Methodology

How Market Scan decides

Market Scan reads public order books, 24-hour tickers and candles from Gate, MEXC, Bitget and KuCoin. It never uses private keys and never places orders.

Measurements

• Spread — best ask minus best bid, in basis points of the mid price (100 bps = 1%).
• Depth — the value of resting orders within 0.5%, 1% and 2% of mid on each side, in the quote currency. When an exchange returns a limited number of price levels and they end inside a band, the value is shown as a lower bound (≥).
• Book balance — bid depth versus ask depth; the ratio is always shown.
• Order cost — a market order walked through the visible book; sizes are scaled to each market (about 0.5% of 24h volume for the medium size), because a fixed $10,000 means nothing for a $50,000-a-day market. Hidden orders, or providers that refill the book while an order executes, can make real fills better than this estimate.

Comparisons, not a score

There is no liquidity score. Each finding compares a measurement with one of: the market's own history (rolling median and percentiles, once at least two hours are observed), the same pair on other exchanges, or markets of similar 24-hour volume on the same exchange. Missing data is reported as missing, never as a bad market.

Confirmation

The order book is sampled three times a few seconds apart; a structural finding must appear in at least two samples. A finding based on history can only be rated high once it has held for three consecutive observations.

Condition

• Critical — at least one critical finding (for example, no sell orders within 2% of the price).
• Degraded — a high-severity finding, or medium findings from two independent families (spread, depth, structure, price).
• Watch — a medium finding, or minor findings in three families.
• Healthy — none of the above.
• Insufficient data — no usable order book.

Diagnosis

Explanations are generated from the findings by fixed rules. They separate what was observed, what might explain it, and what public data cannot show — in particular, who placed any order. LYQUI does not recommend trading intended to create volume or move price.