index · Nasdaq

NDX · Nasdaq-100 Index

Equity index. An index perpetual is cash-settled exposure to the index methodology, not a basket of shares held for the user.

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Snapshot session: after-hours transitionNo scenario earnings date

Demonstration · Snapshot 25 Sep 2026, 20:00 UTC · Not a live feed, venue quotation, or verified term.

Cross-venue dispersion · Screen this name · Calendar

Reference anchor

20,440.00 pts

EPIC aggregate mark

20,470.46 pts

Equal-weight of venue marks. Not a tradable price.

Aggregate basis

0.15%

Median funding

0.0031%

Tracked 24h notional

356.07m USD

Tracked open interest

136.11m USD

Active venues in the book

Reference confidence

68Limited reference quality

Illustrative path

Pinned to the snapshot. Not a historical tape. Session shading is described on AfterClose rather than drawn as a false time axis.

Venue comparison

Venue	Symbol	Mark	Reference	Basis	Funding	Next funding	Interval	Leverage	Collateral	Settlement	Spread	Volume	Open interest	Confidence	Policy	Verified
Northline	NL-NDX-PERP	20,482.15 pts	20,440.00 pts	0.21%	-0.0067%Shorts pay longs	26 Sep 2026 00:00 UTC	8h	20×	USDC	USDC	2.6 bps	175.34m	42.32m	66Limited reference quality	Disclosed	Unverified
Aperture	A.NDX	20,458.77 pts	20,440.00 pts	0.09%	0.0031%Longs pay shorts	26 Sep 2026 00:00 UTC	4h	5×	USD	USD	5.9 bps	180.73m	93.79m	70Tradable reference, moderate caution	Disclosed	Unverified

Funding

Northline-0.0067%Shorts pay longs
Aperture0.0031%Longs pay shorts

Basis

A basis gap is not automatically an arbitrage. Fees, funding, spread, slippage, collateral and access still apply.

Northline0.21%
Aperture0.09%

Liquidity

Northline

Spread 2.6 bps · depth 10 bps 937.72k · 25 bps 2.5m

Volume / open interest 4.14. Illustrative book, not a live ladder.

Aperture

Spread 5.9 bps · depth 10 bps 483.04k · 25 bps 1.37m

Volume / open interest 1.93. Illustrative book, not a live ladder.

Specification differences

Northline calls the mark “fair price” and the interval “eight-hour funding window”. Normalised: mark price, 8h funding, isolated or cross margin.
Aperture calls the mark “reference mark” and the interval “4-hour cycle”. Normalised: mark price, 4h funding, cross margin.

After the cash close

The snapshot was taken at 20:00 UTC on 25 Sep 2026, the US cash close. Marks in the book are not updated when the live session clock changes.

Open AfterClose

Risk disclosure status

Northline

1 categories not disclosed in the sample file. None of these venues is labelled safe.

Venue profile

Aperture

1 categories not disclosed in the sample file. None of these venues is labelled safe.

Venue profile

Corporate-action scenarios

No scenario is loaded for this name.

Eligibility

EPIC does not determine legal eligibility. Open the explorer for the sample access phrases.

Eligibility explorer

Why the median score is 68

Component contributions use the weights shown. This is anchor quality, not a valuation.

Primary cash-market status20%22
Reference-source freshness15%70
Independent source count10%85
Order-book depth10%94
Spread quality10%95
Mark versus last trade10%66
Related-instrument agreement10%69
Volatility regime5%44
Event-risk flag5%86
Price-band or stale-index condition5%74

The breakdown above is the first venue in the table, not a blended score.

Sources

Source type: EPIC demonstration dataset. Captured with the snapshot. Not an official API.

Score methodology

How to read a contract specification