> ## Documentation Index
> Fetch the complete documentation index at: https://docs.spreader.sh/llms.txt
> Use this file to discover all available pages before exploring further.

> ## Agent Instructions
> Spreader is a web service that tracks arbitrage spreads between crypto exchanges. This documentation covers only what a user of the service sees and does.
> Page paths starting with /en/ are English. Translations live under /ru/ and /uk/ with the same file names.
> Screenshots are illustrations. Every screenshot is accompanied by text that states the same facts, so you do not need to see the image.

# Pair and market alerts

> Alerts on one pair or one market: a level of a metric or a change over a time window, with the modes Once, Each time it crosses and Repeat while it holds, and a re-arm hysteresis.

## Pair alert

1. Open the spread page and click **Alert › Spread of this pair**.
2. In **Alert on this pair** pick **Level** or **Change over time**.
3. Level: choose the **Metric**, the sign (at or above, at or below) and the **Threshold**. Change: choose the metric, **Direction** (**rise**, **drop**, **move either way**), **Change of at least** in points of spread and **Within** a window from 5 seconds to 60 minutes.
4. Pick **When**, the protections and **Deliver to**, then **Create**.

| Pair metric | Meaning |
| - | - |
| **In net**, **Out net** | Net entry and exit spread. |
| **In gross**, **Out gross** | The same before fees. |
| **APR** | Funding APR, our side. |
| **Break-even** | Hours to pay back fees and spreads. |
| **Funding spread** | Short leg funding minus long leg funding. |

Change over time is available for In net, Out net, APR and Funding spread.

## Market alert

Create it from **Alert › Long market** or **Short market** on a spread page, from **Alert › Metric of every market** in an asset header, from **Alert** on the Loans page, or from **New alert… › A market metric** on the Alerts page, where you pick an **Exchange** and search a **Market**, or tick **All markets on ‹exchange›**.

| Scope | Metrics |
| - | - |
| One market | Open interest, Volume 24h, Funding per 8h, Funding APR, Price, Book spread, Borrow pool, Borrow rate per hour. Level or change over time (price, OI, volume). |
| All markets of a coin, all markets on an exchange | Open interest, Volume 24h, Funding APR. One line per market that crosses the threshold. |

Markets already past the threshold stay silent until they cross again, new listings start silent too. When a metric does not exist for the market the editor says **Not available on ‹exchange›** or **No data yet for this market** and a rule with a metric the exchange never reports is refused: **There is no … data for this market, so the alert would never fire.**

## When

| Mode | Behaviour |
| - | - |
| **Once, then switch off** (default) | Fires the first time the condition is met and sets the rule to `done`. **Resume** arms it again. |
| **Each time it crosses** | Fires on every crossing. **Re-arm after moving back by** a hysteresis, 0.05 points by default. If the value is already past the threshold when you save, nothing is sent until it comes back and crosses again. |
| **Repeat while it holds** | Fires **every** N minutes while the condition holds, 15 minutes by default, from 1 minute to 7 days. |

Change over time rules use **Each time it crosses**.

## Pushover priority and sound

When Pushover is among the channels, the editor shows **Pushover priority** (**Low**, **Normal**, **High**, **Emergency**) and **Pushover sound** (device default, silent or a named sound). **Emergency** repeats on the phone until you acknowledge it. Default values come from the service.


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