GTC
Good-Til-Cancelled — an order that rests on the book until it is matched, manually cancelled, or the market resolves.
Definition
A Good-Til-Cancelled (GTC) order is a limit order that remains active on the order book indefinitely until either it is fully filled, the trader cancels it, or the market closes. GTC orders are passive: they sit at a specified price and wait for an opposing taker to match against them.
In practice
Maker strategies like poly5m-v3 rely heavily on GTC orders. The bot posts a bid at, say, $0.48 and asks at $0.52, then waits for takers to cross the spread. Each resting GTC order earns a maker rebate when filled. Because prediction markets have defined end times, GTC orders also face expiry risk: a resting order can be filled seconds before market close if volatility spikes, so well-designed bots cancel open GTCs when a market nears resolution.