Range Orders

Use concentrated liquidity positions as limit orders to buy low or sell high.

Range orders let you set limit-order-style trades that earn fees while waiting to execute. Buy tokens at lower prices or sell at higher prices—automatically.

Range orders use Orca’s concentrated liquidity pools. Unlike traditional limit orders that cost fees, you earn trading fees while your order is active.

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How Range Orders Work

By creating a single-sided liquidity position outside the current price, you can:

• Buy tokens when price drops to your target
• Sell tokens when price rises to your target
• Earn fees as price moves through your range

Buy Limit Order

Deposit stablecoins below current price. When price drops through your range, your stablecoins convert to the target token.

Sell/Take Profit Order

Deposit tokens above current price. When price rises through your range, your tokens convert to stablecoins.

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Advantages Over Traditional Limit Orders

Feature	CLOB Limit Order	Orca Range Order
Fees	Often pay fees	Earn fees
Tax timing	Taxable on execution	Taxable on withdrawal*
Partial fills	Yes	Yes (gradual conversion)
Price precision	Exact price	Price range

*Tax treatment varies by jurisdiction. Consult a tax professional for your specific situation.

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Limitations to Understand

Range orders are not identical to traditional limit orders. Key differences:

• Must withdraw to complete: Your order isn’t “done” until you withdraw. If you don’t withdraw, price can move back and reverse the conversion.
• Price range, not exact price: You set a range, not a single price point.
• Requires monitoring: You need to watch for execution and withdraw at the right time.

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Creating a Buy Limit Order

Use this when you want to buy tokens at a lower price than current market.

Example scenario: SOL is at $160 and you want to buy at $150.

1. Navigate to the pool

   Go to orca.so/pools and find the pool (e.g., SOL/USDC).

   
2. Connect your wallet

   Click Connect Wallet if not already connected.

   
3. Open position creation

   Click on the pool to open the liquidity sidebar, then click New Position.

4. Select Custom range

   Choose Custom range mode to set your own price bounds.

5. Set your buy range BELOW current price

   Set both min and max prices below the current price where you want to buy.

   Example: To buy SOL around $150:

   • Min: $150.00
   • Max: $150.02 (tight range for precise entry)

   Use a tight range for more precise price execution, or a wider range to earn more fees during a protracted downtrend.

6. Deposit only the quote token

   Enter the amount of USDC (or other stablecoin) you want to use. Since your range is below current price, you’ll only deposit the quote token.

   
7. Review and create position

   • Verify your range is below current price
   • Check the deposit amount
   • Click Deposit and approve in your wallet
8. Wait for price to reach your range

   Monitor your position. When price falls through your range, your USDC converts to SOL.

9. Withdraw to complete the order

   Once price is at or below your range minimum, withdraw immediately to lock in your purchase. If you don’t withdraw, price could rise back and convert your SOL back to USDC.

Critical: You must withdraw your position after the price passes through your range. Otherwise, if price reverses, your tokens will convert back.

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Creating a Sell/Take Profit Order

Use this when you want to sell tokens at a higher price than current market.

Example scenario: SOL is at $160 and you want to sell at $170.

1. Navigate to the pool

   Go to orca.so/pools and find the pool (e.g., SOL/USDC).

2. Connect your wallet

   Click Connect Wallet if not already connected.

3. Open position creation

   Click on the pool to open the liquidity sidebar.

4. Select Custom range

   Choose Custom range mode.

5. Set your sell range ABOVE current price

   Set both min and max prices above the current price where you want to sell.

   Example: To sell SOL around $170:

   • Min: $170.00
   • Max: $170.02 (tight range for precise exit)
6. Deposit only the base token

   Enter the amount of SOL you want to sell. Since your range is above current price, you’ll only deposit the base token.

7. Review and create position

   • Verify your range is above current price
   • Check the deposit amount
   • Click Deposit and approve in your wallet
8. Wait for price to reach your range

   Monitor your position. When price rises through your range, your SOL converts to USDC.

9. Withdraw to complete the order

   Once price is at or above your range maximum, withdraw immediately to lock in your sale.

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Tight Range vs Wide Range

Tight Range

Pros:

• More precise entry/exit price
• Executes quickly once price reaches range

Cons:

• Earns fewer fees
• May miss if price doesn’t reach exact level

Wide Range

Pros:

• Earns more fees during price movement
• Catches price over broader range

Cons:

• Average price less precise
• Takes longer to fully convert

Wide range example: Instead of $150-$150.02, set $150-$160. As price falls through this range, you gradually buy SOL at various prices, averaging out your entry while earning fees.

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Important Reminders

Always verify pool price matches market

Before depositing, ensure the pool’s current price matches wider market values. Depositing to a mispriced pool can result in immediate loss.

Withdraw promptly after execution

If you don’t withdraw after your range order executes, price can reverse and undo your trade. Set alerts or check regularly.

Consider using Alerts

Set up position alerts to get notified when your position moves out of range—signaling your order has executed.

Account for slippage on withdrawal

When withdrawing, there’s a small slippage tolerance. This is normal and won’t significantly affect your results.

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Next Steps

Position Alerts

Get notified when your range order executes

Understanding Slippage

Learn about slippage settings for LP

Beginner's Guide

Full introduction to liquidity provision

Managing Positions

Monitor and manage your positions