@sharpe-terminal/mcp-server 1.4.0 → 1.6.0

package/dist/composite-tools.js

@@ -1,10 +1,17 @@
 /**
- * Composite tools that call multiple API endpoints concurrently
- * and return formatted markdown. Mirrors the Python server's
- * analyze_coin, market_briefing, and find_opportunities.
+ * Composite tools that call several API endpoints concurrently and return
+ * formatted markdown. Mirrors the Python server's analyze_coin,
+ * market_briefing and find_opportunities line for line.
+ *
+ * Every number a composite prints is a field the API serves, the value the web
+ * page and /api/v1 give for the same request (engine L4 WP-D14): the
+ * rankings, floors, averages and APRs are request parameters and response
+ * fields, never recomputed here. A report ends with the freshness of every
+ * answer it read.
  */
+import { freshnessOf } from "./api-client.js";
+import { endpointTool, toolRoutes } from "./endpoint-tools.js";
 import { splitPaginated } from "./tool-runtime.js";
-import { rowsForFundingCoin } from "./tools.js";
 // ── Formatting helpers ────────────────────────────────────────────────
 export function fmtUsd(value) {
     if (value == null)
@@ -31,72 +38,33 @@ export function fmtRate(value) {
         return "N/A";
     return `${(value * 100).toFixed(4)}%`;
 }
-const HOURS_PER_YEAR = 8760;
-/**
- * A funding row's own settlement interval. Returns null rather than a default
- * when the venue publishes none — see src/products/funding-rate/lib/
- * CALCULATIONS.md: a stored rate is never implicitly an 8-hour rate.
- */
-export function intervalHours(r) {
-    const raw = Number(r.interval_hours ?? r.intervalHours);
-    return Number.isFinite(raw) && raw > 0 ? raw : null;
-}
-function rateVal(r) {
-    return Number(r.rate ?? r.funding_rate ?? 0);
-}
-/** APR for one observation: `rate x (8760 / interval_hours)`. */
-export function aprVal(r) {
-    const hours = intervalHours(r);
-    return hours == null ? Number.NaN : rateVal(r) * (HOURS_PER_YEAR / hours);
+/** An annualized fraction (0.25 = 25%) as a percentage, or N/A. */
+export function fmtApr(value) {
+    const n = finiteOrNull(value);
+    return n == null ? "N/A" : `${(n * 100).toFixed(1)}%`;
 }
 /**
- * Minimum open interest (USD) for a market to rank in market_briefing and
- * find_opportunities, and the per-leg OI and volume floor sent to the
- * cross-exchange scanner. Without it every extreme was a dust market (ESIM
- * on KuCoin: $33K of OI at -16,862% APR, 2026-09-24 audit). Unknown OI fails
- * the floor, the same rule the cross-exchange API applies.
+ * The open-interest floor (USD) the composites ask the API to apply: funding
+ * extremes (`min_oi_usd`), the spot-perp perp leg and both cross-exchange legs
+ * (`minOiUsd`, `minVolUsd`). Unfloored, every extreme was a dust market (ESIM
+ * on KuCoin: $33K of OI at -16,862% APR, 2026-09-24 audit). The API applies
+ * it; unknown open interest fails it there.
  */
 export const LIQUIDITY_FLOOR_USD = 1_000_000;
-function meetsLiquidityFloor(value) {
-    return value != null && Number(value) >= LIQUIDITY_FLOOR_USD;
-}
-/** FUNDING_RATE_FRESHNESS_SLA_SECONDS in src/products/funding-rate/lib/freshness.ts. */
-export const FUNDING_FRESHNESS_SLA_MS = 10 * 60 * 1000;
 /**
- * A funding row past its freshness SLA. The free endpoint serves stale rows
- * flagged `is_stale: true` rather than dropping them, so rankings skip them;
- * a row without the flag is judged from its `updated_at`.
+ * `max_age_h` on the funding calls: v1 leaves out rows not written for six
+ * hours (V1_MAX_AGE_HOURS in the funding read model), so a keyless answer
+ * counts the same rows as a keyed one. v1 ignores the parameter.
  */
-export function isStaleRow(row, nowMs = Date.now()) {
-    if (typeof row.is_stale === "boolean")
-        return row.is_stale;
-    const updatedAt = Date.parse(String(row.updated_at ?? ""));
-    return (Number.isFinite(updatedAt) && nowMs - updatedAt > FUNDING_FRESHNESS_SLA_MS);
-}
+export const FUNDING_MAX_AGE_HOURS = 6;
 function isRecord(value) {
     return value !== null && typeof value === "object" && !Array.isArray(value);
 }
 function finiteOrNull(value) {
     return typeof value === "number" && Number.isFinite(value) ? value : null;
 }
-/** Sort key for a nullable number: missing sorts last in a descending sort. */
-function sortKey(value) {
-    const n = Number(value);
-    return value != null && Number.isFinite(n) ? n : Number.NEGATIVE_INFINITY;
-}
-/** An annualized fraction (0.25 = 25%) as a percentage, or N/A. */
-function fmtApr(value) {
-    const n = Number(value);
-    return value == null || !Number.isFinite(n)
-        ? "N/A"
-        : `${(n * 100).toFixed(1)}%`;
-}
-function median(values) {
-    const sorted = [...values].sort((a, b) => a - b);
-    const mid = Math.floor(sorted.length / 2);
-    return sorted.length % 2 === 0
-        ? (sorted[mid - 1] + sorted[mid]) / 2
-        : sorted[mid];
+function text(value) {
+    return typeof value === "string" && value !== "" ? value : null;
 }
 /** Rows of a list payload that may be wrapped as `{ data, pagination }` or `{ items }`. */
 function listRows(payload) {
@@ -105,69 +73,8 @@ function listRows(payload) {
         rows = rows.items;
     return Array.isArray(rows) ? rows.filter(isRecord) : null;
 }
-/** A venue whose latest reading trails the newest by more than this is not current OI. */
-export const OI_FRESHNESS_WINDOW_MS = 2 * 60 * 60 * 1000;
-/**
- * Venues the API names in `openInterestExcludedVenues`: their rows are
- * shown per venue but never summed (MEXC, whose figure moves 7.00x its own
- * trade flow), keyed to the reason the payload gives.
- */
-export function excludedOiVenues(payload) {
-    const excluded = new Map();
-    const listed = isRecord(payload)
-        ? payload.openInterestExcludedVenues
-        : undefined;
-    if (!Array.isArray(listed))
-        return excluded;
-    for (const item of listed) {
-        if (isRecord(item) && typeof item.exchange === "string") {
-            excluded.set(item.exchange, typeof item.reason === "string" ? item.reason : "");
-        }
-    }
-    return excluded;
-}
-/**
- * Each venue's latest open-interest reading, split into venues that are
- * current (within OI_FRESHNESS_WINDOW_MS of the newest reading), venues
- * that stopped reporting, and venues the API excludes from totals. Totals
- * sum every current venue: summing only the ten listed understated BTC by
- * 9.4% (2026-09-24 audit).
