Crypto Bid/Ask Ratio
The bid/ask ratio is the share of resting orders within ±1% of mid that are bids: bid USD / (bid USD + ask USD), pooled across Binance and Bybit perpetual futures. Above 50% means more buy orders are waiting below the price than sell orders above it. The table ranks the 30 perps with the most resting depth by their latest 5-minute snapshot and compares it with the last 24 hours and 7 days.
Most bid-heavy within ±1% of mid right now: PAXG (56.0% of resting orders are bids, imbalance +12%); most ask-heavy: AVAX (43.6% bids, -13%). Furthest from its own 7-day average: AVAX, 43.6% bids now against 51.8% on average (z-score -2.9, ask side heavier than usual): unusual. 17 of these 30 coins have more resting bids than asks within ±1% of mid. For 6 of them (the deepest books, such as BTC and ETH) the exchanges' order-book snapshots end inside ±1% of mid, so their figures cover the visible book only.
Top 30 perps by ±1% depth, most bid-heavy first
Binance + Bybit pooled · latest 5-minute snapshot| Coin | Bid share now | Imbalance | Depth ±1% | 24h average | 7d average | Z-score |
|---|---|---|---|---|---|---|
| 1PAXG | 56.0% | +12% | $8.94M | 55.8% | 51.4% | +1.0 |
| 2XAU vis. | 55.9% | +12% | ≥ $15.04M | 51.4% | 51.7% | +1.2 |
| 3XAG | 55.3% | +11% | $17.89M | 51.3% | 51.0% | +1.0 |
| 4PUMP | 54.0% | +8% | $3.42M | 51.7% | 52.0% | +0.5 |
| 5ADA | 53.8% | +8% | $11.33M | 52.1% | 52.2% | +0.9 |
| 6HYPE vis. | 53.4% | +7% | ≥ $28.35M | 53.0% | 52.4% | +0.5 |
| 7ETH vis. | 53.1% | +6% | ≥ $215.22M | 49.7% | 50.1% | +1.4 |
| 8LTC | 52.9% | +6% | $7.60M | 51.7% | 52.5% | +0.2 |
| 9SOXL | 52.6% | +5% | $4.86M | 50.4% | 49.9% | +0.5 |
| 10SPCX | 52.3% | +5% | $4.25M | 51.0% | 49.8% | +0.8 |
| 11TRX | 51.6% | +3% | $5.85M | 53.9% | 52.7% | -0.4 |
| 12LINK | 51.5% | +3% | $11.01M | 52.1% | 52.8% | -0.5 |
| 13AAVE | 51.4% | +3% | $7.54M | 52.2% | 52.8% | -0.5 |
| 14SOL | 51.1% | +2% | $73.89M | 49.8% | 50.4% | +0.3 |
| 15XAUT vis. | 51.1% | +2% | ≥ $12.89M | 50.2% | 46.6% | +0.8 |
| 16ZEC vis. | 51.0% | +2% | ≥ $25.89M | 51.4% | 50.9% | +0.0 |
| 17BNB | 50.8% | +2% | $22.28M | 52.3% | 51.0% | -0.1 |
| 18SUI | 50.0% | -0% | $12.72M | 52.4% | 53.2% | -1.6 |
| 19XRP | 49.4% | -1% | $49.24M | 50.4% | 51.3% | -0.9 |
| 20WLD | 49.4% | -1% | $6.16M | 50.0% | 51.1% | -0.6 |
| 21ENA | 49.3% | -1% | $7.31M | 53.3% | 52.6% | -1.1 |
| 22BTC vis. | 49.1% | -2% | ≥ $157.70M | 49.4% | 49.2% | -0.0 |
| 23NEAR | 49.0% | -2% | $10.66M | 50.7% | 51.2% | -1.0 |
| 24NVDA | 48.8% | -2% | $5.64M | 50.5% | 49.5% | -0.1 |
| 25SNDK | 48.8% | -2% | $7.62M | 49.9% | 49.6% | -0.2 |
| 26DOGE | 47.5% | -5% | $27.48M | 50.3% | 50.4% | -2.1 |
| 27PEPE | 46.4% | -7% | $8.24M | 49.7% | 51.5% | -1.4 |
| 28UNI | 46.2% | -8% | $9.62M | 50.3% | 50.5% | -2.1 |
| 29TAO | 44.7% | -11% | $4.01M | 50.4% | 52.7% | -1.7 |
| 30AVAX | 43.6% | -13% | $8.83M | 51.5% | 51.8% | -2.9 |
BTC bid/ask ratio
Bid share of resting orders, Binance + BybitLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
ETH bid/ask ratio
Bid share of resting orders, Binance + BybitLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
How to read it. Bid share is bid USD / (bid USD + ask USD) resting within ±1% of the mid price, with Binance's and Bybit's books added together; 50% is balanced. Imbalance is the same on a −100% to +100% scale. The z-score compares the latest 5-minute snapshot with its own 7-day average: a coin that is always bid-heavy only stands out when it is more so than usual.
Limits. Resting orders are intent, not trades: they can be pulled at any moment, and big walls are sometimes placed to be seen rather than filled (spoofing). Each coin is sampled once every 5 minutes, so anything shorter is missed. The exchanges' public APIs return 1,000 (Binance) or 500 (Bybit) levels per side, which end about ±0.15% from mid on BTC and ±0.4% on ETH; coins marked vis. have books that end inside ±1%, so their figures cover the visible book only and their depth is a lower bound. For live books with $1M order costs see order book depth. Not financial advice.
Bid/ask ratio FAQ
What is the bid/ask ratio?
The USD value of resting bids within ±1% of the mid price divided by the bids plus the asks in the same band. 50% is balanced; 60% means six of every ten dollars resting near the price are buy orders. Imbalance is the same thing on a -100% to +100% scale: (bids - asks) / (bids + asks).
Is a high bid/ask ratio bullish?
Not on its own. Resting orders are intent, not trades: they can be cancelled at any moment, and large walls are sometimes placed to be seen and pulled before they fill (spoofing). A ratio far from a coin's own average (a large z-score) is worth a look next to open interest, funding and CVD, not a signal by itself. Nothing here is financial advice.
How often is it measured, and how far back does it go?
One REST order-book snapshot per coin and exchange every 5 minutes (heat-map coins every minute, one kept per 5 minutes), for each of Binance's and Bybit's 30 perps with the most open interest. Anything that appears and disappears between two snapshots is missed. Five-minute points are kept for 30 days and hourly averages for good, from when this site started recording them.
Why are BTC and ETH marked as the visible book only?
The exchanges' public order-book APIs return at most 1,000 (Binance) or 500 (Bybit) price levels per side. On the deepest books those levels end about 0.15% (BTC) or 0.4% (ETH) from mid, so the ±1% band holds everything that is visible: the dollar figures are lower bounds and the ratio compares the visible bids with the visible asks, which can reach slightly different depths.
How are the averages and z-score calculated?
Each 5-minute snapshot gives a ratio, pooling Binance and Bybit. The 24-hour and 7-day averages are the means of those ratios; the z-score is how many standard deviations the latest one sits from the 7-day average. Both need at least 12 hours of snapshots.