Market Trades Markout Report - 2026-02-23

Date: 2026-02-23 | Generated 2026-02-25 04:43 UTC

Total Trades

96,113

Volume

$18,489,747

Unique Markets

365

Avg Trade Size

$192.38

Instant (vs BF)

+146.2 bps

Instant ($)

$+83,731

Matched Trades

28,226 (29%)

Cumulative PnL

Markout Curve

Overall Markout (vs BetfairFair)

Metric	Value (bps)	Value (USD)
Instant (vs BetfairFair)	+146.2	$+83,730.57
Markout 10s	+20.5	$+11,756.02
Markout 30s	+2.0	$+1,134.62
Markout 60s	-15.7	$-9,009.06
Markout 300s	+22.7	$+12,985.48
Markout 600s	+43.6	$+24,980.36
Total Return (Instant + Markout)
@ 10s	+166.7	$+95,486.59
@ 30s	+148.2	$+84,865.19
@ 60s	+130.5	$+74,721.51
@ 300s	+168.9	$+96,716.05
@ 600s	+189.8	$+108,710.94

By Game Phase

Phase	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
Pre-Game	11,886	3,800,963	0.512	+103.4	$+39,305.48	-6.4	-10.6	-16.2	-13.2	-34.7
In-Game	12,200	1,216,076	0.535	+287.2	$+34,924.16	-32.0	-106.1	-172.0	-0.7	+165.2
Unknown	4,140	710,437	0.696	+133.7	$+9,500.93	+254.4	+254.4	+254.4	+254.4	+254.4

By Strategy (Maker / Taker)

Classification: if aggressor bought above fair → we'd Maker Sell; bought below fair → we'd Taker Buy; aggressor sold below fair → we'd Maker Buy; sold above fair → we'd Taker Sell.
Edge and markout are from our perspective (positive = good for us).

Strategy	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
Maker Sell	18,283	3,650,901	0.547	+137.7	$+50,277.57	+983.6	+966.1	+943.4	+955.2	+1000.3
Taker Buy	6,651	1,697,120	0.533	+147.3	$+24,990.27	-1698.8	-1730.0	-1740.0	-1660.2	-1716.3
Maker Buy	2,741	330,084	0.559	+213.5	$+7,047.27	-1783.4	-1750.3	-1754.4	-1640.7	-1529.7
Taker Sell	551	49,373	0.730	+286.7	$+1,415.46	-33.4	-39.2	-45.1	+36.6	+311.6

By Price Bucket

Bucket	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
0-10c	898	6,812	0.051	+3741.9	$+2,549.12	+384.5	+85.1	-194.0	-677.3	-1145.2
10-20c	1,188	48,049	0.147	+812.3	$+3,902.91	-278.0	-336.8	-420.5	-1050.2	-1133.9
20-30c	2,613	356,500	0.258	+244.5	$+8,717.16	-29.0	-113.1	-305.3	-267.7	-288.1
30-40c	1,039	51,788	0.334	+357.0	$+1,848.97	+0.1	-15.5	+3.9	-906.8	-1542.0
40-50c	4,372	1,092,150	0.457	+90.9	$+9,926.54	-95.9	-104.0	-112.7	-115.0	-76.2
50-60c	7,299	2,343,617	0.531	+131.0	$+30,704.74	-25.8	-37.3	-46.2	-35.9	-26.1
60-70c	2,444	329,400	0.630	+130.7	$+4,304.87	-292.5	-286.1	-288.3	-282.2	-158.7
70-80c	4,446	855,201	0.754	+101.9	$+8,718.02	+118.1	+122.3	+108.5	+192.4	+244.1
80-90c	2,379	433,364	0.842	+202.7	$+8,783.98	+690.1	+605.3	+583.2	+1041.6	+1157.1
90-100c	1,548	210,596	0.956	+203.0	$+4,274.27	+0.7	-17.0	+99.1	+66.6	-90.3

