{
  "study": "weekend-gap-statistics",
  "title": "Weekend Gap Statistics: 835 Weekends, 20 Instruments",
  "description": "88.4% of EUR/USD weekend gaps close within 24 hours and the median gap is 6.5 pips. But the Sunday open print is depressed by the reopen spread — here is how much, and what the gap looks like measured properly.",
  "source": "https://fxbacktest.app/research/weekend-gap-statistics/",
  "publisher": "FxBacktest",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "attribution": "FxBacktest, https://fxbacktest.app/research/weekend-gap-statistics/",
  "datePublished": "2026-07-30",
  "dateModified": "2026-09-08",
  "generated": "2026-09-18",
  "tables": [
    {
      "id": "weekend-gap-size-friday-close-to",
      "caption": "Weekend gap size: Friday close to the reopen",
      "captionSource": "caption",
      "columns": [
        "Instrument",
        "Weekends",
        "Median (pips)",
        "Mean",
        "90th pct",
        "Largest",
        "Median as % of daily range",
        "Gap > 25% of range"
      ],
      "rowCount": 23,
      "rows": [
        {
          "Instrument": "EUR/USD",
          "Weekends": 835,
          "Median (pips)": 6.5,
          "Mean": 13,
          "90th pct": 31.8,
          "Largest": 192.7,
          "Median as % of daily range": 8.2,
          "Gap > 25% of range": 18
        },
        {
          "Instrument": "GBP/USD",
          "Weekends": 835,
          "Median (pips)": 9,
          "Mean": 14.7,
          "90th pct": 30.7,
          "Largest": 234.4,
          "Median as % of daily range": 9.2,
          "Gap > 25% of range": 15.6
        },
        {
          "Instrument": "USD/CAD",
          "Weekends": 835,
          "Median (pips)": 6.9,
          "Mean": 10.4,
          "90th pct": 21.6,
          "Largest": 209.5,
          "Median as % of daily range": 9.1,
          "Gap > 25% of range": 13.2
        },
        {
          "Instrument": "AUD/USD",
          "Weekends": 835,
          "Median (pips)": 6.9,
          "Mean": 11.6,
          "90th pct": 27.3,
          "Largest": 122.6,
          "Median as % of daily range": 10.2,
          "Gap > 25% of range": 21.3
        },
        {
          "Instrument": "EUR/GBP",
          "Weekends": 835,
          "Median (pips)": 6.5,
          "Mean": 9.7,
          "90th pct": 20.7,
          "Largest": 127.7,
          "Median as % of daily range": 13,
          "Gap > 25% of range": 24.8
        },
        {
          "Instrument": "EUR/CHF",
          "Weekends": 835,
          "Median (pips)": 5.9,
          "Mean": 10.4,
          "90th pct": 21.8,
          "Largest": 128.7,
          "Median as % of daily range": 13.3,
          "Gap > 25% of range": 30.2
        },
        {
          "Instrument": "NZD/CHF",
          "Weekends": 835,
          "Median (pips)": 10.1,
          "Mean": 13.4,
          "90th pct": 26.9,
          "Largest": 91,
          "Median as % of daily range": 17.8,
          "Gap > 25% of range": 34.7
        },
        {
          "Instrument": "AUD/CAD",
          "Weekends": 835,
          "Median (pips)": 9,
          "Mean": 12.8,
          "90th pct": 27.8,
          "Largest": 108.5,
          "Median as % of daily range": 13.9,
          "Gap > 25% of range": 26.5
        },
        {
          "Instrument": "CAD/CHF",
          "Weekends": 835,
          "Median (pips)": 8,
          "Mean": 11.2,
          "90th pct": 24.7,
          "Largest": 105.6,
          "Median as % of daily range": 14.1,
          "Gap > 25% of range": 25.7
        },
        {
          "Instrument": "USD/JPY",
          "Weekends": 835,
          "Median (pips)": 8.2,
          "Mean": 13.7,
          "90th pct": 30.9,
          "Largest": 209.2,
          "Median as % of daily range": 10.7,
          "Gap > 25% of range": 18.6
        },
        {
          "Instrument": "EUR/JPY",
          "Weekends": 835,
          "Median (pips)": 12,
          "Mean": 20,
          "90th pct": 42.9,
          "Largest": 366.5,
          "Median as % of daily range": 11.9,
          "Gap > 25% of range": 20.8
        },
        {
