Crypto Order Book Depth and Liquidity
How much is resting in the order books of the 20 perpetual futures with the most open interest on Binance and Bybit: bid and ask USD within ±0.1%, 0.5%, 1% and 2% of mid, the bid/ask imbalance, and what a $1M market order would cost in basis points. Live snapshots from the exchanges' public order-book APIs, refreshed every couple of minutes.
Thinnest book right now: LIT on Bybit, with $765K resting within ±1% of mid, then WLFI on Binance ($1.64M), ASTER on Binance ($2.41M). A $1M market order costs least on BTC on Binance (0.50 bps from mid, buy and sell averaged) and most on LIT on Bybit (≥ 150.4 bps). Most bid-heavy book: LIT on Bybit (+19%); most ask-heavy: WLFI on Binance (-39%). Median $1M market buy across each top 20: Binance 14.3 bps vs Bybit 15.6 bps.
Thinnest books
least USD within ±1% of mid, both exchangesBinance order book depth · top 20 perps by OI
bids over asks, USD within each band of mid · click a header to sort| Coin | # | OI | Spread | ±0.1% | ±0.5% | ±1% | ±2% | Imbalance | $1M buy | $1M sell |
|---|---|---|---|---|---|---|---|---|---|---|
| BTC BTCUSDT | 1 | $7.21B | 0.01 bps | ≥ $18.76M (truncated)≥ $17.85M (truncated) | ≥ $18.76M (truncated)≥ $17.85M (truncated) | ≥ $18.76M (truncated)≥ $17.85M (truncated) | ≥ $18.76M (truncated)≥ $17.85M (truncated) | +2%within ±0.08% | 0.8 | 0.2 |
| ETH ETHUSDT | 2 | $4.72B | 0.05 bps | $13.24M$9.50M | ≥ $32.41M (truncated)≥ $34.82M (truncated) | ≥ $32.41M (truncated)≥ $34.82M (truncated) | ≥ $32.41M (truncated)≥ $34.82M (truncated) | -5%within ±0.25% | 1.9 | 0.8 |
| SOL SOLUSDT | 3 | $800.81M | 1.20 bps | $1.89M$2.02M | $14.03M$13.76M | $23.09M$21.70M | $40.84M$36.57M | +3% | 3.6 | 2.9 |
| ZEC ZECUSDT | 4 | $461.78M | 0.10 bps | $632K$530K | $2.73M$3.43M | ≥ $3.06M (truncated)≥ $3.71M (truncated) | ≥ $3.06M (truncated)≥ $3.71M (truncated) | -10%within ±0.59% | 8.4 | 9.2 |
| HYPE HYPEUSDT | 5 | $384.44M | 0.14 bps | $385K$407K | $4.15M$4.03M | ≥ $5.56M (truncated)≥ $5.42M (truncated) | ≥ $5.56M (truncated)≥ $5.42M (truncated) | +1%within ±0.75% | 10.5 | 10.7 |
| BNB BNBUSDT | 6 | $363.60M | 0.15 bps | $1.16M$1.10M | $6.30M$5.48M | ≥ $8.55M (truncated)≥ $7.07M (truncated) | ≥ $8.55M (truncated)≥ $7.07M (truncated) | +9%within ±0.75% | 4.8 | 4.4 |
| XRP XRPUSDT | 7 | $315.81M | 0.96 bps | $1.46M$1.31M | $8.58M$8.62M | $14.68M$13.10M | $22.35M$19.03M | +6% | 5.0 | 4.3 |
| NEAR NEARUSDT | 8 | $172.95M | 2.81 bps | $213K$228K | $1.12M$1.46M | $3.17M$2.99M | $5.92M$5.28M | +3% | 21.1 | 23.4 |
| DOGE DOGEUSDT | 9 | $164.73M | 1.49 bps | $781K$699K | $4.44M$5.82M | $8.08M$8.84M | $17.96M$17.93M | -4% | 8.3 | 7.8 |
