Odaily Planet Daily reports that Kunal Doshi, a researcher at Blockworks, posted on X that Polymarket’s newly launched 5-minute BTC market generated $25.2 million in trading volume within 40 hours of launch. The average trading volume per window was approximately $52,000, reaching 10% to 20% of the trading volume of the 15-minute market.
Data shows that 7.1% of unique addresses simultaneously purchased Yes and No within a single window, while only 4.2% of addresses performed this across more than 50 windows. Although the number of such addresses is small, their trading volume accounts for 7.5% of the total and their transaction count represents 23.4% of the total. Among these, 92.6% of orders were buy orders, and 72.3% were filled as limit orders. These addresses achieved profitability in 80% of the windows, with the median combined price of Yes and No at $0.9823. The market currently exhibits early arbitrage behavior; if structural liquidity is introduced, the 5-minute market’s trading volume is expected to surpass that of the 15-minute market.