What is an Order Book?
A real-time list of all buy and sell orders for an asset, organized by price level. Shows market supply and demand at a glance.
Asks (Sell Orders)
Orders to sell at specific prices. Lower asks are filled first. Shown in red, represents selling pressure in the market.
Referral Code
TRADEOFF20
Check TRADEOFF20 fee terms before your first trade
Bids (Buy Orders)
Orders to buy at specific prices. Higher bids are filled first. Shown in green, represents buying demand in the market.
Order Book Example
Illustrative snapshot showing how asks, bids, and spread line up around the mid-market price.
Spread
$20.00
This is a static educational example. Real order books change continuously and can look very different across exchanges.
Key Concepts
Bid-Ask Spread
Difference between highest bid and lowest ask. Tighter spreads indicate higher liquidity.
Market Depth
Total volume at each price level. Deeper markets handle larger orders with less slippage.
Order Walls
Large orders at specific prices that can act as support or resistance levels.
Slippage
The difference between expected and executed price. Higher in low-liquidity markets.
How to Read Order Books
Bullish Signs
- Large buy walls (strong support)
- Bids stacking up quickly
- Asks getting eaten fast
Bearish Signs
- Large sell walls (strong resistance)
- Asks stacking up quickly
- Bids getting eaten fast
Key Takeaways
Order books show real-time supply and demand for an asset.
Tight spreads indicate high liquidity and easier trading.
Large orders (walls) can indicate support/resistance but may be fake.
Monitor order book changes to gauge market sentiment shifts.
Referral Code
TRADEOFF20
Check TRADEOFF20 fee terms before your first trade
Best Exchanges with Deep Liquidity
Trade on exchanges with the deepest order books for best execution.
Binance
Deep Liquidity
Bybit
Order Book Depth
OKX
Advanced Charts
Aster DEX
On-Chain Book