On Oct 30, pushing $1.0M through Chainlink at market cost far more than the same order in Bitcoin. Walking the live $LINK book at 14:00 UTC, the estimated gap between the quoted price and the average fill came to 31.5 bps, the steepest of the eight books we track. $ADA followed at 26.6 bps.
At the deep end, $BTC absorbed the same modeled order for 0.8 bps and Ether for 1.1 bps, with Solana at 3.1 bps.
Forced closures go through as market orders. In a book as thin as Chainlink's, each one moves the price further per dollar than in Bitcoin's, whichever side gets hit.
At the deep end, $BTC absorbed the same modeled order for 0.8 bps and Ether for 1.1 bps, with Solana at 3.1 bps.
Forced closures go through as market orders. In a book as thin as Chainlink's, each one moves the price further per dollar than in Bitcoin's, whichever side gets hit.