By Side

Side	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
BUY	24,934	5,348,020	0.543	+140.7	$+75,267.84	+132.4	+110.5	+91.9	+125.2	+138.2
SELL	3,292	379,456	0.588	+223.0	$+8,462.73	-1555.7	-1527.7	-1532.0	-1422.5	-1290.1

By Sport

Sport	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
EPL	10,632	2,468,544	0.533	+121.7	$+30,035.32	-471.5	-494.6	-505.9	-452.7	-418.2
NBA	3,675	1,764,599	0.497	+93.4	$+16,480.39	-9.0	-13.4	-17.2	-4.4	-8.9
LAL	5,479	586,675	0.531	+289.8	$+17,000.05	+2550.4	+2482.8	+2477.2	+2619.5	+2441.6
SEA	3,825	508,338	0.582	+129.0	$+6,557.61	-280.9	-281.6	-281.9	-326.6	-234.0
TUR	3,633	315,201	0.624	+247.8	$+7,812.15	-180.4	-204.0	-386.1	-324.9	-46.6
ATP	765	58,555	0.583	+936.2	$+5,481.91	-91.2	+9.2	-91.1	-333.7	-118.4
UCL	168	16,127	0.646	+158.4	$+255.37	+381.1	+381.1	+380.6	+367.8	+367.1
CBB	36	8,133	0.567	+66.5	$+54.08	+2.5	+2.2	+2.2	+39.5	+25.0
WTA	10	1,301	0.783	+412.0	$+53.61	+6.2	+6.2	+6.2	+6.2	+6.2
Unknown	3	3	0.130	+261.3	$+0.08	+0.0	+0.0	+0.0	+0.0	+0.0

By League

League	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
EPL	10,632	2,468,544	0.533	+121.7	$+30,035.32	-471.5	-494.6	-505.9	-452.7	-418.2
NBA	3,675	1,764,599	0.497	+93.4	$+16,480.39	-9.0	-13.4	-17.2	-4.4	-8.9
LAL	5,479	586,675	0.531	+289.8	$+17,000.05	+2550.4	+2482.8	+2477.2	+2619.5	+2441.6
SEA	3,825	508,338	0.582	+129.0	$+6,557.61	-280.9	-281.6	-281.9	-326.6	-234.0
TUR	3,633	315,201	0.624	+247.8	$+7,812.15	-180.4	-204.0	-386.1	-324.9	-46.6
ATP	765	58,555	0.583	+936.2	$+5,481.91	-91.2	+9.2	-91.1	-333.7	-118.4
UCL	168	16,127	0.646	+158.4	$+255.37	+381.1	+381.1	+380.6	+367.8	+367.1
CBB	36	8,133	0.567	+66.5	$+54.08	+2.5	+2.2	+2.2	+39.5	+25.0
WTA	10	1,301	0.783	+412.0	$+53.61	+6.2	+6.2	+6.2	+6.2	+6.2
Unknown	3	3	0.130	+261.3	$+0.08	+0.0	+0.0	+0.0	+0.0	+0.0

By Hour of Day (UTC)