- */
-export function summarizeVenueOi(rows, excludedVenues = new Map()) {
-    const latest = new Map();
-    for (const item of rows) {
-        if (!isRecord(item))
-            continue;
-        const value = Number(item.open_interest_value ?? item.value ?? item.oi ?? item.open_interest);
-        const at = Date.parse(String(item.timestamp ?? item.snapshot_at ?? ""));
-        if (!(value > 0) || !Number.isFinite(at))
-            continue;
-        const exchange = String(item.exchange ?? "Unknown");
-        const prev = latest.get(exchange);
-        if (!prev || at >= prev.at)
-            latest.set(exchange, { exchange, value, at });
-    }
-    const all = [...latest.values()];
-    const newest = Math.max(...all.map((venue) => venue.at));
-    const byValue = (a, b) => b.value - a.value;
-    const venues = all.filter((venue) => !excludedVenues.has(venue.exchange));
-    return {
-        current: venues
-            .filter((venue) => newest - venue.at <= OI_FRESHNESS_WINDOW_MS)
-            .sort(byValue),
-        stale: venues
-            .filter((venue) => newest - venue.at > OI_FRESHNESS_WINDOW_MS)
-            .sort(byValue),
-        excluded: all
-            .filter((venue) => excludedVenues.has(venue.exchange))
-            .sort(byValue),
-    };
-}
-function fundingHighlightLine(r) {
-    const coinName = (r.base_coin ?? r.coin ?? r.symbol ?? "?");
-    const exchange = (r.exchange ?? "?");
-    const aprStr = `${(aprVal(r) * 100).toFixed(1)}%`;
-    return `  ${coinName} on ${exchange}: ${aprStr} APR (${fmtRate(rateVal(r))} per ${intervalHours(r)}h)`;
+function records(value) {
+    return Array.isArray(value) ? value.filter(isRecord) : [];
 }
 function safeGet(obj, ...keys) {
     let current = obj;
@@ -181,8 +88,55 @@ function safeGet(obj, ...keys) {
     }
     return current;
 }
-async function safeCall(callApi, apiPath, fallbackPath, args, label) {
+/** A market's name with its asset class when it is not a token (TSLL is a stock, not a coin). */
+function marketLabel(row) {
+    const coin = text(row.base_coin) ?? text(row.symbol) ?? "?";
+    const assetClass = text(row.asset_class);
+    return assetClass == null || assetClass === "crypto"
+        ? coin
+        : `${coin} (${assetClass})`;
+}
+// ── Freshness ─────────────────────────────────────────────────────────
+/** One answer's freshness, as the Python server prints it: `dataset · as of … · status[ · degraded] (warnings)`. */
+export function freshnessLine(freshness) {
+    const parts = [
+        freshness.dataset_id || "data",
+        freshness.as_of ? `as of ${freshness.as_of}` : "as of unknown",
+        freshness.freshness_status,
+    ];
+    if (freshness.runtime_status === "degraded")
+        parts.push("degraded");
+    const line = parts.join(" · ");
+    return freshness.warnings.length > 0
+        ? `${line} (${freshness.warnings.join("; ")})`
+        : line;
+}
+/**
+ * The report with a closing line naming the freshness of every answer it read
+ * (engine L5 WP-S12), each once, in the order the calls were made. Nothing
+ * changes when no answer said anything.
+ */
+export function withFreshnessReport(report, answers) {
+    const seen = [];
+    const keys = new Set();
+    for (const answer of answers) {
+        const freshness = freshnessOf(answer);
+        if (freshness === null)
+            continue;
+        const key = JSON.stringify(freshness);
+        if (keys.has(key))
+            continue;
+        keys.add(key);
+        seen.push(freshness);
+    }
+    return seen.length === 0
+        ? report
+        : `${report}\n\n**Data freshness:** ${seen.map(freshnessLine).join("; ")}`;
+}
+/** Calls an endpoint tool's routes (from the manifest) and keeps a failure as a data gap instead of throwing. */
+async function safeCall(callApi, toolName, args, label) {
     try {
+        const { apiPath, fallbackPath } = toolRoutes(endpointTool(toolName));
         const data = await callApi(apiPath, fallbackPath, args);
         return { data, error: null };
     }
@@ -191,6 +145,20 @@ async function safeCall(callApi, apiPath, fallbackPath, args, label) {
         return { data: null, error: `[${label}] ${msg}` };
     }
 }
+async function settleAll(tasks) {
+    const results = await Promise.allSettled(tasks);
+    return results.map((r) => r.status === "fulfilled"
+        ? r.value
+        : { data: null, error: "Promise rejected" });
+}
+function finish(lines, settled) {
+    const errors = settled.filter((s) => s.error).map((s) => s.error);
+    if (errors.length > 0) {
+        lines.push("");
+        lines.push(`**Data gaps:** ${errors.join("; ")}`);
+    }
+    return withFreshnessReport(lines.join("\n"), settled.map((s) => s.data));
+}
 // ── Price-prediction coin resolution ──────────────────────────────────
 /**
  * Find the prediction row for a ticker in the endpoint's own coverage list.
