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  <description>Research notes from GPU Markets — the open, reproducible price index and research series for the GPU rental market.</description>
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  <lastBuildDate>Mon, 20 Apr 2026 00:30:00 GMT</lastBuildDate>
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    <title>Three integration patterns for a GPU compute derivatives market</title>
    <link>https://gpumarkets.dev/research</link>
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    <pubDate>Mon, 20 Apr 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[Six regulated, crypto‑native, and auction‑based venues for GPU‑compute derivatives are in development. Each has the same structural dependency: an independent, auditable, low‑friction reference price to settle against. Three integration modes — cash‑settled futures, perpetual funding oracles, and listed‑minus‑transacted basis trading — cover the landscape.]]></description>
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    <title>Decomposing the B200 curve — where did the demand go?</title>
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    <pubDate>Sat, 11 Apr 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[Listed B200 SXM spot on open neocloud venues has fallen 11.6% over 30 days (28% over six months) — even as SemiAnalysis's survey‑based contract index reports H100 1‑year rates up ~38% and on‑demand capacity sold out. A log‑linear decomposition against CoreWeave's order book reads the move as demand absorbed into contracts, not generational obsolescence. Charts and data below.]]></description>
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    <title>The Lambda–Vast spread is structural, not arbitrage.</title>
    <link>https://gpumarkets.dev/research</link>
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    <pubDate>Sat, 04 Apr 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[The Lambda–Vast spread is structural, not arbitrage.]]></description>
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    <title>Constructing a forward curve from reserved‑rate differentials.</title>
    <link>https://gpumarkets.dev/research</link>
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    <pubDate>Sat, 28 Mar 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[Constructing a forward curve from reserved‑rate differentials.]]></description>
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    <title>Implied GPU residual value: H100 vs H200.</title>
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    <pubDate>Sat, 21 Mar 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[Implied GPU residual value: H100 vs H200.]]></description>
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    <title>Could a neocloud have hedged the 2024 crash? A backtest.</title>
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    <pubDate>Sat, 14 Mar 2026 00:30:00 GMT</pubDate>
    <description><![CDATA[Could a neocloud have hedged the 2024 crash? A backtest.]]></description>
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