Market Trades Markout Report - 2026-02-25

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

Total Trades

38,401

Volume

$8,412,427

Unique Markets

289

Avg Trade Size

$219.07

Instant (vs BF)

+256.3 bps

Instant ($)

$+120,455

Matched Trades

21,039 (55%)

Cumulative PnL

Markout Curve

Overall Markout (vs BetfairFair)

Metric	Value (bps)	Value (USD)
Instant (vs BetfairFair)	+256.3	$+120,454.62
Markout 10s	+74.5	$+35,016.89
Markout 30s	+39.6	$+18,598.64
Markout 60s	+38.9	$+18,259.12
Markout 300s	+6.3	$+2,957.41
Markout 600s	-4.7	$-2,207.42
Total Return (Instant + Markout)
@ 10s	+330.8	$+155,471.51
@ 30s	+295.9	$+139,053.26
@ 60s	+295.1	$+138,713.75
@ 300s	+262.6	$+123,412.03
@ 600s	+251.6	$+118,247.20

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	4,121	1,891,264	0.542	+197.9	$+37,434.06	-13.1	-35.4	-36.8	-65.5	-87.6
In-Game	16,918	2,808,604	0.507	+295.6	$+83,020.57	+133.5	+90.1	+89.8	+54.6	+51.1

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	10,822	2,737,084	0.543	+270.6	$+74,060.22	-117.6	-151.3	-143.9	-210.5	-284.7
Taker Buy	6,634	1,446,944	0.474	+203.0	$+29,371.72	+257.3	+217.7	+201.5	+218.7	+296.9
Taker Sell	1,432	276,732	0.577	+203.3	$+5,626.10	-443.6	-470.1	-472.0	-664.6	-670.5
Maker Buy	2,151	239,109	0.447	+476.6	$+11,396.58	+1766.7	+1736.1	+1737.7	+1978.8	+2145.8

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	1,482	22,102	0.049	+3750.6	$+8,289.65	+24189.4	+24149.1	+24145.5	+24168.0	+24170.4
10-20c	1,629	122,403	0.146	+570.3	$+6,981.05	+1.9	-4.0	-67.3	+158.1	-8.9
20-30c	2,451	126,948	0.247	+648.8	$+8,236.60	-98.4	-133.6	-160.8	-302.3	-53.2
30-40c	3,306	715,652	0.334	+463.1	$+33,139.33	-63.0	-112.9	-91.2	-296.4	-341.2
40-50c	1,273	93,799	0.439	+514.2	$+4,823.26	+34.0	-93.9	-43.2	+77.7	+74.4
50-60c	1,174	228,745	0.546	+358.5	$+8,200.22	+18.5	+22.2	+4.1	+137.8	-56.3
60-70c	3,580	1,351,318	0.665	+147.2	$+19,890.11	-57.7	-116.3	-104.7	-163.5	-214.3
70-80c	2,281	416,397	0.749	+204.7	$+8,523.30	-37.7	-58.4	-67.9	-128.2	-141.9
80-90c	1,791	665,984	0.844	+168.5	$+11,220.57	-27.3	-60.5	-86.8	-61.5	+9.0
90-100c	2,072	956,519	0.961	+116.6	$+11,150.52	-23.8	-25.1	-27.7	+3.1	+46.2

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	17,456	4,184,028	0.517	+247.2	$+103,431.94	+12.1	-23.7	-24.4	-62.1	-83.6
SELL	3,583	515,840	0.499	+330.0	$+17,022.68	+580.9	+552.5	+552.2	+560.7	+634.9

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)
NBA	19,186	4,523,816	0.503	+257.0	$+116,273.89	+79.3	+43.7	+42.6	+7.9	-3.7
ATP	260	60,328	0.708	+188.5	$+1,137.22	+5.3	-4.3	-6.3	+117.7	+239.2
Tennis	709	54,260	0.607	+244.1	$+1,324.60	-91.5	-104.3	-55.1	-97.2	-176.6
WTA	185	25,177	0.658	+356.3	$+897.14	-41.5	-91.5	-132.5	-160.8	-232.5
UCL	349	21,191	0.573	+101.1	$+214.16	-7.1	-7.1	-7.1	-13.7	-10.5
Football	327	14,145	0.637	+419.5	$+593.42	-213.6	-239.3	-251.0	-276.9	-287.0
Unknown	23	951	0.548	+149.3	$+14.19	+71.9	+99.1	+81.4	+88.8	+85.8

