Advanced Strategy Orders

This document describes the advanced execution strategies available on 1024EX.
These order types are designed for algorithmic, quantitative, and professional users who need more control over execution quality, market impact, and risk management.

Overview

On 1024EX, in addition to standard limit and market orders, you can use the following advanced strategy orders:

• TWAP – Time-Weighted Average Price
• VWAP – Volume-Weighted Average Price
• Iceberg – Partially hidden large orders
• Snipe – Opportunistic / event-driven execution
• Stop-Grid / Take-Grid – Grid-based stop-loss & take-profit management

These strategies are available for perpetual contracts and, depending on configuration, may also be enabled for spot markets.

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Risk Disclaimer
Advanced strategy orders do not guarantee execution, average price, or profit. They may behave unexpectedly in illiquid markets, during extreme volatility, or under network / matching engine congestion. Users are fully responsible for all orders submitted via these strategies.

Common Concepts

Before using advanced strategies, please be familiar with the following concepts:

• Notional size: The total quantity you intend to buy or sell.
• Execution window: The time range during which the strategy is active.
• Execution slices: The smaller child orders generated by the strategy.
• Slippage: The difference between expected and actual execution price.
• Market impact: The price movement caused by your own orders.

Most 1024EX advanced strategies follow this workflow:

• You define target size + constraints (time window, price limits, etc.).
• 1024EX’s execution engine splits that into child orders.
• Child orders are submitted, monitored, and updated until:
  • the target size is fully executed,
  • the time window expires, or
  • you cancel the strategy.

TWAP Orders

TWAP (Time-Weighted Average Price) is an execution algorithm that spreads a large order evenly over time. The goal is to achieve an average execution price close to the simple average price over the selected time period, while reducing visible market impact.

TWAP does not explicitly optimize for current volume or liquidity. It follows a time-based schedule.

When to Use TWAP

• You need to execute a large position without placing one big visible order.
• The market is reasonably liquid, and you mainly want to avoid signaling your full size.
• You prefer a simple, predictable schedule (e.g., “finish within 1 hour”).

TWAP Example

You want to buy 100 BTC over 60 minutes.

• Total Size: 100 BTC
• Duration: 60 minutes
• Slice Interval: 1 minute

The strategy will submit roughly 100 / 60 ≈ 1.67 BTC every minute (subject to min order size and rounding), until:

• 100 BTC is filled, or
• the 60-minute window ends, or
• you manually cancel the strategy.

VWAP Orders

VWAP (Volume-Weighted Average Price) is an execution algorithm that aims to track the market’s volume-weighted average price over a selected period.

Unlike TWAP, VWAP tries to align execution with actual trading activity: more volume is traded when the market is active, and less when the market is quiet.

When to Use VWAP

• You want your execution profile to match the market’s volume profile.
• You are sensitive to market impact and want to trade more during liquid periods.
• You have a target participation style (e.g., “follow the flow”, rather than fixed time slices).

VWAP Example

You want to sell 500 ETH during a 2-hour window, but only participate up to 15% of market volume.

• Total Size: 500 ETH
• Window: 2 hours
• Max Participation Rate: 15%

If, during a specific minute, the market trades 1000 ETH, VWAP may sell up to 150 ETH in that minute (15% of volume), subject to your remaining size and limits.

Iceberg Orders

An Iceberg order (also called a hidden or partially hidden order) is designed to execute a large order while only displaying small portions (“tips”) on the order book at any given time.

• The visible part (tip) appears as a normal limit order.
• Once the visible quantity is filled, another tip is automatically refreshed until the total order size is completed or the order is canceled.

When to Use Iceberg

• You do not want your full order size to be visible on the book.
• You want to reduce information leakage and avoid other traders reacting to your large order.
• The market depth is moderate and you want to blend into normal flow.

Iceberg Example

You want to sell 500 BTC at $60,000 without revealing your full size.

