In a perpetuals exchange like BSX, the oracle plays a crucial role by providing external price feeds that drive the funding rate and liquidation process. When selecting an oracle, BSX prioritizes performance to meet trader needs efficiently and cost-effectively. BSX relies on Stork, an ultra-low-latency, decentralized, hybrid oracle network. Stork focuses on high performance, ensuring reference prices are available with millisecond precision, similar to centralized exchanges (CEXs) and traditional financial (TradFi) venues. Stork's innovative hybrid on/off-chain architecture involves initial off-chain processing followed by on-chain price updates for BSX. This approach is essential for sustaining a high-performing decentralized exchange (DEX). It sets Stork apart from purely on-chain oracles, which provide less frequent price updates. In situations where pure on-chain oracles are used, less frequent updates can pose challenges, especially with long-tail assets, when gas fees surpass on-chain demand. Additionally, during significant market volatility, purely on-chain models are less effective compared to the adaptable hybrid on/off-chain models of Stork. BSX benefits from Stork's system, obtaining robust, cost-effective, and high-performance reference prices, while minimizing the risk of pricing vulnerabilities across a diverse range of assets. Stork meticulously selects publishers and data sources for their reliability in delivering low-latency price updates. The chosen methodologies are designed to help Stork clients achieve targeted outcomes and undergo continuous evolution. Each publisher within Stork's network contributes both index and mark prices for the supported markets, following established calculations for both index and mark prices. For a more detailed understanding of Stork's oracle architecture, please refer to their documentation here - Stork Documentation BSX utilizes two price feeds from Stork: Mark Perp Index Price This is the median perp price across Binance, OKx, and ByBit. The price is normalized using the median of the USDT-USD spot price across Coinbase, Kraken, and BinanceUS. Refer to the formula below for a better understanding: Mark Price = median(Perp Price1, Perp Price2, ..., Perp Pricen) / median(USDT/USD1, USDT/USD2, ..., USDT/USDn) The mark perp index price is used for:

• Calculating estimated PnL

• Determining when a user's position is liquidated Index Price This is the median of the Last Trade Price from spot markets on Binance, Coinbase Pro, Kraken, and OKx. The index price is used in calculating the funding rate, as explained in the funding rate section. Trading on BSX - Previous BSX Risk Engine Next - Trading on BSX Funding Rates Last modified 21 days ago

In a perpetuals exchange like BSX, the oracle plays a crucial role by providing external price feeds that drive the funding rate and liquidation process. When selecting an oracle, BSX prioritizes performance to meet trader needs efficiently and cost-effectively. BSX relies on Stork, an ultra-low-latency, decentralized, hybrid oracle network. Stork focuses on high performance, ensuring reference prices are available with millisecond precision, similar to centralized exchanges (CEXs) and traditional financial (TradFi) venues. Stork's innovative hybrid on/off-chain architecture involves initial off-chain processing followed by on-chain price updates for BSX. This approach is essential for sustaining a high-performing decentralized exchange (DEX). It sets Stork apart from purely on-chain oracles, which provide less frequent price updates. In situations where pure on-chain oracles are used, less frequent updates can pose challenges, especially with long-tail assets, when gas fees surpass on-chain demand. Additionally, during significant market volatility, purely on-chain models are less effective compared to the adaptable hybrid on/off-chain models of Stork. BSX benefits from Stork's system, obtaining robust, cost-effective, and high-performance reference prices, while minimizing the risk of pricing vulnerabilities across a diverse range of assets. Stork meticulously selects publishers and data sources for their reliability in delivering low-latency price updates. The chosen methodologies are designed to help Stork clients achieve targeted outcomes and undergo continuous evolution. Each publisher within Stork's network contributes both index and mark prices for the supported markets, following established calculations for both index and mark prices. For a more detailed understanding of Stork's oracle architecture, please refer to their documentation here - Stork Documentation BSX utilizes two price feeds from Stork: Mark Perp Index Price This is the median perp price across Binance, OKx, and ByBit. The price is normalized using the median of the USDT-USD spot price across Coinbase, Kraken, and BinanceUS. Refer to the formula below for a better understanding: Mark Price = median(Perp Price1, Perp Price2, ..., Perp Pricen) / median(USDT/USD1, USDT/USD2, ..., USDT/USDn) The mark perp index price is used for:

• Calculating estimated PnL

• Determining when a user's position is liquidated Index Price This is the median of the Last Trade Price from spot markets on Binance, Coinbase Pro, Kraken, and OKx. The index price is used in calculating the funding rate, as explained in the funding rate section. Trading on BSX - Previous BSX Risk Engine Next - Trading on BSX Funding Rates Last modified 21 days ago