{
  "tool_id": "art-406-cross-venue-margin-estimator",
  "tool_version": "1.0.0",
  "display_name": "Crypto Cross-Venue Margin & Off-Exchange Settlement Estimator",
  "mcp_name": "estimate_cross_venue_margin_capital",
  "mandate_type": "analytics_mandate",
  "wave": 67,
  "gpu": false,
  "url": "https://ainumbers.co/chaingraph/art-406-cross-venue-margin-estimator.html",
  "description": "Estimates the crypto off-exchange settlement / cross-venue margin picture for a book spread across trading venues (the Copper ClearLoop / FalconX / Ceffu model, per AT-CLEARING-WAVE-SPEC.md CW-1): the net cross-venue margin requirement after a declared netting offset against the sum of each venue's own isolated margin, the capital freed and capital efficiency of MPC-custody off-exchange settlement vs on-exchange isolated margin, the financing cost of running the book at a declared leverage multiple checked against a caller-declared program leverage cap (e.g. ClearLoop Loans up to 4x / FalconX up to 5x), and a plain counterparty/custody-risk framing string. Netting percentages, leverage caps and program names are caller-declared, version-pinned fixtures, never fetched or hard-coded. Distinct from the shipped TradFi treasury-clearing cluster (art-48..51), which addresses the US Treasury cash/repo clearing mandate and CME-FICC Combined Portfolio margining -- this node is the crypto prime-brokerage analogue. This receipt attests our computation over the user's declared positions and venue terms -- it does not verify those positions and is not a margin call, a settlement instruction, or investment advice.",
  "input_schema_ref": "chaingraph/art-406-cross-venue-margin-estimator.html#manifest",
  "consumes": [],
  "feeds": [],
  "status": "live",
  "conformance_fixtures": true,
  "compute_capability": "server",
  "compute_images": [
    {
      "system": "sha256-source",
      "image_id": "sha256:43750924c09ef1d6bfd8c815c5452fb6c21d0f7261c5518df2c9781abace1499",
      "valid_from": "2026-07-10"
    },
    {
      "system": "risc0",
      "image_id": "sha256:a1a0bc89b5b1febaeda3519f6dbade0fa5ac16beeb143c4e1b01689573567bc6",
      "valid_from": "2026-07-10"
    }
  ],
  "export_capability": [
    "json",
    "csv"
  ],
  "compute_proof_ready": "ready",
  "compute_proof": {
    "type": "ZkVmReceipt",
    "system": "risc0",
    "receiptFormat": "groth16-bn254",
    "imageId": "sha256:a1a0bc89b5b1febaeda3519f6dbade0fa5ac16beeb143c4e1b01689573567bc6",
    "seal": "Lkt3+Pr0aUV+Fd/5or/Ckb664HC6bs4kv1nA/dS3sKQYrOVYuflMXXyJ7vfsl0BkPUU4uPtj8dt+ezpxuNy4DghyZ2lbElFiRjuMmvTupjqXUseGpjpT/3woLROXTp4aGqgVrKz5NAIGtCICjUjvxHv2KsokUXezCYMTigWLbYEpsaM6RSNzqacXHmdZx1e6YN0q//RHzL1d/JPCWAR4YwfHgMlX32Fcu32KUxkf4S/k0IJ/vB4rRRfHxQ7k27B0DiVmOfFEcjZp0uPehCu1CZA7GJ6AhA/96F6iVF6Zik8Zb3ApsCABaEuQL0joSiMv/YlgWLRpD1DgjRjnsVq7Hg==",
    "journal": {
      "chaingraph_version": "0.4.0",
      "kernel_digest": "sha256:43750924c09ef1d6bfd8c815c5452fb6c21d0f7261c5518df2c9781abace1499",
      "output": {
        "capital_efficiency_pct": 0.35,
        "capital_freed_usd": 70000,
        "constants_version": "2026-07-19.clearloop-falconx-v1",
        "counterparty_risk_framing": "Assets held in MPC custody, off the trading venues, structured bankruptcy-remote from any single venue’s insolvency -- venue default risk is a trading-counterparty risk, not a custody/asset-loss risk.",
        "cross_margin_offset_pct": 0.35,
        "cross_venue_margin_requirement_usd": 130000,
        "custody_model": "mpc_off_exchange_bankruptcy_remote",
        "disambiguation": "Cross-venue crypto off-exchange settlement/margin (Copper ClearLoop / FalconX / Ceffu model) for a book spread across trading venues. Distinct from the TradFi treasury-clearing cluster (art-48..51), which addresses the US Treasury cash/repo clearing mandate and CME-FICC Combined Portfolio margining. This receipt attests our computation over the user’s declared positions and venue terms -- it does not verify those positions, and is not a margin call, a settlement instruction, or investment advice.",
        "financed_amount_usd": 666666.67,
        "financing_apr_pct": 8,
        "financing_cost_usd": 4383.56,
        "financing_horizon_days": 30,
        "financing_notional_usd": 1000000,
        "leverage_multiple": 3,
        "leverage_program_cap_multiple": 4,
        "leverage_program_name": "ClearLoop Loans",
        "sum_isolated_margin_usd": 200000,
        "venue_count": 3,
        "venue_positions": [
          {
            "gross_notional_usd": 500000,
            "isolated_margin_requirement_usd": 100000,
            "venue": "bybit"
          },
          {
            "gross_notional_usd": 300000,
            "isolated_margin_requirement_usd": 60000,
            "venue": "deribit"
          },
          {
            "gross_notional_usd": 200000,
            "isolated_margin_requirement_usd": 40000,
            "venue": "okx"
          }
        ]
      }
    }
  }
}