from the current market price.
5. Since these orders stay open indefinitely, they carry the risk of unintended execution if market conditions shift dramatically.

IOC – Immediate or Cancel

1. IOC orders require immediate execution of at least part of the order; any portion that cannot be filled is automatically canceled.
2. These are useful in fast-moving markets where partial fills are acceptable and delays are not tolerable.
3. The unfilled part of the order does not remain on the order book, reducing exposure to sudden price changes after partial execution.
4. Traders often use IOC when entering large positions but wish to avoid lingering orders that could affect future trades.
5. This type is especially favored during high volatility periods when timing precision is critical.

FOK – Fill or Kill

1. A FOK order demands that the entire quantity be filled instantly; otherwise, the whole order is rejected.
2. It ensures complete execution or no execution at all, which is vital for strategies requiring full position sizing.
3. Unlike IOC, even a partial match results in total cancellation—there is no compromise on fill size.
4. This order type is frequently used in algorithmic trading systems where consistency in trade size is mandatory.
5. Due to its strict requirements, FOK may fail more often in low-liquidity markets or with large order sizes.

Frequently Asked Questions

GTC orders remain active across trading sessions on Bybit and are not canceled due to market closure. They continue to reside on the order book until executed or manually removed by the user.

Can IOC orders result in zero execution?Yes, if there is insufficient matching liquidity at the specified price, an IOC order may result in zero fill and be entirely canceled without partial execution.

Why would a trader choose FOK over IOC?A trader might prefer FOK when executing a strategy that requires the entire position to be entered at once, avoiding the imbalance caused by partial entries that IOC might allow.

Are Time in Force options available for all order types on Bybit?These settings apply primarily to limit orders. Market orders execute immediately by design and do not support TIF parameters like GTC, IOC, or FOK.