para:10Yrates · growth mode on · 20× max
Over 57 days of 20-level order-book snapshots, para:10Y quoted a median spread of 7.21 bps in US regular hours with $69k resting within 25 bps of mid. A $25k market order paid about 12.98 bps in regular hours and 17.40 bps on weekends, when depth within 25 bps fell to $42k. Taker fee is 0.90 bps with growth mode on; funding averaged -13.43% annualised over the last 30 days.
order book replay48 snapshots · 2026-10-08 11:01 → 16:45 UTC · 10Y.json
depth = USD resting within ±25 bps of mid · slip = $25k market order through the book, avg fill vs mid, buy/sell mean · med = this market's median in the snapshot's session
order book replay: no recent order book snapshots
by sessionNew York time · medians over 57 days
| session | snaps | spread | p90 | top | depth ±10 | depth ±25 | depth ±50 | $5k | $25k | $100k | $100k fills | $250k fills |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US regular 9:30–16:00 | 2,397 | 7.21 | 35.57 | $69k | 12.98 | 81.50 | 61% | 10% | ||||
| US extended 4–9:30, 16–20 | 3,494 | 7.66 | 43.03 | $58k | 16.22 | 72.28 | 55% | 9% | ||||
| Overnight 20–4 | 2,438 | 7.29 | 41.46 | $69k | 15.85 | 75.65 | 40% | 11% | ||||
| Weekend / holiday | 4,139 | 21.02 | 50.43 | $42k | 17.40 | 55.17 | 62% | 15% |
bps unless stated RTH 9:30–16:00 extended 4:00–9:30 and 16:00–20:00 overnight 20:00–4:00 on weekdays weekend runs Friday 20:00 to Monday 4:00 and includes NYSE holidays slip = mean of the buy and sell side of a market order walking the visible 20 levels fills = share of snapshots the size fits inside those levels "—" = not fillable in the median snapshot
slippage curve
hour of week
weekly · spread
weekly · depth ±25 bps
per round trip = 2 × median slippage + 2 × taker fee funding uses the 30-day mean hourly rate, annualised, charged for a position held all day slippage between tested sizes is interpolated on a log scale ignores maker rebates, impact that persists after your fill, and fee tiers
history5 market changes to para:10Y observed in the changelog · newest first
- 2026-08-12 13:52listedannounced → tradingtrading enabled, announced 2026-07-28 · OI cap $25M · 20× max · growth mode on · marginTableId 20 · szDecimals 1 · fundingMultiplier 0.6
- 2026-08-12 12:52margin table10 → 20marginTableId observed changing from 10 to 20
- 2026-08-12 12:52max leverage10× ↑ 20×maxLeverage observed changing from 10 to 20
- 2026-08-12 12:52OI cap— → $25.0MoiCap observed changing from unknown to $25M
- 2026-07-28 18:52announced— → announcedmarket announced, trading not enabled
Plus 3 funding-parameter changes on 2 days, not listed here: show them in the changelog.
observed = first collector snapshot showing the new value, UTC; the change happened between the previous snapshot and that one announced = the market appeared with trading disabled; listed = trading enabled; trading halt = off and back within 48 h, before → after = mark either side full changelog atom feed
12,468 snapshots · 2026-08-12 13:53 → 2026-10-08 16:15 UTC (57.1 days) · size decimals 1 · raw: /api/para/10Y.json · method and caveats: methodology