@@ -224,169 +192,142 @@ export function findPredictionRow(payload, ticker) {
     return null;
 }
 // ── analyze_coin ──────────────────────────────────────────────────────
+function capitalize(value) {
+    return value.charAt(0).toUpperCase() + value.slice(1).toLowerCase();
+}
+function predictionLines(prediction, coinUpper) {
+    const row = prediction.data
+        ? findPredictionRow(prediction.data, coinUpper)
+        : null;
+    if (!row) {
+        return prediction.data
+            ? [
+                `\n*No price prediction for ${coinUpper}: this ticker is not in the price-prediction coverage universe. Call get_price_prediction with no coin to list covered tickers and their slugs.*`,
+            ]
+            : ["\n*Price prediction data unavailable*"];
+    }
+    const bias = String(row.direction ?? row.bias ?? "unknown");
+    const score = finiteOrNull(row.consensusScore ?? row.score);
+    const price = finiteOrNull(row.spotPrice ?? row.price);
+    const change24h = finiteOrNull(row.priceChange24h ?? row.price_change_24h);
+    const lines = [
+        "",
+        `**Price:** ${fmtUsd(price)} | **24h:** ${change24h != null ? fmtPct(change24h) : ""}`,
+        `**Prediction:** ${capitalize(bias)} (score: ${score != null ? `${score}/100` : "N/A"})`,
+    ];
+    const signals = row.signals ?? row.technical;
+    if (Array.isArray(signals)) {
+        const parts = records(signals)
+            .map((s) => {
+            const label = text(s.label ?? s.name);
+            const sigBias = text(s.bias);
+            return label && sigBias ? `${label}: ${sigBias}` : null;
+        })
+            .filter((part) => part !== null)
+            .slice(0, 6);
+        if (parts.length > 0)
+            lines.push(`**Signals:** ${parts.join(", ")}`);
+    }
+    else if (isRecord(signals)) {
+        const parts = [];
+        if (signals.rsi != null)
+            parts.push(`RSI ${Number(signals.rsi).toFixed(0)}`);
+        if (signals.ema_trend)
+            parts.push(`EMA ${signals.ema_trend}`);
+        if (parts.length > 0)
+            lines.push(`**Technicals:** ${parts.join(", ")}`);
+    }
+    return lines;
+}
+function fundingRowLine(row) {
+    const market = [text(row.exchange) ?? "Unknown", text(row.symbol)]
+        .filter(Boolean)
+        .join(" ");
+    return `  ${market}: ${fmtRate(finiteOrNull(row.rate_8h))} per 8h (${fmtApr(row.apr)} APR) | OI ${fmtUsd(finiteOrNull(row.open_interest))}`;
+}
+/** One asset of a `summary=1` answer: the API's average and median across venues. */
+function fundingSummaryLine(entry) {
+    const stale = finiteOrNull(entry.funding_venues_stale) ?? 0;
+    const parts = [
+        `  **Average (${marketLabel(entry)}):** ${fmtRate(finiteOrNull(entry.funding_avg_8h))} per 8h (${text(entry.funding_method) ?? "n/a"})`,
+        `**Median:** ${fmtRate(finiteOrNull(entry.funding_median_8h))} per 8h`,
+        `${finiteOrNull(entry.funding_venues_used) ?? 0} venues`,
+    ];
+    let line = parts.join(" | ");
+    if (stale > 0)
+        line += `, ${stale} stale venues left out`;
+    if (entry.funding_all_stale === true)
+        line += " *(every venue is stale: the figures are over stale rates)*";
+    return line;
+}
 export async function analyzeCoin(callApi, coin) {
     const coinUpper = coin.toUpperCase();
-    const tasks = [
-        safeCall(callApi, "/api/v1/funding/rates", "/api/funding/rates", 
-        // Narrow server-side: the unfiltered accumulated book is ~16k rows, and
-        // slicing it client-side left every coin past the alphabetical head
-        // reporting "No funding rates found" (2026-08-01 audit).
-        { type: "accumulated", coin: coinUpper }, "funding"),
-        safeCall(callApi, "/api/v1/futures/data", "/api/futures/data", { chart: "oi-snapshot", coin: coinUpper, timeframe: "3M" }, "oi"),
+    const fundingScope = {
+        type: "current",
+        coin: coinUpper,
+        max_age_h: FUNDING_MAX_AGE_HOURS,
+    };
+    const settled = await settleAll([
         // No `coin` param: the endpoint is slug-keyed and the caller gives us a
         // ticker, so ask for the coverage list and match the ticker in it rather
         // than shipping a guessed slug that can resolve to another asset.
-        safeCall(callApi, "/api/v1/price-prediction/data", "/api/price-prediction/data", {}, "prediction"),
-        // The dollar value actually paid at the next settlement -- funding
-        // rates above show the rate, not the OI-weighted amount that changes
-        // hands. Coin-scoped, so this reads the coin's own row below, never
-        // `totals` (which stays scoped to the whole class regardless of the
-        // `coin` filter -- see settlement-query.ts).
-        safeCall(callApi, "/api/v1/funding/settlement", "/api/funding/settlement", { coin: coinUpper, window: "current" }, "settlement"),
-    ];
-    const results = await Promise.allSettled(tasks);
-    const settled = results.map((r) => r.status === "fulfilled"
-        ? r.value
-        : { data: null, error: "Promise rejected" });
-    const [funding, oi, prediction, settlement] = settled;
-    const errors = settled
-        .filter((s) => s.error)
-        .map((s) => s.error);
+        safeCall(callApi, "get_price_prediction", {}, "prediction"),
+        // The API resolves `coin` to an asset (PEPE brings its 1000PEPE and KPEPE
+        // contracts) and orders the markets by their own open interest.
+        safeCall(callApi, "get_funding_rates", { ...fundingScope, sort: "-open_interest" }, "funding"),
+        // The asset's funding across venues: the funding grid's Avg Rate.
+        safeCall(callApi, "get_funding_rates", { ...fundingScope, summary: "1" }, "funding-summary"),
+        // The asset's open-interest total (L4 oi.asset_total_usd): /global's row,
+        // every contract of the asset once, lots included, venues the API keeps
+        // out of totals left out, latest reading within six hours.
+        safeCall(callApi, "get_global_overview", {}, "open-interest"),
+        // The dollar value paid at the next settlement: the coin's own rows, never
+        // `totals` (which stays scoped to the whole class).
+        safeCall(callApi, "get_funding_settlement", { coin: coinUpper, window: "current" }, "settlement"),
+    ]);
+    const [prediction, funding, summary, global, settlement] = settled;
     const lines = [`## ${coinUpper} Analysis`];
-    // Price prediction. The coverage list already carries the full score row for
-    // every covered coin, so the matched row is the answer — no second call.
-    const predictionRow = prediction.data
-        ? findPredictionRow(prediction.data, coinUpper)
-        : null;
-    if (predictionRow) {
-        const finalPred = predictionRow;
-        const bias = (safeGet(finalPred, "direction") ??
-            safeGet(finalPred, "bias") ??
-            "unknown");
-        const score = (safeGet(finalPred, "consensusScore") ??
-            safeGet(finalPred, "score"));
-        const price = (safeGet(finalPred, "spotPrice") ??
-            safeGet(finalPred, "price"));
-        const change24h = (safeGet(finalPred, "priceChange24h") ??
-            safeGet(finalPred, "price_change_24h"));
-        lines.push("");
-        lines.push(`**Price:** ${price != null ? fmtUsd(price) : "N/A"} | **24h:** ${change24h != null ? fmtPct(change24h) : ""}`);
-        lines.push(`**Prediction:** ${String(bias).charAt(0).toUpperCase() + String(bias).slice(1)} (score: ${score != null ? `${score}/100` : "N/A"})`);
-        const signals = (safeGet(finalPred, "signals") ??
-            safeGet(finalPred, "technical"));
-        if (Array.isArray(signals) && signals.length > 0) {
-            const parts = signals
-                .filter((s) => typeof s === "object" && s !== null)
-                .map((s) => {
-                const label = (s.label ?? s.name ?? "");
-                const sigBias = (s.bias ?? "");
-                return label && sigBias ? `${label}: ${sigBias}` : null;
-            })
-                .filter(Boolean)
-                .slice(0, 6);
-            if (parts.length > 0)
-                lines.push(`**Signals:** ${parts.join(", ")}`);
-        }
-        else if (typeof signals === "object" && signals !== null) {
-            const sigObj = signals;
-            const parts = [];
-            if (sigObj.rsi != null)
-                parts.push(`RSI ${Number(sigObj.rsi).toFixed(0)}`);
-            if (sigObj.ema_trend)
-                parts.push(`EMA ${sigObj.ema_trend}`);
-            if (parts.length > 0)
-                lines.push(`**Technicals:** ${parts.join(", ")}`);
-        }
+    lines.push(...predictionLines(prediction, coinUpper));
+    // Funding: the markets in the API's open-interest order, then its summary.
