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Crypto Bid/Ask Ratio

The bid/ask ratio is the share of resting orders within ±1% of mid that are bids: bid USD / (bid USD + ask USD), pooled across Binance and Bybit perpetual futures. Above 50% means more buy orders are waiting below the price than sell orders above it. The table ranks the 30 perps with the most resting depth by their latest 5-minute snapshot and compares it with the last 24 hours and 7 days.

Most bid-heavy within ±1% of mid right now: PUMPFUN (58.9% of resting orders are bids, imbalance +18%); most ask-heavy: SOXL (38.9% bids, -22%). 23 of these 30 coins have more resting bids than asks within ±1% of mid. For 5 of them (the deepest books, such as BTC and ETH) the exchanges' order-book snapshots end inside ±1% of mid, so their figures cover the visible book only.

30 coins±1% of mid5-minute snapshotsSource: Binance and Bybit public APIsAs of 14:05 UTC

Top 30 perps by ±1% depth, most bid-heavy first

Binance + Bybit pooled · latest 5-minute snapshot
Coin Bid share now Imbalance Depth ±1% 24h average 7d average Z-score
1PUMPFUN 58.9% +18% $1.85M 56.6% — —
2AAVE 58.9% +18% $4.96M 55.3% — —
3LTC 58.4% +17% $7.27M 60.3% — —
4PUMP 57.1% +14% $2.61M 53.2% — —
5XAU vis. 54.8% +10% ≥ $10.21M 51.2% — —
6ONDO 53.9% +8% $5.90M 54.0% — —
7WLD 53.8% +8% $5.33M 52.3% — —
8ADA 53.7% +7% $10.53M 52.1% — —
9BNB 53.5% +7% $17.68M 48.5% — —
10HYPE 53.3% +7% $23.32M 51.9% — —
11UNI 52.1% +4% $4.08M 52.8% — —
12BCH 51.3% +3% $5.77M 53.2% — —
13NEAR 51.1% +2% $7.43M 52.1% — —
14PEPE 51.1% +2% $9.74M 50.9% — —
15DOGE 50.9% +2% $30.03M 51.4% — —
16LINK 50.7% +1% $8.82M 53.3% — —
17BTC vis. 50.3% +1% ≥ $129.40M 48.3% — —
18XRP 50.2% +0% $51.11M 50.3% — —
19SUI 50.2% +0% $9.77M 51.5% — —
20XAUT 50.1% +0% $7.20M 59.5% — —
21SOL 50.1% +0% $77.69M 49.9% — —
22ETH vis. 50.1% +0% ≥ $200.89M 49.2% — —
23AVAX 50.0% +0% $7.06M 51.8% — —
24TRX 49.9% -0% $6.13M 51.0% — —
25XLM 49.6% -1% $6.39M 54.1% — —
26ENA 49.3% -1% $6.94M 52.2% — —
27TAO 49.0% -2% $9.54M 50.7% — —
28PAXG vis. 47.2% -6% ≥ $11.76M 46.6% — —
29ZEC vis. 47.0% -6% ≥ $22.52M 49.7% — —
30SOXL 38.9% -22% $1.65M 47.7% — —

BTC bid/ask ratio

Bid share of resting orders, Binance + Bybit

Chart: TradingView Lightweight Charts™

ETH bid/ask ratio

Bid share of resting orders, Binance + Bybit

Chart: TradingView Lightweight Charts™

How to read it. Bid share is bid USD / (bid USD + ask USD) resting within ±1% of the mid price, with Binance's and Bybit's books added together; 50% is balanced. Imbalance is the same on a −100% to +100% scale. The z-score compares the latest 5-minute snapshot with its own 7-day average: a coin that is always bid-heavy only stands out when it is more so than usual.

Limits. Resting orders are intent, not trades: they can be pulled at any moment, and big walls are sometimes placed to be seen rather than filled (spoofing). Each coin is sampled once every 5 minutes, so anything shorter is missed. The exchanges' public APIs return 1,000 (Binance) or 500 (Bybit) levels per side, which end about ±0.15% from mid on BTC and ±0.4% on ETH; coins marked vis. have books that end inside ±1%, so their figures cover the visible book only and their depth is a lower bound. For live books with $1M order costs see order book depth. Not financial advice.

Bid/ask ratio FAQ

What is the bid/ask ratio?

The USD value of resting bids within ±1% of the mid price divided by the bids plus the asks in the same band. 50% is balanced; 60% means six of every ten dollars resting near the price are buy orders. Imbalance is the same thing on a -100% to +100% scale: (bids - asks) / (bids + asks).

Is a high bid/ask ratio bullish?

Not on its own. Resting orders are intent, not trades: they can be cancelled at any moment, and large walls are sometimes placed to be seen and pulled before they fill (spoofing). A ratio far from a coin's own average (a large z-score) is worth a look next to open interest, funding and CVD, not a signal by itself. Nothing here is financial advice.

How often is it measured, and how far back does it go?

One REST order-book snapshot per coin and exchange every 5 minutes (heat-map coins every minute, one kept per 5 minutes), for each of Binance's and Bybit's 30 perps with the most open interest. Anything that appears and disappears between two snapshots is missed. Five-minute points are kept for 30 days and hourly averages for good, from when this site started recording them.

Why are BTC and ETH marked as the visible book only?

The exchanges' public order-book APIs return at most 1,000 (Binance) or 500 (Bybit) price levels per side. On the deepest books those levels end about 0.15% (BTC) or 0.4% (ETH) from mid, so the ±1% band holds everything that is visible: the dollar figures are lower bounds and the ratio compares the visible bids with the visible asks, which can reach slightly different depths.

How are the averages and z-score calculated?

Each 5-minute snapshot gives a ratio, pooling Binance and Bybit. The 24-hour and 7-day averages are the means of those ratios; the z-score is how many standard deviations the latest one sits from the 7-day average. Both need at least 12 hours of snapshots.