A $1.0M market order in $LINK gave up an estimated 24.3 bps at 14:00 UTC on Nov 10, the steepest cost of the eight books we read. In $BTC the same order cost 0.8 bps.
That cost is slippage, the gap between the quoted price and the average fill. A basis point is a hundredth of a percent. Cardano was next on the thin side at 20.2 bps, then Dogecoin at 10.7 bps. Ether cost 1.5 bps and Solana 3.3 bps.
On a thin book, a burst of forced closes runs through fewer resting orders before the price gives way, whichever side gets hit. These costs are modeled from the resting bids and offers.
That cost is slippage, the gap between the quoted price and the average fill. A basis point is a hundredth of a percent. Cardano was next on the thin side at 20.2 bps, then Dogecoin at 10.7 bps. Ether cost 1.5 bps and Solana 3.3 bps.
On a thin book, a burst of forced closes runs through fewer resting orders before the price gives way, whichever side gets hit. These costs are modeled from the resting bids and offers.
