> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hyperdash.com/llms.txt
> Use this file to discover all available pages before exploring further.

# TWAP

> Execute large orders in equal parts over time to reduce market impact.

TWAP (Time Weighted Average Price) executes your order in equal parts over a duration you set, targeting the average market price across the window instead of a single fill. The objective is minimizing market impact when your size is large relative to available liquidity.

## How it places orders

* Splits your total size into equal sub-orders, one every 30 seconds across your duration. The form previews runtime, number of orders, and size per sub-order.
* With Stealth enabled, the TWAP executes through our infrastructure instead of on-chain for more private execution.
* The randomize options vary sub-order sizes and, with Stealth, intervals to make the execution pattern less predictable.
* A running TWAP can be edited or stopped. When editing, the new total size must be greater than the amount already executed.

## When to use it

* Entering or exiting a large position without moving the market
* Averaging into a position over a set window instead of timing a single fill
* Keeping your execution harder to track with Stealth and the randomize options

## Parameters

| Parameter                 | Description and options                                                                                | Default |
| ------------------------- | ------------------------------------------------------------------------------------------------------ | ------- |
| Duration                  | Execution window in hours and minutes. Must be greater than 5 minutes and less than 24 hours.          | None    |
| Stealth                   | Executes your TWAP through our infrastructure instead of on-chain for more private execution.          | On      |
| Randomize Size (optional) | Randomly adjusts each sub-order size by up to +/-20% while keeping TWAP constraints.                   | Off     |
| Randomize Time (optional) | Available with Stealth. Randomly shifts each interval by up to +/-20% to make timing less predictable. | Off     |
| Reduce Only (optional)    | Restricts the TWAP to reducing an existing position.                                                   | Off     |

## Example

You want to buy 2 BTC over 2 hours. That is 240 intervals of 30 seconds, so Hyperdash places 240 sub-orders of roughly 0.0083 BTC each. At a \$118,000 BTC price, each sub-order is about \$980 of notional. With Randomize Size enabled, sub-orders vary in size while still summing to 2 BTC.

<Note>
  Every sub-order must be worth at least \$10. If your size spread across the duration falls below that, shorten the duration or increase the size.
</Note>