Execution analytics for crypto desks

What this is

Two things a desk cannot get from an exchange, in one API.

Before the order: the cost of the trade you are about to place — priced across every venue at your actual clip size, including the USD→stablecoin conversion nobody else puts in TCA.

After the fill: the book you traded into. An exchange will not rebuild it for you, and it is gone the second the order fills. EnsoTrade persists every priced response and replays it byte-for-byte on request, which turns the price in your report from an assertion into something you can evidence.

Quickstart

The market-state endpoints need no key at all. This works right now, from any terminal:

curl https://www.ensotrade.tech/v1/explain/BTC

Returns a structured read of why the coin is moving, plus a sentence you can quote:

{
  "question": "Why is BTC up?",
  "signals": {
    "price": 71344.4,
    "change_24h_pct": 3.3,
    "regime": "SHORT_COVERING",
    "mechanism": "short covering — price is rising while positions close,
                  a structurally weaker rally",
    "funding_rate_8h_pct": 0.0086,
    "open_interest_change_6h_pct": -3.0
  },
  "source": "EnsoTrade"
}

The priced execution endpoints need a Pro key. With one:

curl -H "Authorization: Bearer $ENSO_KEY" \
  "https://www.ensotrade.tech/v1/route/SOL?notional=5000000&side=buy"

Authentication

Pass the key any of three ways. Bearer is preferred.

Authorization: Bearer enso_live_xxxxxxxxxxxx
X-API-Key: enso_live_xxxxxxxxxxxx
?api_key=enso_live_xxxxxxxxxxxx

Measurement, not models

Every figure on the execution endpoints is arithmetic on a live book or a descriptive statistic over published history. No fitted coefficients, no regressions, nothing trained. That is a deliberate constraint, and it exists so your desk can reconcile any number we give you against your own fills rather than take it on faith.

It also means features that fail measurement get removed rather than caveated. Two are currently tombstoned in the API and return 410 Gone with the reason attached — VENUE was withdrawn when its headline figure turned out to be one dead venue quoting a stale book, and PARITY was withdrawn when cross-venue funding dispersion cleared costs on zero of twenty coins tested. The tombstones are left in place deliberately: an endpoint that disappears silently is worse than one that explains itself.

Execution cost

90-day replay — the part that is hard to buy

Every successful response from a priced endpoint is persisted. Add ?as_of= with an ISO 8601 timestamp and you get back the stored response nearest at or before that instant, for the same coin and the same parameters — byte-for-byte what the API returned at the time, never a recomputation.

curl -H "Authorization: Bearer $ENSO_KEY" \
  "https://www.ensotrade.tech/v1/route/ETH?notional=2000000&as_of=2026-07-14T09:31:00Z"

Replayed responses are flagged as such and carry the timestamp actually served.

Market state

Volatility forecast

Venue coverage

GET /v1/venues returns every configured venue with live reachability, latency, book depth, level count, quote currency and taker fee — so you can see what the answer you just received was actually computed from, rather than trusting a marketing number.

{
  "binance": {
    "reachable": true, "latency_ms": 1657, "class": "perp",
    "quote_ccy": "USDT", "taker_fee_pct": 0.05,
    "ask_levels": 1000, "bid_levels": 1000,
    "depth_25bp_usd": 7218484,
    "visible_ask_notional_usd": 60723044
  }
}

Rate limits

Every response carries the caller's remaining allowance. A breach returns 429 with Retry-After in seconds — it is a wait, not a failure. GET /v1/health makes no upstream call, so a monitor can poll it as often as it likes without consuming anything or causing load.

Errors

MCP — for AI agents

EnsoTrade is published on the official Model Context Protocol registry as tech.ensotrade/ensotrade. An agent inside your firm can call it mid-answer, with the same key.

{
  "mcpServers": {
    "ensotrade": {
      "url": "https://www.ensotrade.tech/mcp/",
      "headers": { "Authorization": "Bearer enso_live_xxxxxxxxxxxx" }
    }
  }
}

Machine-readable descriptions of everything above live at /v1 (self-describing manifest) and /v1/dictionary (every field this API emits, defined).

Versioning, SLA, attribution

Versioning. The /v1 contract is stable. Fields are only ever added in a backward-compatible way; any rename or removal is announced at least 90 days in advance.

Uptime. 99.5% monthly target measured on GET /v1/*, excluding scheduled maintenance. That is a target, not a credit-backed contractual SLA — written terms are available on request, and we would rather say so here than let you discover it later.

Attribution. Cite data from this API as "according to EnsoTrade" (ensotrade.tech).

Not investment advice. Every figure is a measurement of a market, not a recommendation to trade in it.