+    const fundingRows = funding.data ? (listRows(funding.data) ?? []) : null;
+    if (fundingRows === null) {
+        lines.push("\n*Funding rate data unavailable*");
     }
-    else if (prediction.data) {
-        lines.push(`\n*No price prediction for ${coinUpper}: this ticker is not in the price-prediction coverage universe. Call get_price_prediction with no coin to list covered tickers and their slugs.*`);
+    else if (fundingRows.length === 0) {
+        lines.push("\n*No funding rates found for this coin*");
     }
     else {
-        lines.push("\n*Price prediction data unavailable*");
-    }
-    // Open interest per venue. Read before the funding section, which lists
-    // venues in open-interest order.
-    let oiRows = oi.data;
-    const oiExcluded = excludedOiVenues(oiRows);
-    if (isRecord(oiRows) && "data" in oiRows)
-        oiRows = oiRows.data;
-    const venueOi = Array.isArray(oiRows)
-        ? summarizeVenueOi(oiRows, oiExcluded)
-        : null;
-    // Funding. type=accumulated rows carry realised sums of settled funding
-    // (acc_1d, acc_7d), not a per-interval rate, and arrive ordered by
-    // exchange name. List the largest venues by open interest and summarise
-    // every row: averaging the first ten alphabetical rows skipped Bybit, OKX
-    // and Hyperliquid (2026-09-24 audit).
-    if (funding.data) {
-        const ratesList = listRows(funding.data);
-        if (ratesList) {
-            // Exact identity match only: a `symbol.startsWith` prefix test folded
-            // unrelated markets in (BTC pulling BTCDOM, SOL pulling SOLAYER/SOLV).
-            // The API scopes `coin` to an asset, so PEPE's rows include its
-            // 1000PEPE and KPEPE lot contracts; rowsForFundingCoin keeps them.
-            const coinRates = rowsForFundingCoin(ratesList, coinUpper);
-            if (coinRates.length > 0) {
-                const oiByExchange = new Map((venueOi?.current ?? []).map((venue) => [
-                    venue.exchange,
-                    venue.value,
-                ]));
-                const venueOiOf = (rec) => oiByExchange.get(String(rec.exchange ?? "")) ?? -1;
-                const listed = [...coinRates].sort((a, b) => venueOiOf(b) - venueOiOf(a) ||
-                    String(a.exchange ?? "").localeCompare(String(b.exchange ?? "")));
-                lines.push("");
-                lines.push("**Funding (realised 1d / 7d sums, largest venues by OI):**");
-                for (const rec of listed.slice(0, 10)) {
-                    const market = [rec.exchange ?? "Unknown", rec.symbol]
-                        .filter(Boolean)
-                        .join(" ");
-                    lines.push(`  ${market}: 1d ${fmtRate(finiteOrNull(rec.acc_1d))} | 7d ${fmtRate(finiteOrNull(rec.acc_7d))}`);
-                }
-                const settled = coinRates.filter((rec) => finiteOrNull(rec.acc_1d) != null);
-                if (settled.length > 0) {
-                    // Row count and venue count differ: one venue can list the same coin
-                    // as both a linear and an inverse market.
-                    const exchanges = new Set(settled.map((rec) => String(rec.exchange ?? "Unknown")));
-                    const oneDay = median(settled.map((rec) => rec.acc_1d));
-                    lines.push(`  **Median 1d realised funding:** ${fmtRate(oneDay)} across ${settled.length} markets on ${exchanges.size} exchanges`);
-                }
-            }
-            else {
-                lines.push("\n*No funding rates found for this coin*");
-            }
+        lines.push("");
+        lines.push("**Funding (current, largest markets by open interest):**");
+        for (const row of fundingRows.slice(0, 10))
+            lines.push(fundingRowLine(row));
+        for (const entry of records(safeGet(summary.data, "summary"))) {
+            lines.push(fundingSummaryLine(entry));
         }
     }
-    else {
-        lines.push("\n*Funding rate data unavailable*");
-    }
-    // Open interest
-    if (oi.data) {
+    // Open interest: the asset's row on the global board, found by the asset
+    // symbol the funding answer resolved (coin=1000PEPE files under PEPE).
+    if (global.data) {
+        const assetSymbol = fundingRows?.map((row) => text(row.asset_symbol)).find(Boolean) ??
+            coinUpper;
+        const row = records(safeGet(global.data, "rows")).find((candidate) => text(candidate.symbol) === assetSymbol);
         lines.push("");
         lines.push("**Open Interest:**");
-        if (venueOi) {
-            for (const venue of venueOi.current.slice(0, 10)) {
-                lines.push(`  ${venue.exchange}: ${fmtUsd(venue.value)}`);
-            }
-            if (venueOi.current.length > 0) {
-                const total = venueOi.current.reduce((sum, venue) => sum + venue.value, 0);
-                const listedNote = venueOi.current.length > 10 ? " (top 10 listed)" : "";
-                lines.push(`  **Total:** ${fmtUsd(total)} across ${venueOi.current.length} exchanges${listedNote}`);
-            }
-            if (venueOi.excluded.length > 0) {
-                const excludedVenues = venueOi.excluded
-                    .map((venue) => {
-                    const reason = oiExcluded.get(venue.exchange);
-                    return `${venue.exchange} ${fmtUsd(venue.value)}${reason ? ` (${reason})` : ""}`;
-                })
-                    .join("; ");
-                lines.push(`  *Excluded from the total, per-venue value only: ${excludedVenues}.*`);
-            }
-            if (venueOi.stale.length > 0) {
-                const staleVenues = venueOi.stale
-                    .map((venue) => `${venue.exchange} (${new Date(venue.at).toISOString().slice(0, 16)}Z)`)
-                    .join(", ");
-                lines.push(`  *Excluded from the total, latest reading over 2h older than the newest: ${staleVenues}.*`);
-            }
+        if (row) {
+            lines.push(`  **Total:** ${fmtUsd(finiteOrNull(row.openInterestUsd))} across ${finiteOrNull(row.venueCount) ?? "N/A"} venues | 1h ${fmtPct(finiteOrNull(row.oiChange1hPct))} | 24h ${fmtPct(finiteOrNull(row.oiChange24hPct))}`);
+        }
+        else {
+            lines.push(`  *No open-interest total for ${assetSymbol} on the global board.*`);
+        }
+        const excluded = records(safeGet(global.data, "metrics", "openInterestExcludedVenues"))
+            .map((venue) => {
+            const exchange = text(venue.exchange);
+            const reason = text(venue.reason);
+            return exchange ? `${exchange}${reason ? ` (${reason})` : ""}` : null;
+        })
+            .filter((venue) => venue !== null);
+        if (excluded.length > 0) {
+            lines.push(`  *Left out of the total: ${excluded.join("; ")}*`);
         }
     }
     else {
@@ -395,195 +336,151 @@ export async function analyzeCoin(callApi, coin) {
     // Settlement: dollar value actually paid at the next settlement.
