> ## Documentation Index
> Fetch the complete documentation index at: https://docs.simplefunctions.dev/llms.txt
> Use this file to discover all available pages before exploring further.

# Indicators

> IY, CRI, OR, EE, LAS, τ, RV, CVR — what each computed market number means and where it lives.

SimpleFunctions computes a small set of indicators on every market on every scan tick. Each is exposed in `inspect`, `screen`, `query`, and the world snapshot.

## Implied Yield (IY)

Annualized return-to-resolution if the contract resolves YES (or NO) at 100¢, given current price and time-to-expiry.

```text theme={null}
IY_yes  =  (100 - price) / price  ×  (365 / tau_days)  ×  100%
IY_no   =  (price       / (100 - price))  ×  (365 / tau_days)  ×  100%
```

`adjIY` adjusts for spread and slippage at typical liquidity.

## Cliff Risk Index (CRI)

How "cliff-shaped" the resolution payoff is. Higher CRI = more binary resolution risk; markets with low CRI behave more like continuous probability bets.

## Event Overround (OR / EE)

For multi-outcome events, sum the YES asks across all outcomes:

```text theme={null}
OR  =  Σ ask_yes_cents  −  100
EE  =  same idea, but using mid prices
```

`OR > 0` means book maker margin. `OR < 0` means structural arb (rare; usually a stale book).

## Liquidity-Adjusted Spread (LAS)

Composite of bid/ask spread and depth on top-of-book. Lower LAS = tighter, deeper book.

## Time-to-resolve (τ, tau\_days)

Days remaining until market closes.

## Realized Volatility (RV)

Standard deviation of recent price changes, annualized.

## Cross-Venue Ratio (CVR)

```text theme={null}
CVR  =  cross_venue_gap_cents  /  price_cents
```

Where `cross_venue_gap_cents` is the price difference between the Kalshi and Polymarket counterpart pair, when one exists.

## Where they live

| Field | Source |
| - | - |
| `iyYes`, `iyNo`, `adjIy` | `market_indicators.iy_yes` |
| `cri` | `market_indicators.cri` |
| `ee`, `or` | `market_indicators.ee` |
| `las` | `market_indicators.las` |
| `tauDays` | `market_indicators.tau_days` |
| `rv` | `market_regimes.signals.rv` |
| `cvr` | derived in `lib/indicators/compute.ts` |

## Compute cadence

Indicators recompute every scan tick (default 5min for active markets, longer for tail). The `compute-indicators` cron writes to `market_indicators`.

## Next steps

<CardGroup cols={2}>
  <Card title="Regime" href="/concepts/regime">
    How regime label combines indicators.
  </Card>

  <Card title="Idea pipeline" href="/concepts/idea-pipeline">
    Which indicators drive idea generation.
  </Card>
</CardGroup>


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