Pushing size through Chainlink cost far more than through Bitcoin. At 14:00 UTC on Nov 14, a $1.0M market order in $LINK gave up 20.4 bps, the most of the eight books we read. The same order in $BTC cost 0.8 bps.
$ADA was the next thinnest at 18.4 bps, then BNB at 12 bps and Dogecoin at 11.7 bps. On the deep side, Ether cost 1.6 bps and Solana 4.4 bps. A basis point is a hundredth of a percent of price.
On a thin book, each forced closure eats through more price levels to get filled. A cluster of liquidations moves price further on the coins at the bottom of this list than on the ones at the top.
$ADA was the next thinnest at 18.4 bps, then BNB at 12 bps and Dogecoin at 11.7 bps. On the deep side, Ether cost 1.6 bps and Solana 4.4 bps. A basis point is a hundredth of a percent of price.
On a thin book, each forced closure eats through more price levels to get filled. A cluster of liquidations moves price further on the coins at the bottom of this list than on the ones at the top.
