Definition. Compares resting buy orders (bid-side depth = buy limit orders waiting at/below the market) with resting sell orders (ask-side depth = sell limit orders waiting at/above the market), within a price band you choose around mid.

Interpretation. Values range from -1 to +1. Positive values mean more resting buy limit orders on the bid side. Negative values mean more resting sell limit orders on the ask side.

Technical. (bid depth - ask depth) / (bid depth + ask depth) over the selected bps depth band around mid-price, time-weighted across the bucket. Range [-1, 1]. 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.

Notes. Set the depth band (in bps) to control how close to mid the imbalance is measured.

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