Ops Development & AI Practice
Aug 14, 2025 · Industry Insights
Where Does the $100 Spread Go? Unveiling Price‑Time Priority in Crypto Exchanges
This article explains how modern cryptocurrency exchanges use the price‑time priority rule to match orders, returning any price improvement to the active trader rather than pocketing the spread, and outlines the primary revenue streams that keep exchanges profitable.
cryptocurrencyexchange mechanicsmatching engine
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