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22 changes: 11 additions & 11 deletions benchmarks/perp-pe-ratio.yml
Original file line number Diff line number Diff line change
Expand Up @@ -41,7 +41,7 @@ methodology:
- "FDV source: CoinGecko /coins/markets fully_diluted_valuation (falls back to market_cap if FDV null). dYdX is priced on the dYdX Chain token (CoinGecko dydx-chain)."
- "P/E = FDV / annual_revenue. Null if FDV or revenue unavailable."
- "Protocols whose adapter publishes no revenue series (Aster, Avantis, Orderly) or reports zero (Drift perps) have no P/E; see bench 265 for their price to fees."
- "Poll cadence: harness fetches DeFiLlama + CoinGecko every 60 minutes. Prometheus scrapes :2112/metrics every 60s."
- "Poll cadence: harness fetches DeFiLlama + CoinGecko every 60 minutes. Prometheus scrapes :2112/metrics every 60s. The sample count per row is the number of scrapes in the 24h window, not a count of trades."

findings:
- "{{best_name}} has the lowest P/E at {{best_p50}}x; cheapest perp DEX token relative to protocol earnings."
Expand Down Expand Up @@ -76,7 +76,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="hyperliquid"}
mean: perp_protocol_pe_ratio{protocol="hyperliquid"}
success: perp_protocol_health{protocol="hyperliquid"}
sample_size: perp_protocol_pe_ratio{protocol="hyperliquid"}
sample_size: count_over_time(perp_protocol_health{protocol="hyperliquid"}[24h])
series: perp_protocol_pe_ratio{protocol="hyperliquid"}

- slug: gmx
Expand All @@ -89,7 +89,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="gmx"}
mean: perp_protocol_pe_ratio{protocol="gmx"}
success: perp_protocol_health{protocol="gmx"}
sample_size: perp_protocol_pe_ratio{protocol="gmx"}
sample_size: count_over_time(perp_protocol_health{protocol="gmx"}[24h])
series: perp_protocol_pe_ratio{protocol="gmx"}

- slug: gains
Expand All @@ -102,7 +102,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="gains"}
mean: perp_protocol_pe_ratio{protocol="gains"}
success: perp_protocol_health{protocol="gains"}
sample_size: perp_protocol_pe_ratio{protocol="gains"}
sample_size: count_over_time(perp_protocol_health{protocol="gains"}[24h])
series: perp_protocol_pe_ratio{protocol="gains"}

- slug: dydx
Expand All @@ -115,7 +115,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="dydx"}
mean: perp_protocol_pe_ratio{protocol="dydx"}
success: perp_protocol_health{protocol="dydx"}
sample_size: perp_protocol_pe_ratio{protocol="dydx"}
sample_size: count_over_time(perp_protocol_health{protocol="dydx"}[24h])
series: perp_protocol_pe_ratio{protocol="dydx"}

- slug: drift
Expand All @@ -128,7 +128,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="drift"}
mean: perp_protocol_pe_ratio{protocol="drift"}
success: perp_protocol_health{protocol="drift"}
sample_size: perp_protocol_pe_ratio{protocol="drift"}
sample_size: count_over_time(perp_protocol_health{protocol="drift"}[24h])
series: perp_protocol_pe_ratio{protocol="drift"}

- slug: lighter
Expand All @@ -141,7 +141,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="lighter"}
mean: perp_protocol_pe_ratio{protocol="lighter"}
success: perp_protocol_health{protocol="lighter"}
sample_size: perp_protocol_pe_ratio{protocol="lighter"}
sample_size: count_over_time(perp_protocol_health{protocol="lighter"}[24h])
series: perp_protocol_pe_ratio{protocol="lighter"}

