Daily Microstructure Brief — Thursday, 14 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-14 · Thursday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ cryptocom→coinbase (SOL/USDT) held its spread longer than any route in the past seven days. TOP ROUTES (by executability) 1. cryptocom→kraken (DOT/USDT) Median spread 0.048% · half-life 1425ms · survival @1s: 68.5% · executability 0.8% 2. cryptocom→coinbase (SOL/USDT) Median spread 0.018% · half-life 567ms · survival @1s: 21.9% · executability 0.4% 3. cryptocom→kraken (SOL/USDT) Median spread 0.025% · half-life 1538ms · survival @500ms: 75.8% · executability 0.1% Cited data: 1642 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1563ms. Survival @ T+1s: 76.9% of 533850 samples. Spreads > 0.40% decayed to below fee floor within 929ms median (5 samples). Decay profiles consistent with 7-day norms. BEST EXECUTION WINDOW 20:00-21:00 UTC (04:00-05:00 SGT) — 81.8% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 23:00-00:00 UTC — 81.2% survival. EXCHANGE BEHAVIOUR All exchanges stable — no degradation events in 24h. VS YESTERDAY Samples: 533850 (+533838) Top route: cryptocom→kraken (DOT/USDT) median spread 0.048% Survival @1s: 76.9% (-2310bps vs yesterday) Median spread: 0.016% (+9bps 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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━