CouponMarketsHow it worksFAQDocsLaunch app
Sections
Pricing
How the fixed rate is builtForward rate & volatility
Risk & positions
Risk (PV01 / DV01)Mark-to-market & early exitCashflows & accruals
Pool & market
Pool mechanicsTerm curve & volatility bandMarket-wide stats
Reference
Fees, formatting & conversionsGlossary of parameters

Term curve & volatility band

The landing page's curve shows the deepest pool's forward rate across tenors, with a shaded band showing recent rate dispersion.

±1σ floating band

This is backward-looking historical dispersion, not a forecast or confidence interval on the future rate.

band = σ × sqrt(days / 365)
high = floating + band     low = max(0, floating − band)
landing/live.ts:32
Known limitation. A separate, older dashboard widget recomputes volatility client-side and does not apply the same annualisation as the figure above — its displayed "σ" reads much smaller. Treat this page's band as the authoritative volatility figure.
Time to maturity

The countdown and progress bar shown on every open position.

daysLeft = round((maturity − now) / 86400)
totalDays = round((maturity − inception) / 86400)
pay-fixed/PayFixedApp.tsx:71
Maturity label

How a tenor becomes a label like "45D", "6M", or "2Y" on curve axes and position cards.

days < 45  → "{days}D"
else       → round(days / 30.44) months, shown as "{n}M" (or "{n/12}Y" if divisible by 12)
pay-fixed/data.ts:175