{"slug":"verifiable-ai-trading-track-records","qid":"trading_costs","label":"Median quoted spread and the cost of a $25,000 round trip: midday hour, July 15, 2026","post_title":"Can an AI Trading Track Record Be Verified?","post_url":"/blog/verifiable-ai-trading-track-records#q-trading_costs","columns":["ticker","median_spread_bps","round_trip_cost_per_25k_usd"],"rows":[{"ticker":"MSTR","median_spread_bps":10.08,"round_trip_cost_per_25k_usd":25.2},{"ticker":"MSFT","median_spread_bps":2.01,"round_trip_cost_per_25k_usd":5.03},{"ticker":"NVDA","median_spread_bps":1.43,"round_trip_cost_per_25k_usd":3.59},{"ticker":"AAPL","median_spread_bps":1.24,"round_trip_cost_per_25k_usd":3.09},{"ticker":"KO","median_spread_bps":1.21,"round_trip_cost_per_25k_usd":3.01},{"ticker":"SPY","median_spread_bps":0.27,"round_trip_cost_per_25k_usd":0.66}],"shape":"ranking","sql":"SELECT ticker,\n       round(quantileDeterministic(0.5)(20000 * (toFloat64(ask_price) - toFloat64(bid_price))\n                                        / (toFloat64(ask_price) + toFloat64(bid_price)),\n                                        cityHash64(sip_timestamp)), 2) AS median_spread_bps,\n       round(25000 * quantileDeterministic(0.5)(2 * (toFloat64(ask_price) - toFloat64(bid_price))\n                                                / (toFloat64(ask_price) + toFloat64(bid_price)),\n                                                cityHash64(sip_timestamp)), 2) AS round_trip_cost_per_25k_usd\nFROM global_markets.cache_stocks_quotes\nWHERE ticker IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'MSTR')\n  AND sip_timestamp >= toDateTime('2026-07-15 15:00:00')\n  AND sip_timestamp < toDateTime('2026-07-15 16:00:00')\n  AND bid_price > 1\n  AND ask_price > bid_price\nGROUP BY ticker\nORDER BY median_spread_bps DESC","computed_at":"2026-08-03T11:22:46.058331+00:00","elapsed":0.002817605}