The difference between the highest bid and lowest ask price for an asset.
The bid-ask spread represents transaction costs and liquidity conditions. Tight spreads indicate good liquidity; wide spreads imply higher slippage risk.
If bids are $9.95 and asks are $10.05, the spread is $0.10. A market buy will likely execute near $10.05, incurring the spread as implicit cost.
All terms and definitions may update as the Cryptionary improves.