Finicade
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Level 3 · ◆◆ · ~12 min

Depth, the Touch & the Spread

Depth, the Touch & the Spread

"Liquidity is not one number. It has a width, a depth and a memory — and a market can be liquid on one of them while being dangerous on the others."

the touch and quoted spreaddepth at the touch vs cumulative depthtightness, depth, resiliencequoted vs effective spreadthe book shape
🚀 You're jumping ahead. This builds on Limit Orders & Market Orders — but play it now and you'll still earn full XP. If it feels steep, those make a gentler on-ramp.

A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.