Program Overview
Core topics
- Order book mechanics and matching engines
- Trading pairs and quote currency dynamics
- Centralized vs decentralized exchange architecture
- Automated market makers and liquidity pools
- Fee structures: maker, taker, and hidden costs
- Custody models and withdrawal mechanics
Exchange types compared
We break down CEX, DEX, and hybrid models with specific examples of what each does well and where they fail. You'll understand why certain exchanges have better prices for specific trading pairs.
Practical exercises
Order book analysis using live dataCalculate real slippage impacts and optimal order sizing for different market conditions
Four weeks, roughly 3 hours per week including hands-on analysis
Most people start trading crypto without understanding what happens when they click "buy." This course shows you the actual mechanics: how centralized exchanges match orders, what automated market makers do differently, and why slippage happens on large trades.
We'll examine real order book data, calculate spread costs, and compare centralized versus decentralized exchange architectures. You'll learn about custody models—why "not your keys, not your coins" matters—and the specific risks each exchange type carries.
The technical content includes API interaction basics, fee structures that eat into profits, and liquidity metrics that tell you whether a market is actually tradeable. No get-rich-quick schemes, just the operational knowledge you need to understand what's happening with your money.