Hour	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
07:00	8	426	0.500	+49.5	$+2.11	+0.0	+0.0	+0.0	+0.0	+0.0
08:00	175	119,104	0.527	+140.9	$+1,678.47	-63.8	-63.8	-63.8	-87.2	-58.0
09:00	193	27,606	0.587	+123.9	$+342.03	+143.4	+143.4	+143.3	+143.3	+149.1
10:00	216	11,276	0.629	+91.0	$+102.66	+4931.9	+4932.1	+4931.6	+4929.1	+4929.0
11:00	186	14,635	0.589	+108.7	$+159.14	+11.7	+11.8	+9.4	+8.4	+10.8
12:00	327	78,829	0.545	+55.4	$+436.44	+15.2	+16.0	+9.5	-2.1	+2.7
13:00	339	42,561	0.624	+176.8	$+752.52	+59.2	+59.2	+5.2	+4.2	+3.8
14:00	508	82,929	0.615	+97.3	$+807.09	+99.8	+99.9	+100.4	+98.6	+81.3
15:00	613	60,896	0.629	+386.3	$+2,352.65	+60.0	+60.8	+59.2	+47.5	+45.2
16:00	725	128,703	0.632	+169.6	$+2,182.25	+325.6	+323.9	+323.3	+302.2	+347.0
17:00	2,598	343,145	0.606	+129.1	$+4,429.78	+59.0	+59.7	+52.4	+90.3	+271.6
18:00	3,156	677,327	0.530	+100.6	$+6,812.57	-1104.0	-1106.6	-1119.8	-1126.6	-1134.6
19:00	4,329	1,277,505	0.491	+122.6	$+15,665.87	+489.5	+477.2	+431.0	+445.8	+439.4
20:00	4,278	410,448	0.510	+242.5	$+9,954.26	+666.0	+624.1	+609.2	+589.9	+658.0
21:00	6,050	617,176	0.595	+321.4	$+19,838.38	-241.8	-354.9	-373.4	-50.6	+2.0
22:00	1,121	144,502	0.571	+140.9	$+2,035.52	+14.5	+46.6	-6.2	-101.0	-54.0
23:00	3,404	1,690,407	0.496	+95.7	$+16,178.85	-9.6	-13.4	-15.1	-1.8	-4.3

Top Markets (by Volume)

