How the Order Book Works on Pluang's Crypto Futures Platform
The order book on Pluang's Crypto Futures platform is a real-time list of every pending buy and sell order at each price level for a given USDT-margined contract, split into a bid side (buy orders) below the current price and an ask side (sell orders) above it. Market orders match immediately against the best price on the opposite side; limit orders join the book and wait. The order book reflects the last traded price, but PnL and liquidation are calculated from the mark price instead.
How to read and use the order book on Pluang:
- Structure: Bids below the current price, asks above. The gap between the best bid and best ask is the spread. A tighter spread means a more liquid market.
- Depth and walls: Each row shows a price level and the total contracts waiting there. Large clusters — "walls" — can act as temporary support or resistance.
- Market vs. limit orders: Market orders match immediately. Limit orders join the book and wait. Makers pay a lower fee than takers.
- Order book vs. mark price: The order book shows the last traded price; PnL and liquidation use the mark price, a weighted average across major global exchanges. The two stay close in liquid conditions and can widen during high volatility.
- Using it for entries and exits: Watch for large orders appearing or disappearing, shifting depth, and fill pace for short-term context — never as a standalone signal.
Related questions:
Q: What does a large sell wall in Pluang's futures order book mean?
A large cluster of sell orders at one price level suggests significant selling pressure there — price may struggle to break through until those orders are absorbed or cancelled.
Q: Can I see who placed orders in Pluang's futures order book?
No — the order book shows only aggregate quantities at each price level and never reveals individual trader identities.
Q: Does the order book on Pluang update in real time?
Yes — it updates continuously as new orders are placed, modified, or cancelled by any trader on that contract.
Q: Is the futures order book on Pluang separate from the spot Crypto Assets order book?
Yes — Crypto Futures is a USDT-paired product with its own order book, entirely separate from the IDR-only Crypto Assets spot market.