Daily Microstructure Brief — Friday, 1 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-01 · Friday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ coinbase→cryptocom (BTC/USD) leads executability today, past coinbase→cryptocom (SOL/ETH). TOP ROUTES (by executability) 1. coinbase→cryptocom (BTC/USD) Median spread 0.014% · half-life 1817ms · survival @1s: 91.1% · executability 0.0% 2. coinbase→cryptocom (ETH/USD) Median spread 0.018% · half-life 1728ms · survival @1s: 86.7% · executability 0.0% 3. coinbase→okx (BTC/USD) Median spread 0.013% · half-life 1704ms · survival @500ms: 84.8% · executability 0.0% Cited data: 10344 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1408ms. Survival @ T+1s: 69.5% of 66524 samples. Spreads > 0.40% decayed to below fee floor within 0ms median (0 samples). No material deviation from 7-day decay baselines. BEST EXECUTION WINDOW 03:00-04:00 UTC (11:00-12:00 SGT) — 75.4% of samples survived to T+500ms above fee floor. 1.1x the 24h average. Second: 00:00-01:00 UTC — 70.2% survival. EXCHANGE BEHAVIOUR No exchange-level incidents recorded in 24h. VS YESTERDAY Samples: 66524 (-195677) Top route: coinbase→cryptocom (BTC/USD) median spread 0.014% Survival @1s: 69.5% (-410bps vs yesterday) Median spread: 0.013% (+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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━