Market orders
A market order takes liquidity now at the best available prices, then the house rate if anything is left. There is no “wait for my price”.
What you are asking
“Fill this size now.” The engine matches resting limits that cross, then any remainder can fill at the posted oracle/house price if the exchange provides that liquidity. If there is no live price, the order is rejected — we do not invent a print.
Slippage
On a thin pair, the average fill can differ from the last trade you glanced at. If you need a price cap, use a limit order instead.
Rejects you will see
- Insufficient funds
- Bad quantity
- No live price / no liquidity
Fix the balance or the size; do not hammer submit.