     if (settlement.data) {
         const payload = settlement.data;
-        const rows = payload.rows ?? payload.data;
-        const row = Array.isArray(rows)
-            ? rows.find((r) => typeof r === "object" &&
-                r !== null &&
-                String(r.base_coin ?? "").toUpperCase() === coinUpper)
-            : undefined;
-        const net = safeGet(row, "windows", "current", "net");
+        const rows = records(payload.rows ?? payload.data);
         lines.push("");
         lines.push("**Settlement (next, estimated):**");
-        if (net == null) {
+        if (rows.length === 0) {
             lines.push("  No funding data for the next settlement.");
         }
-        else if (net > 0) {
-            lines.push(`  Longs pay ${fmtUsd(net)} to shorts.`);
-        }
-        else if (net < 0) {
-            lines.push(`  Shorts pay ${fmtUsd(-net)} to longs.`);
-        }
-        else {
-            lines.push("  No net funding at the next settlement.");
+        for (const row of rows) {
+            const net = finiteOrNull(safeGet(row, "windows", "current", "net"));
+            const prefix = rows.length > 1 ? `${marketLabel(row)}: ` : "";
+            if (net == null) {
+                lines.push(`  ${prefix}No funding data for the next settlement.`);
+            }
+            else if (net > 0) {
+                lines.push(`  ${prefix}Longs pay ${fmtUsd(net)} to shorts.`);
+            }
+            else if (net < 0) {
+                lines.push(`  ${prefix}Shorts pay ${fmtUsd(-net)} to longs.`);
+            }
+            else {
+                lines.push(`  ${prefix}No net funding at the next settlement.`);
+            }
         }
     }
     else {
         lines.push("\n*Settlement data unavailable*");
     }
-    if (errors.length > 0) {
-        lines.push("");
-        lines.push(`**Data gaps:** ${errors.join("; ")}`);
-    }
-    return lines.join("\n");
+    return finish(lines, settled);
 }
 // ── market_briefing ───────────────────────────────────────────────────
+function fundingExtremeLine(row) {
+    return `  ${marketLabel(row)} on ${text(row.exchange) ?? "?"}: ${fmtApr(row.apr)} APR (${fmtRate(finiteOrNull(row.rate_8h))} per 8h; raw ${fmtRate(finiteOrNull(row.rate))} per ${finiteOrNull(row.interval_hours) ?? "?"}h)`;
+}
 export async function marketBriefing(callApi) {
-    const results = await Promise.allSettled([
-        safeCall(callApi, "/api/v1/tracker/market-overview", "/api/tracker/market-overview", {}, "market-overview"),
-        safeCall(callApi, "/api/v1/narratives/data", "/api/narratives/data", {}, "narratives"),
-        safeCall(callApi, "/api/v1/funding/rates", "/api/funding/rates", { type: "current" }, "funding"),
-        // No coin filter, so `totals` correctly reflects the whole requested
-        // class (all, by default) rather than one coin's row.
-        safeCall(callApi, "/api/v1/funding/settlement", "/api/funding/settlement", { window: "current" }, "settlement"),
+    const settled = await settleAll([
+        safeCall(callApi, "get_market_overview", {}, "market-overview"),
+        // Ranked by the API: missing 24h changes are never ranked.
+        safeCall(callApi, "get_narratives", { sort: "-change24h", top: 5, bottom: 3 }, "narratives"),
+        // The book's extremes, ranked by the API on the 8h-equivalent rate among
+        // fresh markets with a usable interval above the floor.
+        safeCall(callApi, "get_funding_rates", {
+            type: "current",
+            extremes: 3,
+            min_oi_usd: LIQUIDITY_FLOOR_USD,
+            max_age_h: FUNDING_MAX_AGE_HOURS,
+        }, "funding"),
+        // No coin filter, so `totals` reflects the whole requested class.
+        safeCall(callApi, "get_funding_settlement", { window: "current" }, "settlement"),
     ]);
-    const settled = results.map((r) => r.status === "fulfilled"
-        ? r.value
-        : { data: null, error: "Promise rejected" });
     const [overview, narratives, funding, settlement] = settled;
-    const errors = settled
-        .filter((s) => s.error)
-        .map((s) => s.error);
     const lines = ["## Market Briefing"];
     // Market overview
-    if (overview.data && typeof overview.data === "object") {
+    if (isRecord(overview.data)) {
         const d = overview.data;
-        const mcap = d.total_market_cap;
-        const vol = (d.total_volume_24h ?? d.total_volume);
-        const btcDom = d.btc_dominance;
-        const fg = (d.fgi ?? d.fear_greed_index ?? d.fear_greed);
+        const mcap = finiteOrNull(d.total_market_cap);
+        const vol = finiteOrNull(d.total_volume_24h ?? d.total_volume);
+        // Served in percent (57.3 = 57.3%); `btc_dominance` is the same figure.
+        const btcDom = finiteOrNull(d.btc_dominance_pct ?? d.btc_dominance);
+        const fg = d.fgi ?? d.fear_greed_index ?? d.fear_greed;
         lines.push("");
         lines.push("### Market Stats");
         if (mcap != null)
             lines.push(`**Total Market Cap:** ${fmtUsd(mcap)}`);
         if (vol != null)
             lines.push(`**24h Volume:** ${fmtUsd(vol)}`);
-        if (btcDom != null) {
-            const pct = btcDom > 1 ? btcDom : btcDom * 100;
-            lines.push(`**BTC Dominance:** ${pct.toFixed(1)}%`);
-        }
+        if (btcDom != null)
+            lines.push(`**BTC Dominance:** ${btcDom.toFixed(1)}%`);
         if (fg != null) {
-            const fgVal = typeof fg === "object" ? fg.value : fg;
-            let fgLabel = typeof fg === "object" ? (fg.label ?? "") : "";
+            const fgVal = isRecord(fg) ? fg.value : fg;
+            let fgLabel = isRecord(fg) ? (text(fg.label) ?? "") : "";
             if (!fgLabel)
-                fgLabel = (d.fgi_classification ?? "");
+                fgLabel = text(d.fgi_classification) ?? "";
             lines.push(`**Fear & Greed:** ${fgVal} ${fgLabel}`);
         }
-        // Top gainers
-        const gainers = (d.top_gainers ?? []);
-        if (Array.isArray(gainers) && gainers.length > 0) {
-            lines.push("");
-            lines.push("### Top Gainers (24h)");
-            for (const g of gainers.slice(0, 5)) {
-                const sym = (g.symbol ?? g.name ?? "?");
-                const chg = (g.price_change_24h ?? g.change);
-                lines.push(`  ${sym}: ${fmtPct(chg)}`);
-            }
-        }
-        // Top losers
-        const losers = (d.top_losers ?? []);
-        if (Array.isArray(losers) && losers.length > 0) {
+        for (const [key, heading] of [
+            ["top_gainers", "### Top Gainers (24h)"],
+            ["top_losers", "### Top Losers (24h)"],
+        ]) {
+            const movers = records(d[key]);
+            if (movers.length === 0)
+                continue;
             lines.push("");
-            lines.push("### Top Losers (24h)");
-            for (const l of losers.slice(0, 5)) {
-                const sym = (l.symbol ?? l.name ?? "?");
-                const chg = (l.price_change_24h ?? l.change);
-                lines.push(`  ${sym}: ${fmtPct(chg)}`);
+            lines.push(heading);
+            for (const m of movers.slice(0, 5)) {
+                const sym = text(m.symbol) ?? text(m.name) ?? "?";
+                lines.push(`  ${sym}: ${fmtPct(finiteOrNull(m.price_change_24h ?? m.change))}`);
             }
         }
     }
     else {
         lines.push("\n*Market overview data unavailable*");
     }
-    // Narratives
-    if (narratives.data) {
-        let narrList = narratives.data;
-        if (typeof narrList === "object" &&
-            narrList !== null &&
-            !Array.isArray(narrList)) {
-            const obj = narrList;
-            narrList = obj.narratives ?? obj.items ?? narrList;
-        }
-        if (Array.isArray(narrList) && narrList.length > 0) {
-            const typed = narrList.filter((n) => typeof n === "object" && n !== null);
-            const sortedNarr = [...typed].sort((a, b) => {
-                const aChg = Number(a.change24h ?? a.price_change_24h ?? a.change_24h ?? 0);
-                const bChg = Number(b.change24h ?? b.price_change_24h ?? b.change_24h ?? 0);
-                return bChg - aChg;
-            });
+    // Narratives, as the API ranked them.
