TWAP

TWAP (Time-Weighted Average Price) is an order type that executes a large trade over time by splitting them into smaller chunks and sending them at regular intervals. This reduces market impact and helps you get a better average price.

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Why use TWAP?

• Smart execution: Orders can be randomized in time to prevent front-running and execution manipulation.
• Smoother fills: Avoid large, sudden trades that can move the market against you.

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What is slippage?

Slippage is the difference between the price you intended to trade at and the price you actually get. TWAP helps minimize slippage by spreading your order over time and reducing price impact.

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Place a TWAP order

On web, open Advanced → TWAP in the order panel. On iOS, switch the order form to Advanced and pick TWAP under Order Type.

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Limits

• Running time: 5 minutes to 24 hours.
• One suborder every 30 seconds. Each suborder must be at least $10.
• Turn on Randomize to vary the timing. TWAP has its own Reduce Only toggle to only shrink a position.
• TWAP isn’t available on spot markets.

Each suborder pays the normal trading fee.