{"slug":"what-price-a-market-order-fills-at","qid":"spread_across_names","label":"Quoted spread across six household names, 11:00 to 11:30 a.m. ET on Sep 16, 2026","post_title":"What Price Does a Market Order Fill At?","post_url":"/blog/what-price-a-market-order-fills-at#q-spread_across_names","columns":["symbol","avg_spread_cents","avg_spread_bps"],"rows":[{"symbol":"MSFT","avg_spread_cents":10.94,"avg_spread_bps":2.21},{"symbol":"AAPL","avg_spread_cents":3.58,"avg_spread_bps":1.07},{"symbol":"SPY","avg_spread_cents":1.77,"avg_spread_bps":0.23},{"symbol":"NVDA","avg_spread_cents":1.38,"avg_spread_bps":0.64},{"symbol":"KO","avg_spread_cents":1.14,"avg_spread_bps":1.29},{"symbol":"NFLX","avg_spread_cents":1.1,"avg_spread_bps":1.42}],"shape":"ranking","sql":"SELECT\n    ticker                                                AS symbol,\n    round(avg(toFloat64(ask_price - bid_price)) * 100, 2) AS avg_spread_cents,\n    round(avg(toFloat64(ask_price - bid_price)\n              / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2)) * 10000, 2) AS avg_spread_bps\nFROM global_markets.cache_stocks_quotes\nWHERE ticker IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'NFLX')\n  AND sip_timestamp >= toDateTime('2026-09-16 15:00:00', 'UTC')\n  AND sip_timestamp <  toDateTime('2026-09-16 15:30:00', 'UTC')\n  AND bid_price > 0\n  AND ask_price > bid_price\nGROUP BY symbol\nORDER BY avg_spread_cents DESC","computed_at":"2026-10-05T14:57:08.416979+00:00","elapsed":0.002581186}