Fifteen-minute funding

TAYHO advances monotonic payer and receiver indices per live market every 15 minutes. Positions snapshot both indices when opened and settle their gross legs lazily on margin changes, closes, liquidations, or force-flattening; updating a market never loops over positions. For each interval the isolated oracle attester publishes two smoothed observations:

impactPrice: the executable book impact price for the configured size and smoothing policy;
indexPrice: an independent fair-value probability source, not a transformation of the same BBO.

The on-chain hourly rate is:

premium = clamp((impactPrice - indexPrice) / indexPrice, -2%, +2%)
skew    = clamp((longQ - shortQ) / D_max * 1%, -1%, +1%)
rate    = clamp(premium + skew, -3%, +3%)
indexDelta = rate / 4

A positive rate makes longs pay and shorts receive; a negative rate reverses the direction. The vault is counterparty to unmatched exposure. Before publishing an index increment, TayhoFunding reserves LP capital for the complete receiving side after buffer B and senior liabilities. If the full formula cannot be backed, publication reverts instead of changing the rate. Separate monotonic pay/receive indices preserve gross claims across a rate reversal; per-side market reserves are released on settlement, with aggregate rounding dust released when that side reaches zero OI. Reserved capital cannot be withdrawn, skimmed, paid to an unrelated winner, or consumed by the FIFO queue. The two-replica tayho-oracle Railway service samples independent HTTPS origins every five seconds, stores bounded sample windows in Redis, rejects stale/gapped windows, and publishes completed-window time-weighted averages through two funding-only attester keys. A Redis lease avoids duplicate discovery while PostgreSQL’s durable transaction journal provides idempotency, nonce serialization, retry, and failover. Observations are current-interval, interval-aligned, attester-only, and one-shot. Anyone may call updateFunding; the two automation replicas retry permissionless best-effort batches once per minute. An opening requires the current interval to be initialized, while exits remain available if a new observation is delayed. Missed intervals are not backfilled using a later price. The auditor independently recomputes premium, skew, total rate, interval delta, and required reserve from the inputs recorded at publication. It also reconciles every market/side reserve to the vault total and checks interval lag, price domains, oracle agreement, and future intervals. One missed interval is a warning; more than one is critical for a live market.

Boundaries and failure behavior

Inputs are authenticated impact and index observations plus current on-chain open interest and risk configuration.
The funding attesters output only attestFunding; permissionless automation outputs the bounded update call after an observation exists.
Redis retains smoothing windows and leases but is not the publication authority. PostgreSQL owns jobs, outbox delivery, signer nonce allocation, and transaction lineage. Contracts own the accepted observation and cumulative indices.
Oracle source gaps pause new observation publication. A failed current interval prevents new opens but does not block exits. Later observations never backfill a missing interval.
Readiness validates source freshness, chain identity, contract linkage, signer separation, balance, and exact funding-attester authorization.

Sources: TayhoFunding.sol, funding services, and funding tests.

​Fifteen-minute funding

​Boundaries and failure behavior

Fifteen-minute funding

Boundaries and failure behavior