How it places orders
- Divides your duration into fixed 30-second clips. The form previews the clip interval, the market sweep interval, the number of clips, and the size per clip.
- During each clip, one post-only limit order chases the best bid (buys) or best ask (sells), working that clip’s outstanding target. It reprices about every 2 seconds as the top of book moves, rests passively, and never crosses the spread.
- At the end of each clip the chase is canceled and its fills are reconciled, so the next clip works the updated shortfall.
- On each sweep boundary, and again at the final deadline, one market order fills whatever the chase legs did not, capped at 8% slippage.
- Clips are sized from a cumulative target rather than a fixed per-clip amount, so an underfilled clip rolls into the next one automatically and the final clip resolves to your exact total size.
- Resting chases and in-flight market orders are always bounded by your remaining size, so the strategy cannot overfill.
Market sweep cadence
Clips are always 30 seconds. The sweep interval is fixed when you create the order, based on its total duration, so shorter orders stay on schedule instead of waiting until the deadline.
Orders created before this schedule shipped keep the one they started with: one-minute clips, swept every fifth clip.
When to use it
- Work size over time while capturing maker fills instead of paying the spread on every clip
- Get TWAP pacing with better average pricing than a market-only TWAP in a calm or ranging book
- Accumulate or distribute a position where completion still matters, since the periodic sweep guarantees progress
Parameters
Example
You want to buy 6 BTC over 60 minutes. Hyperdash creates 120 clips of 0.05 BTC and sweeps every second clip, so once a minute. In the first clip a post-only buy rests at the best bid and reprices as the bid moves, filling 0.03 BTC. The next clip works 0.07 BTC, the leftover plus the new clip. At the one-minute mark, the accumulated shortfall is swept with a single market order, and the cycle repeats. At minute 60 a final sweep closes out any remainder so the full 6 BTC is filled.Each clip must be worth at least $10. Below that the chase does not rest and the shortfall carries forward until the cumulative target clears the minimum, so the market sweeps do more of the work. Increase the size or shorten the duration to keep clips above the minimum.
The chase legs rest on the passive side, so in a fast trending market more of your size fills through the market sweeps than through maker orders. Chase TWAP guarantees completion by your deadline, not a maker fill rate.