Public channels — no authentication required.
| Channel | Example | Frequency | Guide |
|---|
l2:bbo:{instrument} | l2:bbo:BTC_USDC-PERPETUAL | On BBO change | bbo |
l2:perps:{freq}:{instrument} | l2:perps:100:BTC_USDC-PERPETUAL | 100ms, 250ms, 500ms. Cache recovery with since: {} | l2_orderbook |
l2:perps:grouped:{bucket}:{instrument} | l2:perps:grouped:0.5:ETH_USDC-PERPETUAL | 250ms. Cache recovery with since: {} | l2_grouped |
trades_perp:{instrument} | trades_perp:BTC_USDC-PERPETUAL | On trade. Last 100 on subscribe with recovery | trades_perp |
| Channel | Example | Frequency | Guide |
|---|
l2:bbo:options:{instrument} | l2:bbo:options:ETH_USDC-31OCT25-130000-C | On BBO change. 17-element array with Greeks, IV, edge | options_bbo |
l2:bbo:options:{pair}:{maturity} | l2:bbo:options:ETH_USDC:31OCT25 | Per-maturity aggregate (all instruments) | options_bbo |
l2:options:{instrument} | l2:options:ETH_USDC-31OCT25-130000-C | On book change. Snapshot + incremental deltas with seq | options_l2 |
l2:options:{pair}:{maturity} | l2:options:ETH_USDC:31OCT25 | Per-maturity aggregate (all instruments) | options_l2 |
trades_option:{instrument} | trades_option:BTC_USDC-31OCT25-130000-C | On trade. Last 100 on subscribe with recovery | trades_option |
| Channel | Example | Frequency | Guide |
|---|
market:index_price:{pair} | market:index_price:BTC_USDC | On change (deduplicated) | index_price |
index_candles:{pair}:{resolution} | index_candles:BTC_USDC:60 | Live candle update | index_candles |
market:funding:{period}:{instrument} | market:funding:current:ETH_USDC-PERP | On update. Cache recovery with since: {} | funding |
market:interest_rate:{pair}:{maturity} | market:interest_rate:ETH_USDC:11MAR26 | On update. Cache recovery with since: {} | interest_rate |
market:interest_rate:{pair} | market:interest_rate:ETH_USDC | Aggregate (all maturities, live) | interest_rate |
market:svi:{pair}:{maturity} | market:svi:ETH_USDC:11MAR26 | On update. Cache recovery with since: {} | svi |
market:svi:{pair} | market:svi:ETH_USDC | Aggregate (all maturities, live) | svi |
Parameters:
{instrument} — Instrument name. Perps: BTC_USDC-PERPETUAL, ETH_USDC-PERPETUAL. Options: BTC_USDC-31OCT25-130000-C{freq} — Update frequency in milliseconds: 100, 250, 500{bucket} — Price bucket size for grouped book. ETH: 0.1, 0.2, 0.5, 1, 10, 100. BTC: 1, 2, 5, 10, 100, 1000{token} — Token symbol: BTC, ETH, ARB{pair} — Trading pair: BTC_USDC, ETH_USDC, ARB_USDC{period} — Funding period: current, previous{maturity} — Expiry label: 11MAR26, 20240315, etc.{resolution} — Candle period: 1S, 1 (1m), 5, 15, 30, 60 (1h), 240, D, W, M
All prices, rates, amounts, and SVI parameters are JSON strings to preserve decimal precision.
Which channels to subscribe to depends on what you're building. Each channel's guide page includes a Related channels section explaining why each dependency matters.
| Channel | Purpose |
|---|
l2:bbo:options:{pair}:{maturity} | Top-of-book for all strikes in a maturity -- Greeks, IV, edge, spread |
l2:options:{pair}:{maturity} | Full depth with per-level IV |
market:index_price:{pair} | Underlying spot price |
market:svi:{pair} | Vol surface parameters |
market:interest_rate:{pair} | Risk-free rate for forward and Black-Scholes pricing |
l2:bbo:{instrument} | Perps top-of-book for the same underlying |
market:funding:current:{instrument} | Funding rate on the perps instrument |
orders:{address} | Your order fills, cancellations, and MMP events |
trades_option:{instrument} | Public options trade tape |
| Channel | Purpose |
|---|
l2:bbo:{instrument} | Top-of-book -- spread and mid price |
l2:perps:{freq}:{instrument} | Full 20-level depth |
market:index_price:{pair} | Spot price for basis calculation (perp mid - index) |
market:funding:current:{instrument} | Funding rate for the instrument |
orders:{address} | Your order fills and cancellations |
trades_perp:{instrument} | Public perps trade tape |
l2:bbo:options:{pair}:{maturity} | Options market IV and skew data for the same underlying |
| Channel | Purpose |
|---|
l2:bbo:{instrument} | Perps top-of-book |
l2:bbo:options:{instrument} | Options top-of-book with Greeks |
market:index_price:{pair} | Spot price reference |
orders:{address} | Order state and fill confirmation |
trades_perp:{instrument} | Public perps trade tape |
index_candles:{pair}:{resolution} | OHLC candle data for the index |
