In Levana Perps, different markets and different networks will use different data sources for their spot price feed. Currently, this includes the Pyth Network oracles, Sei’s native oracles, and Stride’s redemption rate contracts, though additional data sources may be added in the future. Due to the nature of the blockchain, price updates from many of these sources will come in more quickly than chain block time. And to conserve gas costs, not every price update will be submitted on the chain. Additionally, not every data source has a trading view-compatible data feed available.
The Tradingview data should be taken as an advisory for making intelligent trading decisions, not as a source of truth for your transactions. Ultimately, on-chain oracles and the Levana market contracts themselves are the only data sources used to determine entry and exit prices and to execute limit and trigger orders. Over time, we will strive to make data in TradingView reflect the data sources for the contracts as accurately as possible. However, for now, the following caveats apply:
- Generally, Pyth price updates come in approximately every 100ms, which is faster than the block time of any chain in which Levana is deployed. Additionally, due to gas costs with Pyth updates, Levana price bots will intentionally hold off on price updates until the price delta is high enough to warrant an update. As a result, many data points in tradingview will not be present in the contracts.
- While we use Sei native oracles on the Sei network, we still use Pyth price feeds for the tradingview charts. As a result, there may be discrepancies in some price points.
- For staked tokens, in particular Stride’s stATOM, we calculate a spot price of the current Pyth price times the redemption rate available on the chain. We do not currently have a data feed for this in Tradingview; instead, show the raw ATOM value multiplied by the current redemption rate. We intend to improve this going forward.
- To avoid depegging events from causing mass liquidations, we do not take stablecoin to USD rate into account when calculating spot price. We intentionally use USD trading pairs in our tradingview charts, which may have discrepancies from stablecoin trading pairs.
- Centralized price feeds: generally Levana strives to use decentralized oracles for all market price feeds. In some circumstances, such a price feed is unavailable, and we will use a more centralized price feed. At time of writing, this applies to the redemption rates for Stride assets (stATOM and stOSMO), as well as SommFinance's YieldETH. This introduces a centralization risk that users should be aware of.