Definition
An open order remains active rather than fully filled, canceled, or expired. It may be entirely unfilled or have a remaining balance after partial execution. Some interfaces list untriggered conditional orders separately, so their status labels should be checked.
How It Works
A hypothetical limit buy at 90 USDT may stay open while sellers ask 100. The platform can reserve funds or margin for it, reducing the amount available for other orders. Its duration depends on its time-in-force setting and any exchange-level expiration rules.
Key Considerations
An open order is not the same as an open position: one is an instruction, the other is existing exposure. Market movement may execute forgotten orders later. Review outstanding instructions and confirm cancellation before assuming reserved funds are released or placing a replacement.