{"path":"/derivatives/perpetual_orderbook_price_impact","tier":3,"parameters":{"a":["ETH"],"c":["native"],"e":["binance"],"f":["csv","json"],"i":["10m","1h","24h"],"quote_symbol":["USDT"],"side":["buy","sell"],"size":["100k","10k","10m","1m"]},"parameters_defaults":{"side":["buy"],"size":["100k"]},"queried":{"a":"ETH","path":"/v1/metrics/derivatives/perpetual_orderbook_price_impact"},"refs":{"docs":"https://docs.glassnode.com/basic-api/endpoints/derivatives#get-v1-metrics-derivatives-perpetual_orderbook_price_impact","studio":"https://studio.glassnode.com/charts/derivatives.PerpetualOrderbookPriceImpact","metric_variant":{"bulk":"/derivatives/perpetual_orderbook_price_impact/bulk","pit":"/derivatives/perpetual_orderbook_price_impact_pit"}},"bulk_supported":true,"timerange":{"min":1577836800,"max":1792405800},"modified":1792406623,"descriptors":{"name":"Perpetual Orderbook Price Impact","short_name":"Perpetual Orderbook Price Impact","group":"Perpetual Orderbook","tags":["futures","orderbook"],"description":{"default":"**Definition.** Estimates what it would actually cost to fill a market order of a given size right now. Trading more than the best price offers forces the order to \"walk the book\" into worse prices; this measures that cost as the gap between mid-price and your average fill price, in basis points (1 bp = 0.01%).\n\n**Interpretation.** Larger orders and thinner books mean higher impact. Use it to estimate cost before trading, compare venues for a given order size, or benchmark realized fills against expectation.\n\n**Technical.** Estimated execution cost in basis points for a market order of the selected notional, computed by walking the live order book from mid-price and comparing the volume-weighted average fill price to mid.\n\n**Notes.**\n\n- Set the order size in the pair's quote currency (e.g. USD/USDT). If the requested order size exceeds the volume available in the visible order book, the value is null — the order is too large to be filled by the visible book, not missing data.\n- Second intervals and tick-level data can be made available as a bespoke request. Please reach out via [Contact Us](https://glassnode.com/contact/sales) to learn more."},"data_sharing_group":"market"}}