Orderbook Pressure

Orderbook pressure measures the imbalance between resting bid and ask size — typically the ratio of total bids to total asks within a band around the mid price — quantifying short-term supply/demand skew.

Orderbook pressure is a classic high-frequency, low-persistence signal: its predictive power decays fast with horizon, showing statistical significance from seconds to minutes and essentially vanishing beyond an hour. Always fix the depth band (say ±0.5%), since different bands can yield opposite conclusions. As with large-order statistics, the cancellability of resting orders caps reliability — a sudden shift in the ratio is often just market makers repricing rather than a real change in supply and demand.

Volume and market-structure metrics describe the size and distribution of trading activity. Methodologies differ sharply between venues (wash-trading filters, USD conversion), so confirm the accounting basis before comparing platforms side by side.

The live chart for this metric is still being wired up. Global volume, venue share and perp-vs-spot pages already carry real data.