| WLFI WLFIUSDT | 10 | $162.44M | 2.10 bps | $19K$41K | $236K$533K | $500K$1.14M | $990K$1.57M | -39% | 57.4 | 103.9 |
| UNI UNIUSDT | 11 | $124.83M | 1.60 bps | $160K$102K | $1.70M$1.68M | $3.20M$2.98M | $4.64M$4.31M | +4% | 17.7 | 15.7 |
| PEPE 1000PEPEUSDT | 12 | $99.01M | 0.22 bps | $144K$114K | $801K$768K | $1.62M$1.61M | ≥ $2.04M (truncated)≥ $1.91M (truncated) | +1% | 31.2 | 31.2 |
| PAXG PAXGUSDT | 13 | $97.33M | 0.03 bps | $949K$895K | ≥ $2.87M (truncated)≥ $2.61M (truncated) | ≥ $2.87M (truncated)≥ $2.61M (truncated) | ≥ $2.87M (truncated)≥ $2.61M (truncated) | +15%within ±0.34% | 6.3 | 5.0 |
| ASTER ASTERUSDT | 14 | $88.36M | 1.52 bps | $46K$63K | $505K$464K | $1.41M$998K | $2.98M$2.09M | +17% | 55.8 | 45.6 |
| LINK LINKUSDT | 15 | $81.74M | 0.99 bps | $114K$183K | $1.41M$2.06M | $3.82M$3.45M | $6.41M$5.35M | +5% | 17.0 | 22.9 |
| SUI SUIUSDT | 16 | $79.40M | 1.22 bps | $473K$364K | $2.85M$2.54M | $4.47M$4.08M | $7.89M$6.25M | +5% | 11.6 | 9.7 |
| AVAX AVAXUSDT | 17 | $79.01M | 1.17 bps | $108K$127K | $721K$1.09M | $2.51M$2.44M | $4.88M$4.47M | +1% | 26.2 | 36.1 |
| ENA ENAUSDT | 18 | $71.63M | 0.70 bps | $90K$110K | $1.04M$1.15M | $2.50M$2.33M | $4.24M$3.46M | +4% | 25.5 | 28.4 |
| TRX TRXUSDT | 19 | $63.87M | 0.32 bps | $261K$274K | $1.46M$1.27M | $2.12M$2.01M | ≥ $3.79M (truncated)≥ $3.63M (truncated) | +3% | 19.0 | 19.3 |
| BCH BCHUSDT | 20 | $60.66M | 0.44 bps | $82K$54K | $862K$626K | $1.67M$1.25M | $5.01M$4.33M | +14% | 40.6 | 34.7 |
Bybit order book depth · top 20 perps by OI
bids over asks, USD within each band of mid · click a header to sort| Coin | # | OI | Spread | ±0.1% | ±0.5% | ±1% | ±2% | Imbalance | $1M buy | $1M sell |
|---|---|---|---|---|---|---|---|---|---|---|
| BTC BTCUSDT | 1 | $2.51B | 0.01 bps | $18.59M$19.33M | ≥ $27.65M (truncated)≥ $25.67M (truncated) | ≥ $27.65M (truncated)≥ $25.67M (truncated) | ≥ $27.65M (truncated)≥ $25.67M (truncated) | -2%within ±0.13% | 0.3 | 1.0 |
| ETH ETHUSDT | 2 | $755.25M | 0.05 bps | $9.10M$6.43M | ≥ $35.50M (truncated)≥ $32.43M (truncated) | ≥ $35.50M (truncated)≥ $32.43M (truncated) | ≥ $35.50M (truncated)≥ $32.43M (truncated) | +6%within ±0.32% | 2.0 | 1.5 |
| SOL SOLUSDT | 3 | $257.00M | 1.20 bps | $1.95M$1.56M | $9.86M$7.96M | $12.55M$10.18M | $15.02M$14.57M | +10% | 5.1 | 2.7 |
| XRP XRPUSDT | 4 | $131.20M | 0.96 bps | $763K$776K | $7.89M$7.14M | $11.70M$9.38M | $13.02M$11.35M | +11% | 7.1 | 6.7 |
| HYPE HYPEUSDT | 5 | $113.10M | 0.14 bps | $375K$333K | $3.87M$4.14M | ≥ $6.62M (truncated)≥ $5.75M (truncated) | ≥ $6.62M (truncated)≥ $5.75M (truncated) | +5%within ±0.86% | 12.9 | 11.1 |
