Spread refers to the price difference or gap between the buy and sell orders for a particular asset. It represents the discrepancy between the highest bid price (buy order) and the lowest ask price (sell order).

The spread indicates the liquidity and market depth for a specific asset. A narrower spread typically suggests a more liquid market with tighter bid-ask spreads, while a wider spread may indicate lower liquidity and potential price volatility.

Traders often consider the spread when making trading decisions as it directly impacts the cost of buying or selling assets.