TradFi Markets
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.
Supported asset classes
Paradex currently supports commodities markets. More TradFi asset classes will be introduced soon.
Market hours
Commodities markets are 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.
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.
Industrial Metals & Energy Commodities Pricing
From Pyth, the price of the active front future is tracked. 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.
The rolling weight is a continuous linear function of time, with the transition starting and ending at 00:00 EST for CL/NG and 00:00 UTC for BZ.