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)
NBA	19,186	4,523,816	0.503	+257.0	$+116,273.89	+79.3	+43.7	+42.6	+7.9	-3.7
ATP	260	60,328	0.708	+188.5	$+1,137.22	+5.3	-4.3	-6.3	+117.7	+239.2
atp	604	46,451	0.602	+254.6	$+1,182.42	-98.6	-113.3	-59.6	-111.8	-207.0
WTA	185	25,177	0.658	+356.3	$+897.14	-41.5	-91.5	-132.5	-160.8	-232.5
UCL	349	21,191	0.573	+101.1	$+214.16	-7.1	-7.1	-7.1	-13.7	-10.5
wta	105	7,809	0.635	+182.1	$+142.18	-49.1	-50.9	-28.2	-10.5	+3.9
ucl	206	7,623	0.614	+102.5	$+78.13	-0.0	+0.1	-0.1	-0.1	-0.5
lib	46	4,928	0.831	+971.7	$+478.83	-629.5	-703.5	-718.3	-773.2	-812.1
arg	57	1,406	0.623	+245.7	$+34.55	+57.5	+57.4	-6.8	-73.7	-36.2
Unknown	23	951	0.548	+149.3	$+14.19	+71.9	+99.1	+81.4	+88.8	+85.8
bra	11	130	0.470	+107.1	$+1.39	+0.0	+0.0	+0.0	+0.0	+0.0
lal	1	52	0.580	+90.8	$+0.47	+0.0	+0.0	+0.0	-57.3	-57.3
epl	6	6	0.400	+74.5	$+0.04	+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)
00:00	3,874	1,013,839	0.467	+232.9	$+23,614.93	+92.6	+73.2	+43.9	+58.0	+144.9
01:00	4,288	583,640	0.464	+222.8	$+13,000.83	+342.9	+306.1	+363.4	+246.1	+243.8
02:00	5,698	1,302,763	0.557	+303.2	$+39,495.92	+144.2	+118.9	+106.6	+168.0	+125.3
03:00	5,473	1,602,369	0.519	+242.8	$+38,908.40	-73.7	-119.6	-116.4	-230.1	-272.1
04:00	1,706	197,257	0.583	+275.5	$+5,434.55	-69.7	-153.0	-133.5	-115.9	-194.7