• Total Size: 500 BTC
• Display Size: 10 BTC
• Limit Price: $60,000

The order book will show only 10 BTC at 60,000. As trades fill that 10 BTC, the system automatically posts another 10 BTC at 60,000, until all 500 BTC is filled or you cancel the order.

Snipe Orders

A Snipe (or sniping) order is a high-precision, event-driven execution strategy designed to capture very short-lived opportunities, such as:

• Mispriced orders at a specific price level.
• Liquidity appearing briefly at a favorable price.
• Rapid price movements around a trigger event.

Snipe strategies often combine price conditions + speed-sensitive execution.

Typical Use Cases

• Order book sniping:
  Quickly taking visible liquidity at a specific price level when certain conditions are met.
• Breakout or breakdown sniping:
  Aggressively entering a position when the price crosses a defined level.
• Liquidation / event sniping (advanced):
  Responding to predicted liquidations or known on-chain / off-chain events.

Snipe Example

You want to buy if price breaks above $60,500 with aggressive execution.

• Trigger: Last traded price ≥ $60,500
• Snipe Size: 10 BTC
• Order Type: Market (or tight aggressive limit with slippage cap)
• Expiry: 10 minutes

Once the price crosses $60,500, the strategy immediately sends a market (or aggressive limit) order for 10 BTC, subject to your slippage settings.

Stop-Grid & Take-Grid

Stop-Grid and Take-Grid are grid-based risk management strategies for stop-loss and take-profit execution.

Instead of using a single stop price or single take-profit level, you configure a ladder (grid) of levels, each with its own size and action.

Concepts

• Stop-Grid:
  Multiple downside levels to gradually reduce or close positions when the market moves against you.
• Take-Grid:
  Multiple upside levels to gradually lock in profits as the market moves in your favor.

This allows more granular control over risk and P&L realization.

Stop-Grid (Grid Stop-Loss)

When to Use

• You do not want to liquidate your entire position at one single price.
• You prefer to scale out as the market moves against you.
• You want to automate a risk staircase: mild loss → partial reduction; deeper loss → more aggressive reduction.

Stop-Grid Example

You are long 50 BTC at $60,000 and want a 3-step Stop-Grid.

If price falls:

• At 58,500 → position reduced to 40 BTC
• At 57,500 → position reduced to 25 BTC
• At 56,000 → position fully closed

This structure gradually reduces risk without a single all-or-nothing stop.

Take-Grid (Grid Take-Profit)

When to Use

• You want to lock in profit gradually as price moves in your favor.
• You prefer to hold a runner (remaining position) while still banking earlier gains.
• You want a fully automated take-profit ladder.

Take-Grid Example

You are long 30 BTC at $60,000 and define a 3-step Take-Grid.

If price rallies:

• At 62,000 → you realize partial profit on 10 BTC.
• At 64,000 → more profit is locked; position reduced further.
• At 66,000 → entire position is closed with full profit realization.

Strategy Behavior & Edge Cases

When using any advanced strategy on 1024EX, please note:

Partial Fills & Slippage

• Child orders may fill partially or not at all.
• Final average price may deviate significantly from any benchmark during volatile conditions.

Market Halts / Trading Pauses

• If trading in a symbol is halted or paused, strategies may be delayed, paused, or canceled according to risk controls.

Insufficient Margin or Balance

• If your margin or available balance is insufficient at the time of execution, child orders may be rejected or the strategy may be terminated.

Network or System Conditions

• Under extreme load or network issues, child order timing and frequency may deviate from the ideal schedule.

Always monitor your open strategies and positions, especially during high volatility or major events.

Glossary

• TWAP – Time-Weighted Average Price, time-based execution schedule.
• VWAP – Volume-Weighted Average Price, volume-based execution schedule.
• Iceberg Order – Large order that only shows a small visible portion on the book.
• Snipe Order – Event-driven, speed-sensitive execution targeting specific price/liquidity conditions.
• Stop-Grid – Multi-level stop-loss ladder.
• Take-Grid – Multi-level take-profit ladder.