---
title: "Net positioning extremes (5-year percentile rank)"
method: GET
path: "/api/v1/cot/extremes"
tags: ["Hedge Fund Intelligence"]
---

# Net positioning extremes (5-year percentile rank)

`GET /api/v1/cot/extremes`

Hedge fund / speculator net positioning extremes across 200+ active futures contracts. Returns top N markets ranked by 5-year percentile-rank deviation from the median (50). percentile_rank is 0-100 (50 = median), never a 0-1 fraction. Use to find crowded long/short trades that are contrarian reversal candidates. Picks the relevant trader category per report type: legacy=non-commercial, disaggregated=managed money, tff=leveraged funds, cit=commodity index traders. Defaults to TFF (financial futures, hedge fund leveraged-funds line). Cache TTL 24h - heavy single-query batch over 5 years of weekly data.

## Query parameters

- `report_type` string — Report type: legacy / disaggregated / tff / cit
- `lookback_weeks` integer — History window in weeks (260 = 5 years, default)
- `limit` integer — Max contracts to return

## Response `200`

Top markets by absolute deviation of net positioning percentile-rank from 50, with 4-week and 13-week net change.

- EnvelopeCotExtremesData
  - `data` CotExtremesData, required
    - `report_type` string, nullable — Report type the extremes were computed for: legacy / disaggregated / tff / cit.
    - `lookback_weeks` union — History window in weeks the percentile rank was computed over.
      - integer
      - number
    - `as_of` string, nullable — Report date of the most recent weekly observation used (YYYY-MM-DD). Null when the upstream returned no rows for the window - absent, never an empty-string sentinel.
    - `count` union — Number of items in this result set.
      - integer
      - number
    - `extremes` CotExtremeItem[], nullable — Markets ranked by absolute deviation of percentile_rank from the median (50), most extreme first.
      - `contract_code` string, nullable — CFTC contract market code.
      - `contract_market` string, nullable — Contract market name as published by CFTC.
      - `net_position` union — Current net position (longs minus shorts) for the report type's speculator category, in contracts.
        - integer
        - number
      - `percentile_rank` number, required — 0-100 percentile rank of the current net position within the lookback window (50 = median). NOT a 0-1 fraction: 0.2 means the 0.2th percentile, an extreme short.
      - `net_change_4w` union — Net position change versus 4 weeks ago, in contracts. Null when the history is shorter than 4 weeks - absent, not zero.
        - integer
        - number
      - `net_change_13w` union — Net position change versus 13 weeks ago, in contracts. Null when the history is shorter than 13 weeks - absent, not zero.
        - integer
        - number
      - `history_weeks` union — Number of weekly observations actually available for this contract inside the lookback window.
        - integer
        - number
  - `meta` SugraMeta, required — Metadata on a /api/v1/* response envelope built through `helpers.response.sugra_response`, which is how routes are expected to answer. A route that assembles its own `meta` dict carries only the keys it writes itself, so an optional field below can be absent because this response has nothing to report OR because that route does not build its envelope here - the two are not distinguishable from the outside (API-43).
    - `endpoint` string, required — Requested endpoint path.
    - `data_time` string, required — ISO 8601 timestamp the data on this response is stamped with. It is the source's own timestamp whenever the source supplied one this API could read; when it did not, this field falls back to the value of `response_time` and `data_age_days` is omitted, so the PRESENCE of that field is the signal to read - with the one exception named in its own description, a route that substitutes its own current time for a source timestamp it never received. Usually UTC (`Z`), but a source stating its own numeric offset keeps it (2026-04-16T14:30:00+09:00) rather than being converted a second time. For a source that publishes by period this is the period's START (see `period`) and for one that publishes by calendar day it is that day's midnight - in neither case a moment at which anything was observed or released.
    - `response_time` string, required — ISO 8601 UTC timestamp when this response was produced.
    - `provider` string, required — API name and version.
    - `data_age_days` number, nullable — Age of the data in days at the moment this response was produced, i.e. `response_time` minus `data_time`. Present ONLY when the timestamp this response is stamped with is a clock time that could be read as a real instant. It is ABSENT - never 0 - in every other case. Absent when no readable source timestamp was supplied, because `data_time` then repeats `response_time` and a zero age would assert that the data is current precisely where its true age is unknown. Absent when the source names a calendar day, a month, a quarter or a year (see `period`): the instant is then a boundary this API anchored at midnight, and time since a day or a quarter BEGAN is a different quantity from the age of the data - a daily series is out by up to a day, a quarterly one by up to a quarter. A midnight counts as such a boundary whichever zone it is stated in, and whether the source stated it or this API anchored it. The one case this field cannot see is a route that substitutes its own current time for a source timestamp it never received: the substituted value is a real, readable instant and is indistinguishable from one the source stated, so the age reads as roughly 0. The shared cache-and-fetch helper behind most routes stopped doing that (API-43), but the presence of this field is a statement about the timestamp the response carries, not a guarantee about the route that supplied it. Rounded to 0.001 day (86.4 seconds), so 0.0 is a real measured age anywhere within roughly +/-43 seconds and not a stand-in for unknown; a source stamping an instant in the future reports a negative value (-0.001 or less) rather than being clamped. Sources publish on very different cadences, so a non-zero age is normal, not an error. Preserve absence in client code: a generated client that materialises a missing optional number as its numeric default turns 'age unknown' back into 'age zero', which is the exact confusion this field exists to remove.
    - `source` string, nullable — Identifier of the primary upstream source used for this response.
    - `attribution` string, nullable — Human-readable attribution mandated by an upstream source (e.g. a securities regulator or self-regulatory organization). Present only on responses whose source requires the owner and source to be clearly identified. Do not remove or alter it when using the response.
    - `fallback_used` boolean, nullable — True when the primary source failed and a fallback produced the data.
    - `fallback_chain` string[], nullable — Ordered list of sources attempted, in the order they were tried.
    - `cached` boolean, nullable — True when this response was served from the internal cache.
    - `stale` boolean, nullable — True when the cached response was returned after the upstream rate-limited or errored. Clients can use this to detect degraded data.
    - `period` string, nullable — Unit of observation, when the source publishes by period rather than by instant. `data_time` carries the period's START instant so it stays machine-readable; this field preserves what that instant used to mean, which the conversion would otherwise erase. Present only for such sources, and only when the source hands the API the label itself - a client that converts the period to its start instant before building the envelope loses the label, though not the age exclusion, which is decided by the instant. Note that `data_age_days` is omitted whenever this is present, because an age measured from a period start is not a freshness figure.
    - `notes` string, nullable — Data-quality caveat about THIS response - how old the underlying report is, a chokepoint AIS lower-bound, or that a source-reported `data_time` could not be read and the response time is shown instead. Distinct from `attribution`, which is a licensing obligation. Multiple caveats are joined with ' | '. Present only when there is one.

## Other responses

- `401` — Missing or invalid `x-api-key` header. JSON body with a stable `code` distinguishing `missing_api_key` (no header sent) from `invalid_api_key` (header sent, key not accepted); any other 401 source carries the generic `unauthorized` with its detail as `reason`. Plus `hint`. `plan` is always null on 401 - an unauthenticated request has no plan; quota exhaustion is 429, not 401.
- `422` — Validation Error
- `429` — Daily rate limit exceeded. Check `X-RateLimit-Reset` for the next window.
- `503` — Upstream source is temporarily unavailable. Retry after a short delay.

## Changes

- **2026-09-01** `328d061c12ca` — 3 info
  - added the optional property `meta/data_age_days` to the response with the `200` status
  - added the optional property `meta/notes` to the response with the `200` status
  - added the optional property `meta/period` to the response with the `200` status
- **2026-08-28** `560e8847c7b3` — 9 breaking
  - the response property `data/as_of` became optional for the status `200`
  - the response property `data/count` became optional for the status `200`
  - the response property `data/extremes` became optional for the status `200`
  - the response property `data/lookback_weeks` became optional for the status `200`
  - …5 more
- **2026-08-08** `4c4530760ba1` — 12 info
  - added the optional property `code` to the response with the `401` status
  - added the optional property `code` to the response with the `429` status
  - added the optional property `code` to the response with the `503` status
  - added the optional property `hint` to the response with the `401` status
  - …8 more
- **2026-08-08** `4e2740743eb4` — 1 breaking, 2 info
  - the response's body type changed from no type to `object` for status `200`
  - added the required property `data` to the response with the `200` status
  - added the required property `meta` to the response with the `200` status

[Change history](https://skmtc.dev/sugra/apis/sugra-api/changes/api/v1/cot/extremes/get.md)

---

[API](https://skmtc.dev/sugra/apis/sugra-api.md) · [All operations](https://skmtc.dev/sugra/apis/sugra-api/llms.txt) · [OpenAPI document](https://skmtc-service-production.skmtc.workers.dev/v1/apis/sugra/sugra-api/revisions/85caa556892f/schema)