# Valour - CDF Index

## What is this endpoint for? <a href="#what-is-this-endpoint-for" id="what-is-this-endpoint-for"></a>

This endpoint is a customized index made specifically for Valour, a Kaiko Indices client. It's designed to serve as an underlying price feed for leveraged financial instruments. The price is calculated by measuring the performance of live futures contracts with a constant time to expiry to effectively reflect a price, mitigating the volatility caused by rollovers.

{% hint style="info" %}
You can find out more about our Customized Indices [here](https://www.kaiko.com/indices/customized-indices).
{% endhint %}

## Endpoints

{% tabs %}
{% tab title="gRPC" %}

```url
gateway-v0-grpc.kaiko.ovh
```

{% endtab %}

{% tab title="http" %}

```url
gateway-v0-http.kaiko.ovh
```

{% endtab %}

{% tab title="API (testing)" %}
{% code overflow="wrap" %}

```url
https://gateway-v0-http.kaiko.ovh/api/stream/constant_duration_indices_v1
```

{% endcode %}
{% endtab %}
{% endtabs %}

## Parameters

<table><thead><tr><th width="184">Parameter</th><th width="369.8125">Description</th><th>Examples</th></tr></thead><tbody><tr><td><code>index_code</code></td><td>The Kaiko CDF Index tickers</td><td><p><code>KAIKO_CDF_BTCUSDT</code></p><p>See the methodology for a full list of tickers.</p></td></tr></tbody></table>

{% hint style="info" %}
**Requesting multiple tickers at the same time**\
\
To configure multiple tickers in the same stream, provide the `indexCode` as a comma separated list eg `KAIKO_CDF_BTCUSDT,KAIKO_CDF_ETHUSDT`\
Alternatively, use a wildcard by entering a `*` and you'll receive all tickers you have as part of you Kaiko subscription.
{% endhint %}

