{
  "schemaVersion": "vultax-feature-mirror-v1",
  "slug": "orderbook-heatmap",
  "title": "Bitcoin Order Books and Exchange Depth",
  "description": "Compare BTC bid and ask quotes across exchanges, with reported market depth from the same public data Vultax already collects.",
  "mirrorSummary": "Compare BTC bid and ask quotes across exchanges, with reported market depth from the same public data Vultax already collects.",
  "canonicalUrl": "https://vultax.com/features/orderbook-heatmap",
  "availability": {
    "status": "live",
    "message": "The crypto workspace is available. Pair, venue and data coverage vary."
  },
  "workspace": {
    "label": "Open the Vultax workspace",
    "url": "https://app.vultax.com/predictions/crypto/BTCUSDT"
  },
  "downloads": {
    "json": "https://vultax.com/features/orderbook-heatmap/data.json",
    "markdown": "https://vultax.com/features/orderbook-heatmap/page.md",
    "schema": "https://vultax.com/features/schema.json"
  },
  "tables": [
    {
      "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": 27220492,
            "down": 16822832,
            "volume": 1870459483,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "gdax",
          "values": {
            "venue": "Coinbase",
            "pair": "BTC/USD",
            "up": 30447519,
            "down": 13028372,
            "volume": 983133273,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "kraken",
          "values": {
            "venue": "Kraken",
            "pair": "XBT/USD",
            "up": 26385879,
            "down": 22331251,
            "volume": 350706663,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "okex",
          "values": {
            "venue": "OKX",
            "pair": "BTC/USDT",
            "up": 17969493,
            "down": 8343378,
            "volume": 706397061,
            "sourceState": "No flag reported"
          }
        },
        {
          "id": "gate",
          "values": {
            "venue": "Gate",
            "pair": "BTC/USDT",
            "up": 23868756,
            "down": 26497094,
            "volume": 740129124,
            "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": "2026-09-18T21:00:04.000Z",
      "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"
      }
    }
  ],
  "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": "whale-tracker",
      "title": "Large Trades: Polymarket and Bitcoin",
      "url": "https://vultax.com/features/whale-tracker"
    },
    {
      "slug": "arbitrage-scanner",
      "title": "Bitcoin Exchange Spreads and Arbitrage Costs",
      "url": "https://vultax.com/features/arbitrage-scanner"
    },
    {
      "slug": "vi-iq-score",
      "title": "Vi IQ Bitcoin Market Intelligence Score",
      "url": "https://vultax.com/features/vi-iq-score"
    }
  ],
  "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."
  ]
}