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)
Timberwolves vs. Trail Blazers — Timberwolves vs. Trail B...	1,929	1,014,848	0.713	+152.1	$+15,436.71	-52.5	-97.1	-95.5	-144.7	-199.5
76ers vs. Pacers — 76ers vs. Pacers [998437]	1,152	532,431	0.841	+141.7	$+7,544.92	-8.2	-24.7	-37.5	-48.7	+72.4
Wizards vs. Hawks — Wizards vs. Hawks [409745]	812	492,814	0.916	+113.8	$+5,605.98	-26.1	-46.9	-40.2	+9.6	+34.5
Timberwolves vs. Trail Blazers — Timberwolves vs. Trail B...	1,063	437,702	0.299	+471.8	$+20,649.02	+34.1	+12.7	+2.6	+16.5	+20.6
Magic vs. Lakers — Magic vs. Lakers [085904]	956	416,777	0.738	+114.4	$+4,766.69	-31.8	-46.7	-7.7	-92.4	-135.6
Thunder vs. Raptors — Thunder vs. Raptors [023193]	1,151	331,307	0.785	+184.4	$+6,109.38	-47.6	-91.2	-140.9	-87.2	+16.9
Warriors vs. Pelicans — Warriors vs. Pelicans [179059]	2,618	280,951	0.312	+496.3	$+13,943.28	-219.5	-237.5	-203.6	-105.4	-138.1
Warriors vs. Pelicans — Warriors vs. Pelicans [415810]	966	187,499	0.696	+235.8	$+4,421.58	-76.6	-117.7	-200.0	-333.5	-456.7
Heat vs. Bucks — Heat vs. Bucks [429352]	1,765	178,581	0.433	+386.9	$+6,909.47	-118.8	-311.0	-188.2	-911.3	-724.4
76ers vs. Pacers — 76ers vs. Pacers [034546]	1,967	148,360	0.166	+866.1	$+12,850.00	+2652.4	+2641.1	+2537.7	+2504.1	+2479.3
Heat vs. Bucks — Heat vs. Bucks [253493]	1,399	133,645	0.650	+237.5	$+3,173.83	-106.8	-156.9	-106.6	+70.0	-367.4
Magic vs. Lakers — Magic vs. Lakers [876269]	740	123,851	0.275	+190.3	$+2,356.81	-44.8	-60.2	-29.9	-3.7	-201.7
Knicks vs. Cavaliers — Knicks vs. Cavaliers [638450]	610	122,171	0.888	+182.5	$+2,229.10	-58.5	-108.7	-140.4	-280.8	-354.6
Knicks vs. Cavaliers — Knicks vs. Cavaliers [485116]	961	72,922	0.269	+514.1	$+3,748.67	+162.1	+105.1	+48.3	+261.1	+349.2
Chile Open: Alejandro Tabilo vs Tomas Barrios — Chile Ope...	227	58,422	0.720	+185.0	$+1,080.85	+7.7	-3.0	-4.3	+95.7	+222.8
Wizards vs. Hawks — Wizards vs. Hawks [736982]	536	27,873	0.105	+692.6	$+1,930.42	+291.9	+319.0	+271.3	-15.5	-156.6
Mexican Open: Casper Ruud vs Yibing Wu — Mexican Open: Ca...	240	24,944	0.690	+247.6	$+617.65	-32.5	-8.6	+98.8	+111.1	+352.2
ATX Open: Anastasia Zakharova vs Mary Stoiana — ATX Open:...	142	23,675	0.708	+344.4	$+815.30	-100.4	-118.4	-144.7	-129.5	-48.0
Thunder vs. Raptors — Thunder vs. Raptors [073390]	561	22,085	0.149	+2081.9	$+4,598.03	+6983.6	+6983.6	+6983.6	+6983.6	+6983.6
— [687028]	199	19,260	0.732	+148.5	$+286.00	-172.6	-243.2	-261.0	-242.6	-788.1
Real Madrid CF vs. Sport Lisboa e Benfica — Will Real Mad...	197	15,876	0.634	+69.5	$+110.30	-0.0	-0.0	-0.1	-8.9	-4.6
Merida Open Akron: Varvara Lepchenko vs Shuai Zhang — Mer...	65	7,082	0.813	+154.7	$+109.57	-42.9	-46.1	-39.9	-26.1	+3.0
Independiente Medellín vs. Liverpool FC — Will Independie...	16	4,423	0.937	+1049.3	$+464.09	-702.7	-788.5	-786.0	-835.5	-873.6
Paris Saint-Germain FC vs. AS Monaco FC — Will Paris Sain...	56	4,303	0.779	+96.2	$+41.37	+0.0	+0.0	+0.0	+0.0	+0.0
Mexican Open: Rinky Hijikata vs Mattia Bellucci — Mexican...	166	2,929	0.337	+852.6	$+249.77	-185.7	-153.5	-113.5	-596.4	-616.2
Real Madrid CF vs. Sport Lisboa e Benfica — Will Sport Li...	62	2,568	0.835	+68.0	$+17.46	+0.0	+0.0	+0.0	+0.0	+0.0
Real Madrid CF vs. Sport Lisboa e Benfica — Will Sport Li...	51	2,110	0.171	+367.9	$+77.61	+0.0	+0.0	+0.0	+0.0	+0.0
ATX Open: Anastasia Zakharova vs Mary Stoiana — ATX Open:...	59	2,038	0.488	+473.4	$+96.46	+641.3	+231.3	+35.6	-490.1	-2363.5
Real Madrid CF vs. Sport Lisboa e Benfica — Will Real Mad...	55	1,435	0.800	+77.6	$+11.14	+0.0	+0.0	+0.0	+0.0	+0.0
CA Belgrano vs. CA Tucumán — Will CA Belgrano win on 2026...	1	999	0.999	+137.7	$+13.75	+0.0	+0.0	+0.0	+0.0	+0.0

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.