What’s the difference between a limit order and a market order on Kalshi?

A market order executes immediately at the best available price, while a limit order specifies a price and rests in the order book until matched or canceled.

Can a limit order be partially filled?

Yes. If only part of the order can be matched at the limit price, the filled portion executes and the remainder stays open, subject to exchange rules.

Are there fees for limit orders?

Fees apply to each fill, calculated per contract, regardless of order type. Check Kalshi’s fee schedule for the current rate.

Trading

Limit Order

An order to buy or sell at a specified price or better, not at market.

Detailed explanation

A limit order lets you specify the worst price you’ll accept for a buy or the best you’ll accept for a sell. On Kalshi, prices are quoted in cents and range from $0.01 to $0.99 per contract; a limit order sits on the central order book until it can be matched with a counterparty. Like other order types, it’s subject to Kalshi’s fees and market mechanics, including self-trade prevention and timing risks. A limit order is particularly useful for positioning for intra-market edge or waiting for favorable liquidity conditions.

Worked example

Suppose YES is available at 42¢ and NO at 56¢. You place a limit order to buy YES at 42¢ and a limit order to buy NO at 56¢. If both sides fill, you’ve spent 98¢ total to secure the two contracts, leaving a 2¢ edge relative to a $1 settlement if the event resolves true and both legs pay out. The result is a defined, small-risk arbitrage setup when the two prices can coexist under $1.00.

FAQ

What’s the difference between a limit order and a market order on Kalshi?: A market order executes immediately at the best available price, while a limit order specifies a price and rests in the order book until matched or canceled.
Can a limit order be partially filled?: Yes. If only part of the order can be matched at the limit price, the filled portion executes and the remainder stays open, subject to exchange rules.
Are there fees for limit orders?: Fees apply to each fill, calculated per contract, regardless of order type. Check Kalshi’s fee schedule for the current rate.

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Detailed explanation

Worked example

FAQ

See Limit Order on a live Kalshi market

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