Market	Trades	Volume ($)	Avg Price	Instant (bps)	Instant ($)	MO 10s (bps)	MO 30s (bps)	MO 60s (bps)	MO 300s (bps)	MO 600s (bps)
Everton FC vs. Manchester United FC — Will Manchester Uni...	4,508	939,996	0.572	+163.4	$+15,363.07	+14.5	-41.2	-47.9	+83.7	+176.1
Everton FC vs. Manchester United FC — Will Manchester Uni...	1,658	626,497	0.510	+94.9	$+5,944.51	-14.3	-17.6	-39.3	-40.8	-56.8
Kings vs. Grizzlies — Kings vs. Grizzlies [812378]	658	582,011	0.572	+148.0	$+8,615.58	-26.8	-31.3	-34.6	+13.5	+8.7
Spurs vs. Pistons — Spurs vs. Pistons [109388]	1,016	507,596	0.529	+65.2	$+3,310.16	+4.3	+1.3	-2.7	-0.6	-0.5
Everton FC vs. Manchester United FC — Will Everton FC win...	1,164	388,068	0.801	+37.7	$+1,463.22	-3005.1	-3005.1	-3005.1	-3005.1	-3005.1
Spurs vs. Pistons — Spurs vs. Pistons [062660]	389	385,568	0.479	+44.6	$+1,720.91	-0.5	-7.6	-8.3	-12.8	-13.4
Deportivo Alavés vs. Girona FC — Will Girona FC win on 20...	1,899	260,365	0.726	+230.2	$+5,994.31	+5886.2	+5886.2	+5886.2	+5886.2	+5886.2
Kings vs. Grizzlies — Kings vs. Grizzlies [734263]	1,218	252,126	0.431	+69.4	$+1,750.16	-6.4	-9.6	-19.9	-37.7	-57.8
Fenerbahçe SK vs. Kasımpaşa SK — Will Fenerbahçe SK win o...	2,462	248,567	0.680	+99.7	$+2,478.03	+1.9	+9.3	+5.8	+47.7	+130.6
ACF Fiorentina vs. Pisa SC — Will ACF Fiorentina win on 2...	1,162	195,449	0.656	+84.8	$+1,657.32	-9.9	-11.3	-16.6	-30.4	+76.2
Deportivo Alavés vs. Girona FC — Will Girona FC win on 20...	2,021	182,675	0.353	+339.8	$+6,207.87	-63.0	-226.1	-233.9	+132.4	-338.4
Everton FC vs. Manchester United FC - More Markets — Ever...	656	182,165	0.448	+120.9	$+2,202.61	+0.6	+6.2	-7.8	-2.0	-2.1
Everton FC vs. Manchester United FC — Will Everton FC win...	794	143,085	0.219	+116.4	$+1,665.17	-8.2	-30.9	-23.1	-25.2	-64.2
Bologna FC 1909 vs. Udinese Calcio — Will Bologna FC 1909...	785	126,803	0.618	+106.1	$+1,344.93	-37.5	-22.3	-12.5	-229.1	-240.7
Deportivo Alavés vs. Girona FC — Will Deportivo Alavés vs...	628	85,569	0.599	+381.6	$+3,265.35	-276.6	-296.7	-277.3	-40.8	-82.1
ACF Fiorentina vs. Pisa SC - More Markets — ACF Fiorentin...	460	83,021	0.559	+158.3	$+1,314.47	+12.3	-9.8	-20.4	+84.0	+436.7
Everton FC vs. Manchester United FC - More Markets — Ever...	430	68,360	0.655	+193.0	$+1,319.32	-28.4	-40.4	-60.2	-42.2	+66.3
Everton FC vs. Manchester United FC — Will Everton FC vs....	751	67,482	0.249	+176.3	$+1,189.97	+9.4	+15.6	+32.8	+92.3	+144.2
Bologna FC 1909 vs. Udinese Calcio — Will Udinese Calcio ...	391	49,046	0.850	+50.1	$+245.53	-2.7	-0.6	-4.2	-11.8	-31.7
Deportivo Alavés vs. Girona FC — Will Deportivo Alavés vs...	485	37,365	0.591	+309.7	$+1,157.34	-9.2	-210.7	-297.5	-739.6	-1160.1
Chile Open: Francisco Comesana vs Pedro Martinez — Chile ...	516	35,109	0.573	+337.7	$+1,185.68	-147.2	+17.4	-83.7	-486.0	-177.6
Fenerbahçe SK vs. Kasımpaşa SK — Will Fenerbahçe SK win o...	624	31,339	0.565	+331.8	$+1,039.85	-1520.1	-1520.1	-1520.1	-1520.1	-1520.1
Bologna FC 1909 vs. Udinese Calcio — Will Bologna FC 1909...	453	30,665	0.482	+327.3	$+1,003.54	-4500.0	-4500.0	-4500.0	-4500.0	-4500.0
Everton FC vs. Manchester United FC - More Markets — Ever...	190	27,506	0.690	+116.9	$+321.45	+5.8	+5.2	-15.6	-33.2	+4.0
Fenerbahçe SK vs. Kasımpaşa SK — Will Fenerbahçe SK vs. K...	264	22,256	0.469	+1753.1	$+3,901.68	-431.7	-845.8	-3360.0	-2940.4	+61.3
Jazz vs. Rockets — Jazz vs. Rockets [509354]	193	21,395	0.140	+466.9	$+998.89	-30.9	-30.9	-30.6	-25.8	-23.9
Everton FC vs. Manchester United FC - More Markets — Ever...	278	19,287	0.448	+264.0	$+509.22	-13.9	-4.3	-296.8	-246.0	-122.8
Jazz vs. Rockets — Jazz vs. Rockets [027007]	201	15,903	0.870	+53.2	$+84.68	-1.8	-2.4	-2.5	-16.3	-18.3
Chile Open: Matias Soto vs Tomas Etcheverry — Chile Open:...	136	14,120	0.668	+2831.5	$+3,998.08	-3.2	-1.7	-164.9	-168.3	-40.0
Deportivo Alavés vs. Girona FC — Will Deportivo Alavés wi...	444	12,718	0.348	+272.7	$+346.87	-63.0	-111.8	-129.7	+880.8	+947.5

Trade data from market_trades (all market trades from trade-recorder).
Instant and markout computed on trades matched to a poly_fair_update snapshot (ASOF JOIN, f0.PolyFair > 0). Only trades on symbols with BetfairFair values are matched.
side='BUY': Instant = Fair - Price, side='SELL': Instant = Price - Fair (positive = good for taker).
Markout = fair value change in trade direction after execution (positive = informed flow).
Strategy: Aggressor BUY above fair → Maker Sell, BUY below fair → Taker Buy, SELL below fair → Maker Buy, SELL above fair → Taker Sell. Strategy edge/markout is from our hypothetical perspective.