diff --git a/dlt/extract/resource.py b/dlt/extract/resource.py
index c6ca1660f4..fb40c3bd55 100644
--- a/dlt/extract/resource.py
+++ b/dlt/extract/resource.py
@@ -1,4 +1,5 @@
 import inspect
+import time
 from functools import partial
 from typing import (
     AsyncIterable,
@@ -11,6 +12,7 @@
     Union,
     Any,
     Optional,
+    Literal,
 )
 from typing_extensions import TypeVar, Self
 
@@ -345,8 +347,14 @@ def add_filter(
             self._pipe.insert_step(FilterItem(item_filter), insert_at)
         return self
 
-    def add_limit(self: TDltResourceImpl, max_items: int) -> TDltResourceImpl:  # noqa: A003
-        """Adds a limit `max_items` to the resource pipe.
+    def add_limit(
+        self: TDltResourceImpl,
+        max_items: Optional[int] = None,
+        max_time: Optional[float] = None,
+        min_wait: Optional[float] = None,
+    ) -> TDltResourceImpl:  # noqa: A003
+        """Adds a limit `max_items` to the resource pipe
+
 
         This mutates the encapsulated generator to stop after `max_items` items are yielded. This is useful for testing and debugging.
 
@@ -356,7 +364,9 @@ def add_limit(self: TDltResourceImpl, max_items: int) -> TDltResourceImpl:  # no
             3. Async resources with a limit added may occasionally produce one item more than the limit on some runs. This behavior is not deterministic.
 
         Args:
-            max_items (int): The maximum number of items to yield
+            max_items (int): The maximum number of items to yield, set to None for no limit
+            max_time (float): The maximum number of seconds for this generator to run after it was opened, set to None for no limit
+            min_wait (float): The minimum number of seconds to wait between iterations (usedful for rate limiting)
         Returns:
             "DltResource": returns self
         """
@@ -368,10 +378,22 @@ def add_limit(self: TDltResourceImpl, max_items: int) -> TDltResourceImpl:  # no
         def _gen_wrap(gen: TPipeStep) -> TPipeStep:
             """Wrap a generator to take the first `max_items` records"""
 
+            if max_items >= 0 or max_time and not self.incremental:
+                from dlt.common import logger
+
+                logger.warning(
+                    f"You have added a max_items or max_time limit to resource {self.name}, but no"
+                    " incremental was declared."
+                )
+
             # zero items should produce empty generator
             if max_items == 0:
                 return
 
+            # vars needed for max time and rate limiting
+            start_time: float = time.time()
+            last_iteration: float = start_time
+
             count = 0
             is_async_gen = False
             if callable(gen):
@@ -384,7 +406,10 @@ def _gen_wrap(gen: TPipeStep) -> TPipeStep:
 
