Stock tokens trade around the clock, so there is no literal gap in the token price — it moves all night. The gap only exists on the underlying, and no feed will hand you that. So this settles on something that is actually oracleable: the overnight move, closing bell to opening bell.
At 16:00 ET the closing bell rings, tonight’s ticker is revealed, and betting opens. At 09:00 ET betting locks. At 09:30 ET the opening bell settles it. The move is measured between two 30-minute price averages, one on each side of the night.
| Bucket | Overnight move |
|---|---|
| HARD DOWN | below −2.00% |
| DOWN | −2.00% to −0.50% |
| FLAT | −0.50% to +0.50% |
| UP | +0.50% to +2.00% |
| HARD UP | above +2.00% |
It is parimutuel: the losing buckets fund the winner. FLAT is counter-intuitively the hardest call, which is why it pays the most.
A position taken at 16:01 counts ×1.5. One taken at 09:00 counts ×1.0, decaying linearly in between. This rewards conviction, not last-minute information.
Consecutive correct nights multiply your stake: ×1.15, ×1.3, ×1.5, ×1.75, ×2.0, capped at five. Being wrong breaks it. Being absent breaks it too. So does hedging — backing more than one bucket is not a prediction, and without that rule a dust bet on all five would buy a permanent ×2.0 for nothing. A voided night never happened, and leaves your streak intact.
Trading $GAP costs 0.30% while the NYSE is open, 1.00% overnight and 1.50% across a weekend — the spread widens after hours because that is what really happens. The premium above the base fee goes straight into tonight’s pot. You are not playing a bare parimutuel; you are playing one that traders are topping up all night.
Friday’s close to Monday’s open is 65 hours. Triple pot, top fee tier, and the ticker is always HOOD.
If the feed goes dark, returns too few prices, or reports a move beyond ±15% — a halt, a split, a broken oracle — the night is void. Every stake is refunded in full, the accumulated premium rolls into the next night, and no streak is broken. A wrong settlement is worse than no settlement, so everything fails closed.
There is no owner, no pause, no upgrade and no privileged path that can move player funds. The ticker rotation is an immutable list. Every transition is a function of the clock and the oracle. The calendar — holidays, daylight saving, early closes — is computed on-chain rather than tabulated, so it can never expire and strand the contract.