Daily Microstructure Brief — Thursday, 18 June 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-06-18 · Thursday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Top route rotation: cryptocom→okx (ADA/USD) displaced kraken→cryptocom (DOT/USDT) at #1. TOP ROUTES (by executability) 1. cryptocom→okx (ADA/USD) Median spread 0.013% · half-life 593ms · survival @1s: 26.1% · executability 1.5% 2. kraken→cryptocom (DOT/USDT) Median spread 0.045% · half-life 1217ms · survival @1s: 57.2% · executability 1.4% 3. cryptocom→okx (DOT/USDT) Median spread 0.018% · half-life 778ms · survival @500ms: 34.2% · executability 1.4% Cited data: 492 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1460ms. Survival @ T+1s: 71.4% of 576470 samples. Spreads > 0.40% decayed to below fee floor within 1639ms median (5 samples). Half-lives tracked 7-day baselines today. BEST EXECUTION WINDOW 21:00-22:00 UTC (05:00-06:00 SGT) — 78.9% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 23:00-00:00 UTC — 78.5% survival. EXCHANGE BEHAVIOUR No exchange-level incidents recorded in 24h. VS YESTERDAY Samples: 576470 (+80855) Top route: cryptocom→okx (ADA/USD) median spread 0.013% Survival @1s: 71.4% (-250bps vs yesterday) Median spread: 0.019% (+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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━