Daily Microstructure Brief — Monday, 11 May 2026

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ DAILY MICROSTRUCTURE BRIEF 2026-05-11 · Monday · covers prior 24h UTC · peak window 13:00-16:00 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ New #1 route by executability: coinbase→okx (BTC/USD). coinbase→okx (DOT/USDT) moved down. TOP ROUTES (by executability) 1. coinbase→okx (BTC/USD) Median spread 0.018% · half-life 1973ms · survival @1s: 98.6% · executability 0.0% 2. coinbase→cryptocom (BTC/USD) Median spread 0.012% · half-life 1944ms · survival @1s: 97.0% · executability 0.0% 3. coinbase→okx (ETH/USD) Median spread 0.019% · half-life 1927ms · survival @500ms: 96.1% · executability 0.0% Cited data: 39487 samples across 3 routes, prior 24h UTC. SPREAD DECAY Median half-life across all routes: 1663ms. Survival @ T+1s: 82.3% of 198076 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 07:00-08:00 UTC (15:00-16:00 SGT) — 86.2% of samples survived to T+500ms above fee floor. at the 24h average. Second: 06:00-07:00 UTC — 85.0% survival. EXCHANGE BEHAVIOUR No exchange state transitions across the 24-hour window. VS YESTERDAY Samples: 198076 (-435556) Top route: coinbase→okx (BTC/USD) median spread 0.018% Survival @1s: 82.3% (+130bps vs yesterday) Median spread: 0.011% (+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 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━