147 cascade events. $23.96B liquidation notional. 91.0% cross-venue confirmation. All audit-grade. All reproducible.
Documented, cross-venue confirmed, reproducible during evaluation. Each flagged by CRI with material lead time before forced selling accelerated.
Also documented · BTC $1.041B (163-min lead, 17 Apr 2026) · BTC $957.2M (170-min lead, 7 Jun 2026). Most recent · ETH $445.9M (135-min lead, 15 Jun 2026 · cross-venue confirmation pending daily enrichment).
Across the full archive, BTC and ETH together account for 70.6% of liquidation notional analyzed. Cascade risk in perpetual futures is concentrated — which is exactly why deep-archive coverage of the majors matters more than breadth across thin markets.
It is also why cross-asset contagion is the second-order risk: when the two dominant markets move together, the system moves with them.
Distribution of CRI lead time across documented cascades. The majority land in the 60–160 minute window — enough time for a risk officer to act before forced selling accelerates.
Two layers of evidence. Real-time detection — the terminal catches contagion as it fires; most recently on 15 June 2026, four assets (ETH, SOL, BTC, BNB) shared a cascade onset inside a 14-minute window. Statistical validation — cross-asset clusters are tested against a null model built by randomly shuffling cascade onset times, repeated 10,000 times on the calibrated archive. Four clusters meet strict criteria (2+ symbols, 20-minute peak window, legs ≥$100M each); the validated clustering occurs roughly 600× more often than chance, at p<0.0001.
Every cascade event has a source_hash and inputs_json capturing the exact data that produced it.
Re-run any event during the evaluation period and get the same result. Deterministic, manifest-backed.
Every published figure traces to SQL. Built so a risk team can verify any claim against its underlying data.