Later market
Week 12 — Leftover asks gone
I wanted to know whether the old leftover cheap ask still showed up after I stopped trading. These are the counts. I am not using them as “a patch killed a proven edge.”
| Markets | 12,929 five-minute BTC/ETH/SOL markets, 26 June–10 July, fixed time-to-expiry checkpoints. |
|---|---|
| Full stream | 104.5 million BBO updates across about 29 days. |
| Stale-ask trigger | Winner ask ≤ $0.30 while the loser looked decided (bid ≤ 0.05): one hit. Apparent both-sides crosses lasted at most 0.02s. None lasted a second. |
| Missing | No order sizes in the early BBO recorder. August files gone when the VPS dropped. A hole, not a hidden win. |
The later book looked tight and two-sided at those checkpoints. That is a changed environment after April–May. It does not isolate CLOB V2, the 2 May guard removal, or other traders as the cause. Live trading had already stopped. This is a recording study.
In these files the leftover cheap ask was not a durable object. “The patch killed the edge” is still a guess.
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