Headline now: 9 pairs on tape · widest right now: COIN spot↔perp · RH-Lighter at 12.5bps (≈$12.45 per $10k, cost ≈8.8bps) · US market closed

pairs watched: 9 · SPY spot↔perp · RH-Lighter: med 2.3bps · beyond-cost 0% · spot rich 92% of the time · 2 never closed · QQQ spot↔perp · RH-Lighter: med 7.3bps · beyond-cost 2% · perp rich 100% of the time · 1 gap closed, median 140 min · 1 never closed · TSLA spot↔perp · RH-Lighter: med 12.7bps · beyond-cost 60% · perp rich 100% of the time · 3 gaps closed, median 105 min · 5 never closed · PLTR spot↔perp · RH-Lighter: med 4.6bps · beyond-cost 10% · perp rich 70% of the time · 7 gaps closed, median 115 min. 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.