We reduced the internal oracle time constant from 8 hours to 1 hour for equity perpetuals.
Effect in Practice
Faster reflection of price discovery - during closed sessions, the oracle now tracks orderflow with a shorter time constant, reducing the gap between “traded price” and oracle.
Lower funding drag on genuine moves - traders who are directionally right on gap moves keep more of the move (87% vs 10%); shorts who sit through those gaps receive much less funding compensation.
Same safety properties - the 1 / max_leverage band on mark vs last external spot still limits single-tick jumps and weekend bands in mark.
