{"pair":"btc/usd","exchanges":5,"summary":[{"exchange":"okx","spread_bps":0.0159,"tob_imbalance":0.5425,"depth_imbalance":0.5557},{"exchange":"binance","spread_bps":0.0159,"tob_imbalance":0.671,"depth_imbalance":0.7918},{"exchange":"bybit","spread_bps":0.0159,"tob_imbalance":-0.1529,"depth_imbalance":-0.1308},{"exchange":"deribit","spread_bps":0.0796,"tob_imbalance":-0.0497,"depth_imbalance":0.2771},{"exchange":"hyperliquid","spread_bps":0.1591,"tob_imbalance":-0.9897,"depth_imbalance":-0.7063}],"preview":true,"signed":false,"note":"Preview — spread and imbalance only, unsigned"}