| ZEC ZECUSDT | 6 | $79.72M | 0.10 bps | $157K$169K | $1.98M$2.62M | ≥ $3.84M (truncated)≥ $4.61M (truncated) | ≥ $3.84M (truncated)≥ $4.61M (truncated) | -7%within ±0.91% | 16.9 | 16.4 |
| XAUT XAUTUSDT | 7 | $71.22M | 0.03 bps | $401K$700K | $3.88M$4.03M | ≥ $3.90M (truncated)≥ $4.35M (truncated) | ≥ $3.90M (truncated)≥ $4.35M (truncated) | -2%within ±0.51% | 7.7 | 9.5 |
| XAU XAUUSDT | 8 | $65.48M | 0.03 bps | $1.19M$1.13M | $7.02M$6.14M | ≥ $7.20M (truncated)≥ $7.02M (truncated) | ≥ $7.20M (truncated)≥ $7.02M (truncated) | +4%within ±0.66% | 5.1 | 5.9 |
| NEAR NEARUSDT | 9 | $53.61M | 2.81 bps | $101K$127K | $854K$934K | $1.71M$1.72M | $2.85M$2.68M | -0% | 31.2 | 34.3 |
| DOGE DOGEUSDT | 10 | $45.90M | 1.49 bps | $344K$385K | $5.14M$5.73M | $7.93M$8.28M | $8.58M$8.98M | -2% | 11.3 | 12.5 |
| BNB BNBUSDT | 11 | $44.85M | 0.15 bps | $369K$351K | $2.51M$2.86M | $4.05M$4.14M | ≥ $4.41M (truncated)≥ $4.40M (truncated) | -1% | 15.6 | 14.0 |
| NVDA NVDAUSDT | 12 | $39.56M | 0.62 bps | $72K$135K | $1.64M$2.09M | $2.45M$2.43M | $2.79M$2.68M | +0% | 15.5 | 22.4 |
| SOXL SOXLUSDT | 13 | $30.99M | 1.63 bps | $135K$177K | $1.66M$1.94M | $2.44M$2.56M | $2.77M$2.89M | -2% | 21.7 | 22.5 |
| AVAX AVAXUSDT | 14 | $30.42M | 1.17 bps | $48K$68K | $693K$767K | $2.03M$2.01M | $2.72M$2.24M | +0% | 37.4 | 44.9 |
| SUI SUIUSDT | 15 | $30.29M | 1.22 bps | $170K$198K | $1.43M$1.35M | $2.62M$2.53M | $3.11M$2.82M | +2% | 21.1 | 22.8 |
| TRX TRXUSDT | 16 | $29.66M | 3.15 bps | $98K$118K | $865K$817K | $1.78M$1.47M | $2.38M$2.38M | +9% | 33.9 | 35.8 |
| LIT LITUSDT | 17 | $29.35M | 1.22 bps | $5,897$6,108 | $202K$165K | $456K$309K | $732K$755K | +19% | ≥ 153.7 (truncated) | ≥ 147.1 (truncated) |
| LINK LINKUSDT | 18 | $29.04M | 0.99 bps | $107K$146K | $1.28M$1.44M | $2.35M$2.43M | $2.89M$2.74M | -2% | 23.9 | 27.5 |
| LTC LTCUSDT | 19 | $26.56M | 2.00 bps | $81K$76K | $1.03M$1.01M | $1.67M$1.60M | $2.34M$1.97M | +2% | 33.8 | 29.6 |
| PEPE 1000PEPEUSDT | 20 | $26.21M | 2.19 bps | $145K$124K | $1.16M$1.27M | $2.40M$2.72M | $3.07M$3.25M | -6% | 26.5 | 26.0 |
How to read it. Each band cell shows the resting bid USD (top) and ask USD (bottom) within that distance of the mid price. ≥ $X (truncated) means the exchange's 500 returned levels end inside the band, so the real figure is at least that. Imbalance is (bids − asks) / (bids + asks) within ±1%, or within the range the snapshot reaches on both sides when that is less. $1M buy / sell is the average fill of a $1M market order versus mid, in basis points, half-spread included and fees excluded. Depth bands, imbalance and slippage explained.
