{
  "schemaVersion": "vultax-public-research-data-v1",
  "articleUrl": "https://vultax.com/research/polymarket-bitcoin-up-or-down-5-minute-markets",
  "datasets": [
    {
      "title": "What it costs to play",
      "columns": [
        {
          "name": "Market",
          "unit": null
        },
        {
          "name": "Trades in sample",
          "unit": null
        },
        {
          "name": "Notional",
          "unit": null
        },
        {
          "name": "Taker fee at the published rate",
          "unit": null
        },
        {
          "name": "Share of notional",
          "unit": null
        }
      ],
      "rows": [
        [
          "5-minute",
          "66,448",
          "$987,939",
          "$15,802",
          "1.60%"
        ],
        [
          "15-minute",
          "17,209",
          "$269,656",
          "$6,032",
          "2.24%"
        ],
        [
          "Hourly",
          "2,771",
          "$53,089",
          "$1,060",
          "2.00%"
        ],
        [
          "4-hour",
          "1,120",
          "$23,192",
          "$520",
          "2.24%"
        ]
      ],
      "measurementContext": "Fees are computed from each trade's price and size at the published 0.07 rate, not read from settlement records, and assume the recorded side of each trade is the taker. Sample: up-or-down trades between 15:06 and 18:55 UTC, 12 September 2026. Makers pay no fee and share a 20% rebate.",
      "sources": [
        {
          "label": "Polymarket — BTC Up or Down 5m series",
          "url": "https://gamma-api.polymarket.com/series?slug=btc-up-or-down-5m",
          "note": "Series volume counter read 18:55 UTC, 12 September 2026"
        },
        {
          "label": "Polymarket — Bitcoin Up or Down, 12 September 2:45PM–2:50PM ET",
          "url": "https://gamma-api.polymarket.com/events/slug/btc-updown-5m-1789238700",
          "note": "Market rules, resolution source and fee schedule (crypto_fees_v2, rate 0.07, taker only, 20% rebate)"
        },
        {
          "label": "Chainlink — BTC/USD TWAP 60-second data stream",
          "url": "https://data.chain.link/streams/btc-usd-twap-60s-streams",
          "note": "Resolution source named in the market rules"
        },
        {
          "label": "Polymarket — trading fees",
          "url": "https://docs.polymarket.com/trading/fees",
          "note": "Taker formula and category rates; read 2026-09-12"
        },
        {
          "label": "Pine Analytics — Polymarket fee rollout",
          "url": "https://pineanalytics.substack.com/p/polymarket-fee-rollout",
          "note": "Third-party reconstruction of the fee timeline; not a Polymarket announcement"
        },
        {
          "label": "Vultax: 1.6% of Polymarket wallets never sleep",
          "url": "https://vultax.com/research/polymarket-wallets-that-never-sleep-trading-cadence",
          "note": "Always-on wallets and their share of trades"
        },
        {
          "label": "Vultax: Polymarket copy trading costs",
          "url": "https://vultax.com/research/polymarket-copy-trading-costs-and-tools",
          "note": "Fee arithmetic for followers"
        },
        {
          "label": "Vultax: Is Polymarket legal in the US?",
          "url": "https://vultax.com/research/is-polymarket-legal-in-the-us-2026",
          "note": "Kalshi's sports share of contracts traded"
        }
      ],
      "measurement": {
        "kind": "illustrative",
        "temporalCoverage": "2026-09-12T15:06Z/2026-09-12T18:55Z",
        "population": "87,548 up-or-down trades",
        "methodology": "Sum of 0.07 × size × price × (1 − price) per trade, divided by the sum of size × price."
      },
      "id": "cost-table",
      "kind": "published-table",
      "description": "Vultax counted 15.0 million Polymarket trades over 251 hours: 59.6% were five-minute to daily up-or-down crypto bets averaging $12.82, 379 wallets made most of them, and the taker fee runs near 1.6% of every five-minute trade.",
      "articleUrl": "https://vultax.com/research/polymarket-bitcoin-up-or-down-5-minute-markets",
      "sectionUrl": "https://vultax.com/research/polymarket-bitcoin-up-or-down-5-minute-markets#cost",
      "publishedAt": "2026-09-15",
      "modifiedAt": "2026-09-15",
      "version": "a89e957aaa65c47a73ea9883de81339841de3e7788f66d47ebb3b93f3ac0ece4",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Figures describe trades recorded by Vultax's Polymarket flow lane in 251 observed hours and are shares of that record, not of all venue volume. Fees are computed from published rates. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-bitcoin-up-or-down-5-minute-markets/data.json?dataset=cost-table",
        "csv": "https://vultax.com/research/polymarket-bitcoin-up-or-down-5-minute-markets/data.csv?dataset=cost-table"
      }
    }
  ]
}