DOM ladder & time and sales

Reading Binance and Hyperliquid BBO, ladder and tape as one order-flow column: native symbol-specific top of book, depth bars, grouping and large-trade highlights.

The DOM (depth of market) shows resting bids and asks per price level; the tape shows executed trades. EdgeDepth stacks them as one column on one price axis across 660+ Binance USDT-M crypto and TradFi perpetuals, plus every Hyperliquid perpetual, so your eye scans book and prints together. The live top of book comes from native-rate per-symbol Binance bookTicker plus sub-second per-coin Hyperliquid BBO, preserving every received best-bid and best-ask price and quantity change, preserved per symbol.

The DOM ladder and time & sales stacked as one column: bid and ask sizes with depth bars, pinned spread row, prints colored by aggressor side — The order-flow column: ladder above, tape below, one price axis.

The ladder

Bid sizes left, ask sizes right, with depth bars behind each size scaled to the visible book, so relative size reads instantly - a level three times thicker than its neighbors looks three times thicker.
The spread row is pinned and highlighted: you always know where the market is, even scrolled deep into the book.
The best bid and offer are symbol-specific: dedicated Binance bookTicker and sub-second per-coin Hyperliquid BBO updates drive the top of book instead of an occasional global summary sample.
Price grouping - 0.1 / 1.0 / 10 tick buckets, or Auto. This is a zoom knob for the book: fine grouping shows the actual queue at each price (and reveals games played at single ticks); coarse grouping collapses noise into structure and shows you the walls. Flip between them; the book looks genuinely different at each scale, and both views are true.
USD / COIN toggles whether sizes read as notional or base units. USD makes pairs comparable - 40 BTC and 400,000 DOGE stop being apples and oranges.

The same book at 0.1, 1.0 and 10 grouping: queue detail collapses into wall structure.

The tape

Each print shows price, size and timestamp, colored by aggressor side: who crossed the spread, not who was resting. Unusually large prints get a notional-scaled bubble and highlight, so one glance shows when someone is hitting the book with real size instead of drip-feeding an order.

The tape’s information is in its texture. Steady two-sided prints are a market at rest. A run of same-side prints, growing in size, with the highlights stacking up - that is someone who needs out (or in) more than they need a good price.

Reading them together

The column earns its place when you read book against prints:

Absorption. Price presses into a level, the tape hammers it with market orders, and the level refuses to break - size refills as fast as it’s consumed. Someone is standing there on purpose. Levels that absorb are the ones worth marking.
Evaporation. Bids cancelling ahead of price - thinning before the market even reaches them. Resting liquidity leaving early is often the tell before a flush: the tape hasn’t done anything yet, but the ladder has already voted.
One-sided tape into thin book. When aggressive flow lines up with a book that has stopped replenishing, displacement gets easy. This is the same condition VPIN measures statistically - the column shows you the mechanism raw.
Resting size is a claim, not a commitment. Anyone can post size and pull it. Weight what executes (the tape, the absorption) over what merely rests. The ladder tells you where to look; the tape tells you whether to believe it.

Why it matters

A chart shows you that price moved. The column shows you how: bids evaporating before a flush, one-sided prints during a squeeze, absorption at a level that refuses to break. The current Binance replay preserves every book delta, per-symbol bookTicker update and print so you can study a cascade’s order flow repeatedly. Hyperliquid history is actively backfilling into its full research layer.