- slug: jupiter
Expand All @@ -154,7 +154,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="jupiter"}
mean: perp_protocol_pe_ratio{protocol="jupiter"}
success: perp_protocol_health{protocol="jupiter"}
sample_size: perp_protocol_pe_ratio{protocol="jupiter"}
sample_size: count_over_time(perp_protocol_health{protocol="jupiter"}[24h])
series: perp_protocol_pe_ratio{protocol="jupiter"}

- slug: apex
Expand All @@ -167,7 +167,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="apex"}
mean: perp_protocol_pe_ratio{protocol="apex"}
success: perp_protocol_health{protocol="apex"}
sample_size: perp_protocol_pe_ratio{protocol="apex"}
sample_size: count_over_time(perp_protocol_health{protocol="apex"}[24h])
series: perp_protocol_pe_ratio{protocol="apex"}

- slug: synfutures
Expand All @@ -180,7 +180,7 @@ providers:
p99: perp_protocol_pe_ratio{protocol="synfutures"}
mean: perp_protocol_pe_ratio{protocol="synfutures"}
success: perp_protocol_health{protocol="synfutures"}
sample_size: perp_protocol_pe_ratio{protocol="synfutures"}
sample_size: count_over_time(perp_protocol_health{protocol="synfutures"}[24h])
series: perp_protocol_pe_ratio{protocol="synfutures"}

- slug: derive
Expand All @@ -193,5 +193,5 @@ providers:
p99: perp_protocol_pe_ratio{protocol="derive"}
mean: perp_protocol_pe_ratio{protocol="derive"}
success: perp_protocol_health{protocol="derive"}
sample_size: perp_protocol_pe_ratio{protocol="derive"}
sample_size: count_over_time(perp_protocol_health{protocol="derive"}[24h])
series: perp_protocol_pe_ratio{protocol="derive"}
42 changes: 21 additions & 21 deletions benchmarks/perp-pf-ratio.yml
Original file line number Diff line number Diff line change
Expand Up @@ -52,7 +52,7 @@ methodology:
- "Drift's DeFiLlama perps adapter (drift-trade) currently reports zero fees; the row stays in the cohort with every ratio undefined until the source recovers."
- "Pre-TGE venues (Ostium, Pacifica, Extended, Nado, Decibel) are declared `unranked` in the spec: they sit under the ranked field with their fees and open interest, are excluded from ranks, leader claims and the best / median / worst strip, and gain a ratio the day a token lists."
- "edgeX (EDGE) and Paradex (DIME) have listed tokens and are ranked. DeFiLlama's fee adapter reports very low fees for Paradex, which inflates its multiple; treat that row with caution until the adapter is fixed upstream."
- "Poll cadence: DeFiLlama and CoinGecko every 60 minutes. Prometheus scrapes :2112/metrics every 60s."
- "Poll cadence: DeFiLlama and CoinGecko every 60 minutes. Prometheus scrapes :2112/metrics every 60s. The sample count per row is the number of scrapes in the 24h window (about 1,440), not a count of trades; p50, p90 and p99 read the same instant gauge, so they are equal by construction."

findings:
- "{{best_name}} is the cheapest perp DEX token at {{best_p50}} annualized fees."
Expand Down Expand Up @@ -176,7 +176,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="hyperliquid"}
mean: perp_protocol_pf_ratio{protocol="hyperliquid"}
success: perp_protocol_health{protocol="hyperliquid"}
sample_size: perp_protocol_fees_30d_usd{protocol="hyperliquid"}
sample_size: count_over_time(perp_protocol_health{protocol="hyperliquid"}[24h])
series: perp_protocol_pf_ratio{protocol="hyperliquid"}

- slug: aster
Expand All @@ -189,7 +189,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="aster"}
mean: perp_protocol_pf_ratio{protocol="aster"}
success: perp_protocol_health{protocol="aster"}
sample_size: perp_protocol_fees_30d_usd{protocol="aster"}
sample_size: count_over_time(perp_protocol_health{protocol="aster"}[24h])
series: perp_protocol_pf_ratio{protocol="aster"}

