> For the complete documentation index, see [llms.txt](https://haiko-docs.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://haiko-docs.gitbook.io/docs/protocol/amm/order-types.md).

# Order Types

## Swaps

Swaps are the most common form of trading on Haiko. They represent a request to buy or sell on token for another, and can be fulfilled against liquidity from one or multiple markets.

Swaps can be expressed in one of two ways:

1. Exact input, e.g. "*buy as much ETH as possible with 1,000 USDC"*
2. Exact output, e.g. "*spend as little USDC as possible to buy 1 ETH"*

Multi-market swaps are swaps executed across multiple markets by iteratively trading received amounts through consecutive markets in a single atomic transaction.

## Limit Orders

Limit Orders allow a user to place an entry order that executes only when the market price reaches the user's desired price. Unlike regular liquidity positions, limit orders are automatically filled once the market price reaches the execution price of the order.

Limit orders are batched at the smart contract level for execution efficiency. This means they must be collected after being filled in a seperate transaction.


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