> For the complete documentation index, see [llms.txt](https://docs.jaawle.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jaawle.xyz/assets-and-prices/price-feeds.md).

# Price feeds

Every market is priced from a Pyth feed. The platform reads the feed continuously, builds the chart from it, and pushes one price a minute on-chain during the session. The contracts only ever act on the on-chain price.

## What feeds each market

| Market kind     | Feed                                                                                      | Publishes        |
| --------------- | ----------------------------------------------------------------------------------------- | ---------------- |
| Stocks and ETFs | the tokenized share's own feed (xStocks), the price of the share's token on crypto venues | around the clock |
| Crypto          | the asset's native feed                                                                   | around the clock |

The exchange's own equity feeds sit on a higher Pyth plan. The tokenized feeds are what the platform is entitled to today; they track the stock closely during the session and drift with the token's own market outside it. Switching a stock market to the exchange feed is a configuration change.

## The confidence band

Every Pyth print comes with a confidence band. The platform uses it as the spread: a long enters at the mid plus the band and exits at the mid minus it, a short the reverse. Triggers are measured against the same side.

A print whose band is wider than the market's limit is refused on-chain and kept off-chain by the platform, so the last good price ages into a closing mark instead of poisoning the market. Equity feeds widen sharply after the close, which is the case this guards against.

## What the contracts refuse

The on-chain feed is fail-closed. It reverts, rather than returning a number, when a print is:

* older than the market's maximum age;
* wider than the market's confidence limit;
* further from the last accepted price than the market's deviation limit.

Nothing that moves value can execute against a price the feed refuses.

## The session and the closing mark

For stocks and ETFs the platform publishes the NYSE session on-chain: regular, extended, or closed. While the session is closed, a stock's last accepted price is served as a closing mark, with no spread, for up to a few days. NAV and the index remain readable on it; opens, closes, liquidations and triggers wait for the next live print.

During those hours the platform also stops pushing stock prices on-chain, even though the tokenized feed keeps printing. The mark the perp uses is where the stock last traded, not where the token drifted overnight. The chart keeps showing the token's path, dimmed, so nothing is hidden.

## Charts

Charts are built from one-minute candles the platform samples every few seconds from the feed, with the notional of each fill as volume. History before the platform started listening is filled from Pyth's own history, so a chart shows the past, not just the time since listing. Every resolution is a roll-up of the same minute bars.


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