Time-weighted average price

The time-weighted average price is the average price over a period with equal weight to each time interval. Because it ignores volume, it can be moved with relatively little capital in a thin market.

Also known as TWAP. instruments and markets · updated 2026-09-08

Where does time-weighted average price come up?

This term is used in the following manipulation techniques, each explained in full on its own page.

• Oracle manipulation — Oracle manipulation moves the price source a smart contract reads, usually a shallow liquidity pool, so that a protocol values collateral wrongly and can be drained within a single transaction.

Enforcement actions involving these techniques

See also

• Volume-weighted average price — The volume-weighted average price is the average price over a period, weighted by volume traded at each price. It is used both as …
• Price oracle — A price oracle supplies external price data to a smart contract. If a protocol reads its oracle from a shallow pool, an attacker c…

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