# Kaiko Best Execution

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

Get a market-representative execution benchmark that’s ideal for reporting and demonstrating execution efficiency to clients.\
\
The exchanges used in this calculation are vetted, meaning only those that are part of the [Kaiko Exchange Ranking](https://www.kaiko.com/products/rates-and-indices/exchange-ranking) are included. The best bids are aggregated over 10-second intervals and delivered every second. This means you receive the best bids and asks from the previous 10 seconds, updated every second.&#x20;

{% hint style="info" %}
Note that Kaiko Exchange Ranking is updated every quarter, so the exchanges used in the calculation may change.
{% 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)" %}

```url
https://gateway-v0-http.kaiko.ovh/api/stream/aggregated_quote_v2
```

{% endtab %}
{% endtabs %}

## Request parameters

<table><thead><tr><th width="184">Parameter</th><th width="387">Description</th><th>Examples</th><th data-type="checkbox">Mandatory?</th></tr></thead><tbody><tr><td><code>instrument_class</code></td><td>The class of the instrument(s) .<br><br>Explore instruments, codes and exchanges in the <a href="https://instruments.kaiko.com/#/instruments">Instrument Explorer</a> or <a data-mention href="https://app.gitbook.com/s/ltAbhvgBfrAWlpUnC7ys/data-feeds/reference-data">Reference Data</a>. </td><td><code>spot</code></td><td>true</td></tr><tr><td><code>code</code></td><td>The Kaiko code for the instrument(s).<br><br>The class of the instrument(s) .<br><br>Explore instruments, codes and exchanges in the <a href="https://instruments.kaiko.com/#/instruments">Instrument Explorer</a> or <a data-mention href="https://app.gitbook.com/s/ltAbhvgBfrAWlpUnC7ys/data-feeds/reference-data">Reference Data</a>. </td><td><code>btc-usd</code><br></td><td>true</td></tr><tr><td><code>includeUnvettedPrice</code></td><td>This parameter is set to <code>false</code> by default and not included in the code example. <br><br>Setting this field to <code>true</code> includes best bids and asks from exchanges that are not included in the Kaiko Exchange Ranking. <br><br>This parameter is helpful when an instrument you need is not covered by any exchange on the Kaiko Exchange ranking. It also serves as a backup for instruments covered by only one exchange, ensuring you still receive a price in case that exchange drops off the ranking when it's updated.<br><br>If you set this parameter <code>true</code>, the calculation will include all exchanges covered by Kaiko and this price will appear in a separate <code>unvetted</code> section of the response. </td><td><code>"includeUnvettedPrice": true</code></td><td>false</td></tr></tbody></table>

{% hint style="info" %}
**Configuring multiple instruments**

To configure multiple instruments in the same stream, provide the `code` as a comma separated list `eg btc-usd,eth-usd.`
{% endhint %}

## Response fields

<table><thead><tr><th width="223">Field</th><th width="537">Description</th></tr></thead><tbody><tr><td><code>aggregate</code></td><td>The time period over which the best bid or ask was calculated. This is always <code>10s</code>. </td></tr><tr><td><code>instrumentClass</code></td><td>The class of the instrument.</td></tr><tr><td><code>code</code></td><td>The instrument code.</td></tr><tr><td><code>eventType</code></td><td><code>BEST_BID</code> - The best bid from the period<br><code>BEST_ASK</code> - The best ask from the period</td></tr><tr><td><code>tsEvent</code></td><td>The timestamp the data became available in the Kaiko system.</td></tr><tr><td><code>price</code></td><td><p><strong>When <code>BEST-BID</code></strong>: The price per unit of the base that the buyer is willing to pay in the quote asset, represented as a scientific notation</p><p><br>Example: btc-usd</p><ul><li>base asset = btc</li><li>quote asset = usd<br><br><code>price</code>: <code>60555.00271626198</code></li></ul><p>For each unit of <code>btc</code>, the buyer is willing to pay <code>60555.00271626198</code> USD.<br></p><p><strong>When <code>BEST-ASK</code></strong>: The price per unit of the base that the seller is willing to accept in the quote asset, represented as a scientific notation</p><p><br>Example: btc-usd</p><ul><li>base asset = btc</li><li>quote asset = usd<br><br><code>price</code>: <code>60556.00224312413</code></li></ul><p>For each unit of <code>btc</code>, the buyer is willing to accept 60556.00224312413 USD.</p></td></tr><tr><td><code>volume</code></td><td><ul><li><strong>When <code>BEST-BID</code>:</strong> The quantity of the base asset that the buyer is willing to purchase</li><li><strong>When <code>BEST-ASK</code>:</strong> The quantity of the base asset the seller has available for sale</li></ul></td></tr></tbody></table>

## Request examples

{% tabs %}
{% tab title="Python" %}
{% @github-files/github-code-block url="<https://github.com/kaikodata/kaiko-sdk-examples/blob/master/python/code-example/aggregated_quote_request.py>" visible="false" %}
{% endtab %}

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

{% code overflow="wrap" %}

```url
curl -X POST "https://gateway-v0-http.kaiko.ovh/api/stream/aggregated_quote_v2" -H "accept: application/json" -H "X-Api-Key: $KAIKO_API_KEY" -H "Content-Type: application/json" -d "{\"instrumentClass\":\"spot\", \"code\": \"btc-usd\"}"
```

{% 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
 "aggregate": "10s",
  "instrumentClass": "spot",
  "code": "btc-usd",
  "eventType": "BEST_ASK",
  "tsEvent": "2024-08-09T23:15:18.087882038Z",
  "vetted": {
    "price": "60556.00224312413",
    "volume": "0.2699806"
```