Tether Gold spreads and order-book depth

Gemini has the tightest measured spread on Tether Gold right now, at $12.95 per XAUT (31.1 bps) on XAUT/USD, sampled 44 minutes ago. RampAtlas reads 1 venue' public order books for XAUT every two hours and reports the spread, the resting depth within 1% of the mid, and what a market buy of $500, $5,000 or $50,000 would pay above the mid.

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Where XAUT trades tightest

ExchangePairSpread24h medianBid depth 1%Ask depth 1%$500 buy$5,000 buy$50,000 buySampled
GeminiXAUT/USD$12.9531.1 bps29.2 bps$10,643$9,81224.4 bps25.2 bps—44 minutes ago

Spread is the latest reading, shown as what crossing it costs on one XAUT and as a share of the mid in basis points; the median column is over the last 24 hours. Depth is the notional value of resting orders within 1% of the mid on each side, converted to US dollars. Slippage is what a market buy of that size would pay above the mid on the book we read, and is blank where the visible book could not fill it.

  • Gemini (XAUT/USD): The visible asks could not fill $50,000, so that slippage is not measured.

Spread history

XAUT spread over the last 7 daysOne panel per venue. Each point is a single order-book read; the vertical scale is that venue's own range, so panels show shape rather than comparing venues to one another. Compare levels in the table above.

  • Gemini

    XAUT/USD · <0.001 bps–61.1 bps

    Oct 631.1 bpsOct 6: 41.4 bpsOct 6: 21.1 bpsOct 6: 21.1 bpsOct 7: 21.1 bpsOct 7: 61.1 bpsOct 7: 37.4 bpsOct 7: 6.86 bpsOct 7: 30.0 bpsOct 7: 13.1 bpsOct 7: 13.7 bpsOct 7: 2.91 bpsOct 7: 2.15 bpsOct 7: 2.91 bpsOct 8: 2.91 bpsOct 8: 27.6 bpsOct 8: 30.2 bpsOct 8: 31.6 bpsOct 8: 30.2 bpsOct 8: 31.9 bpsOct 8: 27.6 bpsOct 8: 29.5 bpsOct 9: 13.8 bpsOct 9: 1.93 bpsOct 9: 11.6 bpsOct 9: 28.4 bpsOct 9: 23.0 bpsOct 9: 27.6 bpsOct 9: 31.9 bpsOct 9: 28.3 bpsOct 9: 29.5 bpsOct 9: 17.7 bpsOct 9: 19.7 bpsOct 10: 18.7 bpsOct 10: 25.8 bpsOct 10: 19.8 bpsOct 10: 24.0 bpsOct 10: 21.4 bpsOct 10: 18.6 bpsOct 10: 23.3 bpsOct 10: 23.3 bpsOct 10: 20.6 bpsOct 10: 23.6 bpsOct 10: 23.5 bpsOct 10: 22.2 bpsOct 11: 25.0 bpsOct 11: 21.9 bpsOct 11: 16.5 bpsOct 11: 25.4 bpsOct 11: 17.6 bpsOct 11: 17.6 bpsOct 11: 19.6 bpsOct 11: 15.0 bpsOct 11: 13.4 bpsOct 11: <0.001 bpsOct 11: 0.670 bpsOct 11: 0.670 bpsOct 12: 16.0 bpsOct 12: 0.108 bpsOct 12: 0.108 bpsOct 12: 14.3 bpsOct 12: 30.2 bpsOct 12: 30.2 bpsOct 12: 30.2 bpsOct 12: 29.2 bpsOct 12: 30.2 bpsOct 12: 30.2 bpsOct 12: 30.2 bpsOct 13: 31.1 bpsOct 13: 25.0 bpsOct 13: 21.4 bpsOct 13: 9.14 bpsOct 13: 24.1 bpsOct 13: 22.5 bpsOct 13: 31.1 bps

Method

Pairs are fixed per venue so each series measures the same book over time: the quote currency is chosen once, preferring US dollars, then dollar stablecoins, then euros or the venue's home currency. A non-dollar book's depth is converted using that book's own mid against XAUT's snapshot US dollar price.

Frequently Asked Questions

Which exchange has the tightest XAUT spread?
Gemini, at $12.95 per XAUT (31.1 bps) on XAUT/USD as of the sample taken 44 minutes ago. Spreads move, so this page is re-measured every two hours.
Does a tighter spread mean XAUT is cheaper to buy there?
Only in part. The spread is one of three costs: the trading fee, the spread you cross, and the deposit or card fee that got your money onto the venue. The fee pages put all three together for a given purchase size, and use the measured spread on this page wherever we have one.
What does 1% depth tell me?
It is the dollar value of orders resting within 1% of the mid price on one side of the book. A venue with a tight spread but shallow depth will still move against a large order — which is why the table also shows what $500, $5,000 and $50,000 market buys would pay.

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