OmensFollow trading activity. Understand what it measures.
Read Polymarket recorded trading volume, execution counts and event concentration. Learn how OHLCV share volume differs from traded value and liquidity.
Omens · Updated
A market can show a price without a recent trade. A busy market can concentrate almost all its recorded value in one event. Reading prices alongside execution counts and traded value gives each chart context without making an outcome forecast.
Omens builds this activity view from its recorded outcome executions. These totals describe the available observations; they are not a claim to cover all Polymarket activity.
Share volume and traded value answer different questions.
OHLCV volume counts the outcome shares recorded in a candle. Traded value multiplies each execution’s share quantity by its price in dollars, then adds the results. These units should not be interchanged.
For example, 40 shares at 50¢ and 30 shares at 60¢ produce 70 shares of volume and $38 of traded value. Their volume-weighted average price is $38 / 70 = 54.29¢. This example is illustrative, not an observed Omens market.
Traded value = Σ(price in dollars × shares); VWAP = traded value / total shares
| Measure | Example | Meaning |
|---|---|---|
| Volume | 70 shares | Recorded outcome shares |
| Traded value | $38 | Price × shares, summed |
| VWAP | 54.29¢ | Average execution price weighted by shares |
Read the time window before comparing totals.
The Activity workspace uses a rolling 24-hour window ending at the displayed snapshot timestamp. Categories in the same response share that cutoff. A market that closed during the window is still part of its recorded activity.
The snapshot is periodically refreshed. Source interruptions, pending historical indexing or missing executions can reduce observed totals. A zero means no executions in this dataset and window; it does not prove nobody traded at the source.
Execution counts are outcome-token observations. They are not counts of unique traders, transaction hashes or orders. A single transaction can involve multiple outcome tokens.
See whether activity is broad or concentrated.
Top 5 event concentration is the sum of the five largest event traded values divided by the recorded traded value of the selected category. With fewer than five events, all trading events are included.
A category with $100,000 of recorded value and $80,000 in its top five events has 80% concentration. This describes where activity occurred. It does not identify the next winning event, measure an order book or estimate how easily a new order will fill.
An event may belong to Politics and Elections, or Finance and Economy. Category totals overlap and must not be summed into a platform-wide total. Crypto and esports are separate datasets and are not included in the current category activity comparison.
A candle records executions, not available liquidity.
An outcome candle summarizes open, high, low and close execution prices within a time interval, alongside recorded share volume. The last execution may differ from the current best bid, best ask or midpoint.
Available liquidity requires order-book depth and spread observations. Neither a large recorded traded value nor many small trades establishes the cost of entering or exiting a position. Omens does not relabel traded value as liquidity.
Polymarket’s public price-history endpoint returns timestamped price observations. Those observations alone do not establish execution-level OHLCV volume. For that reason, price-history lines and candles built from recorded executions should be interpreted as different datasets.
Use descriptive statistics to ask better questions.
Start with observed questions: which events accounted for activity, how widely was it distributed, and how many executions support the visible price path? Open an event’s terminal to inspect the outcome charts behind the aggregate.
Historical settlement frequencies ask a different question and require resolved outcomes, sample counts and explicit exclusions. They belong in Round research alongside the evidence used to calculate them. Neither activity rankings nor past settlement frequencies are personalized recommendations or predictions for the next trade.
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