Daily Microstructure Brief — Saturday, 2 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-02 · Saturday · 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 0.013% · half-life 1784ms · survival @1s: 89.1% · executability 0.0% 2. coinbase→okx (BTC/USD) Median spread 0.018% · half-life 1780ms · survival @1s: 88.5% · executability 0.0% 3. okx→cryptocom (BTC/USDT) Median spread 0.009% · half-life 1676ms · survival @500ms: 83.5% · executability 0.0% Cited data: 64517 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1539ms. Survival @ T+1s: 76.0% of 439955 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 07:00-08:00 UTC (15:00-16:00 SGT) — 86.8% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 05:00-06:00 UTC — 86.1% survival. EXCHANGE BEHAVIOUR No exchange state transitions across the 24-hour window. VS YESTERDAY Samples: 439955 (+373431) Top route: coinbase→cryptocom (BTC/USD) median spread 0.013% Survival @1s: 76.0% (+650bps 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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━