> ## Documentation Index > Fetch the complete documentation index at: https://docs.routeur.app/llms.txt > Use this file to discover all available pages before exploring further. > ## Agent Instructions > Prices are US dollars per contract that pays $1: 0.46 means 46 cents. Spread is the Yes ask plus the No ask minus $1. Liquidity grades are deep, tradeable and thin; lists hide thin markets unless include_thin=true. Relations are proven from contract terms, never inferred from wording; a lead marked informational is never executable. Every figure carries a graph_run; read /agents/reading-order first, then /concepts/relations and /concepts/liquidity. # Compare a chosen purchase against a cross-venue contract > Account-independent whole-share estimates using current depth, live Kalshi event/series fee overrides, and captured Polymarket fee schedules. Missing, stale, disconnected or limited recorded books trigger bounded public venue reads (four seconds per contract, up to 500 levels). A failed refresh remains unavailable; no stale quote is promoted. Automated settlement assessments bind full source versions. USD/USDC estimates assume parity and funded balances with exclusions in pricing. Missing evidence, unsupported assets, unknown fees and stale or incomplete books prevent a savings recommendation. No order or account is created. Responses are never cached. ## OpenAPI ````yaml /openapi.yaml get /v1/markets/{venue}/{id}/comparison openapi: 3.1.0 info: title: Routeur Graph API version: '2026-09-15' summary: >- Proven relations between Kalshi and Polymarket contracts, with the history and signals built on them. description: > Routeur reads every open market on Kalshi and global Polymarket, and proves which ones imply, exclude or equal each other from each venue's structured contract terms and exact arithmetic. No relation is inferred from prose, and ambiguous or conflicting evidence is withheld. ## Authentication Send your key in the `X-API-Key` header, or as `Authorization: Bearer `. Keys look like `rk_live_<12-character id>_<43-character secret>` and are shown once when issued. Keep them server-side. One endpoint needs no key: `/v1/accuracy`, the public record of how often proven relations held when their markets settled. ## Rate limits Every key has a per-minute limit and a per-day quota set by its tier: | Tier | Requests per minute | Requests per day | |---|---|---| | free | 30 | 2,000 | | trader | 120 | 50,000 | | pro | 600 | 500,000 | | institutional | 3,000 | 10,000,000 | Responses carry `X-RateLimit-Limit`, `X-RateLimit-Remaining` and `X-RateLimit-Reset` (Unix seconds) for the minute window, and `X-Daily-Quota-Limit` and `X-Daily-Quota-Remaining` for the day (UTC). A request over either limit returns `429` with `Retry-After` in seconds. ## Conventions - Money and prices are decimal strings in USD (for example `"0.4100"`), never floats. Prices are per contract that pays $1. - Times are RFC 3339 in UTC. - Successful responses wrap results in `data`. Graph-derived responses also name the `graph_run` they were read from; runs finish hourly. - Paginated lists return `next_cursor` when more results exist. Pass it back as `cursor` unchanged; cursors are opaque. - Unknown or repeated query parameters are rejected with `400`, so typos never silently widen a query. ## Liquidity Every object that names a market carries its 24-hour volume, its spread and a `liquidity` grade, because a price nobody can trade at is not a price: | Grade | 24-hour volume or open interest | Round-trip spread | |---|---|---| | `deep` | $25,000 traded, or $250,000 open interest | 2¢ or less | | `tradeable` | $1,000 traded, or $25,000 open interest | 5¢ or less | | `thin` | anything less, or no quoted round trip | | Lists that suggest something to act on — price gaps, leads, movers, flows, large fills, closing soon, strategy matches — leave thin markets out by default, and rank what is left by the money behind it. Three parameters change that wherever it applies: `min_volume_usd`, `max_spread_usd` and `include_thin=true`, which drops both floors. Search and event listings show thin markets but rank them below what can be traded. ## Errors Errors return a JSON body `{"error": {"code": "...", "message": "..."}}`. Branch on `code`; messages may change. | Status | Code | Meaning | |---|---|---| | 400 | `invalid_parameter` | A query parameter is unknown, repeated or out of range. | | 400 | `invalid_market` | The venue is not `kalshi` or `polymarket`, or the market id is malformed. | | 400 | `invalid_rulebook` | The venue, rulebook kind or id is malformed. | | 400 | `invalid_event` | The venue is not `kalshi` or `polymarket`, or the event id is malformed. | | 400 | `invalid_topic` | The topic name is malformed; use lowercase words joined by dashes. | | 401 | `api_key_required` | No key was sent. | | 401 | `invalid_api_key` | The key is malformed or unknown. | | 401 | `api_key_revoked` | The key was revoked. | | 401 | `invalid_token` | The bearer credential is not an API key and is not a valid service identity token. | | 403 | `caller_not_allowed` | The service identity token is valid but its identity may not call the API. | | 