## Fields

<table><thead><tr><th width="236.16015625">Field</th><th width="425.2421875">Description</th></tr></thead><tbody><tr><td><code>commodity</code></td><td>The type of publication. Either real-time or fixings</td></tr><tr><td><code>indexCode</code></td><td>The ticker identifying the rate.</td></tr><tr><td><code>base</code></td><td>Base asset of futures</td></tr><tr><td><code>quote</code></td><td>Quote asset of futures</td></tr><tr><td><code>computedCdf</code></td><td>Price of CDF index</td></tr><tr><td><code>exchange</code></td><td>The exchange code for underlying futures trade. Please find <a href="https://instruments.kaiko.com/#/exchanges">instrument explorer</a> for a full name of exchange.</td></tr><tr><td><code>frontFuture</code></td><td>A nested object containing:</td></tr><tr><td><ul><li><mark style="color:blue;"><code>symbol</code></mark></li></ul></td><td>Instrument code of front future. Please find <a href="https://instruments.kaiko.com/#/instruments">instrument explorer</a> for detailed information.</td></tr><tr><td><ul><li><mark style="color:blue;"><code>price</code></mark></li></ul></td><td>1-min VWAP of front future (Relevant doc of VWAP can be found <a href="https://docs.kaiko.com/kaiko-rest-api/data-feeds/level-1-and-level-2-data/level-1-aggregations/trade-count-ohlcv-and-vwap/vwap-only">here</a>.) If it's not available, last traded price</td></tr><tr><td><ul><li><mark style="color:blue;"><code>expiry</code></mark></li></ul></td><td>The timestamp of expiration of front future</td></tr><tr><td><ul><li><mark style="color:blue;"><code>timestamp</code></mark></li></ul></td><td>The timestamp of the price of front future.<br>If price is 1-min VWAP, <code>endTime</code> of the calculation<br>if price is from the last trade, the timestamp of the trade</td></tr><tr><td><ul><li><mark style="color:blue;"><code>weight</code></mark></li></ul></td><td>Applied weight to the price of front future</td></tr><tr><td><code>backFuture</code></td><td>A nested object containing:</td></tr><tr><td><ul><li><mark style="color:blue;"><code>symbol</code></mark></li></ul></td><td>Instrument code of back future. Please find <a href="https://instruments.kaiko.com/#/instruments">instrument explorer</a> for detailed information.</td></tr><tr><td><ul><li><mark style="color:blue;"><code>price</code></mark></li></ul></td><td>1-min VWAP of back future (Relevant doc of VWAP can be found <a href="https://docs.kaiko.com/kaiko-rest-api/data-feeds/level-1-and-level-2-data/level-1-aggregations/trade-count-ohlcv-and-vwap/vwap-only">here</a>.) If it's not available, last traded price</td></tr><tr><td><ul><li><mark style="color:blue;"><code>expiry</code></mark></li></ul></td><td>The timestamp of expiration of back future</td></tr><tr><td><ul><li><mark style="color:blue;"><code>timestamp</code></mark></li></ul></td><td>The timestamp of the price of back future.<br>If price is 1-min VWAP, <code>endTime</code> of the calculation<br>if price is from the last trade, the timestamp of the trade</td></tr><tr><td><ul><li><mark style="color:blue;"><code>weight</code></mark></li></ul></td><td>Applied weight to the price of back future</td></tr><tr><td><code>constantDuration</code></td><td>Constant Duration</td></tr><tr><td><code>status</code></td><td><p>Status of the publication<br><code>CDF_SUCCESS</code> : Calculation succeeded</p><p><code>CDF_NO_FUTURE</code> : Cannot find the relevant front or back future</p><p><code>CDF_NO_PRICE</code> : Futures are available but prices are not available</p></td></tr><tr><td><code>rateQuoteConversion</code></td><td>A nested object containing:</td></tr><tr><td><ul><li><mark style="color:blue;"><code>index</code></mark></li></ul></td><td>Kaiko Reference Rate that is used to convert the currency. Detailed methodology of Kaiko Reference rate can be found <a href="https://25446524.fs1.hubspotusercontent-eu1.net/hubfs/25446524/Factsheets/Kaiko%20Benchmark%20Rates%20Rulebook%20-%20202212%20(1).pdf">here</a></td></tr><tr><td><ul><li><mark style="color:blue;"><code>value</code></mark></li></ul></td><td>Price of <code>rateQuoteConversion</code> / <code>index</code></td></tr><tr><td><ul><li><mark style="color:blue;"><code>timestamp</code></mark></li></ul></td><td>Timestamp of <code>rateQuoteConversion</code> / <code>index</code></td></tr><tr><td><code>interval_startTime</code></td><td>The start time for the interval.</td></tr><tr><td><code>interval_endTime</code></td><td>The end time for the interval.</td></tr><tr><td><code>tsEvent</code></td><td>The exact time of the publication.</td></tr></tbody></table>

## Request examples

{% tabs %}
{% tab title="Python" %}
**Make sure to read our** [**Python quick-start guide**](broken://pages/vCciDqbvlaVg9L8IGTOq) **before starting.**

{% code overflow="wrap" %}

```python
 # This is a code example. Configure your parameters below #

from __future__ import print_function
from datetime import datetime, timedelta
import logging
import os
from google.protobuf.timestamp_pb2 import Timestamp
import grpc
from google.protobuf.json_format import MessageToJson
from kaikosdk import sdk_pb2_grpc
from kaikosdk.stream.constant_duration_indices_v1 import request_pb2 as pb_constant_duration_indices

def constant_duration_indices_v1_request(channel: grpc.Channel):
    try:
        with channel:
            stub = sdk_pb2_grpc.StreamConstantDurationIndicesServiceV1Stub(channel)

            responses = stub.Subscribe(pb_constant_duration_indices.StreamConstantDurationIndicesServiceRequestV1(
                index_code = "KAIKO_CDF_BTCUSDT"
            ))
            for response in responses:
                print("Received message %s" % (MessageToJson(response, including_default_value_fields = True)))
    except grpc.RpcError as e:
        print(e.details(), e.code())

def run():
    credentials = grpc.ssl_channel_credentials(root_certificates=None)
    call_credentials = grpc.access_token_call_credentials(os.environ['KAIKO_API_KEY'])
    composite_credentials = grpc.composite_channel_credentials(credentials, call_credentials)
    channel = grpc.secure_channel('gateway-v0-grpc.kaiko.ovh', composite_credentials)
    constant_duration_indices_v1_request(channel)

if __name__ == '__main__':
    logging.basicConfig()
    run()
```

