TWAP Order

TWAP Orders (Time-Weighted Average Price)

The TWAP order is an advanced algorithmic order that breaks larger trade orders into smaller trade fills executed over time to reduce price impact and slippage. As the most highly requested feature among our institutional clients, the TWAP order allows whale traders to deploy capital in size while limiting their price impact and minimizing their presence in the market. Just like the Limit and Market orders, the TWAP order type is available to trade between any two assets.

• Definitive's TWAPs can be configured to execute trade orders over a rage of time periods between 10 minutes to 30 days.

• Other configurations include Limit Price, Max Price Impact, number of segments and more. If fields are left blank, Definitive's algorithm automatically determines the optimal execution parameters to deliver the best execution price.

• Our TWAP algorithm monitors market conditions onchain, dynamically switching between the 100+ onchain venues integrated into Definitive's smart order router to deliver the optimal execution price.

• Our TWAP algorithm randomizes fill times and fill sizes for superior trade intent masking

• A comprehensive Post-Trade Report is generated for every TWAP order for easy reconciliation and review.

Fees: 25-50 bps. See Staking page for detailed rates.