---
title: "Stealth Large Order Execution"
description: "Execute large orders with minimal market impact using adaptive algorithms."
icon: "eye-slash"
---

<Warning>**Ultra Feature.** Requires an Ultra subscription. [Get started at api.mathematicalcompany.com](https://api.mathematicalcompany.com)</Warning>

Execute large orders without moving the market. Estimate impact first, then choose from Adaptive TWAP, Iceberg Plus, or Sniper algorithms - or let the system pick automatically.

## Full Code

```python
"""Stealth execution: estimate impact and execute with minimal footprint."""

import horizon as hz

engine = hz.Engine()
engine.start_feed("polymarket", "polymarket_book", config_json='{"condition_id": "election-winner"}')

# ── Step 1: Estimate market impact ──
impact = hz.estimate_impact(
    engine,
    market_id="election-winner",
    side=hz.Side.Yes,
    size=500.0,
    feed_name="polymarket",
)

print(f"Impact Estimate:")
print(f"  Expected slippage:  {impact.expected_slippage_bps:.1f} bps")
print(f"  Price impact:       {impact.price_impact:.4f}")
print(f"  Estimated cost:     ${impact.estimated_cost:.2f}")
print(f"  Recommended algo:   {impact.recommended_algo}")
print(f"  Completion time:    {impact.estimated_time_seconds:.0f}s")

# ── Step 2: Auto-execute with best algorithm ──
result = hz.stealth_execute(
    engine,
    market_id="election-winner",
    side=hz.Side.Yes,
    order_side=hz.OrderSide.Buy,
    size=500.0,
    price=0.55,
    feed_name="polymarket",
    strategy="auto",       # auto-selects best algorithm
)

print(f"\nExecution Result:")
print(f"  Algorithm used:     {result.algorithm}")
print(f"  Filled:             {result.total_filled:.0f} contracts")
print(f"  Avg price:          {result.avg_fill_price:.4f}")
print(f"  Slippage:           {result.actual_slippage_bps:.1f} bps")
print(f"  Child orders:       {result.num_child_orders}")
```

## Manual Algorithm Selection

Choose a specific stealth algorithm for fine-grained control:

```python
"""Manual stealth algorithms."""

import horizon as hz

engine = hz.Engine()

# ── Adaptive TWAP: time-sliced with randomization ──
twap = hz.AdaptiveTWAP(
    engine,
    duration_secs=300,     # 5 minutes
    num_slices=20,
    randomize_timing=True, # ±20% jitter on slice timing
    randomize_size=True,   # ±30% jitter on slice size
)

# ── Iceberg Plus: hidden size with smart repricing ──
iceberg = hz.IcebergPlus(
    engine,
    show_size=10.0,
    reprice_on_move=True,  # adjust price when market moves
    max_drift=0.02,        # reprice if market moves >2 cents
)

# ── Sniper: wait for favorable moments to strike ──
sniper = hz.SniperAlgo(
    engine,
    patience_seconds=60,   # wait up to 60s for good price
    max_spread=0.03,       # only execute when spread < 3 cents
    min_size_available=20, # need 20+ contracts at target price
)
```

## Configuration

Use `StealthConfig` for detailed control over execution parameters:

```python
config = hz.StealthConfig(
    max_participation_rate=0.15,   # never exceed 15% of volume
    randomize_timing=True,
    randomize_size=True,
    max_impact_bps=50,             # abort if impact exceeds 50 bps
    cool_off_seconds=5,            # pause between child orders
)

result = hz.stealth_execute(
    engine,
    market_id="election-winner",
    side=hz.Side.Yes,
    order_side=hz.OrderSide.Buy,
    size=500.0,
    price=0.55,
    feed_name="polymarket",
    strategy="adaptive_twap",
    config=config,
)
```

## Pipeline Mode

Run stealth execution from within a live strategy:

```python
"""Stealth executor as a pipeline function."""

import horizon as hz
from horizon.context import FeedData


def fair_value(ctx: hz.Context) -> float:
    feed = ctx.feeds.get("polymarket", FeedData())
    return feed.price if feed.price > 0 else 0.50


def signal(ctx: hz.Context, fair: float) -> None:
    """When strong signal detected, queue a stealth order."""
    book = ctx.feeds.get("polymarket", FeedData())
    market_price = book.price if book.price > 0 else 0.50
    edge = fair - market_price

    if edge > 0.05:  # 5+ cent edge
        ctx.params["stealth_requests"] = [{
            "market_id": "election-winner",
            "side": "yes",
            "size": 200.0,
            "price": market_price + 0.01,
        }]


executor = hz.stealth_executor(
    strategy="auto",
    config=hz.StealthConfig(max_impact_bps=30),
)

hz.run(
    name="stealth_strategy",
    markets=["election-winner"],
    feeds={"polymarket": hz.PolymarketBook("election-winner")},
    pipeline=[fair_value, signal, executor],
    risk=hz.Risk(max_position=500, max_drawdown_pct=5),
    interval=1.0,
    mode="paper",
)
```

## Run It

```bash
python examples/stealth_large_order.py
```

See [Stealth Execution](/stealth-execution) for the full reference.
