421 spreads. 48 month-pairs. One liquid core.

Every dot is a real expiring instrument: x = tenor, y = lifetime volume (log), size ∝ bars, colour = average regime. The 1-month tenor carries 274M of the ~400M total volume — that's where the edge is tradeable. Hover any dot; filter by tenor; sort the table.

The spread always comes home.

A single outright price trends and gaps. A spread breathes around a mean — the statistical foundation of the whole game. Here's a flagship spread's full life with its mean and ±2σ band. Trade the band, not the trend.

"Buy the −2σ, sell the mean. The carry pays you to wait."