+    if (isRecord(narratives.data)) {
+        const top = narratives.data.top;
+        const bottom = narratives.data.bottom;
+        if (Array.isArray(top) && Array.isArray(bottom)) {
             lines.push("");
             lines.push("### Top Narratives (24h)");
-            for (const n of sortedNarr.slice(0, 5)) {
-                const name = (n.name ?? n.narrative ?? "?");
-                const chg = (n.change24h ?? n.price_change_24h ?? n.change_24h);
-                const mcapN = (n.marketCap ?? n.market_cap);
-                lines.push(`  **${name}:** ${fmtPct(chg)} (mcap: ${fmtUsd(mcapN)})`);
+            for (const n of records(top)) {
+                lines.push(`  **${text(n.name) ?? "?"}:** ${fmtPct(finiteOrNull(n.change24h))} (mcap: ${fmtUsd(finiteOrNull(n.marketCap))})`);
             }
             lines.push("");
             lines.push("### Worst Narratives (24h)");
-            for (const n of sortedNarr.slice(-3)) {
-                const name = (n.name ?? n.narrative ?? "?");
-                const chg = (n.change24h ?? n.price_change_24h ?? n.change_24h);
-                lines.push(`  **${name}:** ${fmtPct(chg)}`);
+            for (const n of records(bottom)) {
+                lines.push(`  **${text(n.name) ?? "?"}:** ${fmtPct(finiteOrNull(n.change24h))}`);
             }
         }
+        else {
+            lines.push("\n*Narrative ranking unavailable*");
+        }
     }
     else {
         lines.push("\n*Narrative data unavailable*");
     }
-    // Funding highlights
-    if (funding.data) {
-        let ratesList = splitPaginated(funding.data).rows;
-        if (typeof ratesList === "object" &&
-            ratesList !== null &&
-            !Array.isArray(ratesList) &&
-            "items" in ratesList) {
-            ratesList = ratesList.items;
+    // Funding highlights: the API's extremes, never re-ranked here.
+    const extremes = safeGet(funding.data, "extremes");
+    if (isRecord(extremes)) {
+        const highest = records(extremes.highest);
+        const lowest = records(extremes.lowest);
+        lines.push("");
+        lines.push("### Funding Rate Highlights");
+        lines.push(`*Ranked by the API on the 8h-equivalent rate (rate x 8 / interval_hours) among fresh markets with at least ${fmtUsd(LIQUIDITY_FLOOR_USD)} open interest; APR = rate x 8760 / interval_hours.*`);
+        const omitted = isRecord(extremes.omitted) ? extremes.omitted : {};
+        for (const [key, reason] of [
+            ["stale", "stale, past the funding freshness SLA"],
+            ["no_interval", "no rate or no published settlement interval"],
+            [
+                "below_floor",
+                `open interest below ${fmtUsd(LIQUIDITY_FLOOR_USD)} or unknown`,
+            ],
+        ]) {
+            const count = finiteOrNull(omitted[key]);
+            if (count)
+                lines.push(`*${count} markets left out: ${reason}.*`);
         }
-        if (Array.isArray(ratesList) && ratesList.length > 0) {
-            const valid = ratesList.filter((r) => {
-                if (typeof r !== "object" || r === null)
-                    return false;
-                const rec = r;
-                return (rec.rate ?? rec.funding_rate) != null;
-            });
-            // A stale rate is not where funding is now; skip it before ranking.
-            const fresh = valid.filter((r) => !isStaleRow(r));
-            // `rate` is settled over the row's own interval (1h/2h/4h/8h/24h), so
-            // raw rates are not comparable across venues: ranking them un-normalized
-            // understated every 1h venue by 8x. Rank on APR instead. A row with no
-            // usable interval cannot be annualized honestly and is never assumed 8h.
-            const rankable = fresh.filter((r) => intervalHours(r) != null);
-            // Only markets someone can hold rank: unfloored, the extremes were
-            // always dust (HFT on Kraken, $2.5K of OI at -17,404% APR).
-            const liquid = rankable.filter((r) => meetsLiquidityFloor(r.open_interest));
-            if (valid.length > 0) {
-                const sorted = [...liquid].sort((a, b) => aprVal(b) - aprVal(a));
-                lines.push("");
-                lines.push("### Funding Rate Highlights");
-                lines.push(`*Ranked by APR = rate x (8760 / interval_hours), so 1h, 4h and 8h venues are comparable, across the ${liquid.length} markets with at least ${fmtUsd(LIQUIDITY_FLOOR_USD)} open interest.*`);
-                if (sorted.length > 0) {
-                    lines.push("**Highest (longs paying most):**");
-                    for (const r of sorted.slice(0, 3)) {
-                        lines.push(fundingHighlightLine(r));
-                    }
-                    lines.push("**Lowest (shorts paying most):**");
-                    for (const r of sorted.slice(-3)) {
-                        lines.push(fundingHighlightLine(r));
-                    }
-                }
-                const stale = valid.length - fresh.length;
-                if (stale > 0) {
-                    lines.push(`*${stale} row(s) omitted: stale, past the 10-minute funding freshness SLA.*`);
-                }
-                const skipped = fresh.length - rankable.length;
-                if (skipped > 0) {
-                    lines.push(`*${skipped} row(s) omitted: no settlement interval published, so their rate cannot be annualized.*`);
-                }
-                const thin = rankable.length - liquid.length;
-                if (thin > 0) {
-                    lines.push(`*${thin} row(s) omitted: open interest below ${fmtUsd(LIQUIDITY_FLOOR_USD)} or unknown.*`);
-                }
-            }
+        if (highest.length === 0 && lowest.length === 0) {
+            lines.push("*No market clears the floor.*");
+        }
+        else {
+            lines.push("**Highest (longs paying most):**");
+            for (const row of highest)
+                lines.push(fundingExtremeLine(row));
+            lines.push("**Lowest (shorts paying most):**");
+            for (const row of lowest)
+                lines.push(fundingExtremeLine(row));
         }
     }
     else {
@@ -591,11 +488,10 @@ export async function marketBriefing(callApi) {
     }
     // Funding settlement: whole-market dollar total, not a per-row rate.