{% endcode %}
{% endtab %}

{% tab title="Python (Replay)" %}

```python
# This is a code example. Configure your parameters below #

from __future__ import print_function
from datetime import datetime, timedelta
import logging
import os
from google.protobuf.timestamp_pb2 import Timestamp
import grpc
from google.protobuf.json_format import MessageToJson
from kaikosdk import sdk_pb2_grpc
from kaikosdk.stream.constant_duration_indices_v1 import request_pb2 as pb_constant_duration_indices

def constant_duration_indices_v1_request(channel: grpc.Channel):
    try:
        # start of date configuration #
        start = Timestamp()
        start.FromDatetime(datetime.utcnow() - timedelta(days=2))
        end = Timestamp()
        end.FromDatetime(datetime.utcnow() - timedelta(days=1))
        # end of date configuration #
        
        stub = sdk_pb2_grpc.StreamConstantDurationIndicesServiceV1Stub(channel)

        responses = stub.Subscribe(pb_constant_duration_indices.StreamConstantDurationIndicesServiceRequestV1(
            index_code = "KAIKO_CDF_BTCUSDT",
            interval={
                'start_time': start,
                'end_time': end
            }
        ))
        for response in responses:
            print("Received message %s" % (MessageToJson(response, including_default_value_fields = True)))
    except grpc.RpcError as e:
        print(e.details(), e.code())

def run():
    credentials = grpc.ssl_channel_credentials(root_certificates=None)
    call_credentials = grpc.access_token_call_credentials(os.environ['KAIKO_API_KEY'])
    composite_credentials = grpc.composite_channel_credentials(credentials, call_credentials)
    channel = grpc.secure_channel('gateway-v0-grpc.kaiko.ovh', composite_credentials)
    constant_duration_indices_v1_request(channel)

if __name__ == '__main__':
    logging.basicConfig()
    run()
```

{% endtab %}

{% tab title="cURL (Replay)" %}
**cURL requests are intended for testing purposes only.**

{% code overflow="wrap" %}

```
curl -X POST "https://gateway-v0-http.kaiko.ovh/api/stream/constant_duration_indices_v1" -H "accept: application/json" -H "X-Api-Key: $KAIKO_API_KEY" -H "Content-Type: application/json" -d '{ "indexCode": "KAIKO_CDF_BTCUSDT", "interval": {"startTime": "2025-04-24T15:30:00.000Z", "endTime": "2025-04-24T15:31:00.000Z" } }'
```

{% endcode %}
{% endtab %}

{% tab title="Other examples" %}
For more advanced users, you can access our full SDK [here](https://github.com/kaikodata/kaiko-sdk-examples/tree/master), where you'll find more coding languages, examples and guidance.
{% endtab %}
{% endtabs %}

## Response Example

```json
{
   "result":{
      "commodity":"SIC_REAL_TIME",
      "indexCode":"KAIKO_CDF_BTCUSDT",
      "composition":{
         "base":"btc",
         "quote":"usdt",
         "data":[
            {
               "computedCdf":95024.52103689784,
               "exchange":"binc",
               "frontFuture":{
                  "symbol":"btcusdt_250627",
                  "price":94481.42295081966,
                  "expiry":"2025-06-27T08:00:00Z",
                  "timestamp":"2025-04-25T09:31:00Z",
                  "weight":0.6813186813186813
               },
               "backFuture":{
                  "symbol":"btcusdt_250926",
                  "price":96096.2,
                  "expiry":"2025-09-26T08:00:00Z",
                  "timestamp":"2025-04-25T09:29:41.131Z",
                  "weight":0.31868131868131866
               },
               "constantDuration":91,
               "status":"CDF_SUCCESS",
               "rateQuoteConversion":{
                  "index":"KK_RFR_USDTUSD",
                  "value":1.0003,
                  "timestamp":"2025-04-25T09:31:00Z"
               }
            }
         ]
      },
      "startTime":"2025-04-25T09:30:00Z",
      "endTime":"2025-04-25T09:31:00Z",
      "tsEvent":"2025-04-25T09:31:05.247126935Z"
   }
}
```


---

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If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.kaiko.com/kaiko-indices/customized-indices/valour-cdf-index.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

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