MEXC Liquidity

The gap between the best bid, the highest price a buyer is offering, and the best ask, the lowest price a seller will accept. With a best bid of $99.99 and a best ask of $100.01, the mid-price is $100.00 and the spread is two cents, or two basis points. A market buy starts filling at the ask, not the mid, so the spread is the first cost of any market order — before it has walked a single level.

Slippage is the difference between your average fill price and a reference price — usually the mid-price at the moment you trade — expressed in basis points. It comes from crossing the spread and from consuming more than one price level once the size at the best price runs out; in fast markets the book can also change before the order arrives. When slippage is measured from the mid-price, half the spread is already inside it, so adding the spread again counts the same cost twice.

It is the comparison metric behind MEXC's liquidity examples: simulate a buy and a sell of the same size against the order book, then average the two — (buy slippage + sell slippage) ÷ 2 — so a comparison cannot pick the favourable side. For example, MEXC's internal order-book simulation on 28 October 2026 put a 500,000 USDT ETH perpetual order at about 0.05 bp of two-sided slippage, roughly $2.61. It is a snapshot-based simulation, not the guaranteed cost of opening and closing a real position.

No. Zero fees remove the visible cost; the spread and slippage still sit inside the fill price. Fees themselves depend on how an order executes: a maker order adds liquidity, typically a resting limit order, while a taker order removes it, such as a market order or a limit order that fills immediately, and the two can carry different rates. MEXC offers zero-fee trading on selected pairs and products; which pairs qualify, for which order type and for how long is set out on MEXC's fee page and in each pair's announcement. On those pairs, slippage is the main cost left to manage.

Cost = order value × basis points ÷ 10,000. One basis point is 0.01%, so on a 100,000 USDT order, 1 bp is $10, whether it comes from fees or from slippage. Two markets one basis point apart therefore cost $10 more or less per side on that order, and $20 over a round trip of opening and closing. The same arithmetic applies to fees: a zero-fee pair against one charging a taker fee widens the gap by $10 per basis point of fee on every 100,000 USDT traded.

Leverage does not change slippage on a given order value: a 100,000 USDT position fills the same way whatever margin backs it. What changes is how large that cost is relative to your margin. Take 5,000 USDT of margin at 20x on MEXC's AAPL stock futures: the position is 100,000 USDT, each basis point of slippage costs $10 per side, and one basis point on a round trip equals about 0.4% of the margin posted. Raise leverage on a fixed margin and the position grows, so slippage has to be recalculated for the larger order rather than scaled in a straight line. The Advanced hub covers sizing in more depth.

No. Volume counts what has already traded; liquidity is what is available to trade now, and at what price. A market can print large daily volume while the book near the price stays thin, and the gap shows up as slippage on the next order. Volume is a useful sign of activity, but the measures that predict your fill are near-price depth, spread and slippage at your order size.

Five habits. Check the depth near the price in MEXC's order book before sending a large market order. Use limit orders when timing allows: a resting limit order fills at your price or better, or not at all, and can qualify as maker. Split large orders instead of sending one that walks the book. Trade when the market is active: stock futures trade around the clock, but liquidity thins outside regular US hours, and commodity reference markets pause on weekends and holidays. And size the order to the book, not only to the account.