Replying to Avatar Kendy

I’m confused by your application of the word spread. Typically that term is used for the bid ask delta. ETHBTC being 0.03275btc today is more commonly a ratio or exchange rate.

I also don’t find value talking about when all ETHBTC market pairs shut down and do zero volume. Again that likely won’t happen in the next 20 yrs.
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BottleTeams 1y ago

Like the ETH-BTC spread is an actual tradable product on most exchanges. You can buy or sell it, it's a synthetic market. Maybe not retail but if you watch it on coinbase you will see the market makers doing their thing arbitraging.

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