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What Is an Order Book?
The order book lists all open buy and sell orders for a market. Learn how to read bids, asks and the spread.
Bids and asks
The order book shows buy orders (bids) and sell orders (asks) waiting to be filled at specific prices. The highest bid and the lowest ask are the best prices available right now.
The spread
The gap between the best bid and best ask is the spread. A narrow spread usually means the market is liquid and cheap to trade.
Depth and liquidity
Depth describes how many orders sit at each price level. Thin depth means a large order can move the price significantly, an effect known as slippage.
How it connects to your orders
A market order matches against the order book immediately. A limit order is placed in the order book and waits until the market reaches your price.
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Educational content only, not financial advice. Crypto assets carry a high risk of loss.
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