About

Turbine. Trade slow and pay less.

Turbine is a private orderbook built for large and long-running orders to settle peer-to-peer.

Orders and LP on Turbine follow the market and settle only when the spread is low. Turbine can settle small and large trades at low, zero, and even negative spreads.

Go to app.turbine.exchange to trade on Turbine!

How Turbine Works

Turbine:

• Keeps orders evergreen by making them follow the market price.

• Keeps orders private, hosted trustlessly on a TEE.

• Delays trades to protect traders and liquidity from stale price arbitrage.

• Updates pooled liquidity to follow the market price.

• Settles in batches with uniform clearing prices across all Turbine orders, Turbine LP, and all on-chain liquidity (including PMM RFQ).

No one can see your orders before settlement, including the Turbine team. You don't have to trust us; you can verify it. For step-by-step verification (Trust Center walkthrough and manual quote verification), see Trusted Execution Environment.

Why Trade or LP on Turbine?

Turbine gets you the best trade when price matters more than speed. LPs can provide market liquidity without the risk of LVR.

You only answer one question: until when do you want to settle the trade? Pick a deadline and Turbine handles the spread to maximize surplus.

A Different Approach to DeFi Trading

Turbine drops the focus on low latency and time-price priority, and removes reliance on professional intermediaries. The result is the lowest-cost exchange possible.

Turbine maximizes peer-to-peer trades (CoWs), protects you against MEV, and relies exclusively on trustless exchange logic. Every deployment runs on an attested TEE, so you can verify exactly which code settles your trade.

Turbine is built for traders who prioritize fair execution over speed.

Read more about Turbine's core concepts.

Core Contributors

PropellerHeads, led by Markus and Alan, built solvers and found that the DeFi trade supply chain today (auctions and routers) is centralized, trusted, and not competitive on large trades.

We believe in:

• Self-sovereign trading: Markets that anyone can use without technical or other barriers, and that protect traders and LPs from adversarial fills.

• Peer markets: Markets that operate solely through retail traders and LPs, eliminating expensive intermediaries.

• DeFi-first design: Design for the dynamic, heterogeneous, open-access, and transparent landscape of DEX liquidity.

Turbine integrates Propeller's DEX Indexer Tycho, and Open Source Router Fynd to trade on DEXs.

Audit

The backend, frontend, and SDK have been audited by Trail of Bits: see their Audit.