TradFi Price Oracle
The Spot Oracle Price for TradFi markets is calculated as a weighted median of prices from different sources. The weight assigned to each source is proportional to its score relative to the total score of all available feeds.
Paradex currently supports commodities and equities markets.
Market hours
- Commodities: Open 23/5, from Sunday 6:00 PM ET to Friday 5:00 PM ET, with a daily maintenance break from 5:00 PM to 6:00 PM ET.
- Equities (single stocks): Open 24/5, from Sunday 8:00 PM ET to Friday 8:00 PM ET. This includes pre-market, regular, post-market, and overnight sessions.
- Equity indices (US500, US100): Open 23/5, from Sunday 6:00 PM ET to Friday 5:00 PM ET, with a daily maintenance break from 5:00 PM to 6:00 PM ET. Follows CME equity index futures holiday closures.
Source scores
Source scores determine their contribution to the weighted median.
The price consumed from external exchanges (Binance, Bybit, Hyperliquid, OKX, Lighter) is the index price of the TradFi perpetual.
Closing Price and Internal Price definitions
- Closing Price is equal to the oracle price at the market closing time.
- Internal Price is the EMA of the Mark Price with a 1-hour half-life. At the start of the closing period, the Internal Price is initialized to the Closing Price.
Source weights by market state
Open hours
Closing hours
During open hours, only sources available during open hours contribute to the weighted median.
Equity Indices Pricing
Equity index markets (US500 and US100) use a reduced source set: the only external sources are Pyth, Hyperliquid and Lighter, all available 24/7. Closing Price and Internal Price are added during closing hours. The same index prices the perpetuals and the US500 and US100 options, which settle at its 30-minute TWAP ending at expiry.
Open hours
Closing hours
Industrial Metals & Energy Commodities Pricing
The spot price for Industrial Metals & Energy Commodities tracks the price of the active front future. The active contract at the start of each month is defined by the following schedule:
The roll from the current active future to the next active future occurs between the 5th and 10th business day of the month. The price matches the current active future before the 5th business day, then fully transitions to the next active future by the start of the 10th business day.