1. Normalize the market identity
Core and HIP-3 instruments are assigned canonical market identifiers. This matters because the same display symbol can exist on different builder-deployed DEXs with separate order books, oracle definitions and market settings.
2. Build recent reference distributions
Price returns, open-interest changes, funding and mark-oracle differences are compared with recent observations for the same market. Percentile regions and robust standardized distances describe how unusual the current value is. They do not assign directional certainty.
3. Preserve the condition
An event records the metric, direction, severity path, reference window and market set. Keeping these dimensions explicit prevents unlike situations from being silently combined.
4. Complete forward horizons
Returns are written only when the required future timestamp can be anchored to collected market data. Research summaries use completed observations and report missing anchors or targets as data exceptions rather than filling them with invented values.
5. Summarize distributions
The interface emphasizes median, interquartile range, positive share, sample size and coverage. These are descriptive statistics. They can support hypotheses and strategy research, but a production strategy still needs out-of-sample validation, realistic fees, slippage, liquidity limits and risk controls.
Inspect the resulting research