Daily Microstructure Brief — Saturday, 25 April 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-04-25 · Saturday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Detection volume ran hot: 689274 samples, median is 224115. TOP ROUTES (by executability) 1. coinbase→cryptocom (BTC/USD) Median spread 0.012% · half-life 1791ms · survival @1s: 89.5% · executability 0.0% 2. coinbase→okx (BTC/USD) Median spread 0.013% · half-life 1746ms · survival @1s: 86.8% · executability 0.0% 3. okx→cryptocom (DOGE/USD) Median spread 0.017% · half-life 1670ms · survival @500ms: 83.4% · executability 0.0% Cited data: 57258 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1563ms. Survival @ T+1s: 77.1% of 689274 samples. Spreads > 0.40% decayed to below fee floor within 93ms median (6 samples). No material deviation from 7-day decay baselines. BEST EXECUTION WINDOW 23:00-00:00 UTC (07:00-08:00 SGT) — 88.8% of samples survived to T+500ms above fee floor. 1.2x the 24h average. Second: 07:00-08:00 UTC — 82.8% survival. EXCHANGE BEHAVIOUR All exchanges stable — no degradation events in 24h. VS YESTERDAY Samples: 689274 (+225070) Top route: coinbase→cryptocom (BTC/USD) median spread 0.012% Survival @1s: 77.1% (+570bps vs yesterday) Median spread: 0.014% (+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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━