Range Order
A range order is a Uniswap V3 position placed entirely above or below the current price that functions like a limit order, converting one token entirely to the other as the price enters and crosses the range. When the price is below a range order's lower tick, the position holds 100% of the quote token; as the price enters the range, it begins converting to the base token; once above the upper tick, it is fully converted. This creates a buy-limit or sell-limit effect without interacting with an order book. Unlike traditional limit orders, range orders earn fees while the price remains within the active range, and they can fail to fill completely if the price only partially traverses the range. Range orders revert if the price moves back out of the range, leaving the LP with a mix of tokens. They represent a practical bridge between AMM and order book paradigms.