Headline now: 9 pairs on tape · widest right now: QQQ spot↔perp · RH-Lighter at 12.5bps (≈$12.46 per $10k, cost ≈1.1bps)

pairs watched: 9 · SPY spot↔perp · RH-Lighter: med 5.8bps · beyond-cost 0% · perp rich 100% of the time · QQQ spot↔perp · RH-Lighter: med 11.3bps · beyond-cost 37% · perp rich 100% of the time · 5 gaps closed, median 50 min · 2 never closed · TSLA spot↔perp · RH-Lighter: med 4.3bps · beyond-cost 0% · perp rich 99% of the time · PLTR spot↔perp · RH-Lighter: med 2.3bps · beyond-cost 0% · spot rich 54% 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.