Markets

AMZN/SPY

Amazon relative to SP500

AMZN+0.42%AMZN leads · 24h+0.31%SPY
Relative performance · indexed to 100
100.85+0.85%1M
Ratio 0.32528 · SPY per AMZN
AMZN99.85SPY99.01
Base
AMZN
Amazon xStockAMZNx
Equity
Mint
Xs3e…LZsg
Decimals
8
Quote
SPY
SP500 xStockSPYx
ETF
Mint
XsoC…DF2W
Decimals
8
What this market measures

Tracks AMZN performance relative to SPY.

The chart shows relative performance indexed to 100 at the start of the range. This is not the price of an Otus token and not the price of either asset - it is how AMZN has done against SPY, which can rise even when both are falling.

One company against the index that contains it, isolating the idiosyncratic move.

Why a ratio, not two perps
One position, one liquidation level
A long-AMZN short-SPY pair built from two perps can be liquidated on a market-wide wick: the long leg blows up before the short leg pays out, even when the view was right. A ratio position only cares whether AMZN outperforms; its liquidation level is a ratio level.
Balanced by construction
Two legs drift out of balance and need constant rebalancing. A ratio position cannot drift. It is the relationship itself.
One margin, one fee
Two legs cost double margin, double fees and double funding. One position halves all three.
Pairs that exist nowhere else
Many pairs cannot be assembled from existing perps at all, because one side has no perp market. Tokenized equities and long-tail Solana assets first among them.
Identifier
amzn-spy
Listed
Sep 23, 2026
Creator
Unattributed
Trade

AMZN outperforms SPY.

Leverage10×
MarginUSDCUSDC
Entry ratio
0.32528
Liquidation ratio
0.29275(−10.0%)
Position size
USDC1,000.00

Margin settles to the Otus vault through a Jupiter swap from your wallet. Positions are marked against live ratios.