Kraken Pro adds TWAP orders from 1 minute to 7 days

Kraken Pro added TWAP orders on September 7, 2026. TWAP stands for time-weighted average price. The order type splits one large parent order into smaller child orders and executes them over a period selected by the trader.

The available execution window runs from one minute to seven days. Traders choose the market, direction, total size and duration. Kraken then schedules the smaller orders across that period instead of submitting the entire position at once.

TWAP orders can be used for buys or sells, with market or limit child orders. Each child order is submitted as immediate-or-cancel at the current best bid or ask. Any portion that cannot be filled immediately is cancelled. When a limit price is set, each child order must remain within that limit.

Kraken also applies several controls to TWAP execution. The total parent order is capped relative to expected market volume, child orders cannot move too far from the selected limit price, and the system enforces a minimum interval between order actions.

These controls do not guarantee the best available price or a complete fill. TWAP aims to spread execution across the chosen period and keep the average fill closer to market activity during that window. Liquidity can still affect the result, particularly when immediate-or-cancel orders leave part of the requested quantity unfilled.

The main use case is a large order that a trader does not want to submit all at once. TWAP spreads the order over time, but the outcome still depends on market depth, price movement and the selected duration.

TWAP is available on Kraken Pro Web, Desktop and Mobile. Kraken also supports the order type through its REST and WebSocket APIs. API users can submit, amend and cancel TWAP orders through REST, then monitor their status through REST or WebSocket.

TWAP handles order execution after the trader has chosen what to trade. It does not select a market, provide a trading signal or decide whether an order should be placed. Before using it, traders still need to choose an appropriate time window and limit price, then consider whether the market has enough liquidity for the planned size.

Sources: Kraken official blog.