# Order book

The order book works in essentially the same way as all centralized exchanges but is fully on-chain. Orders are added where price is an integer multiple of the tick size, and size is an integer multiple of lot size. The orders are matched in price-time priority. 

See this[ ](https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/order-book)[section](https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/order-book) for further details on order book implementation.