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Venues and the composite order book

Cryexc connects to exchanges directly from your browser. There is no data server in the middle for live feeds: the terminal opens a websocket per instrument straight to the venue, and every panel is fed from those sockets. Nothing to sign up for, and no account credentials involved in reading market data.

Native symbols, never translated

Every instrument is identified by the pair venue:symbol, using the venue's own naming:

  • binancef:BTCUSDT — Binance USD-M perpetual
  • bybit:BTCUSDT — Bybit linear perpetual
  • hyperliquid:BTC — Hyperliquid perpetual
  • coinbase:BTC-USD — Coinbase spot

The terminal never rewrites one venue's convention into another's, never appends a quote currency, and never guesses. A deep link like ?exchange=binancef&symbol=BTCUSDT subscribes exactly that string.

The practical consequence: BTCUSDT on a perp venue and BTC-USD on a spot venue are two different instruments in the aggregate set, and they will show up as two separate columns and two separate CVD lines. That is the point — they are two different markets.

The composite order book

The Orderbook panel draws one column per member of the aggregate set. With a single member it is an ordinary depth view. With three, you are reading where resting liquidity actually sits across the market rather than on one exchange.

Three controls sit in its header:

The Σ chip hides members from this panel only. A hidden venue keeps streaming; it just stops being drawn here. The chip reads Σ k/n while anything is hidden so the view can never quietly misrepresent itself.

The $ button switches every size in the panel between raw coin quantity and USD notional. Notional is usually the right default for a composite: 4 BTC on one venue and 4 BTC on another are comparable, but 4 BTC and 120 ETH are not.

The grouping selector buckets adjacent price levels into one row. A tick-perfect book on a liquid perp is mostly noise; grouping to $10 or $25 makes the actual shelves visible. It affects display only — the underlying book stays at full resolution.

Reading a composite book

A few things become visible only once the venues are side by side.

Where the real wall is. A large level that appears on one venue and nowhere else is usually a single participant and can be pulled instantly. The same level defended across three venues is structure.

Which venue leads. In a fast move, one book thins out first. The composite makes that obvious in a way a single-venue depth view cannot.

Where the spread actually is. Venues drift apart under stress. When the best bid on one exchange is above the best ask on another, you are looking at a dislocation, not a rendering artefact.

Connection status

The right-hand side of the status bar carries a k/n live chip. Click it for a per-instrument breakdown: which legs are connected, which transport is carrying them, and how long since the last message.

A dropped leg shows amber with a Reconnect action. Reconnecting is per-venue — one sick socket never forces the whole set to bounce.

Geo restrictions

Some exchanges block some regions at the network level. Because the connection is made from your browser, a block shows up as a leg that will not open. The terminal surfaces it in the connection chip rather than pretending the venue is quiet.

The fix is to pick a different venue for that asset. The aggregate set makes this cheap: remove the blocked listing, add another, and every aggregated panel refills.