How to Read the Order Book — Crypto Exchange Guide

The Order Book

The heart of any exchange — learn to read it

What is an Order Book?

Every exchange has an order book — a live list of all buy and sell orders placed by traders. It shows exactly who wants to buy or sell, at what price, and how much. Think of it as the public ledger of market intentions.

Asks — Sell Orders (Red)

The ask side (red) shows orders from traders who want to sell. They are sorted from lowest price (top) to highest. The lowest ask is the best price you can buy at right now — it's called the best ask.

Bids — Buy Orders (Green)

The bid side (green) shows orders from traders who want to buy. They are sorted from highest price (top) to lowest. The highest bid is the best price you can sell at right now — it's called the best bid.

The Spread

The spread is the gap between the best ask and best bid. On liquid markets (BTC, ETH) it's tiny — often just $1–5. A wider spread means less liquidity and higher transaction costs. Always check the spread before trading.

Market Depth (Volume Bars)

The colored bars behind each price level show the volume at that price. Longer bar = more orders waiting there. Large clusters of orders act as support (bid side) or resistance (ask side) and can slow down or stop price movement.

If you place a market BUY order, which price will you get?

The best bid price
The best ask price
The spread price
The last traded price

What is an Order Book?

Every exchange has an order book — a live list of all buy and sell orders placed by traders. It shows exactly who wants to buy or sell, at what price, and how much. Think of it as the public ledger of market intentions.

BTC / USDT

Order Book

Price (USDT)Amount (BTC)Total

95,4600.41413.911

95,4502.67713.497

95,4402.21310.820

95,4302.8288.607

95,4201.9665.779

95,4100.2643.813

95,4001.8903.549

95,3901.6591.659

95,380▲

Spread $10(0.010%)

95,3800.5060.506

95,3701.2331.739

95,3601.5813.320

95,3501.8535.173

95,3400.1805.353

95,3301.2076.560

95,3202.8529.412

95,3102.61812.030

Live simulation · BTC/USDT