<p>To answer you:</p>

<blockquote>
  <p>Does Alice receive $10,010 even though her sell order was only for
  $10,000?</p>
</blockquote>

<p>No, Alice will receive $10,000 only</p>

<blockquote>
  <p>Does Bob only have to pay $10,000?</p>
</blockquote>

<p>Yes </p>

<blockquote>
  <p>Maybe they split it down the middle, Bob only has to pay $10,005 and
  Alice receives the same?</p>
</blockquote>

<p>No, that is not how an exchange works. The largest bid get's filled first. And the smallest sell order get's filled first. </p>

<blockquote>
  <p>Does the exchange just keep the difference? Is this how (in addition
  to the fees) exchanges profit?</p>
</blockquote>

<p>No, the exchange is only entitled to get fees for the transaction unless specified otherwise.</p>

CC BY-SA 3.0
2017-12-09T14:46:13.027Z
2017-12-09T14:46:13.027Z
remedcu
<p>Let's say Alice is selling 1 BTC for $10,000. Soon after Alice makes her sell order, Bob places a buy order for 1 BTC for $10,010. These two orders are compatible, since Alice would gladly take an extra $10.</p>

<p>My question is, what happens to that $10. </p>

<ul>
<li>Does Alice receive $10,010 even though her sell order was only for $10,000?</li>
<li>Does Bob only have to pay $10,000?</li>
<li>Maybe they split it down the middle, Bob only has to pay $10,005 and Alice receives the same?</li>
<li>Does the exchange just keep the difference? Is this how (in addition to the fees) exchanges profit?</li>
</ul>

CC BY-SA 3.0
2017-12-09T14:39:33.743Z
Short answer: Bob pays $10,000.
Nate Eldredge
<exchanges>
What happens to the difference in compatible buy and sell orders on bitcoin exchanges?
morsecoder
# What happens to the difference in compatible buy and sell orders on bitcoin exchanges?

(Asked by: username_0 on 2017-12-09)

Let's say Alice is selling 1 BTC for $10,000. Soon after Alice makes her sell order, Bob places a buy order for 1 BTC for $10,010. These two orders are compatible, since Alice would gladly take an extra $10.

My question is, what happens to that $10.

* Does Alice receive $10,010 even though her sell order was only for $10,000?
* Does Bob only have to pay $10,000?
* Maybe they split it down the middle, Bob only has to pay $10,005 and Alice receives the same?
* Does the exchange just keep the difference? Is this how (in addition to the fees) exchanges profit?

**Tags:** exchanges

> **Comments:**
> **username_1**: Short answer: Bob pays $10,000.  

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## 1 answers

### Answer by username_2 on 2017-12-09. Score: 1 | Accepted answer

To answer you:

> Does Alice receive $10,010 even though her sell order was only for
> $10,000?

No, Alice will receive $10,000 only

> Does Bob only have to pay $10,000?

Yes

> Maybe they split it down the middle, Bob only has to pay $10,005 and
> Alice receives the same?

No, that is not how an exchange works. The largest bid get's filled first. And the smallest sell order get's filled first.

> Does the exchange just keep the difference? Is this how (in addition
> to the fees) exchanges profit?

No, the exchange is only entitled to get fees for the transaction unless specified otherwise.


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