Artha Protocol - The Infrastructure for Crypto Liquidity

Enterprise-grade market making infrastructure, blockchain development, and smart contract solutions. Professional algorithmic strategies with non-custodial technology designed to scale.

Market Making Services

Supported Exchanges

We support 10+ major cryptocurrency exchanges: Binance, KuCoin, MEXC, Gate.io, Bitget, XT.com, BitMart, LBank, BingX, Coinstore, Toobit, Weex, OrangeX, HotCoin, and more.

Why Choose Artha Protocol?

Additional Services

Contact

Email: contact@arthaprotocol.com

Website: https://arthaprotocol.com

📊 ADVANCED • Analytics Guide

Crypto Market Making Metrics & KPIs

The essential metrics every project should track to measure and optimize market making performance

9 min read
Advanced
February 2026

Effective market making isn't just about having liquidity—it's about measurable, optimizable performance. Understanding and tracking the right metrics allows you to evaluate providers, identify issues early, and continuously improve trading conditions.

Why Metrics Matter

5x

Better performance with data-driven optimization

72%

of issues detected early through metrics

40%

cost savings with proper benchmarking

Core Metrics

Bid-Ask Spread

The difference between the highest buy order and lowest sell order price

Formula
Spread % = (Ask - Bid) / Mid Price × 100
Example
If BTC bid is $50,000 and ask is $50,100, spread = 0.2%
Good: < 0.5% for major pairs
Poor: > 2% indicates poor liquidity

Order Book Depth

Total value of orders within a certain price range from mid price

Formula
Depth = Sum of orders within ±2% of mid price
Example
$250K depth means $50K order causes ~0.2% slippage
Good: > $100K within ±2%
Poor: < $10K indicates thin market

Trading Volume

Total value of trades executed over a time period

Formula
24h Volume = Sum of all trades in 24 hours
Example
$1.2M daily volume signals healthy trading
Good: > $500K daily for mid-cap
Poor: < $50K suggests low interest

Slippage

Price movement caused by executing a trade

Formula
Slippage = Executed Price - Expected Price
Example
0.15% slippage on $50K order = $75 cost
Good: < 0.3% for $10K orders
Poor: > 1% for moderate sizes

Advanced Metrics

Order Book Imbalance

Ratio of buy vs sell orders indicating market sentiment

(Bids - Asks) / (Bids + Asks)

Quote Availability

Percentage of time market maker has active orders

Time with quotes / Total time × 100

Inventory Turnover

How quickly inventory rotates through trading

Volume / Average Inventory

Fill Rate

Percentage of placed orders that get executed

Filled Orders / Total Orders × 100

Price Volatility

Standard deviation of price movements

σ of price changes over period

Market Share

Provider's volume as percentage of total market

Provider Volume / Market Volume × 100

Performance Benchmarks

MetricExcellentGoodPoor
Spread< 0.3%0.3-0.8%> 1%
Depth (±2%)> $200K$50K-$200K< $50K
24h Volume> $1M$100K-$1M< $100K
Uptime> 99.9%99-99.9%< 99%
Slippage (10K)< 0.1%0.1-0.5%> 0.5%

Real-Time Analytics with Artha Protocol

Live Dashboards

Real-time metrics visibility

Daily Reports

Automated performance summaries

KPI Alerts

Instant notifications on issues

See Our Analytics DemoView Plans