Headline now: 9 pairs on tape · widest right now: COIN spot↔perp · RH-Lighter at 11.8bps (≈$11.80 per $10k, cost ≈14.7bps) · US market closed

pairs watched: 9 · SPY spot↔perp · RH-Lighter: med 5.9bps · beyond-cost 0% · perp rich 98% of the time · QQQ spot↔perp · RH-Lighter: med 8.4bps · beyond-cost 24% · perp rich 84% of the time · 3 gaps closed, median 140 min · TSLA spot↔perp · RH-Lighter: med 6.1bps · beyond-cost 0% · perp rich 87% of the time · PLTR spot↔perp · RH-Lighter: med 8.5bps · 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.