{
  "schemaVersion": "vultax-feature-mirror-v1",
  "slug": "market-analytics",
  "title": "Crypto Market Analytics by Exchange",
  "description": "Read BTC exchange quotes, reported depth and venue service status together, using Vultax’s existing market snapshot.",
  "mirrorSummary": "Read BTC exchange quotes, reported depth and venue service status together, using Vultax’s existing market snapshot.",
  "canonicalUrl": "https://vultax.com/features/market-analytics",
  "availability": {
    "status": "live",
    "message": "The analytics workspace is available. Individual views may show delayed, stale or unavailable data."
  },
  "workspace": {
    "label": "Open the Vultax workspace",
    "url": "https://app.vultax.com/analytics"
  },
  "downloads": {
    "json": "https://vultax.com/features/market-analytics/data.json",
    "markdown": "https://vultax.com/features/market-analytics/page.md",
    "schema": "https://vultax.com/features/schema.json"
  },
  "tables": [
    {
      "id": "btc-books",
      "title": "BTC bid and ask by exchange",
      "description": "The top-of-book quotes already captured by Vultax’s crypto refresh pack.",
      "coverage": "BTC spot; only the responding exchanges shown below. USD and USDT remain separate quote labels.",
      "columns": [
        {
          "key": "venue",
          "label": "Exchange",
          "format": "text",
          "unit": null
        },
        {
          "key": "quote",
          "label": "Quote currency",
          "format": "text",
          "unit": null
        },
        {
          "key": "bid",
          "label": "Best bid",
          "format": "number",
          "unit": "quote currency"
        },
        {
          "key": "ask",
          "label": "Best ask",
          "format": "number",
          "unit": "quote currency"
        },
        {
          "key": "spread",
          "label": "Spread",
          "format": "bps",
          "unit": "basis points"
        }
      ],
      "rows": [
        {
          "id": "coinbase",
          "values": {
            "venue": "Coinbase",
            "quote": "USD",
            "bid": 81154.5,
            "ask": 81154.8,
            "spread": 0.04
          }
        },
        {
          "id": "kraken",
          "values": {
            "venue": "Kraken",
            "quote": "USD",
            "bid": 81157.3,
            "ask": 81157.4,
            "spread": 0.01
          }
        },
        {
          "id": "okx",
          "values": {
            "venue": "OKX",
            "quote": "USDT",
            "bid": 81174.6,
            "ask": 81174.7,
            "spread": 0.01
          }
        },
        {
          "id": "binance",
          "values": {
            "venue": "Binance",
            "quote": "USDT",
            "bid": 81173.36,
            "ask": 81173.37,
            "spread": 0
          }
        },
        {
          "id": "bybit",
          "values": {
            "venue": "Bybit",
            "quote": "USDT",
            "bid": 81170.4,
            "ask": 81170.5,
            "spread": 0.01
          }
        }
      ],
      "notes": [
        "This is a periodic top-of-book snapshot. It contains no order-level history or heatmap levels.",
        "Quotes are collected sequentially. Displayed size and actual execution are not established by this table."
      ],
      "kind": "market-snapshot",
      "status": "fresh",
      "statusReason": "Within this table’s source-time freshness window; prices can change between observations.",
      "observedAt": "2026-09-18T19:20:02.000Z",
      "modifiedAt": null,
      "rowCount": 5,
      "sources": [
        {
          "label": "Vultax crypto pack · public exchange order-book endpoints",
          "url": "https://vultax.com/live/crypto.json"
        }
      ],
      "downloads": {
        "json": "https://vultax.com/features/orderbook-heatmap/data.json?dataset=btc-books",
        "csv": "https://vultax.com/features/orderbook-heatmap/data.csv?dataset=btc-books"
      }
    },
    {
      "id": "btc-depth",
      "title": "Reported BTC market depth",
      "description": "Reported cost to move the market by 2%, alongside the corresponding BTC pair and reported turnover.",
      "coverage": "CoinGecko tickers for the configured exchanges; the pack selects each venue’s highest-volume BTC USD, USDT or USDC pair.",
      "columns": [
        {
          "key": "venue",
          "label": "Exchange",
          "format": "text",
          "unit": null
        },
        {
          "key": "pair",
          "label": "Pair",
          "format": "text",
          "unit": null
        },
        {
          "key": "up",
          "label": "+2% depth",
          "format": "usd",
          "unit": "USD"
        },
        {
          "key": "down",
          "label": "−2% depth",
          "format": "usd",
          "unit": "USD"
        },
        {
          "key": "volume",
          "label": "Reported 24h volume",
          "format": "usd",
          "unit": "USD"
        },
        {
          "key": "sourceState",
          "label": "Pair status",
          "format": "text",
          "unit": null
        }
      ],
      "rows": [
        {
          "id": "binance",
          "values": {
            "venue": "Binance",
            "pair": "BTC/USDT",
            "up": 28456590,
            "down": 18864457,
            "volume": 1790123246,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "gdax",
          "values": {
            "venue": "Coinbase",
            "pair": "BTC/USD",
            "up": 31499939,
            "down": 12571170,
            "volume": 895904555,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "kraken",
          "values": {
            "venue": "Kraken",
            "pair": "XBT/USD",
            "up": 21872234,
            "down": 21364339,
            "volume": 317166174,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "okex",
          "values": {
            "venue": "OKX",
            "pair": "BTC/USDT",
            "up": 13909703,
            "down": 9265508,
            "volume": 664461958,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "gate",
          "values": {
            "venue": "Gate",
            "pair": "BTC/USDT",
            "up": 23503756,
            "down": 24054594,
            "volume": 696862921,
            "sourceState": "No flag reported"
          }
        }
      ],
      "notes": [
        "Depth and turnover are reported by the upstream source, not independently verified executable liquidity.",
        "The upstream pack rounds amounts and may convert missing depth or volume to zero; a reported zero is not proof of no liquidity."
