What should I pay attention to first when choosing an LP to avoid problems with order execution and protect myself from manipulation? I understand that the success of an exchange directly depends on the quality of liquidity - the higher the trading volume and the denser the order book, the better the user experience. Now I am studying various providers, and many have beautiful presentations, but it is unclear how to test the depth of the order book, the speed of order execution, slippage and API stability in practice. I am also concerned about the extent to which LPs can influence pricing within the platform and how to track potential fraud. I would like to receive recommendations on objective metrics for evaluating LPs and an understanding of how the mechanisms for protecting against market manipulation work.
