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do not require price feed structure
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pages/lazer/payload-reference.mdx

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@@ -43,8 +43,6 @@ The `parsed` object contains human-readable price data:
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Each price feed in the `priceFeeds` array represents real-time market data for a specific trading pair (e.g., BTC/USD, ETH/USD). Think of a price feed as a comprehensive snapshot of market conditions for that asset.
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### Example Price Feed Response
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Here's what a typical price feed looks like in a Lazer response:
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```json
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}
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```
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### Price Feed Structure
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Each price feed object contains the following fields:
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| Field | Type | Description | Example |
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| --------------------- | -------- | ------------------------------------------- | -------------------- |
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| `priceFeedId` | `number` | Unique identifier for the price feed | `1` (BTC/USD) |
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| `price` | `string` | Main aggregate price (mantissa format) | `"1006900000000"` |
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| `exponent` | `string` | Decimal exponent for price conversion | `-8` |
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| `confidence` | `string` | Price confidence interval (mantissa format) | `"5000000"` |
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| `publisherCount` | `string` | Number of data publishers contributing | `9` |
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| `bestBidPrice` | `string` | Highest bid price across all publishers | `"1006800000000"` |
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| `bestAskPrice` | `string` | Lowest ask price across all publishers | `"1007000000000"` |
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| `fundingRate` | `string` | Current funding rate for perpetual futures | `"125000"` |
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| `fundingTimestamp` | `string` | Timestamp of last funding rate update | `"1730986152000000"` |
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| `fundingRateInterval` | `string` | Funding rate update interval (microseconds) | `"28800000000"` |
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<Callout type="warning">
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**Important**: Price values are in mantissa format. To get the actual price,
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use: `actual_price = mantissa × 10^exponent`. For example: `1006900000000 ×
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- **Availability**: Always included when any price properties are present
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- **Algorithm**: Count of publishers whose data passed validation and quality checks
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- **Invariants**: Always positive for valid price feeds
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- **Business Value**: Higher count indicates more robust price discovery and reduced manipulation risk
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#### Decimal Exponent - `exponent`
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Power of 10 to apply for decimal representation
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Decimal exponent for price conversion
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- **Type**: `i16`
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- **Availability**: Always included when price properties are present
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- **Availability**: Only included if requested in subscription properties
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- **Algorithm**: Maximum bid price from all publishers with active order book data
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- **Invariants**: Non-zero when present, typically ≤ current price
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- **Business Value**: Essential for market makers and algorithmic trading strategies
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#### Lowest Market Ask - `best_ask_price`
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- **Availability**: Only included if requested in subscription properties
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- **Algorithm**: Minimum ask price from all publishers with active order book data
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- **Invariants**: Non-zero when present, typically ≥ current price
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- **Business Value**: Critical for understanding market liquidity and bid-ask spreads
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### Derivatives Properties (FundingRate Feed Type Only)
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- **Availability**: Only for FeedKind::FundingRate feeds, only if requested in subscription
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- **Algorithm**: Interest rate differential: `(PerpetualsPrice - IndexPrice) / IndexPrice`
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- **Invariants**: Can be positive (longs pay shorts) or negative (shorts pay longs)
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- **Business Value**: Essential for perpetual futures trading and funding arbitrage
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#### Funding Payment Timestamp - `funding_timestamp`
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- **Type**: `optional u64` (microseconds)
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- **Availability**: Only for FeedKind::FundingRate feeds, only if requested in subscription
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- **Invariants**: Valid Unix timestamp in microseconds when present
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- **Business Value**: Critical for funding payment timing and schedule management
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#### Funding Update Interval - `funding_interval`
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- **Availability**: Only for FeedKind::FundingRate feeds, only if requested in subscription
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- **Invariants**: Positive value when present
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- **Typical Values**: 28,800,000,000 microseconds (8 hours) for major exchanges
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- **Business Value**: Used for funding cost calculations and payment scheduling
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## Available Properties by Use Case
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## Available Properties by Feed Types
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Based on the [API documentation](https://pyth-lazer.dourolabs.app/docs), you can request specific properties when subscribing:
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| `fixed_rate@50ms` | Updates every 50 milliseconds | Low-latency trading systems |
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| `fixed_rate@200ms` | Updates every 200 milliseconds | Standard trading applications |
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<Callout type="default">
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**Channel Selection**: Most production applications use `real_time` for
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maximum freshness. Fixed-rate channels provide predictable update timing for
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applications requiring consistent intervals.
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</Callout>
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## Signature Schemes and Binary Formats
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Lazer provides multiple cryptographic formats to support different blockchain ecosystems. When you subscribe, you can request specific binary formats in the `chains` parameter:

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