> ## Documentation Index
> Fetch the complete documentation index at: https://staging.docs.aile.tech/llms.txt
> Use this file to discover all available pages before exploring further.

# Markets

> Live: the pairs quoted on Base right now, the reference mid each is priced from, the spread, and the largest firm size in each direction.

Every pair is quoted against USDC, both ways. The table reads `GET /levels` and `GET /config` from the
staging gateway every 10 seconds; it is the same data your integration gets.

\<table><thead><tr><th>Pair</th>
              \<th>Reference mid</th>
              \<th>Why this reference</th>
              \<th>Spread, bps
buy / sell</th>
              \<th>You buy the coin
firm size now</th>
              \<th>You sell the coin
firm size now</th></tr></thead>
          \<tbody /></table>


      

· Sizes are the largest firm quote available at this moment, in USDC and in the coin. Spread is the distance of that quote's price from the reference mid. Indicative: only `GET /quote` signs.

## How to read it| Column | Meaning |
| - | - |
| **Reference mid** | The mid-market rate the makers price from, in USD per coin, with its source (`chainlink` = interbank feed, `api` = local stablecoin market) and the time of its last update. |
| **Why this reference** | What that source means for this currency, and whether the local-market mid is the intended one. Full explanation per currency: [Reference rates](https://staging.docs.aile.tech/reference/rates.md). |
| **Spread** | Distance of the firm quote's price from the reference, in basis points, for buying the coin with USDC and for selling it. It is the whole cost of the trade besides gas: there is no protocol fee ([Fees and pricing](https://staging.docs.aile.tech/fees-and-pricing.md)). |
| **You buy / you sell the coin** | The largest firm quote available right now in that direction, as the USDC amount and the coin amount. A request above it answers `400 over-size`. A dash with a reason means the direction is not quoted at this moment: *maker funding* (the maker's balance or allowance cannot cover a trade), *no reference price*, *paused*. |A quote at or below the size shown fills at exactly the quoted amounts or reverts: no slippage, no last
look. Sizes move as fills happen and as makers rebalance, so read them from `/levels` at runtime rather
than copying them. Quotes are available 24/7; which directions are quoted at a given moment depends on the
makers' inventory and reference prices.> [!NOTE]
>
> Need a size that must always be available, or a pair not listed here? Write to
> [hello@aile.tech](mailto:hello@aile.tech) with the corridor, expected daily volume and ticket sizes.
> See [Liquidity and capacity](https://staging.docs.aile.tech/reference/liquidity-and-capacity.md).## The same data by API```bash theme={null}
curl -s https://staging.app.aile.tech/api/base/v1/levels | jq '.levels[] | {sellToken, buyToken, firmQuoted, maxFirmSize, reference, reason}'
```No key is needed. The answer is cacheable for a few seconds; the machine-readable form is documented at
[`GET /v1/levels`](https://staging.docs.aile.tech/api-reference/get-levels).


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