Playground
Execution Simulator
Square-root market impact + linear temporary impact + latency jitter. See the realistic slippage of any trade size before you route it. Free.
- Inputs
- Paste + configure
- Runtime
- 1–15 s
- Privacy
- Client-side · no upload
- API key
- Not required
- Methodology
- Open →
Simplified square-root + linear impact model from Almgren-Chriss (2000) and Kissell (2006). Real execution costs depend on regime, venue, HFT counter-trading, news, and microstructure quirks not captured here. Use this to size the order of magnitudeof your slippage, not to approve a block trade.
1 · Order & market inputs
Estimated slippage
−6.1bps
$3.05k on $5.00M notional · 50.0k buy · 1.00% of ADV · fills in 39.0 min
Permanent: 2.0 bps · Temporary: 0.1 bps · Half-spread: 4.0 bps · Latency drift: ±0.51 bps
2 · Fill schedule (participation-weighted)
Linear participation model: the order tracks a constant fraction of market volume until filled. Real VWAP/TWAP engines shape the curve (U-shape for VWAP, flat for TWAP) to match intraday liquidity.
Formulas
permanent_bps = η · σ · √(X / V) η = 0.10 temporary_bps = ε · σ · (X / V) ε = 0.05 half_spread = spread_bps / 2 total_bps = permanent + temporary + half_spread duration_min = X / (participation · V · 390 / 390) latency_drift = σ · √(latency_ms / ms_per_day) · 10_000 (bps, 1σ)
See methodology for coefficient sources, model limits, and when to stop trusting these numbers.
Complementary tools
Users of this tool often explore
Agent Skill Tester for Markets
Paste a SKILL.md definition + sample input + your Anthropic API key. See structured extraction, token cost, and latency — all in your browser. No signup, key never leaves the page.
Prompt Regression Tester
Run the same prompt against multiple models (Claude 4.5/4.6/4.7, GPT-5, Gemini 2.5) with your own keys. Diff outputs, score drift, catch regressions before they hit your production agent.
Hallucination Detector
Paste a source document + an LLM's extraction. Every numeric claim in the output is checked against the source. Client-side. Catches silent fabrication before it ends up in your pipeline.