Mid-market price
The midpoint between the best bid and best ask price for an asset at a point in time, used as the reference for spread calculations.
Mid-market is the canonical reference price. Spread is measured against it: if the mid-market BTC price is 100000 USD and an exchange quotes a buy price of 102000 USD, the implied spread is 2 percent. Augea captures mid-market at snapshot time so every spread estimate is reproducible.
Related terms
Estimates, not quotes.