Cross-exchange Data
Cross-exchange data aggregates market information from multiple trading venues into a unified view. It lets you compare prices, volumes, and liquidity across exchanges.
Understanding the Concept
Markets are fragmented. Bitcoin trades on hundreds of exchanges simultaneously, each with different prices, volumes, and liquidity. Arbitrage exists because of these differences.
Cross-exchange data gives you the complete picture. Instead of checking Binance, then Coinbase, then Kraken separately, you get unified data showing price differences, volume distribution, and where liquidity sits.
This matters for execution (find the best price), analysis (spot arbitrage opportunities), and risk (understand where your exposure really is). Single-exchange data only shows you part of the market.
Real-World Example
You're executing a large ETH buy order. Cross-exchange data shows Binance has the tightest spread but only 500 ETH depth. Coinbase has more liquidity but 0.1% worse price. OKX has a flash sale 0.3% below market. Without cross-exchange visibility, you'd miss this.
How PRISM Handles This
PRISM aggregates data from 50+ exchanges into unified endpoints. Query /ticker/bitcoin and get prices from every exchange in one response. Our /aggregate endpoint computes volume-weighted average prices, total market depth, and exchange-by-exchange breakdowns.
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