> ## Documentation Index
> Fetch the complete documentation index at: https://injectivelabs-docs-tokenization-section.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Min Price Tick Size

## Minimum Market Price Tick Size

The minimum market price tick size dictates the smallest increment by which an order price can increase or decrease. For instance, if a market has a minimum price tick size of **0.001**, an order submitted with a price of **0.0011** would be rejected because it does not align with the allowed increments.

<Callout icon="info" color="#07C1FF" iconType="regular">
  **Note:** The formulas for calculating the price tick size differ between spot and derivative markets.
</Callout>

### Spot Market

#### Conversion from Human-Readable Format to Chain Format

Using the INJ/USDT market as an example, which has **18 base decimals** and **6 quote decimals**, the conversion to chain format is as follows:

$\text{chainFormat} = \text{value} \times 10^{(\text{quoteDecimals} - \text{baseDecimals})}$

#### Conversion from Chain Format to Human-Readable Format

To convert back to a human-readable format:

$\text{humanReadableFormat} = \text{value} \times 10^{(\text{baseDecimals} - \text{quoteDecimals})}$

### Derivative Market

#### Conversion from Human-Readable Format to Chain Format

Using the INJ/USDT perpetual market with **6 quote decimals** as an example, the conversion to chain format is:

$\text{chainFormat} = \text{value} \times 10^{-\text{quoteDecimals}}$

#### Conversion from Chain Format to Human-Readable Format

To convert back to a human-readable format:

$\text{humanReadableFormat} = \text{value} \times 10^{-\text{quoteDecimals}}$

Also, be sure to check out our [concepts](../developers/concepts/calculation-min-price-tick-size/).