Perhaps some didn't know about the order book (buy/sell stack) on Binance, it displays data only from this platform, namely👇
The order book (Order Book) that you see on a specific exchange (for example, on Binance) shows the orders only from this particular platform.
This is an important nuance for understanding market mechanics. Here are a few key points that will help clarify how this works:
1. Locality of liquidity
Each exchange is a separate "sandbox". If you open the order book for the BTC/USDT pair on Binance, you only see the intentions to buy or sell placed by users of this exchange. Orders from users on Bybit, OKX, or Coinbase are not displayed there.
2. Why are prices on exchanges almost the same?
If the order books are different everywhere, it's logical to ask: why is the price roughly the same everywhere? This happens thanks to arbitrageurs and trading bots.
• If the price of an asset on Binance becomes 100, and on Bybit — 102, bots will instantly buy where it's cheaper and sell where it's more expensive.
• This process aligns prices between platforms in fractions of a second.
The order book (Order Book) that you see on a specific exchange (for example, on Binance) shows the orders only from this particular platform.
This is an important nuance for understanding market mechanics. Here are a few key points that will help clarify how this works:
1. Locality of liquidity
Each exchange is a separate "sandbox". If you open the order book for the BTC/USDT pair on Binance, you only see the intentions to buy or sell placed by users of this exchange. Orders from users on Bybit, OKX, or Coinbase are not displayed there.
2. Why are prices on exchanges almost the same?
If the order books are different everywhere, it's logical to ask: why is the price roughly the same everywhere? This happens thanks to arbitrageurs and trading bots.
• If the price of an asset on Binance becomes 100, and on Bybit — 102, bots will instantly buy where it's cheaper and sell where it's more expensive.
• This process aligns prices between platforms in fractions of a second.