> ## Documentation Index
> Fetch the complete documentation index at: https://peak-docs.birdeye.so/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Token Trading & Volume

> Data Dictionary — token trading and volume terms with definitions, formulas, units, and source commands

Volume aggregates, trade counts, liquidity depth, slippage, and venue-level trade data.

***

### Trading Volume (24H)

Total value of tokens traded across all venues in the last 24 hours.

```
Formula   Σ(Trade Price × Trade Size) over 24H
Unit      USD
Example   $1.2B
```

**Related** · CEX Volume, DEX Volume

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`VLA`](/docs/docs/core-concepts/commands/by-object/token#vla-volume-analysis) · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity) · [`DMP`](/docs/docs/core-concepts/commands/by-object/dex-market#dmp-dex-market-pair)

***

### CEX Volume

Aggregate trading volume on centralized exchanges.

```
Formula   Σ(Volume) across CEX venues
Unit      USD
Example   $950M
```

**Related** · DEX Volume, Trading Volume

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`LTD`](/docs/docs/core-concepts/commands/by-object/token#ltd-live-trades)

***

### DEX Volume

Aggregate trading volume on decentralized exchanges.

```
Formula   Σ(Volume) across DEX venues
Unit      USD
Example   $250M
```

**Related** · CEX Volume, Trading Volume

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`LTD`](/docs/docs/core-concepts/commands/by-object/token#ltd-live-trades) · [`SPT`](/docs/docs/core-concepts/commands/by-object/wallet#spt-spot-trading)

***

### Spot Volume

Trading volume in spot (immediate settlement) markets.

```
Formula   Σ(Spot trade values)
Unit      USD
Example   $800M
```

**Related** · Perpetual Volume, CEX Volume

**Used in** · [`TCP`](/docs/docs/core-concepts/commands/by-object/token#tcp-token-comparison)

***

### Perpetual Volume

Trading volume in perpetual futures/swap markets.

```
Formula   Σ(Perp trade values)
Unit      USD
Example   $2.1B
```

**Related** · Spot Volume, Open Interest

**Used in** · [`TCP`](/docs/docs/core-concepts/commands/by-object/token#tcp-token-comparison)

***

### Volume by Venue

Trading volume segmented by exchange or DEX venue.

```
Formula   Per-venue: Σ(trade values)
Unit      USD per venue
Example   Uniswap: $85M, Raydium: $42M
```

**Related** · CEX Volume, DEX Volume

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`VLA`](/docs/docs/core-concepts/commands/by-object/token#vla-volume-analysis) · [`SPT`](/docs/docs/core-concepts/commands/by-object/wallet#spt-spot-trading)

***

### Daily Turnover Ratio

Ratio of 24H trading volume to market cap; measures trading activity relative to size.

```
Formula   Volume 24H / Market Cap
Unit      Ratio
Example   0.15
```

**Related** · Trading Volume, Market Cap

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk)

***

### Trade Count

Number of individual trades executed in a time period.

```
Formula   Count of trades
Unit      #
Example   125,000 trades (24H)
```

**Related** · Trading Volume, Avg Trade Size

**Used in** · [`PMN`](/docs/docs/core-concepts/commands/by-object/token#pmn-price-monitor) · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity) · [`DEP`](/docs/docs/core-concepts/commands/by-object/protocol#dep-dex-performance)

***

### Average Trade Size

Mean value per trade over a time period.

```
Formula   Total Volume / Trade Count
Unit      USD
Example   $9,600
```

**Related** · Trade Count, Trade Size Distribution

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`DXT`](/docs/docs/core-concepts/commands/by-object/token#dxt-dex-trader-analysis)

***

### Median Trade Size

Middle value of all trade sizes; less sensitive to outliers than average.

```
Formula   Median(all trade values)
Unit      USD
Example   $2,400
```

**Related** · Average Trade Size

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk)

***

### Trade Size Distribution

Breakdown of trades by value range (e.g., under $1K, $1K–$10K, $10K–$100K, $100K+).

```
Formula   Count per size bucket / Total Count
Unit      % / #
Example   under $1K: 65%, $1K–$10K: 25%
```

**Related** · Average Trade Size, Whale Trades

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity)