          "Instrument": "GBP/JPY",
          "Weekends": 835,
          "Median (pips)": 15.6,
          "Mean": 24.7,
          "90th pct": 51,
          "Largest": 332.4,
          "Median as % of daily range": 11.9,
          "Gap > 25% of range": 20.9
        },
        {
          "Instrument": "AUD/JPY",
          "Weekends": 835,
          "Median (pips)": 10.9,
          "Mean": 17.4,
          "90th pct": 39.1,
          "Largest": 162.7,
          "Median as % of daily range": 13.2,
          "Gap > 25% of range": 24.5
        },
        {
          "Instrument": "Gold",
          "Weekends": 852,
          "Median (pips)": 95.7,
          "Mean": 282.6,
          "90th pct": 561.1,
          "Largest": 11193.7,
          "Median as % of daily range": 5,
          "Gap > 25% of range": 11.5
        },
        {
          "Instrument": "Silver",
          "Weekends": 786,
          "Median (pips)": 31,
          "Mean": 98.1,
          "90th pct": 169,
          "Largest": 3316,
          "Median as % of daily range": 6.2,
          "Gap > 25% of range": 13.8
        },
        {
          "Instrument": "Brent crude",
          "Weekends": 753,
          "Median (pips)": 21.4,
          "Mean": 50.7,
          "90th pct": 112.8,
          "Largest": 1516,
          "Median as % of daily range": 12,
          "Gap > 25% of range": 27.2
        },
        {
          "Instrument": "US100 (Nasdaq)",
          "Weekends": 667,
          "Median (pips)": 18.5,
          "Mean": 40.5,
          "90th pct": 99.1,
          "Largest": 823.1,
          "Median as % of daily range": 13.3,
          "Gap > 25% of range": 31.5
        },
        {
          "Instrument": "US30 (Dow)",
          "Weekends": 667,
          "Median (pips)": 29.2,
          "Mean": 63.2,
          "90th pct": 154.3,
          "Largest": 1270.5,
          "Median as % of daily range": 10,
          "Gap > 25% of range": 24.7
        },
        {
          "Instrument": "US500 (S&P)",
          "Weekends": 662,
          "Median (pips)": 5.3,
          "Mean": 10.8,
          "90th pct": 24.2,
          "Largest": 311.1,
          "Median as % of daily range": 14.8,
          "Gap > 25% of range": 34
        },
        {
          "Instrument": "GER40 (DAX)",
          "Weekends": 641,
          "Median (pips)": 23,
          "Mean": 43.6,
          "90th pct": 97.5,
          "Largest": 747.3,
          "Median as % of daily range": 12.7,
          "Gap > 25% of range": 27.2
        },
        {
          "Instrument": "AAPL",
          "Weekends": 430,
          "Median (pips)": 100.9,
          "Mean": 266.3,
          "90th pct": 369,
          "Largest": 37153,
          "Median as % of daily range": 30.4,
          "Gap > 25% of range": 56.9
        },
        {
          "Instrument": "TSLA",
          "Weekends": 140,
          "Median (pips)": 433.5,
          "Mean": 557.1,
          "90th pct": 1234.1,
          "Largest": 2742,
          "Median as % of daily range": 39.2,
          "Gap > 25% of range": 64.3
        },
        {
          "Instrument": "NVDA",
          "Weekends": 140,
          "Median (pips)": 225.4,
          "Mean": 1158.6,
          "90th pct": 899.9,
          "Largest": 108774.9,
          "Median as % of daily range": 37.3,
          "Gap > 25% of range": 65
        }
      ]
    },
    {
      "id": "how-often-the-gap-is-closed",
      "caption": "How often the gap is closed, under both definitions",
      "captionSource": "caption",
      "columns": [
        "Instrument",
        "Filled ≤24h (from the open)",
        "Filled ≤24h (settled)",
        "Filled ≤1 week",
        "Still open after 30d",
        "Median hours to fill"
      ],
      "rowCount": 16,
      "rows": [
        {
          "Instrument": "EUR/USD",
          "Filled ≤24h (from the open)": 88.4,
          "Filled ≤24h (settled)": 85,
          "Filled ≤1 week": 95.2,
          "Still open after 30d": 1.8,
          "Median hours to fill": 5
        },
        {
          "Instrument": "GBP/USD",
          "Filled ≤24h (from the open)": 88.3,
          "Filled ≤24h (settled)": 85.4,
