Daily Microstructure Brief — Saturday, 9 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-09 · Saturday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ coinbase→okx (DOT/USDT) set a seven-day high on executability. TOP ROUTES (by executability) 1. coinbase→okx (DOT/USDT) Median spread 0.749% · half-life 1987ms · survival @1s: 99.3% · executability 82.1% 2. coinbase→cryptocom (DOT/USDT) Median spread 0.709% · half-life 2000ms · survival @1s: 100.0% · executability 79.5% 3. coinbase→kraken (DOT/USDT) Median spread 0.633% · half-life 2000ms · survival @500ms: 100.0% · executability 44.0% Cited data: 322 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1565ms. Survival @ T+1s: 77.1% of 79432 samples. Spreads > 0.40% decayed to below fee floor within 2000ms median (566 samples). Decay profiles consistent with 7-day norms. BEST EXECUTION WINDOW 04:00-05:00 UTC (12:00-13:00 SGT) — 86.2% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 07:00-08:00 UTC — 79.5% survival. EXCHANGE BEHAVIOUR No exchange state transitions across the 24-hour window. VS YESTERDAY Samples: 79432 (-366815) Top route: coinbase→okx (DOT/USDT) median spread 0.749% Survival @1s: 77.1% (+590bps vs yesterday) Median spread: 0.03% (+19bps 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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━