Published on 2026-09-24 13:00 | Updated on 2026-09-24 21:48
This page describes how the product works. It is not financial, legal, or trading advice, and it is not a promise of results. Trading can lose money. Orders run on your own exchange account.
TWAP spreads size across time. A scaled order spreads it across price.
TWAP takes one order and cuts that size into slices. It sends a slice each time the clock hits, across one time window. A slice is meant to trade when it is sent. It does not sit waiting for a price you picked. This is one size worked through one window, not a separate buy every day.
A scaled order cuts the same size across price. The rungs are limit orders between the two edges of a channel you draw, and they are placed now. A rung fills when the market trades that level.
TWAP is finished when the window ends. By then the slices have been sent.
A scaled order is finished when the rungs fill, or when you cancel the ones still open. Unfilled size stays on the book.
