quoted spread in basis points

Quoted bid-ask spread as basis points of the midpoint at the last valid quote before the minute closed, uncensored and unsmoothed. Comparable across symbols as a cost (5 bps costs the same fraction everywhere) but not as a state (5 bps is wide for BTC and tight for a small cap); spread_norm is the censored class-relative form.

Observed: read at the minute itself
Unit: bps
Valid range: 0 to 10000

Example: A recorded value of 10 bps can be used in the editable condition below.

Use in Research

Technical details

Field ID

feature.spread_bps

Valid query operators

at least, at most, between

Window operators: lowest, highest, average, latest or change in, over a trailing window.

Editable query preset

This preset is a starting point, not a recommendation. Edit it before running the search.

{
  "schema_version": "research_query.v2",
  "normalization_version": "archive_normalization.v1",
  "feature_version": "feature_defs.v1",
  "target": "record_occurrences",
  "where": {
    "all": [
      [
        "feature.spread_bps",
        "gte",
        10
      ],
      [
        "times.anchor_time",
        "gte",
        "2025-07-15T00:00:00.000Z"
      ]
    ]
  },
  "sort": [
    "times.anchor_time",
    "desc"
  ],
  "page": {
    "limit": 5,
    "cursor": null
  }
}

The search reports how often the record held this condition and what followed. It does not decide whether an idea works.

Read alongside

Order-book imbalance feature.book_imbalance
book capture regime feature.book_source
cost of buying 100k from the book feature.depth_cost_ask_100k_bps
cost of selling 100k into the book feature.depth_cost_bid_100k_bps
depth capture regime feature.depth_source
normalized spread feature.spread_norm