- slug: lighter
Expand All @@ -202,7 +202,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="lighter"}
mean: perp_protocol_pf_ratio{protocol="lighter"}
success: perp_protocol_health{protocol="lighter"}
sample_size: perp_protocol_fees_30d_usd{protocol="lighter"}
sample_size: count_over_time(perp_protocol_health{protocol="lighter"}[24h])
series: perp_protocol_pf_ratio{protocol="lighter"}

- slug: jupiter
Expand All @@ -215,7 +215,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="jupiter"}
mean: perp_protocol_pf_ratio{protocol="jupiter"}
success: perp_protocol_health{protocol="jupiter"}
sample_size: perp_protocol_fees_30d_usd{protocol="jupiter"}
sample_size: count_over_time(perp_protocol_health{protocol="jupiter"}[24h])
series: perp_protocol_pf_ratio{protocol="jupiter"}

- slug: gmx
Expand All @@ -228,7 +228,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="gmx"}
mean: perp_protocol_pf_ratio{protocol="gmx"}
success: perp_protocol_health{protocol="gmx"}
sample_size: perp_protocol_fees_30d_usd{protocol="gmx"}
sample_size: count_over_time(perp_protocol_health{protocol="gmx"}[24h])
series: perp_protocol_pf_ratio{protocol="gmx"}

- slug: gains
Expand All @@ -241,7 +241,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="gains"}
mean: perp_protocol_pf_ratio{protocol="gains"}
success: perp_protocol_health{protocol="gains"}
sample_size: perp_protocol_fees_30d_usd{protocol="gains"}
sample_size: count_over_time(perp_protocol_health{protocol="gains"}[24h])
series: perp_protocol_pf_ratio{protocol="gains"}

- slug: dydx
Expand All @@ -254,7 +254,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="dydx"}
mean: perp_protocol_pf_ratio{protocol="dydx"}
success: perp_protocol_health{protocol="dydx"}
sample_size: perp_protocol_fees_30d_usd{protocol="dydx"}
sample_size: count_over_time(perp_protocol_health{protocol="dydx"}[24h])
series: perp_protocol_pf_ratio{protocol="dydx"}

- slug: drift
Expand All @@ -267,7 +267,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="drift"}
mean: perp_protocol_pf_ratio{protocol="drift"}
success: perp_protocol_health{protocol="drift"}
sample_size: perp_protocol_fees_30d_usd{protocol="drift"}
sample_size: count_over_time(perp_protocol_health{protocol="drift"}[24h])
series: perp_protocol_pf_ratio{protocol="drift"}

- slug: avantis
Expand All @@ -280,7 +280,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="avantis"}
mean: perp_protocol_pf_ratio{protocol="avantis"}
success: perp_protocol_health{protocol="avantis"}
sample_size: perp_protocol_fees_30d_usd{protocol="avantis"}
sample_size: count_over_time(perp_protocol_health{protocol="avantis"}[24h])
series: perp_protocol_pf_ratio{protocol="avantis"}

- slug: apex
Expand All @@ -293,7 +293,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="apex"}
mean: perp_protocol_pf_ratio{protocol="apex"}
success: perp_protocol_health{protocol="apex"}
sample_size: perp_protocol_fees_30d_usd{protocol="apex"}
sample_size: count_over_time(perp_protocol_health{protocol="apex"}[24h])
series: perp_protocol_pf_ratio{protocol="apex"}

- slug: orderly
Expand All @@ -306,7 +306,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="orderly"}
mean: perp_protocol_pf_ratio{protocol="orderly"}
success: perp_protocol_health{protocol="orderly"}
sample_size: perp_protocol_fees_30d_usd{protocol="orderly"}
sample_size: count_over_time(perp_protocol_health{protocol="orderly"}[24h])
series: perp_protocol_pf_ratio{protocol="orderly"}