          "Filled ≤1 week": 95.1,
          "Still open after 30d": 2.2,
          "Median hours to fill": 7
        },
        {
          "Instrument": "USD/CAD",
          "Filled ≤24h (from the open)": 89.9,
          "Filled ≤24h (settled)": 86.6,
          "Filled ≤1 week": 96,
          "Still open after 30d": 1.4,
          "Median hours to fill": 4
        },
        {
          "Instrument": "USD/JPY",
          "Filled ≤24h (from the open)": 86.3,
          "Filled ≤24h (settled)": 81.6,
          "Filled ≤1 week": 93.7,
          "Still open after 30d": 3.1,
          "Median hours to fill": 3
        },
        {
          "Instrument": "GBP/JPY",
          "Filled ≤24h (from the open)": 87.7,
          "Filled ≤24h (settled)": 84.7,
          "Filled ≤1 week": 95.4,
          "Still open after 30d": 2.4,
          "Median hours to fill": 3
        },
        {
          "Instrument": "CAD/CHF",
          "Filled ≤24h (from the open)": 91.3,
          "Filled ≤24h (settled)": 85.3,
          "Filled ≤1 week": 95.8,
          "Still open after 30d": 1.3,
          "Median hours to fill": 3
        },
        {
          "Instrument": "Gold",
          "Filled ≤24h (from the open)": 89.4,
          "Filled ≤24h (settled)": 82.4,
          "Filled ≤1 week": 95.7,
          "Still open after 30d": 1.5,
          "Median hours to fill": 6
        },
        {
          "Instrument": "Silver",
          "Filled ≤24h (from the open)": 89.8,
          "Filled ≤24h (settled)": 82.3,
          "Filled ≤1 week": 94.8,
          "Still open after 30d": 2.3,
          "Median hours to fill": 3
        },
        {
          "Instrument": "Brent crude",
          "Filled ≤24h (from the open)": 79.2,
          "Filled ≤24h (settled)": 76.6,
          "Filled ≤1 week": 89.1,
          "Still open after 30d": 4.8,
          "Median hours to fill": 9
        },
        {
          "Instrument": "US100 (Nasdaq)",
          "Filled ≤24h (from the open)": 74.5,
          "Filled ≤24h (settled)": 72.4,
          "Filled ≤1 week": 89.2,
          "Still open after 30d": 4.5,
          "Median hours to fill": 12
        },
        {
          "Instrument": "US30 (Dow)",
          "Filled ≤24h (from the open)": 79.3,
          "Filled ≤24h (settled)": 75.4,
          "Filled ≤1 week": 90,
          "Still open after 30d": 3,
          "Median hours to fill": 12
        },
        {
          "Instrument": "US500 (S&P)",
          "Filled ≤24h (from the open)": 73.3,
          "Filled ≤24h (settled)": 71.5,
          "Filled ≤1 week": 88.7,
          "Still open after 30d": 4.2,
          "Median hours to fill": 12
        },
        {
          "Instrument": "GER40 (DAX)",
          "Filled ≤24h (from the open)": 78.6,
          "Filled ≤24h (settled)": 75.5,
          "Filled ≤1 week": 88,
          "Still open after 30d": 3.7,
          "Median hours to fill": 9
        },
        {
          "Instrument": "AAPL",
          "Filled ≤24h (from the open)": 59.3,
          "Filled ≤24h (settled)": 48.8,
          "Filled ≤1 week": 79.1,
          "Still open after 30d": 4,
          "Median hours to fill": 48
        },
        {
          "Instrument": "TSLA",
          "Filled ≤24h (from the open)": 55.7,
          "Filled ≤24h (settled)": 45.7,
          "Filled ≤1 week": 73.6,
          "Still open after 30d": 5,
          "Median hours to fill": 49
        },
        {
          "Instrument": "NVDA",
          "Filled ≤24h (from the open)": 59.3,
          "Filled ≤24h (settled)": 46.4,
          "Filled ≤1 week": 82.9,
          "Still open after 30d": 4.3,
          "Median hours to fill": 28.5
        }
      ]
    },
    {
      "id": "the-reopen-quote-fingerprint-every-fx",
      "caption": "The reopen-quote fingerprint: every FX pair shows it, no other asset class does",
      "captionSource": "caption",
      "columns": [
        "Instrument",
        "Median signed gap (at the open)",
        "Median signed gap (after 1 hour)",
        "Gapped up (from the open)",
        "Gapped up (settled)",
        "First reopen hour closed up"
      ],
      "rowCount": 14,
