# CoinDCX Futures Live 1-Hour Benchmark Report (E-Ink Edition)

- **Pair:** `B-BTC_USDT`
- **Initial Budget:** `₹200,000.00 INR`
- **Total Portfolio Equity (NAV):** `₹199,996.18 INR` (`-0.002%`)
- **Realized P&L:** `₹0.00 INR` | **Total Fees Incurred:** `₹9.02 INR`
- **Session Progress:** 17.2% (621s elapsed / 2979s remaining)

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## AI Quant Desk Verdict (DeepSeek V4.1 Flash)
*Generated at: 08:30:37 UTC*

- **Liquidity & Spread Verdict:** Top-of-book spread 0.01 bps (avg 0.012) is exceptionally tight; liquidity is not the constraint for ₹200k 1x clips. Adverse fill slippage 0.931 bps is small but real.
- **Adverse Slippage & Latency Impact:** REST 286.9 ms / WS 146.4 ms is slow for BTC perp; signal-gated maker orders face stale-quote/toxic-fill risk. Maker all-in round-trip ≈ 5.6–6.6 bps; taker ≈ 12.7–13.7 bps including adverse slippage.
- **Quant Recommendation:** Maker-first is feasible only if net alpha clears ~7–8 bps/round-trip; taker is uneconomic unless edge >14 bps. Current NAV +₹7.42 is noise. Do not scale; require latency <100 ms or proven maker edge >8 bps.

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## 1. Latency & Delay Measurements

| Metric | Measured Value | Standard / Target |
| :--- | :---: | :--- |
| **REST API Round-Trip** | **274.2 ms** (P95: 1586.7 ms) | Authenticated HMAC query |
| **WebSocket Market Delay** | **143.5 ms** (P95: 239.0 ms) | Exchange trade ts vs Server arrival |

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## 2. Spread & Adverse Slippage Profile

| Metric | Measured Value | Note |
| :--- | :---: | :--- |
| **Current Spread** | **0.01 bps** | Top of book |
| **Session Avg Spread** | **0.012 bps** | Rolling average over session |
| **Max Observed Spread** | **0.49 bps** | Peak spread |
| **Avg Adverse Slippage** | **0.931 bps** | Adverse-positive walked depth |
| **Max Adverse Slippage** | **0.931 bps** | Worst recorded fill penalty |

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## 3. Recent Executions (Last 10 Fills)

| Time | Action | Side | Fill Price | Slippage | Spread | Latency | Fee (INR) | P&L (INR) |
| :--- | :---: | :---: | :---: | :---: | :---: | :---: | :---: | :---: |
| 2026-10-02 08:20:27 | OPEN | **SELL** | $86415.6 | 0.931 bps | 0.012 bps | 0ms | ₹9.02 | ₹0.0 |