{"slug":"pcap-market-data-and-replay","qid":"one_minute_trace","label":"One minute of AAPL quotes, second by second, 09:30 ET on June 10 2026","post_title":"PCAP Market Data: How Market Replay Works","post_url":"/blog/pcap-market-data-and-replay#q-one_minute_trace","columns":["et_time","quote_count","median_gap_us"],"rows":[{"et_time":"09:30:00","quote_count":528,"median_gap_us":48},{"et_time":"09:30:01","quote_count":603,"median_gap_us":28},{"et_time":"09:30:02","quote_count":483,"median_gap_us":23},{"et_time":"09:30:03","quote_count":391,"median_gap_us":18},{"et_time":"09:30:04","quote_count":326,"median_gap_us":23},{"et_time":"09:30:05","quote_count":415,"median_gap_us":26},{"et_time":"09:30:06","quote_count":260,"median_gap_us":15},{"et_time":"09:30:07","quote_count":114,"median_gap_us":180},{"et_time":"09:30:08","quote_count":182,"median_gap_us":48},{"et_time":"09:30:09","quote_count":233,"median_gap_us":29},{"et_time":"09:30:10","quote_count":257,"median_gap_us":42},{"et_time":"09:30:11","quote_count":78,"median_gap_us":14},{"et_time":"09:30:12","quote_count":193,"median_gap_us":15},{"et_time":"09:30:13","quote_count":269,"median_gap_us":175},{"et_time":"09:30:14","quote_count":15,"median_gap_us":183},{"et_time":"09:30:15","quote_count":203,"median_gap_us":40},{"et_time":"09:30:16","quote_count":100,"median_gap_us":14},{"et_time":"09:30:17","quote_count":45,"median_gap_us":14},{"et_time":"09:30:18","quote_count":212,"median_gap_us":103},{"et_time":"09:30:19","quote_count":326,"median_gap_us":27},{"et_time":"09:30:20","quote_count":93,"median_gap_us":13},{"et_time":"09:30:21","quote_count":307,"median_gap_us":37},{"et_time":"09:30:22","quote_count":53,"median_gap_us":172},{"et_time":"09:30:23","quote_count":10,"median_gap_us":174},{"et_time":"09:30:24","quote_count":80,"median_gap_us":28},{"et_time":"09:30:25","quote_count":193,"median_gap_us":22},{"et_time":"09:30:26","quote_count":119,"median_gap_us":19},{"et_time":"09:30:27","quote_count":124,"median_gap_us":188},{"et_time":"09:30:28","quote_count":97,"median_gap_us":40},{"et_time":"09:30:29","quote_count":338,"median_gap_us":173},{"et_time":"09:30:30","quote_count":117,"median_gap_us":25},{"et_time":"09:30:31","quote_count":227,"median_gap_us":33},{"et_time":"09:30:32","quote_count":95,"median_gap_us":21},{"et_time":"09:30:33","quote_count":176,"median_gap_us":50},{"et_time":"09:30:34","quote_count":189,"median_gap_us":14},{"et_time":"09:30:35","quote_count":385,"median_gap_us":174},{"et_time":"09:30:36","quote_count":320,"median_gap_us":173},{"et_time":"09:30:37","quote_count":150,"median_gap_us":22},{"et_time":"09:30:38","quote_count":184,"median_gap_us":177},{"et_time":"09:30:39","quote_count":297,"median_gap_us":17},{"et_time":"09:30:40","quote_count":275,"median_gap_us":14},{"et_time":"09:30:41","quote_count":241,"median_gap_us":15},{"et_time":"09:30:42","quote_count":481,"median_gap_us":20},{"et_time":"09:30:43","quote_count":187,"median_gap_us":14},{"et_time":"09:30:44","quote_count":104,"median_gap_us":16},{"et_time":"09:30:45","quote_count":72,"median_gap_us":22},{"et_time":"09:30:46","quote_count":149,"median_gap_us":172},{"et_time":"09:30:47","quote_count":95,"median_gap_us":14},{"et_time":"09:30:48","quote_count":49,"median_gap_us":19},{"et_time":"09:30:49","quote_count":102,"median_gap_us":174},{"et_time":"09:30:50","quote_count":93,"median_gap_us":174},{"et_time":"09:30:51","quote_count":141,"median_gap_us":172},{"et_time":"09:30:52","quote_count":48,"median_gap_us":14},{"et_time":"09:30:53","quote_count":115,"median_gap_us":20},{"et_time":"09:30:54","quote_count":159,"median_gap_us":15},{"et_time":"09:30:55","quote_count":129,"median_gap_us":16},{"et_time":"09:30:56","quote_count":266,"median_gap_us":22},{"et_time":"09:30:57","quote_count":131,"median_gap_us":192},{"et_time":"09:30:58","quote_count":36,"median_gap_us":181},{"et_time":"09:30:59","quote_count":130,"median_gap_us":174}],"shape":"series","sql":"SELECT\n    formatDateTime(toStartOfSecond(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i:%S') AS et_time,\n    count()                                            AS quote_count,\n    round(quantileDeterministic(0.5)(gap_us, det), 0)  AS median_gap_us\nFROM\n(\n    SELECT\n        sip_timestamp,\n        toUnixTimestamp64Micro(sip_timestamp) - toUnixTimestamp64Micro(participant_timestamp) AS gap_us,\n        toUInt64(toUnixTimestamp64Micro(sip_timestamp))                                       AS det\n    FROM global_markets.cache_stocks_quotes\n    WHERE ticker = 'AAPL'\n      AND sip_timestamp >= '2026-06-10 13:30:00'\n      AND sip_timestamp <  '2026-06-10 13:31:00'\n      AND participant_timestamp > '2020-01-01 00:00:00'\n)\nWHERE gap_us BETWEEN 0 AND 1000000\nGROUP BY et_time\nORDER BY et_time","computed_at":"2026-08-12T15:31:28.008071+00:00","elapsed":0.002412109}