The orderbook is the live queue of bids and asks behind every price you see, and its shape tells you things a candlestick never will: where liquidity is thin, where a market maker is quietly defending a level, and how much size would move the price before your order even fills. These guides cover how to read depth and spread, and how market makers keep a book liquid and what they earn for doing it. Ignore the book on a thin market and a large or fast order turns straight into slippage, the gap between the price you expected and the one you actually got.
GuideLearn to read crypto orderbooks like a pro. Understand bids, asks, spread, market depth, liquidity walls, and how to use orderbook data for smarter trade decisions.
GuideA market maker continuously quotes buy and sell prices to provide liquidity on an exchange. Learn how market making works, how makers profit from the bid-ask spread, and how makers differ from takers.
GuideSlippage is the gap between the price you expect and the price you actually get when an order fills. Learn what causes it, how slippage tolerance works, and practical ways to reduce price impact on your trades.
GuideA comprehensive guide to every order type on Hyperliquid. Learn when to use market, limit, stop-loss, TWAP, and scale orders for better trade execution.
GuideMaster the data behind the charts. Learn how to interpret Open Interest, Trading Volume, and Oracle Prices to make informed trading decisions.
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