Definition. Measures how quickly liquidity builds as you move away from mid-price, comparing depth in a wider band (100 / 500 / 1000 / 2000 bps) against depth in a narrow 25 bps band, for the chosen side.

Interpretation. A higher value means most liquidity sits further out, with relatively little right next to the market. A steep slope (thin near mid, thick further out) warns that small trades are cheap but larger ones quickly walk into worse prices - useful for execution planning and spotting fragile top-of-book liquidity.

Technical. Ratio of resting depth in the selected wider band (100/500/1000/2000 bps) to resting depth within 25 bps of mid-price, for the chosen side. 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.

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