Exchange Market Quality
Binance has the deepest nearby BTC book, but it carries 42.5% of the tracked depth.
This page shows where a BTC order has room to trade and where the visible market is thin. It does not claim to measure solvency.
BTCbuyers meet sellers
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Size and ease of trading are different.
A large nearby book can still have a wider price gap. The cleanest venue has both money waiting and a small gap between the best buyer and seller.
Binance holds 42.5% of the nearby depth in this comparison. Remove it and the remaining books hold $24.4M.
Where can a larger order move the price?
Nearby depth is the money visible within 0.25% of the current BTC price. It is a trading-quality check, not proof that an exchange can meet every customer claim.
| Venue | Pair | Price gap | Nearby depth | Waiting to buy | Waiting to sell | 30-day trading |
|---|---|---|---|---|---|---|
| Binance | BTC/USDT | 0.001 bp | $18.0M | $9.3M | $8.7M | +40.9% |
| Bitfinex | BTC/USD | 1.127 bp | $11.6M | $5.9M | $5.7M | +110.4% |
| OKX | BTC/USDT | 0.013 bp | $7.7M | $2.3M | $5.4M | +53.8% |
| Bybit | BTC/USDT | 0.013 bp | $3.7M | $1.9M | $1.8M | +20.4% |
| Gate | BTC/USDT | 0.013 bp | $1.0M | $447.6K | $592.7K | +51.8% |
| KuCoin | BTC/USDT | 0.013 bp | $376.4K | $262.2K | $114.3K | +44.3% |