# TWAP Execution Calculator

One large market order on a shallow book walks through the price levels and pays for each of them. Splitting it into N slices spread over M minutes (TWAP) trades part of that cost for time and tracking. This calculator shows the per-slice size, the interval between slices and the estimated total cost from your exchange's taker fee and your own slippage assumptions (the slippage ladder in the related links shows market-order cost by size, walked from the live order book). See also market impact.

Source: https://bykaranteli.com/tools/twap · attribute to ByKaranteli and quote the timestamp.

## When TWAP helps

- The order is large next to the visible book depth within the price you will accept
- Low-depth books (memecoins, small-caps)
- You want an average price close to VWAP/mid, not an instant fill
- Entries with a wide price tolerance

If your exchange offers native TWAP or iceberg orders, use them instead of scripting it yourself · the exchange's router sees the book you don't.

Hypothetical result. Computed with hindsight from recorded prices or the numbers you entered; fees, slippage and funding only where a field says so; not a forecast, not a trade that was placed and not indicative of future results.

## FAQ

### What does the TWAP calculator show?

Given your total size, slice count, and time window, it shows the per-slice size, the interval between slices, and the estimated total execution cost from taker fees plus your slippage assumption.

### When is TWAP execution worth using?

When the order is large relative to the visible book depth, for example on shallow books where a single market order would walk through many price levels. The slippage ladder page shows market-order cost by size for the largest perps, walked from the live order book.

### Should I script TWAP myself?

Prefer your exchange's native TWAP or iceberg order types when available. The exchange router sees book depth you cannot.


## Related

- https://bykaranteli.com/tools/position-size
- https://bykaranteli.com/tools/liq-calc
- https://bykaranteli.com/tools/funding-arb-calc
- https://bykaranteli.com/tools/dca-backtester
- https://bykaranteli.com/tools/grid-simulator

Everything in one fetch: https://bykaranteli.com/llms-full.txt