Chainlink had the costliest book of the eight we track on Oct 17. A $1.0M market order in $LINK cost an estimated 21.3 bps in slippage, against 0.4 bps for the same order in $BTC and 0.6 bps in Ether.
Cardano sat next on the thin side at 17.4 bps, then Dogecoin at 11.2 bps and BNB at 7.1 bps. Solana at 2.6 bps and XRP at 5.2 bps filled out the deeper half.
Slippage is how far one order pushes price against itself before it fills. On books as thin as $LINK and Cardano, a burst of forced closures of that size meets the same shallow depth, whichever side it comes from.
Cardano sat next on the thin side at 17.4 bps, then Dogecoin at 11.2 bps and BNB at 7.1 bps. Solana at 2.6 bps and XRP at 5.2 bps filled out the deeper half.
Slippage is how far one order pushes price against itself before it fills. On books as thin as $LINK and Cardano, a burst of forced closures of that size meets the same shallow depth, whichever side it comes from.