      ],
      "kind": "market-snapshot",
      "status": "fresh",
      "statusReason": "Within this table’s source-time freshness window; prices can change between observations.",
      "observedAt": "2026-09-18T19:00:04.000Z",
      "modifiedAt": null,
      "rowCount": 5,
      "sources": [
        {
          "label": "Vultax crypto pack · CoinGecko exchange tickers",
          "url": "https://vultax.com/live/crypto.json"
        }
      ],
      "downloads": {
        "json": "https://vultax.com/features/orderbook-heatmap/data.json?dataset=btc-depth",
        "csv": "https://vultax.com/features/orderbook-heatmap/data.csv?dataset=btc-depth"
      }
    },
    {
      "id": "venue-status",
      "title": "Exchange service status",
      "description": "The service-status responses already collected by Vultax.",
      "coverage": "Configured exchange status endpoints; operational status does not establish feed completeness or execution access.",
      "columns": [
        {
          "key": "venue",
          "label": "Exchange",
          "format": "text",
          "unit": null
        },
        {
          "key": "indicator",
          "label": "Indicator",
          "format": "text",
          "unit": null
        },
        {
          "key": "message",
          "label": "Source message",
          "format": "text",
          "unit": null
        }
      ],
      "rows": [
        {
          "id": "coinbase",
          "values": {
            "venue": "Coinbase",
            "indicator": "none",
            "message": "All Systems Operational"
          }
        },
        {
          "id": "kraken",
          "values": {
            "venue": "Kraken",
            "indicator": "minor",
            "message": "Partially Degraded Service"
          }
        },
        {
          "id": "binance",
          "values": {
            "venue": "Binance",
            "indicator": "none",
            "message": "normal"
          }
        },
        {
          "id": "okx",
          "values": {
            "venue": "OKX",
            "indicator": "none",
            "message": "All systems operational"
          }
        },
        {
          "id": "kalshi",
          "values": {
            "venue": "Kalshi",
            "indicator": "none",
            "message": "exchange active"
          }
        }
      ],
      "notes": [
        "The upstream status messages retain the provider’s meaning; different providers use different status vocabularies."
      ],
      "kind": "market-snapshot",
      "status": "fresh",
      "statusReason": "Within this table’s source-time freshness window; prices can change between observations.",
      "observedAt": "2026-09-18T19:20:02.000Z",
      "modifiedAt": null,
      "rowCount": 5,
      "sources": [
        {
          "label": "Vultax crypto pack · exchange status endpoints",
          "url": "https://vultax.com/live/crypto.json"
        }
      ],
      "downloads": {
        "json": "https://vultax.com/features/market-analytics/data.json?dataset=venue-status",
        "csv": "https://vultax.com/features/market-analytics/data.csv?dataset=venue-status"
      }
    }
  ],
  "research": [
    {
      "title": "Crypto Wash Trading and Real Liquidity: Fake-Volume Estimates Run From 51% to 95%",
      "url": "https://vultax.com/research/crypto-wash-trading-what-the-research-shows",
      "publishedAt": "2026-09-02",
      "description": "Published estimates put fake or non-economic bitcoin volume at 51% to 95%, and above 70% on unregulated venues. Why the studies disagree, why depth and slippage judge a venue better than volume (Binance: 64.3% of volume, 30.7% of depth, per Kaiko), and what to check yourself."
    },
    {
      "title": "Crypto Exchange Feed Latency and Coverage: 16 Venues Measured",
      "url": "https://vultax.com/research/crypto-exchange-feed-latency-september-2026",
      "publishedAt": "2026-09-02",
      "description": "Order-book feed latency on 16 crypto exchanges: medians from 35.0 ms (Coinbase) to 111.5 ms (BTSE), a 95th percentile of 288–590 ms on every venue, and data in every minute of the day. Plus the coverage check that catches a feed that stays connected and stores almost nothing."
    }
  ],
  "related": [
    {
      "slug": "prediction-desk",
      "title": "Polymarket vs Kalshi: Prediction Market Prices",
      "url": "https://vultax.com/features/prediction-desk"
    },
    {
      "slug": "wallet-intelligence",
      "title": "Polymarket Trader Rankings and Wallet Research",
      "url": "https://vultax.com/features/wallet-intelligence"
    },
    {
      "slug": "event-trackers",
      "title": "Fed Decision Tracker: Market Prices and Sources",
      "url": "https://vultax.com/features/event-trackers"
    }
  ],
  "limitations": [
    "Public tables mirror existing Vultax source packs. They do not include account data, private watchlists or the complete app dataset.",
    "Source time, coverage and limitations apply to each table. Missing values are unavailable, not zero."
  ]
}