The 20 USDT perpetuals with the most open interest on each exchange (see the open interest screener). Snapshots from Binance's and Bybit's public order-book APIs, refreshed every couple of minutes while the page is viewed; nothing is stored. Resting orders can be pulled at any time. Not financial advice.
What is order book depth and how to read it
An exchange's order book is the list of resting limit orders: bids from buyers below the price and asks from sellers above it. Order book depth is how much of that is waiting close to the price, usually measured in USD within a set distance of the mid price, such as ±0.1%, ±1% or ±2%. It tells you how much can be traded before the price has to move.
A deep book absorbs a large market order with little price impact, because there is enough size at the first few price levels to fill it. A thin book does not: the order eats through level after level and the average fill ends up far from where the price started. That cost is called slippage, and the tables above measure it directly as the cost of a $1M market order in basis points (1 bps = 0.01%). Right now a $1M market buy of BTC on Binance costs 0.78 bps from mid.
To read the tables, compare the bid and ask USD in each band: more bids than asks (a positive imbalance) means more resting buy interest near the price, and the reverse means more sell interest. Depth changes by the second, and large orders can be pulled before they fill, so treat it as a snapshot of liquidity rather than a prediction. Depth usually thins out in fast markets, which is when slippage and liquidations spike.
Order book depth FAQ
What does order book depth mean?
It means how much can be bought or sold near the current price before the price moves. Deep means a lot of resting orders close to the price, so even large market orders fill near it; shallow or thin means few, so the same order walks up or down the book and moves the price. In practice depth is read as liquidity: the more USD within ±1% of mid, the more liquid the market.
What is order book depth?
Order book depth is how much is waiting to be traded near the current price: the USD value of the resting limit orders on the bid side (buyers) and ask side (sellers) within a given distance of the mid price. A deep book absorbs large market orders with little price impact; a thin one moves sharply, which is where liquidation cascades start.
What does bid/ask imbalance mean?
Imbalance is (bids - asks) / (bids + asks) within ±1% of mid. Positive: more resting buy orders than sell orders, negative: the reverse. Resting orders can be pulled at any moment, so imbalance is a snapshot of intent, not a signal on its own. When the snapshot does not reach ±1% on both sides, imbalance is measured over the range it does reach, shown under the figure.
Why do some values say "≥ $X (truncated)"?
Each exchange returns at most the 500 best price levels per side. For the most liquid perps (BTC, ETH) those 500 levels end within about 0.1-0.3% of mid, so a wider band holds at least what we can see and probably much more. Those values are lower bounds and are marked, never shown as exact. The same applies to a $1M order cost when the returned levels hold less than $1M.
How is the $1M market-order cost calculated?
We walk the ask side (for a buy) or the bid side (for a sell) from the best price, filling $1M of notional level by level, and compare the average fill price with the mid price, in basis points (1 bps = 0.01%). It includes half the spread and ignores fees, hidden orders and the book moving while you trade.
Which markets are covered, and how often is it updated?
The 20 USDT-margined perpetuals with the most open interest on each of Binance and Bybit, from the open interest this site tracks. A fresh snapshot of each book is taken from the exchanges' public APIs every couple of minutes while the page is viewed. Nothing is stored and nothing here is financial advice.