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PRIMKT Index Methodology

This article provides comprehensive information on the calculation methodology for our PRIMKT (Principal Market Price) indexes. It offers a detailed explanation of how CoinAPI PRIMKT Indexes are calculated, which can be valuable for understanding the process and verifying index value accuracy.

Data Inputs​

Exchange Selection​

The index considers data from the following exchanges:

  • Binance
  • Bitstamp
  • Bitfinex
  • Bybit Spot
  • Coinbase
  • Deribit
  • Gemini
  • Kraken
  • KuCoin
  • OKEx
  • Upbit

Symbol Selection​

Only SPOT trading pairs from the selected exchanges are considered for index calculation.

Time Periods​

Two key time periods are used in the calculation:

  1. Activity Period: Ends at the index calculation time and spans the last 15 minutes.
  2. Lookup Period: Ends at the index calculation time and spans the last 60 minutes.

Calculation Methodology​

  1. Exchange Filtering: Exchanges without any trades in the Activity Period are excluded.

  2. Data Collection: For each eligible symbol, volume and last price data are collected from the remaining exchanges over the Lookup Period.

  3. Principal Market Determination: For each symbol, the exchange with the highest trading volume is designated as the principal market.

  4. Index Value Calculation: The index value for each symbol is set to the last traded price on its principal market during the Lookup Period.

Index Outputs​

Index Codes​

Index values are created with the following format: {IndexDefinitionCode}_{BaseAssetId}_{QuoteAssetId}

Components​

Each index includes the following component:

  • PRINCIPAL_MARKET_VOLUME_PERCENTAGE_{ExchangeIdBeingPrincipalMarket}: Represents the percentage of total volume from the principal market.

Note: Component data is only available for index values calculated within the last 7 days.

Frequency​

The index is calculated in real-time, providing up-to-date pricing information for supported digital assets.

Please note that for real-time scenarios, we highly encourage you to use our WebSocket Index API. This API provides continuous, low-latency updates, ensuring you receive the most up-to-date index values as they are calculated. For more information on how to connect and use the WebSocket API, please refer to our WebSocket Index API documentation.