Tether Gold spreads and order-book depth

Gemini has the tightest measured spread on Tether Gold right now, at $6.29 per XAUT (14.2 bps) on XAUT/USD, sampled 1 hour 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$6.2914.2 bps15.4 bps$79,344$80,3057.11 bps7.11 bps23.8 bps1 hour 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.

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 · 1.72 bps–34.4 bps

    Sep 214.2 bpsSep 2: 4.00 bpsSep 2: 1.72 bpsSep 2: 2.73 bpsSep 2: 2.73 bpsSep 3: 3.94 bpsSep 3: 10.5 bpsSep 3: 16.0 bpsSep 3: 24.6 bpsSep 3: 20.7 bpsSep 3: 15.1 bpsSep 3: 31.8 bpsSep 3: 27.4 bpsSep 3: 30.6 bpsSep 4: 30.2 bpsSep 4: 34.4 bpsSep 4: 24.5 bpsSep 4: 29.8 bpsSep 4: 15.0 bpsSep 4: 29.3 bpsSep 4: 29.3 bpsSep 4: 18.6 bpsSep 4: 9.55 bpsSep 4: 9.43 bpsSep 4: 14.6 bpsSep 4: 19.0 bpsSep 5: 17.6 bpsSep 5: 14.2 bpsSep 5: 15.8 bpsSep 5: 14.2 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 $6.29 per XAUT (14.2 bps) on XAUT/USD as of the sample taken 1 hour 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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