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system
what is market order's relation to bid ask spread?
user
because in the case for 100/101, if you wanted to placed a limit buy order at top of the bid list you would place it at 101 and get filled straight away. if placing a limit buy order at the top of 91 (for 90/98) you would not get filled but just be placed at the top of the list. you might get filled at a lower price if an ask comes in matching your bid, however you might never get filled. in regards to market orders, with the 100/101 being more liquid, if your market order is larger than the orders at 101, then the remainder of your order should still get filled at only a slightly higher price. in regards to market orders with the 90/98, being less liquid, it is likely that only part of your order gets filled, and any remained either doesn't get filled or gets filled at a much higher price.
assistant