***

### Buy/Sell Ratio

Proportion of buy-initiated versus sell-initiated trades.

```
Formula   Buy Volume / Sell Volume
Unit      Ratio
Example   1.15 (more buying)
```

**Related** · Net Volume, Trading Volume

**Used in** · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity)

***

### Buy/Sell Volume Split

Breakdown of trading volume into buyer-initiated and seller-initiated components.

```
Formula   Buy Volume vs Sell Volume
Unit      USD
Example   Buy: $650M, Sell: $550M
```

**Related** · Buy/Sell Ratio, Trading Volume

**Used in** · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity)

***

### Bid-Ask Spread

Difference between best bid and best ask price.

```
Formula   Best Ask − Best Bid
Unit      USD / bps
Example   $0.05 / 1.2 bps
```

**Related** · Liquidity, Order Book Depth

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk) · `MLA`

***

### Order Book Depth

Cumulative volume available at various price levels in the order book.

```
Formula   Σ(Size) at each price level
Unit      USD
Example   $5M within ±2%
```

**Related** · Bid-Ask Spread, Liquidity

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk) · `MLA` · [`SXA`](/docs/docs/core-concepts/commands/by-object/centralized-exchange#sxa-spot-cx-trading-analysis)

***

### Price Impact

Estimated price movement caused by executing a trade of a given size.

```
Unit      %
Example   0.35% for $100K sell
```

**Related** · Order Book Depth, Liquidity

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk) · [`DMP`](/docs/docs/core-concepts/commands/by-object/dex-market#dmp-dex-market-pair)

***

### Stress Testing (Price Impact)

Simulated price impact analysis under various trade sizes to estimate slippage.

```
Formula   Simulated slippage at $10K, $100K, $1M trade sizes
Unit      %
Example   $100K sell → 0.35% impact
```

**Related** · Price Impact, Order Book Depth, Liquidity

**Used in** · [`LR`](/docs/docs/core-concepts/commands/by-object/token#lr-liquidity-risk)

***

### PnL (Profit and Loss)

Net gain or loss on trading activity for a wallet or trader.

```
Formula   Σ(Sell Value) − Σ(Buy Value)
Unit      USD
Example   +$125,000
```

**Related** · Win Rate, ROI

**Used in** · [`TDP`](/docs/docs/core-concepts/commands/by-object/protocol#tdp-trader-profitability) · [`DXT`](/docs/docs/core-concepts/commands/by-object/token#dxt-dex-trader-analysis)

***

### Trade Feed (Real-time)

Live stream of individual trades showing token, type, amount, price, trader, and timestamp.

```
Unit      Events
Example   Buy 5,000 SOL @ $142.50 by 0xab...cd
```

**Related** · Recent Trades, Trade Count

**Used in** · [`TDA`](/docs/docs/core-concepts/commands/by-object/protocol#tda-trading-activity) · [`DMP`](/docs/docs/core-concepts/commands/by-object/dex-market#dmp-dex-market-pair)

***

### Recent Trades

List of the most recent individual trades executed on a DEX pair or token.

```
Unit      Events
Example   3 min ago: Sell 1,200 SOL @ $142.30
```

**Related** · Trade Feed, OHLCV

**Used in** · [`DMP`](/docs/docs/core-concepts/commands/by-object/dex-market#dmp-dex-market-pair)

***

### Trader Count

Total number of unique wallets that executed trades in a time period.

```
Formula   Count(unique trader addresses)
Unit      #
Example   8,500 unique traders (24H)
```

**Related** · Active Wallet Count, Trade Count

**Used in** · [`PFA`](/docs/docs/core-concepts/commands/by-object/token#pfa-performance-analysis) · [`DEP`](/docs/docs/core-concepts/commands/by-object/protocol#dep-dex-performance) · [`DUA`](/docs/docs/core-concepts/commands/by-object/protocol#dua-dex-user-analysis)

***

### Win Rate

Percentage of a trader's or wallet's closed positions that were profitable.

```
Formula   Profitable Trades / Total Trades × 100
Unit      %
Example   62.5%
```

**Related** · PnL, Trade Count

**Used in** · [`TDP`](/docs/docs/core-concepts/commands/by-object/protocol#tdp-trader-profitability) · [`DXT`](/docs/docs/core-concepts/commands/by-object/token#dxt-dex-trader-analysis)