Fields
What each number is, and what it is not
The dictionary covers the demonstration book. A production feed would add source, version and reviewer status on every value. Those columns are not invented here.
Mark price
Quote currency or index points
The venue's price used for margin and usually for liquidation.
Not the last trade, and not EPIC's opinion of fair value.
Last trade
Same as mark
Latest matched price on that venue's book in the snapshot.
Not a live print. The demonstration does not stream trades.
Reference anchor
Same as mark
The fixed illustrative cash or index level EPIC uses for basis at the snapshot.
Not a consolidated tape and not an index-provider official close.
Basis
Price and percent of reference
Mark minus reference.
Not an arbitrage signal and not a risk-free spread.
Funding rate
Fraction per interval
Amount longs and shorts exchange each funding interval. Positive means longs pay shorts.
Not a dividend, not interest, and not a yield.
Predicted funding
Fraction per interval
A second figure only where the demonstration file includes one.
Not a forecast. Harbor is the only venue given a predicted print, and it is generated.
Simple annualisation
Fraction per 365-day year
Interval rate times the number of intervals in a 365-day year.
Not an expected cost and not a return.
Funding cap / floor
Fraction per interval
Illustrative bounds written into the sample specification.
Not a promise that a live rate would stay inside them.
Spread
Price and basis points
Ask minus bid at the snapshot.
Not a guarantee of the spread you would pay.
Depth at 10 / 25 bps
USD notional
Constructed size available inside those distances from the mark.
Not a live order-book sum and not a market-maker commitment.
Open interest
USD notional
Constructed open size in the demonstration file.
Not comparable across venues without reading each definition. These are not venue-reported.
24h notional
USD
Constructed traded notional over the snapshot window.
Not a print from a matching engine.
Reference confidence
0–100 or withheld
Anchor quality from published weights. Cash status is fixed at 22 because the snapshot is after the close.
Not a buy, sell, or safety score. Missing inputs withhold the score.
Initial margin
Fraction of notional
One divided by the sample maximum leverage.
Not the margin a venue would charge your account.
Maintenance margin
Fraction of notional
Half of initial margin in this sample.
Not a liquidation engine. The lab sketch is a textbook distance, not a bankruptcy price.
Multiplier
Contract units
Share-equivalents or index points per contract in the sample.
Not a claim you hold shares.
Collateral
Asset name
What the sample says must be posted.
Not custody and not a statement that the asset is safe.
Settlement
Asset name
How the sample pays variation margin. Always cash-settled here.
Not delivery of the underlying.
Trading status
Label
Trading, or suspended in the demonstration book.
Not a live halt feed from an exchange.
Corporate-action policy
Text
The sample clause, or an explicit not-disclosed line.
Not legal advice and not the issuer's announcement.
Eligibility phrase
One of five sentences
What the sample terms say about a country or client type.
Not a determination that you are eligible.
Constructed path
Time series ending at the snapshot
A deterministic walk whose last point is the snapshot mark, basis and funding.
Not historical market data and not a backtest.
Dispersion
Range across venues
How far the same ticker's marks and funding prints sit from each other in this book.
Not a signal to trade the widest pair.
Depth ladder
Eight price levels
A symmetric constructed book around the mark, sized from the snapshot depth fields.
Not a live order book and not executable.