404 | `market_not_found` | The market is not in the latest graph. | | 404 | `event_not_found` | The event is not in the latest graph. | | 404 | `topic_not_found` | No listed markets are labeled with that topic. | | 404 | `strategy_not_found` | No strategy with that id is supported by settled history right now. | | 404 | `relation_not_found` | Both markets are listed, but no current proof relates them. | | 404 | `rulebook_not_found` | No such rulebook has been recorded. | | 404 | `book_not_found` | No order book is recorded for the market at that time. | | 404 | `not_found` | No such endpoint. | | 429 | `rate_limited` | The per-minute limit was exceeded. | | 429 | `daily_quota_exceeded` | The daily quota is used up. | | 429 | `too_many_streams` | The key already holds its concurrent live streams. | | 503 | `graph_unavailable` | No graph run has finished yet. | | 503 | `database_unavailable` | The database is not reachable; the readiness check answers this while it is down. | | 503 | `stream_unavailable` | No live stream capacity is free; retry shortly. | | 504 | `timeout` | The request took longer than 15 seconds. | | 500 | `internal` | Something failed on our side. | ## Webhooks Mispricing alerts are delivered as signed `POST` requests; see the `webhooks` section. Each request carries `Routeur-Signature: t=,v1=`, where `v1` is HMAC-SHA256 of `.` keyed by your subscription's signing secret. Reject requests whose signature does not match or whose `t` is more than five minutes old, and respond `2xx` within 10 seconds. `Routeur-Delivery` identifies the delivery and stays the same across retries, so use it to ignore duplicates. Any response other than `2xx` or `410`, or no response, is retried with exponential backoff from 30 seconds for up to 8 attempts; responding `410 Gone` disables the subscription. Endpoints must be HTTPS on a public address, and redirects are not followed. contact: name: Routeur url: https://routeur.app servers: - url: https://api.routeur.app security: - apiKey: [] - bearer: [] tags: - name: Events description: Real-world events across both venues, the way people browse them. - name: Graph description: Markets and the relations proven between them. - name: History description: Recorded quotes and trades. - name: Rules description: | Contract terms and their history. Every version of every market's rule text is kept from the day it was first seen, along with the rulebooks above it (Kalshi series and event terms, Polymarket resolution metadata) and the venue's contract terms documents, with diffs between versions. - name: Books description: >- Order books recorded live from each venue's feed, their history, and the health of the feeds. - name: Signals description: Mispricing leads and unusual trading derived from the graph and history. - name: Live description: Quotes, trades, relations and leads pushed as they happen. - name: Service description: Service status and this document. paths: /v1/markets/{venue}/{id}/comparison: get: summary: Compare a chosen purchase against a cross-venue contract description: >- Account-independent whole-share estimates using current depth, live Kalshi event/series fee overrides, and captured Polymarket fee schedules. Missing, stale, disconnected or limited recorded books trigger bounded public venue reads (four seconds per contract, up to 500 levels). A failed refresh remains unavailable; no stale quote is promoted. Automated settlement assessments bind full source versions. USD/USDC estimates assume parity and funded balances with exclusions in pricing. Missing evidence, unsupported assets, unknown fees and stale or incomplete books prevent a savings recommendation. No order or account is created. Responses are never cached. operationId: purchaseComparison parameters: - in: path name: venue required: true schema: type: string enum: - kalshi - polymarket - in: path name: id required: true schema: type: string - in: query name: side required: true schema: type: string enum: - 'yes' - 'no' - in: query name: unit required: true schema: type: string enum: - usd - shares - in: query name: amount required: true schema: type: string - in: query name: counterpart schema: type: string description: >- A venue:market_id from the returned candidate list; defaults to the strongest graph relation. responses: '200': description: >- Conditional purchase comparison, automated settlement findings and quote quality, with explicit assumptions and blocking reasons. content: application/json: schema: type: object required: - data properties: data: $ref: '#/components/schemas/PurchaseComparison' '400': description: Invalid comparison input '401': description: Authentication required '403': description: Caller not allowed '404': description: Market not found '429': description: Rate limit reached '503': description: Data unavailable components: schemas: PurchaseComparison: type: object required: - input - assessment - options - best - reasons - compared_at - candidates - pricing properties: input: type: object required: - side - unit - amount properties: side: type: string enum: - 'yes' - 'no' unit: type: string enum: - usd - shares amount: type: string assessment: