{"slug":"limit-orders-on-crypto-exchanges","qid":"crossing_cost","label":"Average quoted spread across household names, five minutes on Sep 23 2026","post_title":"Limit Orders on Crypto Exchanges vs Stocks","post_url":"/blog/limit-orders-on-crypto-exchanges#q-crossing_cost","columns":["symbol","avg_spread_bps","half_spread_bps"],"rows":[{"symbol":"SPY","avg_spread_bps":0.21,"half_spread_bps":0.1},{"symbol":"NVDA","avg_spread_bps":0.64,"half_spread_bps":0.32},{"symbol":"AAPL","avg_spread_bps":0.79,"half_spread_bps":0.4},{"symbol":"KO","avg_spread_bps":1.25,"half_spread_bps":0.63},{"symbol":"MSFT","avg_spread_bps":1.6,"half_spread_bps":0.8}],"shape":"ranking","sql":"SELECT\n    ticker                                                                  AS symbol,\n    round(avg(10000 * (toFloat64(ask_price) - toFloat64(bid_price))\n              / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2)), 2)    AS avg_spread_bps,\n    round(avg(10000 * (toFloat64(ask_price) - toFloat64(bid_price))\n              / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2)) / 2, 2) AS half_spread_bps\nFROM global_markets.cache_stocks_quotes\nWHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'SPY', 'KO')\n  AND sip_timestamp >= '2026-09-23 18:30:00'\n  AND sip_timestamp <  '2026-09-23 18:35:00'\n  AND toFloat64(bid_price) > 0\n  AND toFloat64(ask_price) > toFloat64(bid_price)\nGROUP BY symbol\nORDER BY avg_spread_bps","computed_at":"2026-10-06T15:13:58.063753+00:00","elapsed":0.003365749}