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Glossary

Terms used across the DataMaxi+ docs and API. Alphabetical. Questions about anything not listed: business@datamaxiplus.com.

Basis​

The difference between the spot price and the futures (typically perpetual) price for the same underlying, usually expressed as a percentage of spot. Positive basis means futures trade above spot (market is in contango); negative basis means futures trade below spot (backwardation).

CEX​

Centralised exchange. Custodial venues like Binance, Bybit, OKX, Upbit, Coinbase. The exchange holds your funds and matches your orders against an internal order book.

DEX​

Decentralised exchange. Non-custodial venues that match orders via on-chain smart contracts (AMMs or order books). Examples: Uniswap, PancakeSwap.

Funding rate​

Periodic cash transfer between long and short holders of a perpetual futures contract. Positive funding means longs pay shorts; negative means shorts pay longs. Paid every settlement interval (commonly 1, 4, or 8 hours). The rate is set by each venue and converges spot/perp prices.

Interval (candle)​

The bucket size for OHLCV candles.

  • 1M — 1 month
  • 1w — 1 week
  • 1d — 1 day
  • 1h — 1 hour
  • 1m — 1 minute

Kimchi premium​

Slang for the price premium of crypto on Korean exchanges (Upbit, Bithumb, Coinone) versus global venues, after converting KRW to a common quote currency (USDT/USD). Driven by capital controls and local demand. Can be positive (Korean price higher) or negative.

Liquidation​

Forced closure of a leveraged position when collateral falls below the maintenance margin. Liquidations are public events on most venues and appear in DataMaxi+'s liquidation endpoints/streams.

Mid-price​

The midpoint of the best bid and best ask: (bid + ask) / 2. Used as a fair-value reference price when both sides of the book are tight.

OHLCV​

Open, High, Low, Close, Volume — the five values that define a single candle bar.

Perpetual (perp)​

A futures contract with no expiry date, kept anchored to spot price via funding rate payments. The dominant derivatives instrument in crypto.

Premium​

Generic term for the relative price difference between two venues (or two markets) for the same instrument. DataMaxi+ exposes this on the /api/v1/premium endpoint, normalised in basis points.

Settlement interval​

The cadence at which funding payments are exchanged on a perpetual contract. Most venues settle every 8 hours; some (Binance USDC pairs, BitMEX) settle every 1 or 4 hours.

Slippage​

The difference between the expected fill price (e.g., mid-price or top-of-book) and the actual average fill price after walking the book. Larger orders have larger slippage. A key cost component in any execution strategy.

Spread​

The difference between the best ask and the best bid on a single venue's order book. Tight spread = liquid market. Also used loosely for any cross-venue or cross-instrument price difference.

Symbol format​

DataMaxi+ uses BASE-QUOTE across all endpoints — e.g., BTC-USDT, ETH-KRW. Not BTC/USDT (Binance style) or BTCUSDT (compact style). Multi-leg WebSocket subscriptions use BASE-QUOTE@EXCHANGE.

Taker / Maker​

A maker order sits on the book and provides liquidity; a taker order crosses the spread and consumes liquidity. Maker fees are usually lower than taker fees. Most arbitrage execution is taker on both legs.