Ether’s Binance Perpetual Book Shows an $8.52 Million Sell-Side Gap

Ether (ETH) was priced at $2,402.15 in a market snapshot showing an $8.52 million excess of sell orders over buy orders on Binance’s perpetual market. The two spot books in the snapshot showed the opposite balance.

Binance’s perpetual book listed $45.83 million in sell orders against $37.31 million in buy orders, a difference of $8,524,100. Binance’s and Coinbase’s spot books each had greater buy-side depth than sell-side depth, though both were much smaller than Binance’s perpetual book.

The split shows that displayed order balances varied between spot and perpetual markets. An earlier snapshot had the reverse balance: On Oct. 6, bids exceeded offers by $55.9 million in the Binance Ether order-book snapshot.

A sudden large buy or sell order could affect thinner books first, potentially causing more pronounced price moves there.