     if (settlement.data) {
-        const payload = settlement.data;
-        const totals = payload.totals;
-        const net = safeGet(totals, "current", "net");
-        const longPaid = safeGet(totals, "current", "long_paid");
-        const shortPaid = safeGet(totals, "current", "short_paid");
+        const totals = settlement.data.totals;
+        const net = finiteOrNull(safeGet(totals, "current", "net"));
+        const longPaid = finiteOrNull(safeGet(totals, "current", "long_paid"));
+        const shortPaid = finiteOrNull(safeGet(totals, "current", "short_paid"));
         lines.push("");
         lines.push("### Funding Settlement (next, estimated)");
         if (net == null) {
@@ -614,83 +510,51 @@ export async function marketBriefing(callApi) {
     else {
         lines.push("\n*Funding settlement data unavailable*");
     }
-    if (errors.length > 0) {
-        lines.push("");
-        lines.push(`**Data gaps:** ${errors.join("; ")}`);
-    }
-    return lines.join("\n");
+    return finish(lines, settled);
 }
 // ── find_opportunities ────────────────────────────────────────────────
-/**
- * Largest non-stale market open interest per `${exchange}:${base_coin}` in
- * the current funding book. The spot-perp feed carries neither OI nor a
- * staleness flag, so its perp legs are checked against this.
- */
-function perpOpenInterest(rows) {
-    const byPair = new Map();
-    for (const row of rows) {
-        if (isStaleRow(row))
-            continue;
-        const oi = Number(row.open_interest);
-        if (!(oi > 0))
-            continue;
-        const key = `${String(row.exchange ?? "")}:${String(row.base_coin ?? "").toUpperCase()}`;
-        if (oi > (byPair.get(key) ?? 0))
-            byPair.set(key, oi);
-    }
-    return byPair;
+/** A row's own status flags, printed only when they say something. */
+function statusSuffix(row) {
+    const parts = [text(row.executionStatus) ?? "n/a"];
+    const pair = text(row.pairStatus);
+    if (pair && pair !== "eligible")
+        parts.push(pair);
+    if (row.fundingIsStale === true)
+        parts.push("funding stale");
+    return parts.join(" | ");
 }
 export async function findOpportunities(callApi) {
-    const results = await Promise.allSettled([
-        safeCall(callApi, "/api/v1/arbitrage/spot-perp", "/api/arbitrage/spot-perp", { exchange: "all", direction: "all" }, "spot-perp-arb"),
-        // The scanner applies no floor by default, which let a leg with $10K of
-        // OI lead at 8,492% APR (2026-09-24 audit). Both legs must clear it.
-        safeCall(callApi, "/api/v1/arbitrage/cross-exchange", "/api/arbitrage/cross-exchange", { minOiUsd: LIQUIDITY_FLOOR_USD, minVolUsd: LIQUIDITY_FLOOR_USD }, "cross-exchange-arb"),
-        safeCall(callApi, "/api/v1/funding/rates", "/api/funding/rates", { type: "current" }, "funding"),
+    const settled = await settleAll([
+        // The API floors the perp leg's open interest (unknown fails it) and
+        // keeps its board order: net APR first, then gross APR.
+        safeCall(callApi, "get_arbitrage_spot_perp", { exchange: "all", direction: "all", minOiUsd: LIQUIDITY_FLOOR_USD }, "spot-perp-arb"),
+        // Both legs must clear the floor; the API ranks executable rows first and
+        // cuts the board to the rows shown.
+        safeCall(callApi, "get_arbitrage_cross_exchange", {
+            minOiUsd: LIQUIDITY_FLOOR_USD,
+            minVolUsd: LIQUIDITY_FLOOR_USD,
+            limit: 10,
+        }, "cross-exchange-arb"),
+        // The whole book's funding stats (the v1 derivatives overview's
+        // computation, as APRs).
+        safeCall(callApi, "get_funding_rates", { type: "current", stats: "1" }, "funding"),
     ]);
-    const settled = results.map((r) => r.status === "fulfilled"
-        ? r.value
-        : { data: null, error: "Promise rejected" });
     const [spotPerp, crossEx, funding] = settled;
-    const errors = settled
-        .filter((s) => s.error)
-        .map((s) => s.error);
-    const lines = ["## Arbitrage Opportunities"];
-    const fundingRows = funding.data ? listRows(funding.data) : null;
-    const perpOi = fundingRows ? perpOpenInterest(fundingRows) : null;
     const floorLabel = fmtUsd(LIQUIDITY_FLOOR_USD);
+    const lines = ["## Arbitrage Opportunities"];
     // Spot-perp basis trades
     if (spotPerp.data) {
-        const arbList = listRows(spotPerp.data);
-        if (arbList && arbList.length > 0) {
-            // A perp leg whose OI is unknown, stale or under the floor is not an
-            // executable trade; unfiltered, frozen CoinEx rows at the +/-1.5% cap
-            // filled nine of the top ten.
-            const liquid = perpOi
-                ? arbList.filter((a) => (perpOi.get(`${String(a.exchange ?? "")}:${String(a.symbol ?? a.coin ?? "").toUpperCase()}`) ?? 0) >= LIQUIDITY_FLOOR_USD)
-                : arbList;
-            // Rank on the fee-adjusted net APR the route itself sorts by.
