Spread

The gap between what an exchange sells crypto to you at and the mid-market reference price.

Spread is the single biggest hidden cost on many retail crypto platforms. An exchange may advertise a 0.5% trading fee but quote a buy price 2% above mid-market. From the buyer's point of view the 2% is just as real as the fee, but it is often omitted from comparison tables. Augea captures the quoted buy price at snapshot time and treats the implied spread as part of the effective fee.

Estimates, not quotes.