Headline now: 9 pairs on tape · widest right now: LINK · Lighter-Mainnet ↔ Binance (spot) at 12.1bps (≈$12.10 per $10k, cost ≈4.6bps)

pairs watched: 9 · SPY spot↔perp · RH-Lighter: med 6.5bps · beyond-cost 3% · perp rich 100% of the time · QQQ spot↔perp · RH-Lighter: med 9.7bps · beyond-cost 30% · perp rich 100% of the time · 1 gap closed, median 150 min · TSLA spot↔perp · RH-Lighter: med 6.0bps · beyond-cost 1% · perp rich 94% of the time · PLTR spot↔perp · RH-Lighter: med 7.8bps · beyond-cost 0% · perp rich 79% of the time. Question: Same asset on two books, including spot vs its OWN perp on one venue, no bridging, do the prices disagree by more than it costs to cross both? Status on the floor: live. Source: research:liveStudies on blessed-cat-541.convex.cloud.