-            const sorted = [...liquid].sort((a, b) => sortKey(b.netApr ?? b.apr) - sortKey(a.netApr ?? a.apr));
-            lines.push("");
-            lines.push("### Spot-Perp Basis Trades (Top 10 by net APR)");
-            lines.push("*Long spot + short perp (or vice versa) to capture funding*");
-            lines.push(perpOi
-                ? `*Perp legs with at least ${floorLabel} open interest in the funding book: ${liquid.length} of ${arbList.length} rows.*`
-                : "*Liquidity floor not applied: funding book unavailable.*");
-            lines.push("");
-            if (sorted.length === 0) {
-                lines.push("  *No spot-perp row clears the liquidity floor.*");
-            }
-            for (const a of sorted.slice(0, 10)) {
-                const symbol = String(a.symbol ?? a.coin ?? "?");
-                const exchange = String(a.exchange ?? "?");
-                const rate = finiteOrNull(a.fundingRate ?? a.rate ?? a.funding_rate);
-                const direction = String(a.direction ?? "?");
-                lines.push(`  **${symbol}** on ${exchange} | Net APR: ${fmtApr(a.netApr)} | Gross APR: ${fmtApr(a.apr ?? a.annualized_apr)} | Rate: ${fmtRate(rate)} | Dir: ${direction}`);
-            }
+        const rows = listRows(spotPerp.data) ?? [];
+        lines.push("");
+        lines.push("### Spot-Perp Basis Trades (Top 10)");
+        lines.push("*Long spot + short perp (or vice versa) to capture funding*");
+        lines.push(`*Perp legs with at least ${floorLabel} open interest, in the API's order: net APR first, then gross APR.*`);
+        lines.push("");
+        if (rows.length === 0) {
+            lines.push("  *No spot-perp row clears the liquidity floor.*");
         }
-        else {
-            lines.push("\n*No spot-perp opportunities found*");
+        for (const a of rows.slice(0, 10)) {
+            lines.push(`  **${text(a.symbol) ?? "?"}** on ${text(a.exchange) ?? "?"} | Net APR: ${fmtApr(a.netApr)} | Gross APR: ${fmtApr(a.apr)} | Rate: ${fmtRate(finiteOrNull(a.fundingRate))} per ${finiteOrNull(a.intervalHours) ?? "?"}h | Dir: ${text(a.direction) ?? "?"} | OI ${fmtUsd(finiteOrNull(a.perpOpenInterestUsd))} | ${statusSuffix(a)}`);
         }
     }
     else {
@@ -698,72 +562,34 @@ export async function findOpportunities(callApi) {
     }
     // Cross-exchange funding arb
     if (crossEx.data) {
-        const cxList = listRows(crossEx.data);
-        if (cxList && cxList.length > 0) {
-            // Executable rows (book-priced and fresh) rank first on net APR, which
-            // prices the entry spread; indicative rows follow on gross APR.
-            const executable = (a) => a.executionStatus != null
-                ? a.executionStatus === "executable"
-                : a.netApr != null;
-            const grossApr = (a) => a.apr ?? a.spread_apr ?? a.annualized_apr;
-            const sorted = [...cxList].sort((a, b) => {
-                const aExec = executable(a);
-                const bExec = executable(b);
-                if (aExec !== bExec)
-                    return aExec ? -1 : 1;
-                return aExec
-                    ? sortKey(b.netApr) - sortKey(a.netApr)
-                    : sortKey(grossApr(b)) - sortKey(grossApr(a));
-            });
-            lines.push("");
-            lines.push("### Cross-Exchange Funding Arb (Top 10)");
-            lines.push("*Long on low-rate exchange, short on high-rate exchange*");
-            lines.push(`*Both legs have at least ${floorLabel} open interest and 24h volume. Executable (book-priced) rows rank first by net APR, then indicative rows by gross APR.*`);
-            lines.push("");
-            for (const a of sorted.slice(0, 10)) {
-                const symbol = String(a.symbol ?? a.coin ?? "?");
-                const longEx = String(a.longExchange ?? a.long_exchange ?? a.exchange_long ?? "?");
-                const shortEx = String(a.shortExchange ?? a.short_exchange ?? a.exchange_short ?? "?");
-                const spread = finiteOrNull(a.spreadRate ?? a.spread ?? a.spread_rate);
-                lines.push(`  **${symbol}** | Long ${longEx} / Short ${shortEx} | Net APR: ${fmtApr(a.netApr)} | Gross APR: ${fmtApr(grossApr(a))} | Spread: ${fmtRate(spread)} | ${executable(a) ? "executable" : "indicative"}`);
-            }
+        const rows = listRows(crossEx.data) ?? [];
+        lines.push("");
+        lines.push("### Cross-Exchange Funding Arb (Top 10)");
+        lines.push("*Long on low-rate exchange, short on high-rate exchange*");
+        lines.push(`*Both legs have at least ${floorLabel} open interest and 24h volume, in the API's order: executable (book-priced) rows first by net APR, then indicative rows by gross APR.*`);
+        lines.push("");
+        if (rows.length === 0) {
+            lines.push("  *No cross-exchange row clears the liquidity floor.*");
         }
-        else {
-            lines.push("\n*No cross-exchange opportunities found*");
+        for (const a of rows.slice(0, 10)) {
+            lines.push(`  **${text(a.symbol) ?? "?"}** | Long ${text(a.longExchange) ?? "?"} / Short ${text(a.shortExchange) ?? "?"} | Net APR: ${fmtApr(a.netApr)} | Gross APR: ${fmtApr(a.apr)} | Spread: ${fmtRate(finiteOrNull(a.spreadRate))} | ${statusSuffix(a)}`);
         }
     }
     else {
         lines.push("\n*Cross-exchange arbitrage data unavailable*");
     }
-    // Funding rate summary. `rate` is per the row's own interval, so a raw
-    // average mixed 1h, 4h and 8h units; average APR over liquid markets.
-    if (fundingRows && fundingRows.length > 0) {
-        const valid = fundingRows.filter((r) => (r.rate ?? r.funding_rate) != null);
-        const liquid = valid.filter((r) => !isStaleRow(r) &&
-            intervalHours(r) != null &&
-            meetsLiquidityFloor(r.open_interest));
-        if (liquid.length > 0) {
-            const aprs = liquid.map(aprVal);
-            const avg = aprs.reduce((a, b) => a + b, 0) / aprs.length;
-            const positive = aprs.filter((v) => v > 0).length;
-            const negative = aprs.filter((v) => v < 0).length;
-            lines.push("");
-            lines.push("### Funding Rate Summary");
-            lines.push(`*${liquid.length} of ${valid.length} markets: fresh, with at least ${floorLabel} open interest and a published settlement interval.*`);
-            lines.push(`**Avg APR:** ${fmtApr(avg)} (rate x 8760 / interval_hours, averaged across markets)`);
-            lines.push(`**Positive (longs pay):** ${positive} | **Negative (shorts pay):** ${negative}`);
-            const sentiment = positive > negative * 1.5
-                ? "bullish"
-                : negative > positive * 1.5
-                    ? "bearish"
-                    : "neutral";
-            lines.push(`**Market Sentiment:** ${sentiment} (based on funding rate skew)`);
-        }
-    }
-    if (errors.length > 0) {
+    // Funding rate summary: the API's market stats.
+    const market = safeGet(funding.data, "market");
+    if (isRecord(market)) {
         lines.push("");
-        lines.push(`**Data gaps:** ${errors.join("; ")}`);
+        lines.push("### Funding Rate Summary");
+        lines.push("*The API's market stats: the fresh primary contract of every (venue, asset), all asset classes.*");
+        lines.push(`**Avg APR:** ${fmtApr(market.funding_apr_mean)} | **OI-weighted APR:** ${fmtApr(market.funding_apr_oi_weighted)}`);
+        lines.push(`**Positive (longs pay):** ${finiteOrNull(market.positive) ?? "N/A"} | **Negative (shorts pay):** ${finiteOrNull(market.negative) ?? "N/A"}`);
+    }
+    else {
+        lines.push("\n*Funding rate data unavailable*");
     }
-    return lines.join("\n");
+    return finish(lines, settled);
 }
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