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UNDERSTANDING THE DATA
Learn how to read source dates, financial units, charts and calculations. Follow the guide that matches the measure you are examining.
Start with what is being measured, then check its period, currency and source. A missing observation, a reported zero and an expired capture have different meanings.
Separate resting orders from executed trades, a specific USDT venue from an aggregate quote, and a continuous feed from an incomplete connection.
Start with the venue and exact pair: BTCUSDT, ETHUSDT or SOLUSDT on Binance Spot. The base asset and quote USDT have different units. This view is neither an all-exchange price average nor a perpetual contract. A USDT price is not relabelled USD, and changing the pair creates a new result.
The order book and trade tape show actual messages received for the selected market. An outage remains visible; invented orders or trades never replace it.
A bid is a resting buy offer and an ask a resting sell offer. Price is USDT per unit of the base asset, while quantity counts those base units. The best bid and ask give the spread as ask minus bid. This difference alone does not establish fees, the obtainable price of a larger trade or another exchange price.
The chosen number of levels bounds the current result. The depth chart accumulates quantity outward from the best price using the same offers as the table. An uncovered part of the market is not zero liquidity. Even the bounded initial snapshot does not establish every distant unchanged level of the book. Resting offers can disappear before execution.
The tape contains a bounded set of recent trades received during this source session. Each carries its original identifier, price, quantity and execution time. It can be short or empty immediately after connection; the application does not invent missing history. It is not a complete archive of the trading day.
The buyer_is_maker flag states whether the buyer was the resting maker. If so, the aggressive side was selling; otherwise it was buying. That side does not reveal the participant’s identity, other positions, motivation or the future direction of price. A trade and a subsequent book update carry their own clocks, rather than an atomic global tick.
A continuous state requires an initial snapshot and consecutive numbered updates. Old duplicates are not applied twice. A sequence gap or disconnected stream requires the book to be rebuilt; old values must not be labelled as a currently valid book. Connection state is therefore part of the result.
Pause freezes the displayed result. It does not stop the exchange source or future market changes. Resume explicitly returns to the current state. An inactive or hidden page does not keep issuing display reads, and its old display is not represented as live.
The JSON belongs to the same bounded query and manifest as the chart, table and tape. It includes original financial strings, selected pair, level count, sequence and separate input clocks and origins. Exporting while paused preserves the frozen result, rather than an unseen newer batch.