Posts on #market microstructure to help you on your journey

Mateusz Pulka

Jul 4, 2026

I labeled 16,726 extreme volume-imbalance events across 39 Binance perpetual symbols in 2025 and compared 37 event-time statistics against what price did over the next 12 hours. Direction was a coin flip. Move size was not: elevated volatility, high relative price impact, distance from the prior point of control, hot relative volume, and weaker BTC linkage separated movers from quiet events across symbols and months.