A limit order executes when the market reaches your specified price, or when the market price is better than your set price. The system will match the order at the best available bid or ask price. Compared to market orders, limit orders offer greater control over execution price, making them ideal for users who prefer to trade at a specific price point.

However, please note that the limit price is not guaranteed to be the final execution price. For example, if you place a limit order to buy BTC futures at 100,000 USDT (long position), the actual execution price may differ from 100,000 USDT when the order is filled.