diff --git a/daemon/src/db.rs b/daemon/src/db.rs
index 0d96ddf..e4d444d 100644
--- a/daemon/src/db.rs
+++ b/daemon/src/db.rs
@@ -812,6 +812,7 @@ mod tests {
                 Usd::new(dec!(1000)),
                 Origin::Theirs,
                 BitMexPriceEventId::with_20_digits(OffsetDateTime::now_utc()),
+                time::Duration::hours(24),
             )
             .unwrap()
         }
diff --git a/daemon/src/maker.rs b/daemon/src/maker.rs
index 7b3e158..eac861e 100644
--- a/daemon/src/maker.rs
+++ b/daemon/src/maker.rs
@@ -53,6 +53,10 @@ struct Opts {
     #[clap(short, long)]
     json: bool,
 
+    /// The term length of each CFD in hours.
+    #[clap(long, default_value = "24")]
+    term: u8,
+
     #[clap(subcommand)]
     network: Network,
 }
@@ -203,6 +207,7 @@ async fn main() -> Result<()> {
         },
         |channel0, channel1| maker_inc_connections::Actor::new(channel0, channel1),
         listener,
+        time::Duration::hours(opts.term as i64),
     )
     .await?;
 
@@ -265,6 +270,7 @@ where
         + xtra::Handler<maker_inc_connections::BroadcastOrder>
         + xtra::Handler<maker_inc_connections::ListenerMessage>,
 {
+    #[allow(clippy::too_many_arguments)]
     pub async fn new<F>(
         db: SqlitePool,
         wallet: Wallet,
@@ -276,6 +282,7 @@ where
             Box<dyn MessageChannel<FromTaker>>,
         ) -> T,
         listener: TcpListener,
+        term: time::Duration,
     ) -> Result<Self>
     where
         F: Future<Output = Result<M>>,
@@ -296,6 +303,7 @@ where
         let cfd_actor_addr = maker_cfd::Actor::new(
             db,
             wallet,
+            term,
             oracle_pk,
             cfd_feed_sender,
             order_feed_sender,
diff --git a/daemon/src/maker_cfd.rs b/daemon/src/maker_cfd.rs
index 2941202..f4e212b 100644
--- a/daemon/src/maker_cfd.rs
+++ b/daemon/src/maker_cfd.rs
@@ -21,6 +21,7 @@ use sqlx::pool::PoolConnection;
 use sqlx::Sqlite;
 use std::collections::HashMap;
 use std::time::SystemTime;
+use time::Duration;
 use tokio::sync::watch;
 use xtra::prelude::*;
 
@@ -62,6 +63,7 @@ pub struct FromTaker {
 pub struct Actor<O, M, T> {
     db: sqlx::SqlitePool,
     wallet: Wallet,
+    term: Duration,
     oracle_pk: schnorrsig::PublicKey,
     cfd_feed_actor_inbox: watch::Sender<Vec<Cfd>>,
     order_feed_sender: watch::Sender<Option<Order>>,
@@ -98,6 +100,7 @@ impl<O, M, T> Actor<O, M, T> {
     pub fn new(
         db: sqlx::SqlitePool,
         wallet: Wallet,
+        term: Duration,
         oracle_pk: schnorrsig::PublicKey,
         cfd_feed_actor_inbox: watch::Sender<Vec<Cfd>>,
         order_feed_sender: watch::Sender<Option<Order>>,
@@ -109,6 +112,7 @@ impl<O, M, T> Actor<O, M, T> {
         Self {
             db,
             wallet,
+            term,
             oracle_pk,
             cfd_feed_actor_inbox,
             order_feed_sender,
@@ -637,7 +641,7 @@ where
         max_quantity: Usd,
     ) -> Result<()> {
         let oracle_event_id =
-            oracle::next_announcement_after(time::OffsetDateTime::now_utc() + Order::TERM)?;
+            oracle::next_announcement_after(time::OffsetDateTime::now_utc() + self.term)?;
 
         self.oracle_actor
             .do_send_async(oracle::FetchAnnouncement(oracle_event_id))
@@ -649,6 +653,7 @@ where
             max_quantity,
             Origin::Ours,
             oracle_event_id,
+            self.term,
         )?;
 
         // 1. Save to DB
diff --git a/daemon/src/model/cfd.rs b/daemon/src/model/cfd.rs
index 34ce357..a6af4e0 100644
--- a/daemon/src/model/cfd.rs
+++ b/daemon/src/model/cfd.rs
@@ -125,14 +125,13 @@ pub struct Order {
 }
 
 impl Order {
-    pub const TERM: Duration = Duration::hours(24);
-
     pub fn new(
         price: Usd,
         min_quantity: Usd,
         max_quantity: Usd,
         origin: Origin,
         oracle_event_id: BitMexPriceEventId,
+        term: Duration,
     ) -> Result<Self> {
         let leverage = Leverage(2);
         let maintenance_margin_rate = dec!(0.005);
@@ -149,7 +148,7 @@ impl Order {
             liquidation_price,
             position: Position::Sell,
             creation_timestamp: SystemTime::now(),
-            term: Self::TERM,
+            term,
             origin,
             oracle_event_id,
         })