Daily Microstructure Brief — Friday, 8 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-08 · Friday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ New #1 route by executability: coinbase→okx (BTC/USD). okx→cryptocom (DOT/USDT) moved down. TOP ROUTES (by executability) 1. coinbase→okx (BTC/USD) Median spread 0.015% · half-life 1827ms · survival @1s: 91.1% · executability 0.0% 2. cryptocom→okx (BTC/USD) Median spread 0.01% · half-life 1627ms · survival @1s: 80.5% · executability 0.0% 3. coinbase→okx (ETH/USD) Median spread 0.018% · half-life 1782ms · survival @500ms: 89.1% · executability 0.0% Cited data: 71108 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1443ms. Survival @ T+1s: 71.2% of 446247 samples. Spreads > 0.40% decayed to below fee floor within 0ms median (0 samples). Decay profiles consistent with 7-day norms. BEST EXECUTION WINDOW 23:00-00:00 UTC (07:00-08:00 SGT) — 84.7% of samples survived to T+500ms above fee floor. 1.2x the 24h average. Second: 21:00-22:00 UTC — 79.5% survival. EXCHANGE BEHAVIOUR All exchanges stable — no degradation events in 24h. VS YESTERDAY Samples: 446247 (+300) Top route: coinbase→okx (BTC/USD) median spread 0.015% Survival @1s: 71.2% (+210bps vs yesterday) Median spread: 0.011% (+0bps 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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━