Can I sell? Real exit cost on small-cap order books
Exchanges show 24-hour volume. Volume is cheap to manufacture; a book is not. Here is what a sale actually costs on each venue, measured every minute from the live order book.
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How to read it
Sell $10k — how far below the mid price a market sell of $10,000 would fill, from the visible book. Fees not included.
Book ±2% — dollars resting within 2% of the mid price, both sides, median over the last 24 hours.
Volume ÷ book — reported 24h volume divided by that depth. A healthy market sits in the single or low double digits; hundreds mean the volume did not come from this book.
When the price falls — the book in hours with a 2%+ drop against all other hours. A book that is there only when nobody needs it is decoration.