Global Best Bid and Offer (GBBO)
Global Best Bid and Offer (GBBO) is the best bid and offer of a given currency pair across all major cryptocurrency exchanges around the world. It provides the bird-eye view on the best pricing and liquidity available on the current cryptocurrency market. GBBO, unlike National Best Bid and Offer (NBBO) in the U.S. Equity market, shows bid and ask prices are crossing each other in most cases (see ECX-100:D1 and ECX-100:E1 for more details). In plain English, it means that "sellers sell lower with the unnecessary (deep) discount and buyers buy higher with the unnecessary (high) premium". Such illogical market phenomena occur very frequently (or, almost every time) in the cryptocurrency market. It is mainly because exchanges are not "synched" among them to provide better quote pricing to their customers. Such market inefficiency provides huge trading opportunities for risk-free (and statistical) arbitrary in the market. Simple risk-free arbitrary disappears decades ago in main street financial markets (e.g., U.S. Equities).
GBBO is published through realtime "push" streaming feeds/channels. Currently, GBBOs are updated every 15 seconds for the following currency pairs in the current beta. The update time interval and currency pairs are carefully selected based on demands and use statistics on current ExxaBlock products and services. If you are interested in other currency pairs and shorter update intervals, please contact ExxaBlock.
ECX-100:B1 (Global Best Bid and Offer): the highest bid and the lowest offer across exchanges for a given currency pair
The APIs include real time streaming API and cache API. The direct access supports low-latency, constant-jitter connectivity, and high-throughput I/O computation. Through dedicated or shared connections to the servers, customers can perform time-sensitive and/or high-throughput computational tasks. Concise Binary Object Representation (CBOR) is used to minimize the network communication overhead caused by message encoding, decoding, and transmission.
ECX-100 is available on public clouds, private clouds, and customer on-premise data centers.
To view our real time streaming quotes view the link below: