The Mushino Index Price is derived from an average of real time price data from a collection of Spot exchanges. The Spot exchanges that contribute to the average can be seen below. To prevent price manipulation, 75% of the prices are treated as outliers, and removed from the average. The indices are updated at a fixed interval - currently every second.
Spot Exchanges that currently contribute to the Mushino Indices:
Kraken
Binance
Gemini
Coinbase Pro
Bitstamp
Itbit
Bittrex
Poloniex
Bitfinex
Bitflyer
Example (Mushino BTC/USD index)
The Mushino BTC/USD index is made up from the BTC/USD prices of the above Spot Exchanges. To mitigate price manipulation, the top 4 outliers and bottom 4 outliers are removed from the average.
If one of the Spot Exchange does not have a BTC/USD pair (as is the case for Binance), or the pair has low volume, the exchange is simply excluded from the average.
Assets with a low amount of USD pairs
If an asset has a low amount of USD pairs (such as ATOM), a slightly different approach is taken.
In this case, the most liquid crypto-to-crypto pairs will be selected. For ATOM specifically, this may be ATOM/BTC and ATOM/ETH. The BTC or ETH price will then implicitely be converted to USD by multiplying with the Index Price of the BTC/USD and ETH/USD pairs respectively.
Example:
ATOM/BTC = 0.001
BTC/USD = 10,000
ATOM/USD = ATOM/BTC * BTC/USD = 0.001*10,000 = 10