type: object required: - outcome - settlement - evidence - mapping - summary properties: outcome: type: string description: Ordinary graph relation or an automated model assessment. settlement: type: string enum: - unknown - compatible - different evidence: type: string enum: - pending - incomplete - stale - current - inconclusive mapping: type: string enum: - unconfirmed - same - opposite summary: type: string differences: type: array description: >- Current source-validated settlement consequences. May be present while other terms remain unknown; never establishes interchangeable payouts. items: $ref: '#/components/schemas/PurchaseFinding' receipt: $ref: '#/components/schemas/PurchaseReceipt' options: type: array maxItems: 2 items: type: object required: - contract - quote properties: contract: $ref: '#/components/schemas/PurchaseContract' quote: $ref: '#/components/schemas/PurchaseQuote' best: type: - integer - 'null' minimum: 0 maximum: 1 description: >- Index of the qualified better estimate; null for ties or any unresolved eligibility condition. advantage: type: string description: >- Absolute USD trading-cost difference for shares; additional whole shares for a dollar budget. Subject to pricing assumptions. pricing: type: object required: - kind - currency - assumptions - excluded properties: kind: type: string enum: - trading_cost - conditional_at_par currency: type: string enum: - USD assumptions: type: array items: type: string excluded: type: array items: type: string reasons: type: array items: type: string compared_at: type: string format: date-time candidates: type: array items: $ref: '#/components/schemas/Relation' PurchaseFinding: type: object required: - topic - result - explanation - citations properties: topic: type: string result: type: string enum: - agree - different - unknown explanation: type: string citations: type: array items: type: object required: - contract - source_id - quote properties: contract: type: integer minimum: 0 maximum: 1 source_id: type: string quote: type: string description: Exact substring of the named captured source. PurchaseReceipt: type: object required: - id - model - policy - status - challenge - assessed_at - expires_at - left_hash - right_hash - mapping - scope - findings properties: id: type: string model: type: string policy: type: string status: type: string enum: - complete - inconclusive reason: type: string challenge: type: string assessed_at: type: string format: date-time expires_at: type: string format: date-time left_hash: type: string right_hash: type: string mapping: type: string enum: - same - opposite - unconfirmed scope: type: string findings: type: array items: $ref: '#/components/schemas/PurchaseFinding' PurchaseContract: type: object required: - venue - id - title - yes_label - no_label - rules_hash - evidence_hash - sources - evidence_issues - currency - payout properties: venue: type: string enum: - kalshi - polymarket id: type: string title: type: string yes_label: type: string no_label: type: string rules_hash: type: string evidence_hash: type: string description: >- SHA-256 of contract identity and full captured source versions and texts. currency: type: string payout: type: string evidence_issues: type: array items: type: string sources: type: array items: type: object required: - id - version - text properties: id: type: string version: type: string text: type: string description: Complete captured text; never silently truncated. url: type: string PurchaseQuote: type: object required: - side - quantity - principal - fee - total - unfilled - as_of - valid_until - status - issues - account properties: side: type: string enum: - 'yes' - 'no' quantity: type: string principal: type: string fee: type: - string - 'null' description: Null when unknown; never silently zero. total: type: - string - 'null' description: Principal plus known taker fees; null when fees are unknown. unfilled: type: string description: Unfilled requested shares; zero for budget mode. worst_price: type: string as_of: type: string format: date-time valid_until: type: string format: date-time status: type: string enum: - current - limited - unavailable issues: type: array items: type: string account: type: string enum: - not_checked description: >- Authenticated funding and eligibility checks occur separately in the order ticket. Relation: type: object additionalProperties: false required: - relation - cross_venue - evidence - market properties: relation: $ref: '#/components/schemas/RelationFromMarket' cross_venue: type: boolean evidence: type: array description: The structured facts the proof used. items: type: string market: $ref: '#/components/schemas/Market' RelationFromMarket: type: string description: | A relation from the requested market's side. `implies`: if this market resolves Yes, the other does. `implied_by`: the reverse. `contradicts`: both cannot resolve Yes. `overlaps`: the outcome sets intersect without containment. enum: - equivalent - implies - implied_by - contradicts - overlaps Market: type: object additionalProperties: false required: - venue - id - event_id - title - yes_label - no_label - event_mutually_exclusive - relations - volume_24h_usd - trades_24h - liquidity properties: venue: $ref: '#/components/schemas/Venue' id: $ref: '#/components/schemas/MarketID' event_id: type: string title: type: string yes_label: type: string no_label: type: string category: type: string strike: $ref: '#/components/schemas/Strike' event_mutually_exclusive: type: boolean description: At most one market in the event can resolve Yes. game_starts_at: $ref: '#/components/schemas/Timestamp' quote: $ref: '#/components/schemas/Quote' relations: $ref: '#/components/schemas/RelationCounts' volume_24h_usd: $ref: '#/components/schemas/Decimal' description: > Traded in the last 24 hours, in USD. The venue's own figure where it publishes one (Kalshi counts contracts at their $1 face value, as its own site does; Polymarket reports USDC notional), otherwise the notional of the fills this platform recorded. `volume_source` says which. volume_source: type: string enum: - venue - trades description: Where `volume_24h_usd` comes from. total_volume_usd: $ref: '#/components/schemas/Decimal' description: Traded over the market's life, where the venue reports it. open_interest_usd: $ref: '#/components/schemas/Decimal' description: Contracts currently held, at face value. Kalshi only. spread_usd: $ref: '#/components/schemas/Decimal' description: >- The round trip: the Yes ask plus the No ask less the $1 a winning contract pays. Absent when a side has no ask. yes_spread_usd: $ref: '#/components/schemas/Decimal' description: The Yes ask less the Yes bid, where the venue publishes a bid. no_spread_usd: $ref: '#/components/schemas/Decimal' description: The No ask less the No bid. trades_24h: type: integer description: Fills recorded in the last 24 hours. liquidity: $ref: '#/components/schemas/LiquidityGrade' book_spread_usd: $ref: '#/components/schemas/Decimal' description: >- From the recorded order book: the best Yes ask less the best Yes bid. Present for markets whose book is recorded. book_yes_depth_5c_usd: $ref: '#/components/schemas/Decimal' description: >- USD resting to buy Yes within 5 cents of the best Yes bid, from the recorded book. book_no_depth_5c_usd: $ref: '#/components/schemas/Decimal' description: >- USD resting to buy No within 5 cents of the best No bid (that is, to sell Yes), from the recorded book. book_imbalance: $ref: '#/components/schemas/Decimal' description: >- (Yes depth − No depth) / (Yes depth + No depth) over the 5-cent windows, from −1 to 1. book_at: $ref: '#/components/schemas/Timestamp' description: When the recorded book last changed. Venue: type: string enum: - kalshi - polymarket MarketID: type: string pattern: ^[A-Za-z0-9][A-Za-z0-9_.-]{0,199}$ Strike: type: object description: >- The market's payoff condition as a structured range on its underlying quantity. additionalProperties: false required: - type - rules_template_hash properties: type: type: string description: The venue's strike type, such as `greater`, `less` or `between`. floor: type: string description: Lower bound as an exact rational, such as `83/2`. cap: type: string description: Upper bound as an exact rational. custom: type: object additionalProperties: type: string functional: type: boolean rules_template_hash: type: string description: >- Fingerprint of the rules with bounds masked; markets compare only within one template. Timestamp: type: string format: date-time Quote: type: object additionalProperties: false required: - observed_at properties: yes_ask_usd: $ref: '#/components/schemas/Decimal' no_ask_usd: $ref: '#/components/schemas/Decimal' yes_bid_usd: $ref: '#/components/schemas/Decimal' description: The best resting Yes bid. Only the latest quote carries bids. no_bid_usd: $ref: '#/components/schemas/Decimal' description: The best resting No bid. observed_at: $ref: '#/components/schemas/Timestamp' price_usd: $ref: '#/components/schemas/Decimal' description: >- On history from before quotes were recorded: the closing Yes price of the hour or day. Such points carry no asks. source: type: string enum: - venue - archive description: >- Where a price_usd point comes from: the venue's own archive, or imported history. RelationCounts: type: object additionalProperties: false required: - implies - implied_by - equivalent - contradicts - overlaps - cross_venue properties: implies: type: integer implied_by: type: integer equivalent: type: integer contradicts: type: integer overlaps: type: integer cross_venue: type: integer description: Relations of any kind to the other venue. Decimal: type: string description: An exact decimal number. pattern: ^-?[0-9]+(\.[0-9]+)?$ example: '0.4100' LiquidityGrade: type: string description: | How tradeable a market is. `deep`: at least $25,000 traded in 24 hours or $250,000 of open interest, with a round trip of 2¢ or less. `tradeable`: at least $1,000 traded or $25,000 of open interest, with a round trip of 5¢ or less. `thin`: anything less, or no quoted round trip. Lists of suggestions leave thin markets out unless asked. enum: - deep - tradeable - thin securitySchemes: apiKey: type: apiKey in: header name: X-API-Key bearer: type: http scheme: bearer description: The same API key sent as a Bearer token. ````