> For the complete documentation index, see [llms.txt](https://docs.proliquid.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.proliquid.xyz/order-types/iceberg-orders.md).

# Iceberg orders

Iceberg order type in Proliquid trade form

Iceberg orders split a larger maker-only order into smaller clips at one fixed price. Only one clip rests on the orderbook at a time, which reduces how much of the total size is visible.

Use Iceberg when you want to work a larger order passively at a chosen price without displaying the full size at once.

## Controls

<table><thead><tr><th width="153.5">Control</th><th>What it does</th></tr></thead><tbody><tr><td>Maker price</td><td>Fixed price used for every clip. The price must be able to rest without taking liquidity.</td></tr><tr><td>Displayed</td><td>Approximate percentage of the total size assigned to each visible clip. A smaller percentage creates more clips.</td></tr><tr><td>Jitter</td><td>Varies the pre-planned clip sizes while preserving the validated total size.</td></tr><tr><td>Reduce only</td><td>Restricts the Iceberg to decreasing an existing position.</td></tr></tbody></table>

## Execution model

Proliquid creates the full clip plan before submission, using the market's size precision and minimum order requirements. It then places one ALO child order at the selected price.

The next clip is placed only after the active clip fills completely. Every clip uses the same fixed price. If that price would take liquidity when the next clip is due, the Iceberg waits until the price can rest as maker liquidity again.

Because the children use ALO, an Iceberg does not intentionally cross the spread. This can reduce visible size and preserve maker-only intent, but it also means the full order may remain unfilled.

## Example flow

1. Select Iceberg in the [Trade form](/terminal-sections/trade-form.md).
2. Enter the total quantity or notional and choose a maker price.
3. Set the displayed percentage and optional jitter.
4. Enable reduce-only if the order should only decrease an existing position.
5. Submit and monitor progress in [Open icebergs](/terminal-sections/open-icebergs.md).

## What to monitor

Open icebergs shows the total size, remaining size, fixed price, current clip, displayed percentage, jitter, and execution status. The active child also appears in [Open orders](/terminal-sections/open-orders.md) as an Iceberg Clip and on the [Chart](/terminal-sections/chart.md) as an ICEBERG order line.

Cancel the parent Iceberg when you want to stop the strategy. Proliquid cancels its active child and does not place another clip.

> Iceberg is managed by Proliquid, not as a native exchange parent order. If Proliquid is offline, the current child can still fill on the active exchange, but the next clip is not placed until Proliquid reconnects and recovers the strategy. Recovery is limited to 24 hours, and clearing browser data or switching devices can remove the local parent plan.


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