- slug: synfutures
Expand All @@ -319,7 +319,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="synfutures"}
mean: perp_protocol_pf_ratio{protocol="synfutures"}
success: perp_protocol_health{protocol="synfutures"}
sample_size: perp_protocol_fees_30d_usd{protocol="synfutures"}
sample_size: count_over_time(perp_protocol_health{protocol="synfutures"}[24h])
series: perp_protocol_pf_ratio{protocol="synfutures"}

- slug: derive
Expand All @@ -332,7 +332,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="derive"}
mean: perp_protocol_pf_ratio{protocol="derive"}
success: perp_protocol_health{protocol="derive"}
sample_size: perp_protocol_fees_30d_usd{protocol="derive"}
sample_size: count_over_time(perp_protocol_health{protocol="derive"}[24h])
series: perp_protocol_pf_ratio{protocol="derive"}

- slug: ostium
Expand All @@ -346,7 +346,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="ostium"}
mean: perp_protocol_pf_ratio{protocol="ostium"}
success: perp_protocol_health{protocol="ostium"}
sample_size: perp_protocol_fees_30d_usd{protocol="ostium"}
sample_size: count_over_time(perp_protocol_health{protocol="ostium"}[24h])
series: perp_protocol_pf_ratio{protocol="ostium"}

- slug: pacifica
Expand All @@ -360,7 +360,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="pacifica"}
mean: perp_protocol_pf_ratio{protocol="pacifica"}
success: perp_protocol_health{protocol="pacifica"}
sample_size: perp_protocol_fees_30d_usd{protocol="pacifica"}
sample_size: count_over_time(perp_protocol_health{protocol="pacifica"}[24h])
series: perp_protocol_pf_ratio{protocol="pacifica"}

- slug: extended
Expand All @@ -374,7 +374,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="extended"}
mean: perp_protocol_pf_ratio{protocol="extended"}
success: perp_protocol_health{protocol="extended"}
sample_size: perp_protocol_fees_30d_usd{protocol="extended"}
sample_size: count_over_time(perp_protocol_health{protocol="extended"}[24h])
series: perp_protocol_pf_ratio{protocol="extended"}

- slug: edgex
Expand All @@ -387,7 +387,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="edgex"}
mean: perp_protocol_pf_ratio{protocol="edgex"}
success: perp_protocol_health{protocol="edgex"}
sample_size: perp_protocol_fees_30d_usd{protocol="edgex"}
sample_size: count_over_time(perp_protocol_health{protocol="edgex"}[24h])
series: perp_protocol_pf_ratio{protocol="edgex"}

- slug: paradex
Expand All @@ -400,7 +400,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="paradex"}
mean: perp_protocol_pf_ratio{protocol="paradex"}
success: perp_protocol_health{protocol="paradex"}
sample_size: perp_protocol_fees_30d_usd{protocol="paradex"}
sample_size: count_over_time(perp_protocol_health{protocol="paradex"}[24h])
series: perp_protocol_pf_ratio{protocol="paradex"}

- slug: nado
Expand All @@ -414,7 +414,7 @@ providers:
p99: perp_protocol_pf_ratio{protocol="nado"}
mean: perp_protocol_pf_ratio{protocol="nado"}
success: perp_protocol_health{protocol="nado"}
sample_size: perp_protocol_fees_30d_usd{protocol="nado"}
sample_size: count_over_time(perp_protocol_health{protocol="nado"}[24h])
series: perp_protocol_pf_ratio{protocol="nado"}

- slug: decibel
Expand All @@ -428,5 +428,5 @@ providers:
p99: perp_protocol_pf_ratio{protocol="decibel"}
mean: perp_protocol_pf_ratio{protocol="decibel"}
success: perp_protocol_health{protocol="decibel"}
sample_size: perp_protocol_fees_30d_usd{protocol="decibel"}
sample_size: count_over_time(perp_protocol_health{protocol="decibel"}[24h])
series: perp_protocol_pf_ratio{protocol="decibel"}
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