Documentation Index
Fetch the complete documentation index at: https://docs.parquet.exchange/llms.txt
Use this file to discover all available pages before exploring further.
Parquet lists 15 active markets across three categories. Each market represents synthetic long/short exposure to a real-world reference price aggregated from Alpaca and Finnhub WebSocket feeds.
Large-cap US equities
Eleven single-name equity perps tracking large-cap US-listed stocks.
| Symbol | Name | Description |
|---|
| AAPL | Apple | Consumer tech and services |
| MSFT | Microsoft | Cloud, productivity software |
| NVDA | Nvidia | GPU and accelerated-compute silicon |
| GOOGL | Alphabet (Class A) | Google search, ads, cloud |
| AMZN | Amazon | E-commerce and AWS |
| META | Meta Platforms | Social platforms, ads, AR/VR |
| TSLA | Tesla | Electric vehicles, energy |
| COIN | Coinbase | Crypto exchange |
| MSTR | Strategy (formerly MicroStrategy) | BTC-treasury equity proxy |
| PLTR | Palantir | Defense and enterprise analytics |
| AMD | Advanced Micro Devices | CPU and GPU silicon |
Equity ETFs
Broad-index ETFs that track major US benchmarks.
| Symbol | Name | Description |
|---|
| SPY | SPDR S&P 500 ETF Trust | S&P 500 broad-market ETF |
| QQQ | Invesco QQQ Trust | Nasdaq-100 ETF |
Commodity / sector ETFs
| Symbol | Name | Description |
|---|
| GLD | SPDR Gold Shares | Spot-gold-backed ETF |
| USO | United States Oil Fund | WTI crude-oil exposure via near-month futures |
How pricing works
Prices on Parquet come from US equity market data, aggregated and validated through multiple layers:
- Streaming WebSockets. The off-chain price-pusher subscribes to Alpaca (trades + quotes, IEX feed on the free tier) and Finnhub (trades) over WebSocket. Alpaca free tier caps subscriptions at 30 channels — 15 symbols × (trades + quotes) = 30, so every active market is covered.
- Aggregation. The aggregator runs with
minSources: 1, trustedSource: "alpaca". Alpaca is the canonical feed; Finnhub backstops it. Outlier rejection and source weighting happen here before anything reaches the chain.
- On-chain push. Aggregated prices are pushed to the
PriceFeed PDA every 1 second, gated by deviation. Default thresholds are 15 bps move or a 5-second heartbeat. Higher-volatility names (TSLA, MSTR, COIN) push at 10 bps; ETFs push at 8 bps with a 10-second heartbeat.
- Oracle validation. The
oracle_adapter program validates each price update for staleness and timestamp before any perp_engine instruction can use it. maxDeviationBps is set to 0 (disabled) on-chain — the off-chain aggregator already handles bad-data rejection, and disabling the on-chain circuit breaker lets Monday-morning gap opens process cleanly.
Regular Trading Hours and the weekend halt
Parquet only quotes prices during US Regular Trading Hours: Mon–Fri 09:30–16:00 ET, minus US market holidays and early-close days.
The behavior is enforced by the data layer, not by a contract flag. Outside RTH the price-pusher’s push loop short-circuits — Alpaca’s WebSocket has no trades to forward, no on-chain price update lands, the PriceFeed PDA’s ts ages past the staleness threshold, and every state-changing instruction in perp_engine reverts on the oracle CPI with PriceStale. This means:
- Existing positions stay open across nights, weekends, and holidays. They accrue funding and borrow fees continuously, but cannot be modified or liquidated until the next session opens.
- New opens, closes, margin updates, and liquidations all revert outside RTH. The frontend’s
MarketClosedBanner polls the indexer’s GET /market-hours route (which proxies Alpaca’s /v2/clock and /v2/calendar with a 30-second cache) every 60 seconds and surfaces the halt before you sign anything.
- Inert markets. SMCI’s
market_state PDA exists on-chain but has no pusher feed — its oracle is always stale and opens always revert. It is intentionally non-tradeable; only the 15 markets above are active.
Per-market parameters
These apply across all 15 markets unless overridden:
| Parameter | Value |
|---|
| Max leverage | 250× |
| Initial margin requirement | 40 bps (0.4%) |
| Maintenance margin ratio | 20 bps (0.2%) |
| Liquidation fee | 50 bps of remaining collateral |
| Funding cap | 10 bps / hour |
| Open-interest cap | $50,000 per side per market |
On-chain maxDeviationBps | 0 (disabled — off-chain aggregator handles it) |
