{"pair":"eth/usd","exchanges":5,"summary":[{"exchange":"binance","spread_bps":0.0421,"tob_imbalance":-0.3173,"depth_imbalance":-0.3892},{"exchange":"bybit","spread_bps":0.0421,"tob_imbalance":0.9111,"depth_imbalance":0.4563},{"exchange":"okx","spread_bps":0.0421,"tob_imbalance":-0.8379,"depth_imbalance":-0.8069},{"exchange":"deribit","spread_bps":0.4212,"tob_imbalance":-0.3306,"depth_imbalance":-0.4218},{"exchange":"hyperliquid","spread_bps":0.4212,"tob_imbalance":-0.9914,"depth_imbalance":-0.149}],"preview":true,"signed":false,"note":"Preview — spread and imbalance only, unsigned"}