Liquidity depth per major asset
Polymarket's assessment for RD-F-065 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Polymarket operates an off-chain CLOB with on-chain settlement; AMM-style 2%/5% depth is not applicable. Depth is per-market. Tier 1 markets (elections, Fed decisions, major sports): ~400 bps quoted half-spread at central probability, millions daily volume, ~32 effective market makers per market. Long-tail markets: $0.05–$0.10/share spreads, thin books, significant slippage on size. Aggregate protocol-level 2% depth not computable without per-market enumeration. Yellow reflects non-standard metric applicability and long-tail liquidity thinness.
Sources #
- URLThe Anatomy of a Decentralized Prediction Market: Microstructure Evidence from the Polymarket Order BookArxiv study: median depth concentration ratio L1/L10=0.137 (near uniform-grid 0.10); Tier 1 spreads ~400bps at central probability; long-tail spreads 1300–1800bps.retrieved 2026-04-29
- Polymarket docs — OrderbookPolymarket orderbook documentation (CLOB architecture, off-chain matching, on-chain settlement)retrieved 2026-04-29
Methodology #
Measure on-chain liquidity depth for protocol-held assets at 2% and 5% price impact in USD.
See the full factor methodology and distribution across all protocols →