Docs
Index methodology
Panel marks publish from the same tape as Quote. Indices are observational references, not clearing underlyings or settlement instructions.
Per-listing scoring coefficients and CireX component weights are proprietary. Public docs describe what each index measures, not the internal blend.
4.1 CireX: Compute Congestion & Risk Index
Range: 0–100 (higher = more systemic stress)
Scope: Market-wide, workload-independent
CireX is a composite stress index built from capacity-weighted panel signals:
| Component (public) | Meaning |
|---|---|
| Congestion | Share of listed GPU capacity flagged for execution-risk / unreliable-inventory signals |
| Churn | Rate at which listings disappear from the tape over the lookback window |
| Volatility | Dispersion of aggregate spot pricing (capped) |
| Interruption | Panel-wide interruption model pressure (mean SIR) |
Exact component weights and caps are methodology v1 implementation details (not published). Material changes require a version bump (v1 → v2).
4.2 CIX: Compute Integrity Index
Capacity-weighted share of listed GPUs whose signals classify as execution-risk inventory (same family as §3.2; not a claim that hardware is absent):
CIX = execution_risk_capacity / total_capacity × 100
(Internal engine may still label this “ghost inventory” in code; public interpretation is execution-risk share.)
4.3 Basis spread
Median relative gap between naive listed job cost and TRAC on the panel:
Basis_median = median( (listed_job_cost − TRAC) / TRAC )
Reference workload for index publication: 48h · 500 GB (illustrative defaults until caller-specified).
Reminder: TRAC in this ratio uses the modeled risk premium, not calibrated expected loss.
4.4 Co-movement & stress suite
| Tool | Role |
|---|---|
| Provider correlation matrix | Co-movement of capacity-weighted spot moves across providers |
| HHI | Capacity concentration |
| Stress scenarios | Deterministic narrative transforms (e.g. demand spike, deverification wave, churn surge) |