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Winner of the 2026 Hedgeweek Global Digital Assets Awards — Algorithmic Trading Solution Provider of the Year & Risk Management Software of the Year
SMART ORDER ROUTINGTWAPCONSOLIDATED BBOBASISSLIPPAGERFQSMART ORDER ROUTINGTWAPCONSOLIDATED BBOBASISSLIPPAGERFQ
SMART ORDER ROUTINGTWAPCONSOLIDATED BBOBASISSLIPPAGERFQSMART ORDER ROUTINGTWAPCONSOLIDATED BBOBASISSLIPPAGERFQ
IMPLEMENTATION SHORTFALLTCAPERPETUALSFUNDING RATEVWAPLIQUIDITY FRAGMENTATIONIMPLEMENTATION SHORTFALLTCAPERPETUALSFUNDING RATEVWAPLIQUIDITY FRAGMENTATION
IMPLEMENTATION SHORTFALLTCAPERPETUALSFUNDING RATEVWAPLIQUIDITY FRAGMENTATIONIMPLEMENTATION SHORTFALLTCAPERPETUALSFUNDING RATEVWAPLIQUIDITY FRAGMENTATION
MARKET IMPACTDARK POOLSCUSTODYPRIME BROKERAGELATENCYSETTLEMENT RISKMARKET IMPACTDARK POOLSCUSTODYPRIME BROKERAGELATENCYSETTLEMENT RISK
MARKET IMPACTDARK POOLSCUSTODYPRIME BROKERAGELATENCYSETTLEMENT RISKMARKET IMPACTDARK POOLSCUSTODYPRIME BROKERAGELATENCYSETTLEMENT RISK
ICEBERG ORDERSSPREAD CAPTUREMAKER / TAKERCROSS-VENUEARRIVAL PRICEBLOCK TRADESICEBERG ORDERSSPREAD CAPTUREMAKER / TAKERCROSS-VENUEARRIVAL PRICEBLOCK TRADES
ICEBERG ORDERSSPREAD CAPTUREMAKER / TAKERCROSS-VENUEARRIVAL PRICEBLOCK TRADESICEBERG ORDERSSPREAD CAPTUREMAKER / TAKERCROSS-VENUEARRIVAL PRICEBLOCK TRADES
SETTLEMENTCONTANGOORDER BOOK DEPTHBEST EXECUTIONCARRYPRICE DISCOVERYSETTLEMENTCONTANGOORDER BOOK DEPTHBEST EXECUTIONCARRYPRICE DISCOVERY
SETTLEMENTCONTANGOORDER BOOK DEPTHBEST EXECUTIONCARRYPRICE DISCOVERYSETTLEMENTCONTANGOORDER BOOK DEPTHBEST EXECUTIONCARRYPRICE DISCOVERY

CoinRoutes Academy

Institutional guides to crypto market structure, execution and derivatives.

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All articles
01

CoinRoutes Guide

Get the most out of the platform — routing, algos, OMS/EMS, and TCA.

20 articles
02

Spot

Spot market structure: liquidity, maker/taker, and best execution.

13 articles
03

Derivatives

Perpetual swaps, futures, funding-rate arbitrage, and basis trading.

Coming soon
04

Institutional

Prime brokerage, custody, RFQ/OTC, and portfolio risk for desks.

11 articles
05

TradFi

Where traditional finance meets digital assets — equities, futures, RWAs.

4 articles
06

Algorithms

Execution algorithms: TWAP, VWAP, POV, and adaptive scheduling logic.

5 articles
07

Hedge Funds

Strategies, infrastructure, and execution workflows for crypto hedge funds.

3 articles
08

OTC

Over-the-counter trading: RFQ, block liquidity, and minimizing market impact.

Coming soon
09

Portfolio Management

Allocation, rebalancing, and risk management across digital-asset portfolios.

1 article
10

Basis Trading

Cash-and-carry, funding rates, and capturing spot-futures spreads.

Coming soon
Featured Guide

Smart Order Routing, From First Principles

How CoinRoutes evaluates price, depth, and fees across 60+ venues in real time to minimize market impact — and why anti-gaming logic matters for institutional size.

CoinRoutes Guide·14 min read
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Smart Order Routing, From First Principles
Latest

Articles & explainers

All33CoinRoutes Guide20Spot13DerivativesInstitutional11TradFi4Algorithms5Hedge Funds3OTCPortfolio Management1Basis Trading
CeFi vs. DeFi: Two Markets, One Order
CoinRoutes Guide

CeFi vs. DeFi: Two Markets, One Order

CoinRoutes Research TeamCoinRoutes Research Team·August 26, 2026
Slippage, and how execution algorithms reduce it?
CoinRoutes Guide

Slippage, and how execution algorithms reduce it?

CoinRoutes Research TeamCoinRoutes Research Team·August 17, 2026
What Is Liquidity Aggregation Across Crypto Venues?
CoinRoutes Guide

What Is Liquidity Aggregation Across Crypto Venues?

CoinRoutes Research TeamCoinRoutes Research Team·August 17, 2026
What is an Order and Execution Management System?
CoinRoutes Guide

What is an Order and Execution Management System?

CoinRoutes Research TeamCoinRoutes Research Team·August 12, 2026
What Is Smart Order Routing (SOR) in Crypto?
CoinRoutes GuideSpot

What Is Smart Order Routing (SOR) in Crypto?

C
CoinRoutes·June 18, 2026
What Is a Crypto Execution Management System (EMS)?
CoinRoutes GuideInstitutional

What Is a Crypto Execution Management System (EMS)?

