Adverse selection measures whether fills happen at bad times — e.g., we buy just before a drop.
<40% adverse = our fills are random (healthy). >60% = sophisticated traders are picking us off (tighten or widen accordingly).
Data accumulates after live fills with 5+ minute history.
Live Order BookSpread: -- bps
Size
bps
Bid
Ask
bps
Size
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Recent Trades
Time
Side
Price
Size
Fee
P&L
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Bot Configuration
🚨 Circuit Breaker
⚡ When triggered: all bid orders are cancelled and quoting pauses for the duration. Asks remain active.
Current defaults: cancel bids if price drops 3%+ in 5 min, pause for 10 min.