> For the complete documentation index, see [llms.txt](https://defi-handbook.gitbook.io/defi-handbook-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://defi-handbook.gitbook.io/defi-handbook-docs/how-does-market-depth-change-prediction-share-slippage.md).

# How Does Market Depth Change Prediction Share Slippage?

Market depth changes prediction share slippage by determining how many shares can trade at the best available price before an order reaches worse prices. A deep book keeps your average fill near the quote; a shallow book makes the same order consume more price levels, so the cost rises with size.

### What does depth tell you before you buy?

Depth shows how many shares are offered for sale at each price, and how many are bid for shares sellers want to exit. If you buy YES shares, the relevant side is the asks: your order takes the cheapest available shares first, then moves up the ladder if it needs more.

Prediction shares commonly trade between $0 and $1, with a winning share settling at $1 and a losing one at $0. So a YES ask of $0.42 represents a 42-cent entry price, but only for the quantity offered there. The last-traded price or headline probability does not tell you how much you can buy at that price.

### How does a larger order increase slippage?

A larger order consumes more levels of the book, raising its volume-weighted average price (VWAP): the total amount paid divided by the shares filled. For example, suppose the asks show 100 shares at $0.42, 150 at $0.43, and 50 at $0.45. Buying 300 YES shares costs $129, or an average of $0.43 each.

The top ask suggested $0.42, so the average is one cent higher per share, or $3 more across the order, before fees. A 100-share order could fill at $0.42 if that level is still available. That difference is slippage from walking the book; it is separate from the bid-ask spread and any transaction charges.

### What should you check on Byreal Predict?

Byreal Predict’s launch materials say it draws on Polymarket liquidity infrastructure. That matters because the displayed depth may come from that underlying market, rather than from a separate pool created for every Byreal screen. Knowing [how to choose a Byreal product](https://dev.to/crypto-blog/how-do-you-choose-between-byreal-swaps-perps-and-pools-3fha) changes whether you start in swaps, perps, or pools; for prediction shares, the immediate execution check is the available size at each ask.

Before submitting, compare your order size with the quantity near the best ask and inspect the estimated average price if the interface shows one. Recheck just before confirming: resting orders can be canceled or filled, and a new event update can draw trades into the market. CME Group’s liquidity guidance also cautions that displayed book depth alone is an incomplete measure of liquidity, because it can change before an order executes.

### When should you use a limit order or split the trade?

Use a market order when completing the trade quickly matters more than controlling the maximum entry price. If you want a price ceiling, a limit order can set it; it may fill only partly or not at all if the market moves away. A marketable limit order—one priced to meet current asks but capped at your maximum—can balance speed with a defined worst price.

For a large position, splitting it into smaller orders can reduce the amount you take from visible levels at once, but it adds steps and gives the book time to move between fills. It does not guarantee a better average. Check both the expected fill cost and how much price movement your remaining edge can absorb.

Use a market order when immediacy is worth the full visible depth cost; otherwise, cap your price and accept the risk of a partial or missed fill.