FYBIT Index Price
The FYBIT Index Price is a reference price designed to reflect the broader market, not the price of a single exchange. It is calculated from multiple price sources and includes outlier protection to reduce the impact of extreme quotes.
Supported cryptocurrencies on FYBIT
The following cryptocurrencies are available on the FYBIT trading platform.
Aave (AAVE)
Algorand (ALGO)
ApeCoin (APE)
Arbitrum (ARB)
Avalanche (AVAX)
Axie Infinity (AXS)
Band Protocol (BAND)
Bitcoin (BTC)
Bitcoin Cash (BCH)
Cardano (ADA)
Chainlink (LINK)
Compound (COMP)
Decentraland (MANA)
dYdX (DYDX)
Ethereum (ETH)
Flare (FLR)
Injective (INJ)
Internet Computer (ICP)
Jupiter (JUP)
Litecoin (LTC)
Loopring (LRC)
NEAR Protocol (NEAR)
Ondo Finance (ONDO)
Optimism (OP)
Polkadot (DOT)
Ripple (XRP)
Solana (SOL)
Storj (STORJ)
Sui (SUI)
Synthetix (SNX)
The Sandbox (SAND)
Uniswap (UNI)
dogwifhat (WIF)
Index price sources
The FYBIT Index Price is based on weighted average price quotes from these exchanges.
HTX
Coinbase
Bybit
Binance
Bitfinex
How the FYBIT Index Price is calculated
1. FYBIT collects spot price quotes for an asset from the exchanges listed above.
2. FYBIT removes the lowest quote and the highest quote from the set of collected prices.
3. FYBIT calculates a weighted average of the remaining quotes.
4. The result is the FYBIT Index Price.
This approach reduces the influence of extreme values, including short term spikes and abnormal prints, while keeping the index aligned with the active market.
Example
Assume the current quotes are:
1000 from HTX
1010 from Coinbase
1020 from Bybit
1030 from Binance
1040 from Bitfinex
FYBIT excludes the minimum and maximum quotes, which are 1000 from HTX and 1040 from Bitfinex. The index is then calculated from the remaining exchanges.
Coinbase at 1010
Bybit at 1020
Binance at 1030
The FYBIT Index Price is the weighted average of those remaining quotes.
If an exchange becomes unavailable
If one or more source exchanges suspend service or cannot provide quotes due to technical issues, FYBIT will calculate the index using the same method, based on the remaining active exchanges from the list above.
Changes to sources and weights
FYBIT may update the list of price sources and adjust weights to maintain index quality and stability. FYBIT will publish a notice before changes take effect.
FAQ
What is an index price?
An index price is a composite reference price derived from multiple exchanges, intended to represent the broader market price rather than a single venue.
Why exclude the minimum and maximum quotes?
To reduce the impact of extreme values, including abnormal prints and temporary dislocations, and to make the index more stable.
Are the quotes weighted?
Yes. FYBIT uses a weighted average of the remaining exchanges after removing the lowest and highest quote.
What happens if too few exchanges are available?
FYBIT will continue using the remaining active exchanges from the approved source list. If market conditions require additional safeguards, FYBIT may apply additional protections and will publish a notice.