Daily Microstructure Brief — Monday, 27 April 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-04-27 · Monday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Sample volume below norm — 151172 samples vs typical 304047. TOP ROUTES (by executability) 1. coinbase→cryptocom (BTC/USD) Median spread 0.011% · half-life 1917ms · survival @1s: 95.5% · executability 0.0% 2. coinbase→okx (BTC/USD) Median spread 0.009% · half-life 1844ms · survival @1s: 91.5% · executability 0.0% 3. okx→cryptocom (BTC/USDT) Median spread 0.008% · half-life 1841ms · survival @500ms: 91.7% · executability 0.0% Cited data: 26620 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1667ms. Survival @ T+1s: 82.6% of 151172 samples. Spreads > 0.40% decayed to below fee floor within 0ms median (0 samples). Decay profiles consistent with 7-day norms. BEST EXECUTION WINDOW 07:00-08:00 UTC (15:00-16:00 SGT) — 86.7% of samples survived to T+500ms above fee floor. at the 24h average. Second: 03:00-04:00 UTC — 86.7% survival. EXCHANGE BEHAVIOUR No exchange state transitions across the 24-hour window. VS YESTERDAY Samples: 151172 (-363165) Top route: coinbase→cryptocom (BTC/USD) median spread 0.011% Survival @1s: 82.6% (-360bps vs yesterday) Median spread: 0.009% (-2bps vs yesterday) CONSTRAINTS ON THIS DATA Spread persistence varies materially by route and hour of day. High-spread events (>0.40%) decay faster than the median. Results describe the prior 24h only — not predictive. ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Bot activity — not financial advice. Every signal blockchain-verified: proofsystems.ai/signals Full archive: proofsystems.ai/brief ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━