      "rows": [
        {
          "Instrument": "EUR/USD",
          "Median signed gap (at the open)": -1.3,
          "Median signed gap (after 1 hour)": "+0.50",
          "Gapped up (from the open)": 43.1,
          "Gapped up (settled)": 52,
          "First reopen hour closed up": 62.2
        },
        {
          "Instrument": "GBP/USD",
          "Median signed gap (at the open)": -2.5,
          "Median signed gap (after 1 hour)": "+0.70",
          "Gapped up (from the open)": 42.6,
          "Gapped up (settled)": 52.9,
          "First reopen hour closed up": 66.1
        },
        {
          "Instrument": "USD/CAD",
          "Median signed gap (at the open)": -1.4,
          "Median signed gap (after 1 hour)": "+1.20",
          "Gapped up (from the open)": 45.4,
          "Gapped up (settled)": 56.2,
          "First reopen hour closed up": 68.1
        },
        {
          "Instrument": "AUD/USD",
          "Median signed gap (at the open)": -2,
          "Median signed gap (after 1 hour)": -0.4,
          "Gapped up (from the open)": 42,
          "Gapped up (settled)": 47.9,
          "First reopen hour closed up": 60.5
        },
        {
          "Instrument": "EUR/GBP",
          "Median signed gap (at the open)": -2,
          "Median signed gap (after 1 hour)": "+0.80",
          "Gapped up (from the open)": 40.2,
          "Gapped up (settled)": 55.1,
          "First reopen hour closed up": 65.9
        },
        {
          "Instrument": "EUR/CHF",
          "Median signed gap (at the open)": -2.5,
          "Median signed gap (after 1 hour)": "+0.10",
          "Gapped up (from the open)": 37.8,
          "Gapped up (settled)": 50.1,
          "First reopen hour closed up": 67
        },
        {
          "Instrument": "NZD/CHF",
          "Median signed gap (at the open)": -4.5,
          "Median signed gap (after 1 hour)": -1.1,
          "Gapped up (from the open)": 36.7,
          "Gapped up (settled)": 45.3,
          "First reopen hour closed up": 64.5
        },
        {
          "Instrument": "USD/JPY",
          "Median signed gap (at the open)": -1.9,
          "Median signed gap (after 1 hour)": "+2.50",
          "Gapped up (from the open)": 41.4,
          "Gapped up (settled)": 60.4,
          "First reopen hour closed up": 70.8
        },
        {
          "Instrument": "GBP/JPY",
          "Median signed gap (at the open)": -7.75,
          "Median signed gap (after 1 hour)": -0.5,
          "Gapped up (from the open)": 35.5,
          "Gapped up (settled)": 48.2,
          "First reopen hour closed up": 68.6
        },
        {
          "Instrument": "AUD/JPY",
          "Median signed gap (at the open)": -4.1,
          "Median signed gap (after 1 hour)": "+0.25",
          "Gapped up (from the open)": 38.1,
          "Gapped up (settled)": 50.4,
          "First reopen hour closed up": 70.4
        },
        {
          "Instrument": "Gold",
          "Median signed gap (at the open)": "+7.35",
          "Median signed gap (after 1 hour)": "+11.55",
          "Gapped up (from the open)": 51.9,
          "Gapped up (settled)": 51.5,
          "First reopen hour closed up": 51.3
        },
        {
          "Instrument": "US100 (Nasdaq)",
          "Median signed gap (at the open)": "+2.19",
          "Median signed gap (after 1 hour)": "+2.84",
          "Gapped up (from the open)": 56.2,
          "Gapped up (settled)": 54.9,
          "First reopen hour closed up": 48.9
        },
        {
          "Instrument": "US500 (S&P)",
          "Median signed gap (at the open)": "+0.62",
          "Median signed gap (after 1 hour)": "+0.68",
          "Gapped up (from the open)": 54.5,
          "Gapped up (settled)": 54.1,
          "First reopen hour closed up": 49.2
        },
        {
          "Instrument": "GER40 (DAX)",
          "Median signed gap (at the open)": "+4.40",
          "Median signed gap (after 1 hour)": "+5.38",
          "Gapped up (from the open)": 56.9,
          "Gapped up (settled)": 55.2,
          "First reopen hour closed up": 49.5
        }
      ]
    },
    {
