What is a range order?
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A range order is a concentrated liquidity position set to a price range that lies entirely above or below the pool's current price. Because the position is out of range, it can be funded with a single token. As the market price moves through the range, the deposited token is progressively converted into the other token in the pair — behaving much like a limit order on a traditional exchange.
How it works
- Deposit. You provide a single token at a price range above or below the current price. Since the range does not overlap the current price, only one token is required.
- Conversion. When the pool's price moves into your range, swaps begin consuming your deposited token and replacing it with the other token. Fees accrue during this phase.
- Completion. Once the price passes entirely through your range, the position is fully converted. You can then withdraw the new token to complete the order.
If you withdraw while the price is still within the range, you receive a mix of both tokens — the conversion is only partial.
Key characteristics
- Single-sided entry. Unlike standard liquidity positions, a range order requires only one of the two pool tokens at deposit time.
- Fee earning. While the price is inside the range, the position earns swap fees just like any active liquidity position.
- No automatic withdrawal. Unlike a traditional limit order, the conversion is not automatically finalized. If the price reverses back through the range after crossing it, the position begins converting in the opposite direction. You must monitor and withdraw at the right time to lock in the result.
When to use range orders
Range orders are useful when you want to convert token A into token B at a specific price — or within a specific price band — while earning fees during the conversion. They are available only on concentrated-liquidity pools (CenturionDEX v3).
Common confusion
A range order is not a guaranteed fill. If the price never reaches your range, no conversion occurs. If it crosses the range and then reverses, you may end up back where you started. Active management is required.