Bybit traders have the option to select various price types to trigger their conditional orders on the platform. This feature enables advanced Bybit traders to further customize their conditional orders in order to achieve more control in executing various trading strategies. 
 

1) Using Last Traded Price to trigger your conditional orders (Default option) 

Pros

• Execution of orders is done using the platform's Last Traded Price(LTP). By using LTP to trigger conditional orders, traders can have a slightly better estimate of the eventual order execution price. 

Cons

• Specifically for using conditional orders to set your stop losses, traders must be aware of the risk of their stop losses not executing before the position is liquidated. The main reason is that by adopting a dual price mechanism, liquidation is triggered by Mark Price and not the platform's LTP. 

2) Using Mark Price to trigger your conditional orders

Pros

• Specifically for using conditional orders to set your stop losses, traders can ensure that their stop-loss orders will always trigger before the liquidation of their position. 

Cons

• Execution of orders is done using the platform's Last Traded Price(LTP). By using Mark Price to trigger conditional orders, traders must be aware of the risk that the final executed price of your stop loss may experience price slippages due to price differences between Mark Price and LTP at the point of trigger.