Definition. The difference between resting buy liquidity (bid-side depth) and resting sell liquidity (ask-side depth) within a chosen price band around mid, measured in quote currency (e.g. USD/USDT).

Interpretation. Positive values mean more resting buy liquidity on the bid side. Negative values mean more resting sell liquidity on the ask side.

Technical. Time-weighted (biddepth - askdepth) in quote currency over the selected depth band around mid-price, across the resolution bucket. Binance publishes only the levels nearest the mid and then changes to the book, so beyond roughly 500bps the figure reflects orders observed since tracking began and should be read as a minimum rather than a total.

Note: Second intervals and tick-level data can be made available as a bespoke request. Please reach out via Contact Us to learn more.