SPREAD / SIGNAL INTELLIGENCEOBSERVATION FIELD — 001MODEL VIEW / ILLUSTRATIVE INPUTS

SPREAD PROTOCOL $SPREAD

CONTRACT / PRE-LAUNCH

53 STOCK NODES
INTERACTIVE PRICE FIELD

SPREAD PROTOCOL RESEARCH UNIT
REFERENCE EQUITY ↔ ONCHAIN VENUE

OBSERVATION REGISTER

INSTRUMENT: NVDA
QUOTE BASIS: USD / 1:1
INPUT MODE: SAMPLE
HEDGE STATE: UNVERIFIED
EXECUTION: DISABLED

[ EQUITY ARBITRAGE RESEARCH ]

FIND PRICE
GAPS WORTH
TRADING.

Compare stock-linked prices across markets. See what remains after fees, slippage and funding—before you commit to a trade.

LESS GUESSWORK. A CLEARER VIEW OF THE GAP.

Test a price gap

DRAG TO ORBIT · SCROLL / PINCH TO ZOOM · SELECT A SQUAREDEPTH 00%

SYNTHETIC BASIS TOPOLOGY / CONTINUOUS OBSERVATION

FIG.01 / PRICE DISLOCATION SURFACE LOCAL MODEL

ONE UNDERLYING.
MULTIPLE PRICE STATES.

GROSS BASIS / SAMPLE+31.8 bps

RESIDUAL / AFTER COSTS+18.2 bps

TEST THE OPPORTUNITY

01 / FIND THE DIVERGENCE

REFERENCE ONCHAIN ILLUSTRATIVE PATHS

02 / FILTER THE COST13.6 BPS

COST THRESHOLD / SPREAD SAMPLESSYNTHETIC FIELD

03 / CHECK THE OTHER SIDE

HEDGE: ASSUMED AVAILABLEMODEL ASSUMPTION

01 / OPERATIONAL METHODINGEST → NORMALIZE → QUALIFYFILE / SPREAD–001

A gap in price.
A reason to
look closer.

For traders comparing stock-linked markets, a higher price on another venue can look like an opportunity. Trading costs can wipe it out.

Spread Protocol helps you separate the two. Compare quotes in one place, calculate the spread after estimated costs, and identify what still needs checking before either side can be traded.

Put a price gap through the model

THE BENEFIT / IN ONE EXAMPLEILLUSTRATIVE USD QUOTES

REFERENCE MARKET / ASK$100.00Cost to buy the reference exposure

ONCHAIN MARKET / BID$100.80Quoted bid for comparable exposure

Quoted price gap$0.80

Estimated total costs$0.30

Remaining spread$0.50

The useful number is the $0.50 left after costs. If costs rise to $0.90, the same $0.80 gap becomes a negative candidate. That is what Spread Protocol helps you see before you trade.

PER UNIT OF COMPARABLE EXPOSURE. ESTIMATED SPREAD, NOT REALIZED PROFIT. LIQUIDITY AND INSTRUMENT RIGHTS STILL NEED CHECKING.

QUOTE NORMALIZATION

Compare in one place.

Bring stock-linked quotes into the same view. Match the underlying, currency, token ratio and quote time before deciding whether a gap matters.

ASSET ID × FX × TIME

FRICTION MODEL

Reject costly gaps.

See how fees, slippage and funding shrink the apparent opportunity. Focus your research on candidates that retain a spread after estimated costs.

BID / ASK × COST × DEPTH

HEDGE CONSTRAINTS

Know what to verify.

A positive number is a starting point. Check liquidity, market hours, borrow and instrument rights to understand whether both sides can actually be traded.

INVENTORY × FUNDING × RISK

02 / RESEARCH TERMINALLOCAL COMPUTATIONILLUSTRATIVE INPUTS

[ BASIS DECOMPOSITION / V.001 ]

Does the gap
survive the costs?

Start with a sample or enter your own quotes.
Change the costs. See what is left.

01 / INSTRUMENT

53 STOCK / ETF SYMBOLS + WORKED EXAMPLE

REFERENCE ASK / USDONCHAIN BID / USD

Trading fees both legs, round trip7.2 bpsSlippage combined allowance4.8 bpsCarry / funding modeled holding period1.6 bps

Assume offsetting liquidity is availableScenario assumption, not a venue check

02 / RESIDUAL BASISCANDIDATE

+18.2bpsAFTER MODELED COSTS

Approximately $0.33 remaining per unit of exposure.

GROSS BASIS ALLOCATION31.8 bps

NETFEES / SLIPPAGE / CARRY

Price gap before costs: +31.8 bps
Estimated trading costs: −13.6 bps
Offsetting liquidity: ASSUMED AVAILABLE
Spread after costs: +18.2 bps

Positive residual basis under these assumptions. Instrument equivalence and execution still require validation.

>_MODEL READY. ADJUST INPUTS OR RUN ANALYSIS.

Δ_net = ((P_bid,B − P_ask,A) / P_ask,A) × 10,000 − C_fees − C_slip − C_carry

MODEL SCOPE & ASSUMPTIONS

This terminal calculates a directional basis from illustrative quotes and your cost assumptions. It assumes USD pricing, one unit of comparable equity exposure, aligned timestamps, and a long-reference / short-onchain candidate. Negative values do not automatically imply an executable trade in the reverse direction.

Instrument mapping, token-to-share ratios, FX, corporate actions, executable depth, quote freshness, borrow, and settlement require actual venue data. Tokenized instruments may differ in rights and redemption. The preview does not connect to venues, sign transactions, or execute orders. A positive output is a research candidate, not a realized return.

03 / THE CONVERGENCE DOSSIERMARKET MICROSTRUCTURESPREAD PROTOCOL / SPREAD

P_A≠P_B

FRAGMENTATION CREATES THE SIGNAL.

More markets.
More price gaps.
Less blind trading.

Spread Protocol is for traders who want to investigate differences between stock-linked prices without losing sight of the cost of trading them. The goal is to find candidates faster and discard misleading gaps earlier.

The technical thesis is convergence: study why related markets disagree and whether the difference can be traded. $SPREAD is the proposed community token around that research identity; its token economics remain to be defined.

Return to the engine

$SPREAD PROPOSED TICKERROBINHOOD CHAIN / TARGET ECOSYSTEMCONTRACT: NOT DEPLOYED

FIND PRICE
GAPS WORTH
TRADING.

NVDA

A gap in price.
A reason to
look closer.

Compare in one place.

Reject costly gaps.

Know what to verify.

Does the gap
survive the costs?

More markets.
More price gaps.
Less blind trading.

Get closer
to the spread.

Request preview complete.

FIND PRICEGAPS WORTHTRADING.

NVDA

A gap in price.A reason tolook closer.

Compare in one place.

Reject costly gaps.

Know what to verify.

Does the gapsurvive the costs?

More markets.More price gaps.Less blind trading.

FIND PRICE
GAPS WORTH
TRADING.

A gap in price.
A reason to
look closer.

Does the gap
survive the costs?

More markets.
More price gaps.
Less blind trading.