Foxpup
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Vile Vixen and Miss Bitcointalk 2021-2023
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September 22, 2013, 01:48:13 PM |
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It's quite simple. Size is the number of euros that people are offering to buy/sell, price is the number of ripples they want per euro, and sum is the cumulative total sizes of the orders, ie, the total number of euros that must be bought/sold to reach that price.
To give an example of how it works, say you want to trade 10 euros for ripples at market. How many ripples would you get? Well, you'd get the best bid price for your euros, which in this case is 81.37 XRP per euro. But you can only sell 5 euros at that price, so for the remaining 5 euros, you get the next best bid, which is 80.98 XRP per euro. But again, you can only sell 4.35 euros (9.35 total) at that price, so you sell the remaining 0.65 euros for the next best bid after that (75 XRP per euro). This bid is finally large enough to sell all your remaining euros, so we're all done, and you've sold 5 euros for 81.37 XRP each (406.85 XRP), 4.35 euros for 80.95 XRP each (352.1325 XRP), and 0.65 euros for 75 XRP each (48.75 XRP), for a grand total of 406.85 + 352.1325 + 48.75 = 807.7325 XRP. Average price = 80.77325 XRP per euro (or 0.01238 euros per XRP if you prefer).
Buying euros with ripples follows the exact same sequence, only you use asks instead of bids (and so you'll pay at least 205 XRP per euro due to the massive bid/ask spread resulting from the ridiculous illiquidity).
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