SYS / METHOD
DOCUMENT / TRACEABLE
/// TECHNICAL DOSSIER

Every number
leaves a trail.

This document defines what RAKE measures, how route costs are normalised and what the current model cannot prove. The house takes a rake. That's the deal. We count it.

01 / COST MODEL

One comparison surface.

For notional S, venue V and asset A, every route is reduced to fee, observed spread and size-dependent impact.

depth = V.depthUsd × A.depthMult
impactBps = 100 × (S / depth)
totalBps = feeBps + spreadBps + impactBps
costUsd = S × totalBps / 10,000
rakeUsd = worst.costUsd − best.costUsd
02 / PIPELINE

From reference to receipt.

01
Read reference

Acquire the asset mid and retain source age.

02
Snapshot depth

Read public liquidity and request an RFQ estimate.

03
Normalise

Convert each cost component into comparable basis points.

04
Stress size

Exclude routes without sufficient one-sided depth.

03 / LIMITS

What this cannot tell you yet.

  • Every published number retains its source, block height and observation time.
  • An RFQ quote is not the same thing as the top of a public order book.
  • Assets without enough depth are excluded rather than guessed.
  • Every published figure carries its evidence count.
  • Gas is currently subsidised by Robinhood; receipts print it at $0.00 until 2026-09-30. A fairer comparison arrives in October.

We don't say it's unfair. We say it's unprinted.

04 / PLANNED SOURCES

Traceable by construction.

Once connected, RAKE will read reference prices, RFQ responses, public venue liquidity and Blockscout transaction receipts. Analytics only · no custody · not investment advice.