C
CoinRoutes·June 17, 2026
EMS vs OEMS vs PMS in Crypto — Explained
CoinRoutes GuideInstitutional

EMS vs OEMS vs PMS in Crypto — Explained

C
CoinRoutes·June 16, 2026
What Is Transaction Cost Analysis (TCA) for Digital Assets?
CoinRoutes GuideSpot

What Is Transaction Cost Analysis (TCA) for Digital Assets?

C
CoinRoutes·June 15, 2026
What Is Best Execution in Crypto — and What Does MiCA Require?
SpotInstitutionalTradFi

What Is Best Execution in Crypto — and What Does MiCA Require?

C
CoinRoutes·June 14, 2026
What Is Slippage, and How Do Execution Algorithms Reduce It?
CoinRoutes GuideSpot

What Is Slippage, and How Do Execution Algorithms Reduce It?

C
CoinRoutes·June 13, 2026
What Is Market Impact, and How Do Institutions Minimize It?
SpotInstitutional

What Is Market Impact, and How Do Institutions Minimize It?

C
CoinRoutes·June 12, 2026
Crypto Execution Algorithms Explained: TWAP, VWAP, POV, Implementation Shortfall
CoinRoutes GuideSpot

Crypto Execution Algorithms Explained: TWAP, VWAP, POV, Implementation Shortfall

C
CoinRoutes·June 11, 2026
What Is a Consolidated Crypto Order Book / Consolidated Best Bid and Offer (CBBO)?
CoinRoutes GuideSpot

What Is a Consolidated Crypto Order Book / Consolidated Best Bid and Offer (CBBO)?

C
CoinRoutes·June 10, 2026
What Is Liquidity Aggregation Across Crypto Venues?
CoinRoutes GuideSpot

What Is Liquidity Aggregation Across Crypto Venues?

C
CoinRoutes·June 9, 2026
What Is a Crypto Prime Broker, and How Does Prime Brokerage Work?
InstitutionalTradFi

What Is a Crypto Prime Broker, and How Does Prime Brokerage Work?

C
CoinRoutes·June 8, 2026
Custody Models for Institutions: Who Controls the Keys, and Why It Matters
Institutional

Custody Models for Institutions: Who Controls the Keys, and Why It Matters

C
CoinRoutes·June 7, 2026
What Is an RFQ (Request for Quote) Workflow in Crypto OTC Trading?
SpotInstitutional

What Is an RFQ (Request for Quote) Workflow in Crypto OTC Trading?

C
CoinRoutes·June 6, 2026
CeFi vs DeFi Execution for Institutions — Tradeoffs Explained
SpotTradFi

CeFi vs DeFi Execution for Institutions — Tradeoffs Explained

C
CoinRoutes·June 5, 2026
What Is Portfolio and Risk Management Software for Digital Assets?
CoinRoutes GuideInstitutional

What Is Portfolio and Risk Management Software for Digital Assets?

C
CoinRoutes·June 4, 2026
How Institutions Measure Execution Quality (Benchmarks, Arrival Price, VWAP Slippage)
CoinRoutes GuideSpot

How Institutions Measure Execution Quality (Benchmarks, Arrival Price, VWAP Slippage)

C
CoinRoutes·June 3, 2026
What Is Algorithmic Trading for Crypto, and How Does It Differ from Equities/FX Algos?
CoinRoutes GuideSpot

What Is Algorithmic Trading for Crypto, and How Does It Differ from Equities/FX Algos?

C
CoinRoutes·June 2, 2026
Institutional Crypto Trading Glossary: 150+ Terms
CoinRoutes GuideInstitutional

Institutional Crypto Trading Glossary: 150+ Terms

C
CoinRoutes·June 1, 2026
Why CoinRoutes' TWAP Outperforms a Basic TWAP
Algorithms

Why CoinRoutes' TWAP Outperforms a Basic TWAP

C
CoinRoutes·May 31, 2026
POV vs TWAP: When Percent-of-Volume Beats a Time Schedule
Algorithms

POV vs TWAP: When Percent-of-Volume Beats a Time Schedule

C
CoinRoutes·May 30, 2026
TimePace vs TWAP: Working a Limit Price Without an End-Time
Algorithms

TimePace vs TWAP: Working a Limit Price Without an End-Time

C
CoinRoutes·May 29, 2026
Scheduled Post vs TWAP: Passive Execution Without Catch-Up Risk
Algorithms

Scheduled Post vs TWAP: Passive Execution Without Catch-Up Risk

C
CoinRoutes·May 28, 2026
TWAP Trading for the Buy Side
AlgorithmsHedge Funds

TWAP Trading for the Buy Side

C
CoinRoutes·May 27, 2026
How Crypto Prime Brokerage Works: Portfolio Margin & Off-Exchange Settlement
Hedge FundsInstitutional

How Crypto Prime Brokerage Works: Portfolio Margin & Off-Exchange Settlement

C
CoinRoutes·May 26, 2026
How to Evaluate a Crypto EMS: Build vs Buy and Vendor Selection
Hedge FundsCoinRoutes Guide

How to Evaluate a Crypto EMS: Build vs Buy and Vendor Selection

C
CoinRoutes·May 25, 2026
How Institutions Access Tokenized Stocks (xStocks)
TradFiSpot

How Institutions Access Tokenized Stocks (xStocks)

C
CoinRoutes·May 24, 2026
How to Improve Your Exchange Fee Tiers
CoinRoutes Guide

How to Improve Your Exchange Fee Tiers

C
CoinRoutes·May 23, 2026
Does CoinRoutes Have Pre-Trade Risk Controls?
CoinRoutes GuideInstitutional

Does CoinRoutes Have Pre-Trade Risk Controls?

C
CoinRoutes·May 22, 2026
Risk Controls vs Clarity (PMS): What You Need for What
Portfolio ManagementCoinRoutes Guide

Risk Controls vs Clarity (PMS): What You Need for What

C
CoinRoutes·May 21, 2026

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