para:BTCDcrypto index · growth mode off · 20× max
Over 114 days of 20-level order-book snapshots, para:BTCD quoted a median spread of 7.12 bps in US regular hours with $326k resting within 25 bps of mid. A $25k market order paid about 5.70 bps in regular hours and 6.09 bps on weekends, when depth within 25 bps fell to $317k. Taker fee is 9.00 bps; funding averaged +10.59% annualised over the last 30 days.
order book replay48 snapshots · 2026-10-08 12:56 → 16:50 UTC · BTCD.json
depth = USD resting within ±25 bps of mid · slip = $25k market order through the book, avg fill vs mid, buy/sell mean · med = this market's median in the snapshot's session
order book replay: no recent order book snapshots
by sessionNew York time · medians over 114 days
| session | snaps | spread | p90 | top | depth ±10 | depth ±25 | depth ±50 | $5k | $25k | $100k | $100k fills | $250k fills |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US regular 9:30–16:00 | 5,189 | 7.12 | 11.77 | $326k | 5.70 | 10.83 | 99% | 89% | ||||
| US extended 4–9:30, 16–20 | 7,617 | 7.27 | 13.37 | $323k | 5.61 | 10.81 | 98% | 88% | ||||
| Overnight 20–4 | 5,329 | 7.41 | 13.81 | $317k | 5.78 | 10.94 | 99% | 82% | ||||
| Weekend / holiday | 9,613 | 7.77 | 19.62 | $317k | 6.09 | 11.01 | 96% | 76% |
bps unless stated RTH 9:30–16:00 extended 4:00–9:30 and 16:00–20:00 overnight 20:00–4:00 on weekdays weekend runs Friday 20:00 to Monday 4:00 and includes NYSE holidays slip = mean of the buy and sell side of a market order walking the visible 20 levels fills = share of snapshots the size fits inside those levels "—" = not fillable in the median snapshot
slippage curve
hour of week
weekly · spread
weekly · depth ±25 bps
per round trip = 2 × median slippage + 2 × taker fee funding uses the 30-day mean hourly rate, annualised, charged for a position held all day slippage between tested sizes is interpolated on a log scale ignores maker rebates, impact that persists after your fill, and fee tiers
27,748 snapshots · 2026-06-16 18:26 → 2026-10-08 16:21 UTC (113.9 days) · size decimals 1 · raw: /api/para/BTCD.json · method and caveats: methodology