Markets
Slippage: why you get a different price
Slippage is the gap between the price you expected and the price you got. Here is why slippage happens as…
Marcus Reed
Marcus Reed explains how crypto markets function mechanically — order books, liquidity, spreads and exchange mechanics. He describes how markets work, never what to trade.
Markets
What the bid-ask spread tells you
The bid-ask spread is the gap between the best buy and sell prices. Here is what the bid-ask spread tells…
Markets
Market orders vs limit orders, mechanically
Market orders and limit orders are the two core instructions in any market. Here is the mechanical difference: one guarantees…
Markets
How an order book actually works
An order book is the live list of buy and sell orders behind a market. Here is how an order…
Markets
Wash trading: how it’s detected in volume data
Wash trading fakes volume without real change of ownership. How analysts detect it in volume data using depth, price impact,…
Markets
How exchanges handle outages and halts
Outages are involuntary failures; halts are deliberate pauses. How crypto exchanges handle them, what happens to your orders, and the…
Markets
What on-chain flow data shows and what it doesn’t
On-chain flow data reliably shows that transfers happened, but not who owns an address or why coins moved. What it…
Markets
How liquidations cascade
A liquidation cascade is a chain reaction where forced closures push price further, triggering more closures. How the mechanism works…
Markets
What funding rates are and why they exist
Funding rates are recurring payments between traders that keep a perpetual future tethered to spot. What they are, why they…
Markets
How perpetual futures work
Perpetual futures are futures with no expiry, kept near spot by funding payments, valued on a mark price, and backed…