$1M DYDX buyback — execution options
Order book and traded volume
Market buy paired with a worked defence tranche
Each table reads left to right: pick a rate (coloured by the tiers above), and it shows how long the tranche takes to deploy, how much that means buying per day, and the price premium that daily buying would incur. Avg fill vs mid is the premium over today's mid price you would pay on average if a whole day's buying were pushed through the book in one pass — so at 10% participation you buy roughly a day's worth and fill about 1% above mid. A tranche genuinely worked across the day pays less than this, because the book refills between fills.
Average fill cost by market-buy size
Average fill price against mid, walking the current displayed book. Dashed markers are the four market-buy sizes above.
Test your own sizes against this snapshot
Runs entirely in your browser against the stored snapshot — nothing is sent anywhere. Refresh live pulls the current order book straight from Binance into your browser; the stored snapshot is the shared baseline everyone loads by default.
Single $1M market order
Ending price is the last price level a market order reaches by walking the current displayed Binance book; it is an instantaneous measure that reverts as market-makers replenish. Deploys in assumes the tranche is worked at the stated percentage of market volume, held at the current 24h figure. Avg fill vs mid is the premium over the current mid price paid on average when one day's notional at that participation rate (rate × 24h volume) is swept through the book in a single pass. It is the weighted price across every level the order touches, not the last level reached: a single large resting order can absorb a wide range of sizes at one price, so the final level saturates and stops distinguishing between rates, while the average keeps rising with size. All figures hold the book constant and are therefore upper bounds, since a worked order allows replenishment between fills. Participation tiers are execution-desk convention for managing market impact; they are not exchange or regulatory limits. Depth figures count resting sell orders within the stated distance of the best ask; totals that include liquidity far above mid are not realistically accessible and are not shown. The stored curve spans —, which bounds the simulator's range. Internal decision aid, not investment or legal advice.