Institutional Execution Analytics for Modern Crypto

Coinorama was built to solve a critical limitation of legacy crypto aggregators: passive display boards show stale ticker prices and arbitrary ±2% depth numbers, but give institutional and retail traders zero visibility into real execution costs.

The Problem

Why Static ±2% Depth Fails Traders

Standard aggregators report static dollar sums within ±2% of mid-price. However, real market orders do not fill uniformly. A $50,000 order might consume 80% of thin top levels on one venue and incur 0.45% slippage, while another exchange has dense microstructure that absorbs the same order with only 0.05% slippage.

The Solution

Active L2 Book Walking & SOR

Coinorama continuously ingests full L2 orderbook diffs across top centralized and decentralized exchanges. Our Go worker traverses sequential price levels for any simulated USD amount, calculating the exact Weighted Average Fill Price (WAP), taker fee impacts, and optimal multi-exchange split routes.

True Slippage Mathematical Methodology

When a trader executes a market order of size $U on side S ∈ {buy, sell}:

1. Level Capacity: C_i = Price_i × Amount_i

2. Cumulative Spend: ∑_{i=1}^k C_i = $U

3. Weighted Average Fill: P_avg = $U / ∑_{i=1}^k (C_i / Price_i)

4. Real Slippage %: Slippage % = (|P_avg - P_mid| / P_mid) × 100

Furthermore, Coinorama layers venue-specific taker fee schedules (Binance 0.10%, Kraken 0.26%, Coinbase 0.50%) on top of slippage to output Net Execution Loss.

Part of the TidoEx Ecosystem

Ecosystem Partner

Coinorama works in lockstep with TidoEx (tidoex.com), the hybrid crypto exchange combining low-latency limit orderbooks with constant-product AMM liquidity pools.

Launch True Slippage Engine