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Terms used on token liquidity reports. See methodology for how metrics are computed.

GLOSSARY
Spread
The gap between the best bid and best ask, expressed as a percentage of mid price. A tighter spread means lower immediate trading cost.
Depth ±2%
Total quote liquidity (USDT) resting within 2% of mid on both sides of the book. More depth usually means less price impact on medium-sized orders.
Slippage
Extra cost vs mid price when executing a market buy against the visible ask book. Reports simulate several trade sizes and highlight the largest fillable size among $10k, $1k, and $100.
Liquidity score and grade
A 0–100 score: half from order-book shape (level count, depth at ±2% and ±10% vs 24h volume, spread) and half from spread, depth, and slippage vs the median of up to 3 same-volume-tier peers. Mapped to letter grades A–F and a status of Good, Fair, or Poor.
Volume consistency
Compares 24h reported volume to visible tight depth. A very high ratio can signal hollow volume: activity that does not match resting liquidity.
Peer median
The median spread, depth, and slippage of up to three peer tokens on the same exchange with similar 24h volume. Used as the benchmark in improvement potential.
Investor simulator
Shows the dollar and percentage cost of market buys at the largest available trade sizes: what a larger buyer would pay above fair price on the current book.
Lost opportunity
Estimated execution cost at the primary display trade size (same adaptive size as slippage in the summary), plus the range of slippage across fillable sizes.
COMMON PITFALLS
  • Hollow volume: Healthy 24h volume but only a few hundred dollars of visible depth. The vol/depth ratio flags this on the health dashboard.
  • Thin asks, tight spread: Best bid/ask spread can look fine while a $1k+ market buy still pays double-digit slippage because ask liquidity is stacked far from mid.
  • One-sided flow: Extreme buy or sell skew in 24h volume (e.g. 99% buys) often pairs with an imbalanced book and worse effective prices for entrants.
  • Unfillable size: A $10k buy may not fill from visible asks; the simulator shows “Cannot simulate” and slippage at that size is omitted from headline metrics.