Order book calculator
See how a market order fills against an order book: the average price you'd get, the total, the slippage from the best price and how many price levels it eats through. For crypto or any order book. Free, no sign-up, nothing leaves your browser.
Levels are sorted for you, best price first. The starting book is an example, not live prices, and fees are left out.
How a market order fills
An order book is the live list of buy and sell orders on an exchange: buyers post bids and sellers post asks. A market order buys or sells straight away at the best price available. If the best level doesn't have enough, the order carries on to the next price level, and the next, until it is filled.
Slippage and liquidity
Because a large market order can use up several price levels, the average price ends up worse than the best price you saw. That's slippage, and it's bigger when there are few orders in the book, which is called low liquidity. A limit order sets the price you want and waits, so it avoids slippage but may not fill.
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