Daily Microstructure Brief — Thursday, 30 April 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-04-30 · Thursday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Top route rotation: coinbase→cryptocom (BTC/USD) displaced coinbase→cryptocom (SOL/ETH) at #1. TOP ROUTES (by executability) 1. coinbase→cryptocom (BTC/USD) Median spread 0.012% · half-life 1756ms · survival @1s: 87.2% · executability 0.0% 2. coinbase→okx (BTC/USD) Median spread 0.013% · half-life 1764ms · survival @1s: 87.6% · executability 0.0% 3. coinbase→okx (ETH/USD) Median spread 0.017% · half-life 1720ms · survival @500ms: 85.6% · executability 0.0% Cited data: 40019 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1490ms. Survival @ T+1s: 73.6% of 262201 samples. Spreads > 0.40% decayed to below fee floor within 0ms median (0 samples). No material deviation from 7-day decay baselines. BEST EXECUTION WINDOW 02:00-03:00 UTC (10:00-11:00 SGT) — 79.7% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 00:00-01:00 UTC — 79.2% survival. EXCHANGE BEHAVIOUR No exchange-level incidents recorded in 24h. VS YESTERDAY Samples: 262201 (-198562) Top route: coinbase→cryptocom (BTC/USD) median spread 0.012% Survival @1s: 73.6% (-190bps vs yesterday) Median spread: 0.012% (+1bps 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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━