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Gross Price Gap vs Net Edge: Why Orderbook Spread Eats Your Arbitrage
The cross-exchange price gap on your scanner is gross—not what you keep. Learn how bid-ask spread on each venue turns headline % into net edge, and why unrealized PnL lies.
How to Read an Orderbook for Arbitrage Entry Quality
Orderbook analysis for crypto arbitrage is how you translate a scanner headline into feasible fills: spread, depth, imbalance, spoofing cues, and when to shrink size or skip.