ONE TICK IN PEPE IS 0.34% — TINY DECIMALS CAN HIDE REAL FRICTION.
At 09:02 ICT, PEPE is up 3.17% over 24 hours near 0.00000293, with $10.21M in quote volume. The best bid was 0.00000292 and the best ask 0.00000293: only one tick apart, but roughly a 0.34% spread. In the same snapshot, the top 20 levels held about $1.76M of bids versus $2.23M of asks.
Practical lesson: measure spreads in percentage terms, not decimal places. Visible depth changes quickly and is not guaranteed liquidity. Tiny numbers can still carry meaningful execution cost. #RiskManagement $PEPE
At 09:02 ICT, PEPE is up 3.17% over 24 hours near 0.00000293, with $10.21M in quote volume. The best bid was 0.00000292 and the best ask 0.00000293: only one tick apart, but roughly a 0.34% spread. In the same snapshot, the top 20 levels held about $1.76M of bids versus $2.23M of asks.
Practical lesson: measure spreads in percentage terms, not decimal places. Visible depth changes quickly and is not guaranteed liquidity. Tiny numbers can still carry meaningful execution cost. #RiskManagement $PEPE