Binance Ether Perpetual Market Shows $55.9 Million Bid Surplus
On October 6, Ether (ETH) was trading near $2,694.94, according to a snapshot of Binance’s order book. The exchange’s perpetual market showed a significant imbalance, with bids surpassing offers by $55.9 million. Specifically, the perpetual book listed approximately $122 million in bids against roughly $66.5 million in offers.
Binance’s spot market also displayed a bid surplus, though much smaller, with about $8.7 million in bids and $7.2 million in offers, resulting in a $1.5 million surplus favoring bids. This contrasted with other major markets, where offers dominated.
For instance, Coinbase’s spot market had about $22.5 million in offers and $13.4 million in bids, creating an offer surplus of roughly $9.2 million. Similarly, OKX perpetuals and Hyperliquid perpetuals showed offer surpluses of $895,400 and $463,000, respectively.
The data reflects varying liquidity conditions across different exchanges and market structures, with Binance’s perpetual market standing out due to its substantial bid surplus.