Volume, Liquidity & Execution
Understand volume, depth, spread, slippage, price impact, routing and why execution quality can dominate a good-looking setup.
Free course · Intermediate · 22 min
Volume, Liquidity & Execution
Understand volume, depth, spread, slippage, price impact, routing and why execution quality can dominate a good-looking setup.
Lesson 1 of 2 · 11 min
OBJECTIVE
Volume, depth and spread
Volume is traded activity; depth is available liquidity near price; spread is the gap between best available buy and sell quotes on an order book.
LEARNING VISUAL
Learning diagram: Volume, depth and spread
Concrete example
A token can print large volume while a $5,000 order still moves price several percent.
Practical checklist
- Compare volume with depth
- Check spread/impact
- Inspect multiple venues/pools
Mini quiz
Which metric is closest to executable capacity?
Answer the mini quiz correctly to validate this lesson and continue.
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