Comment by mikeodds

4 months ago

That’s cumulative liquidity available on the right hand side.

i.e the ~13k shown at 99c and ~12k show at 98c aren’t independent. If the 12k is taken at 98c, only 1k would be left avail at 99c.

You’re right if you wanted to hold the price there it would cost you more, however if there isn’t a straight arb, maybe not instantly, and (some) smart bettors might be wary of such a market going to near 100%

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