             try:
                 for i in gen:  # type: ignore # TODO: help me fix this later
+                    # return item to caller
                     yield i
+
+                    # evaluate stop conditions
                     if i is not None:
                         count += 1
                         # async gen yields awaitable so we must count one awaitable more
@@ -392,6 +417,21 @@ def _gen_wrap(gen: TPipeStep) -> TPipeStep:
                         # new awaitable will be cancelled
                         if count == max_items + int(is_async_gen):
                             return
+                        # if we crossed the max time, we will stop
+                        if max_time and time.time() - start_time > max_time:
+                            return
+
+                    # apply rate limiting
+                    if min_wait:
+                        while (last_iteration + min_wait) - time.time() > 0:
+                            # we give control back to the pipe iterator
+                            yield None
+                            time.sleep(0.1)
+
+                    # remember last iteration time
+                    if min_wait:
+                        last_iteration = time.time()
+
             finally:
                 if inspect.isgenerator(gen):
                     gen.close()
diff --git a/tests/extract/test_limits.py b/tests/extract/test_limits.py
new file mode 100644
index 0000000000..4e09a9c86a
--- /dev/null
+++ b/tests/extract/test_limits.py
@@ -0,0 +1,122 @@
+import dlt
+import itertools
+import pytest
+import asyncio
+import os
+import time
+
+
+@pytest.fixture(autouse=True)
+def set_round_robin():
+    """this can be removed after the round robin PR is merged to devel"""
+    os.environ["EXTRACT__NEXT_ITEM_MODE"] = "round_robin"
+    yield
+    del os.environ["EXTRACT__NEXT_ITEM_MODE"]
+
+
+def test_item_limit_infinite_counter() -> None:
+    r = dlt.resource(itertools.count(), name="infinity").add_limit(10)
+    assert list(r) == list(range(10))
+
+
+def test_item_limit_source() -> None:
+    os.environ["EXTRACT__NEXT_ITEM_MODE"] = "fifo"
+
+    def mul_c(item):
+        yield from "A" * (item + 2)
+
+    @dlt.source
+    def infinite_source():
+        for idx in range(3):
+            r = dlt.resource(itertools.count(), name=f"infinity_{idx}").add_limit(10)
+            yield r
+            yield r | dlt.transformer(name=f"mul_c_{idx}")(mul_c)
+
+    # transformer is not limited to 2 elements, infinite resource is, we have 3 resources
+    assert list(infinite_source().add_limit(2)) == ["A", "A", 0, "A", "A", "A", 1] * 3
+
+
+@pytest.mark.parametrize("limit", (None, -1, 0, 10))
+def test_item_limit_edge_cases(limit: int) -> None:
+    r = dlt.resource(range(20), name="infinity").add_limit(limit)  # type: ignore
+
+    @dlt.resource()
+    async def r_async():
+        for i in range(20):
+            await asyncio.sleep(0.01)
+            yield i
+
+    sync_list = list(r)
+    async_list = list(r_async().add_limit(limit))
+
+    if limit == 10:
+        assert sync_list == list(range(10))
+        # we have edge cases where the async list will have one extra item
+        # possibly due to timing issues, maybe some other implementation problem
+        assert (async_list == list(range(10))) or (async_list == list(range(11)))
+    elif limit in [None, -1]:
+        assert sync_list == async_list == list(range(20))
+    elif limit == 0:
+        assert sync_list == async_list == []
+    else:
+        raise AssertionError(f"Unexpected limit: {limit}")
+
+
+def test_time_limit() -> None:
+    @dlt.resource()
+    def r():
+        for i in range(100):
+            time.sleep(0.1)
+            yield i
+
+    @dlt.resource()
+    async def r_async():
+        for i in range(100):
+            await asyncio.sleep(0.1)
+            yield i
+
+    sync_list = list(r().add_limit(max_time=1))
+    async_list = list(r_async().add_limit(max_time=1))
+
+    # we should have extracted 10 items within 1 second, sleep is included in the resource
+    allowed_results = [
+        list(range(12)),
+        list(range(11)),
+        list(range(10)),
+        list(range(9)),
+        list(range(8)),
+    ]
+    assert sync_list in allowed_results
+    assert async_list in allowed_results
+
+
+def test_min_wait() -> None:
+    @dlt.resource()
+    def r():
+        for i in range(100):
+            yield i
+
+    @dlt.resource()
+    async def r_async():
+        for i in range(100):
+            yield i
+
+    sync_list = list(r().add_limit(max_time=1, min_wait=0.2))
+    async_list = list(r_async().add_limit(max_time=1, min_wait=0.2))
+
+    # we should have extracted about 5 items within 1 second, sleep is done via min_wait
+    allowed_results = [
+        list(range(3)),
+        list(range(4)),
+        list(range(5)),
+        list(range(6)),
+        list(range(7)),
+    ]
+    assert sync_list in allowed_results
+    assert async_list in allowed_results
+
+
+# TODO: Test behavior in pipe iterator with more than one resource with different extraction modes set. We want to see if an overall rate limiting can be achieved with fifo which
+# will be useful for APIs. Also round robin should apply rate limiting individually and not get stuck on one iterator sleeping.
+
+# it would also be nice to be able to test the logger warnings if no incremental is present
diff --git a/tests/extract/test_sources.py b/tests/extract/test_sources.py
index 3d021d5d10..820ab84f3a 100644
--- a/tests/extract/test_sources.py
+++ b/tests/extract/test_sources.py
@@ -830,52 +830,6 @@ def test_add_transformer_right_pipe() -> None:
         iter([1, 2, 3]) | dlt.resource(lambda i: i * 3, name="lambda")
 
 
-def test_limit_infinite_counter() -> None:
-    r = dlt.resource(itertools.count(), name="infinity").add_limit(10)
-    assert list(r) == list(range(10))
-
-
-@pytest.mark.parametrize("limit", (None, -1, 0, 10))
-def test_limit_edge_cases(limit: int) -> None:
-    r = dlt.resource(range(20), name="infinity").add_limit(limit)  # type: ignore
-
-    @dlt.resource()
-    async def r_async():
-        for i in range(20):
-            await asyncio.sleep(0.01)
-            yield i
-
-    sync_list = list(r)
-    async_list = list(r_async().add_limit(limit))
-
-    if limit == 10:
-        assert sync_list == list(range(10))
-        # we have edge cases where the async list will have one extra item
-        # possibly due to timing issues, maybe some other implementation problem
-        assert (async_list == list(range(10))) or (async_list == list(range(11)))
-    elif limit in [None, -1]:
-        assert sync_list == async_list == list(range(20))
-    elif limit == 0:
-        assert sync_list == async_list == []
-    else:
-        raise AssertionError(f"Unexpected limit: {limit}")
-
-
-def test_limit_source() -> None:
-    def mul_c(item):
-        yield from "A" * (item + 2)
-
-    @dlt.source
-    def infinite_source():
-        for idx in range(3):
-            r = dlt.resource(itertools.count(), name=f"infinity_{idx}").add_limit(10)
-            yield r
-            yield r | dlt.transformer(name=f"mul_c_{idx}")(mul_c)
-
-    # transformer is not limited to 2 elements, infinite resource is, we have 3 resources
-    assert list(infinite_source().add_limit(2)) == ["A", "A", 0, "A", "A", "A", 1] * 3
-
-
 def test_source_state() -> None:
     @dlt.source
     def test_source(expected_state):