Binance Ether Perpetual Book Shows $11.73 Million Bid Surplus

Binance’s Ether (ETH) perpetual futures order book showed $61.35 million in nearby bids and $49.62 million in asks in an Oct. 20 snapshot, leaving bids ahead by $11.73 million, or 10.57% of combined depth.

A displayed bid at the $2,406.87 price level covered about 2,484.3 ETH, worth roughly $5.98 million. The level sat $1.13, or about 0.05%, below the $2,408 midpoint. Its notional value amounted to about 51% of the difference between nearby bids and asks.

Bid and ask depth refers to the dollar value of buy and sell orders shown near the market price. The snapshot captures displayed orders at one point in time, not completed trades, and does not show whether the bid later filled.

A previous Binance Ether perpetual-book snapshot showed bids exceeding asks by $55.9 million, illustrating that the balance differed in that earlier reading.