How to Read the Order Book and Trade History
Understand market depth, bid/ask spreads, and recent trade activity to make informed trading decisions.
Locate the Order Book
On the trading screen, the order book is displayed as a two-sided list. The upper half (red) shows sell orders (asks) listed from lowest to highest price. The lower half (green) shows buy orders (bids) listed from highest to lowest price. The center shows the current market price.
Read Bid and Ask Prices
Each row in the order book shows a price level and the quantity of the asset available at that price. Bids represent prices buyers are willing to pay. Asks represent prices sellers are willing to accept. The difference between the best bid and best ask is called the spread.
Assess Market Depth
The cumulative bars behind the order book rows represent market depth, the total volume of orders at or better than each price level. Thicker green bars suggest strong buying support, while thicker red bars suggest strong selling pressure. This visualization helps you gauge how much liquidity exists at each level.
View Recent Trades
The trade history panel shows recently executed trades for the selected pair. Each entry displays the price, quantity, and timestamp. Green entries indicate the trade was executed at the ask price (buyer-initiated), while red entries indicate execution at the bid price (seller-initiated).
Use This Information for Trading
A tight spread and high depth indicate a liquid market where orders fill easily with minimal slippage. A wide spread or thin order book may result in higher slippage for market orders. Use the order book and trade history together to time your entries and set appropriate limit prices.