BTW Order Book Depth: Binance vs Bybit

BTW Order Book Depth

How much BTW is resting in the perpetual-futures order books of Binance and Bybit, side by side: bid and ask USD within ±0.1%, 0.5%, 1% and 2% of mid, the bid/ask imbalance, and what a $100k and a $1M market order would cost in basis points. Live snapshots from the exchanges' public order-book APIs, refreshed every couple of minutes.

BTW is #13 by open interest on Binance ($154.18M). BTW is not among Bybit's top 20 perps by open interest right now, so its Bybit book isn't tracked here. Within ±2% of mid, Binance holds $160K of BTW bids and $223K of asks. A $100k market buy costs 27.8 bps and a $1M buy ≥ 305.1 bps from mid; selling costs 52.4 bps and ≥ 367.6 bps. Bid/ask imbalance within ±1% of mid: Binance -25%, ask-heavy.

1 order book500 levels per sideSource: Binance and Bybit public APIsAs of 03:26 UTC

Binance BTWUSDT

#13 by OI · $154.18M open interest

Mid 1.268Spread 0.79 bpsImbalance ±1% -25%

Band	Bids	Asks	Total
±0.1%	$7,326	$13K	$21K
±0.5%	$55K	$89K	$145K
±1%	$83K	$139K	$222K
±2%	$160K	$223K	$383K

Market order	Buy	Sell
$100K	27.80 bps	52.35 bps
$1.00M	≥ 305.14 bps (truncated)	≥ 367.58 bps (truncated)

Bybit

BTW is not among Bybit's top 20 perps by open interest right now, so its Bybit book isn't tracked here.

How to read it. Each band row shows the resting bid and ask USD 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. Market order rows give the average fill versus mid, in basis points, half-spread included and fees excluded.

BTW has a page here while it is among the 20 USDT perpetuals with the most open interest on Binance or Bybit. Compare every coin on the order book depth table, or see BTW price and open interest. Snapshots from Binance's and Bybit's public order-book APIs, refreshed every couple of minutes while the page is viewed; nothing is stored. Not financial advice.

BTW order book FAQ

How deep is the BTW order book?

The tables show the USD value of resting BTW bids and asks within ±0.1%, 0.5%, 1% and 2% of the mid price on Binance and Bybit, from a live snapshot of each exchange's book. Values marked ≥ (truncated) are lower bounds: the exchange returned its 500 best levels per side and they end inside that band.

How much does a $100k or $1M BTW market order move the price?

We walk the ask side (for a buy) or the bid side (for a sell) from the best price until the order is filled, and compare the average fill with the mid price, in basis points (1 bps = 0.01%). Half the spread is included; fees, hidden orders and the book moving while you trade are not.

What does bid/ask imbalance mean?

(bids - asks) / (bids + asks) within ±1% of mid: positive means more resting buy orders, negative more sell orders. Resting orders can be pulled at any moment, so it is a snapshot of intent, not a signal on its own. Nothing here is financial advice.