# Iceberg (/strategies/iceberg)



Iceberg divides a total order into smaller limit slices. Only one slice works at a time; the next is submitted after confirmed fills complete the previous slice.

```bash
mlab strategy run iceberg BTC --venue bulkf --testnet \
  --side buy --size 0.01 --display-size 0.002 \
  --limit-price 80000 --duration 900 --dry-run
```

Prices here are examples. Preview first; replace `--dry-run` with `--yes` to start.

* `--display-size` caps each slice, in base-asset units. Slices are divided evenly in whole lots and can be smaller than the cap.
* `--limit-price` applies to every slice. GTC orders can fill immediately if they cross the market.
* Every slice must meet the venue's minimum order size and notional.
* At the deadline or on stop, the strategy attempts to cancel its remaining open orders. It does not force completion with a market order.

This is client-managed execution, not an exchange-native hidden order. Do not manually modify its working orders. An interrupted worker will not automatically resubmit; check open orders before starting another job.

Use `--margin` instead of `--size` for margin-based sizing. In Furge, choose **Iceberg**, preview the slices, and confirm. See [job commands](/strategies#jobs) to inspect or stop a CLI job.