      "id": "session-to-session-overnight-gaps-previous",
      "caption": "Session-to-session (overnight) gaps: previous close to next open",
      "captionSource": "caption",
      "columns": [
        "Instrument",
        "Sessions",
        "Median gap (pips)",
        "As % of a normal day's range",
        "Sessions gapping > 10% of range"
      ],
      "rowCount": 25,
      "rows": [
        {
          "Instrument": "NVDA",
          "Sessions": 770,
          "Median gap (pips)": 199,
          "As % of a normal day's range": 32.9,
          "Sessions gapping > 10% of range": 79.7
        },
        {
          "Instrument": "TSLA",
          "Sessions": 770,
          "Median gap (pips)": 281,
          "As % of a normal day's range": 25.4,
          "Sessions gapping > 10% of range": 77.7
        },
        {
          "Instrument": "AAPL",
          "Sessions": 2384,
          "Median gap (pips)": 83.1,
          "As % of a normal day's range": 25,
          "Sessions gapping > 10% of range": 76.6
        },
        {
          "Instrument": "Brent crude",
          "Sessions": 3853,
          "Median gap (pips)": 10,
          "As % of a normal day's range": 5.6,
          "Sessions gapping > 10% of range": 30.7
        },
        {
          "Instrument": "US500 (S&P)",
          "Sessions": 3400,
          "Median gap (pips)": 0.3,
          "As % of a normal day's range": 0.8,
          "Sessions gapping > 10% of range": 19.9
        },
        {
          "Instrument": "GER40 (DAX)",
          "Sessions": 3306,
          "Median gap (pips)": 1,
          "As % of a normal day's range": 0.5,
          "Sessions gapping > 10% of range": 23.3
        },
        {
          "Instrument": "Silver",
          "Sessions": 4006,
          "Median gap (pips)": 2,
          "As % of a normal day's range": 0.4,
          "Sessions gapping > 10% of range": 11.4
        },
        {
          "Instrument": "US30 (Dow)",
          "Sessions": 3413,
          "Median gap (pips)": 1.1,
          "As % of a normal day's range": 0.4,
          "Sessions gapping > 10% of range": 19.5
        },
        {
          "Instrument": "AUD/CAD",
          "Sessions": 4321,
          "Median gap (pips)": 0.2,
          "As % of a normal day's range": 0.3,
          "Sessions gapping > 10% of range": 13.5
        },
        {
          "Instrument": "US100 (Nasdaq)",
          "Sessions": 3412,
          "Median gap (pips)": 0.4,
          "As % of a normal day's range": 0.3,
          "Sessions gapping > 10% of range": 17.7
        },
        {
          "Instrument": "EUR/GBP",
          "Sessions": 4194,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 10.8
        },
        {
          "Instrument": "EUR/CHF",
          "Sessions": 4194,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 11.9
        },
        {
          "Instrument": "NZD/CHF",
          "Sessions": 4196,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 12.8
        },
        {
          "Instrument": "CAD/CHF",
          "Sessions": 4321,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 13.3
        },
        {
          "Instrument": "GBP/JPY",
          "Sessions": 4194,
          "Median gap (pips)": 0.2,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 12.2
        },
        {
          "Instrument": "Gold",
          "Sessions": 4420,
          "Median gap (pips)": 3,
          "As % of a normal day's range": 0.2,
          "Sessions gapping > 10% of range": 11
        },
        {
          "Instrument": "EUR/USD",
          "Sessions": 4252,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 9.8
        },
        {
          "Instrument": "GBP/USD",
          "Sessions": 4253,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 10.1
        },
        {
          "Instrument": "USD/CAD",
          "Sessions": 4253,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 11.1
        },
        {
          "Instrument": "AUD/USD",
          "Sessions": 4196,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 11.7
        },
        {
          "Instrument": "USD/JPY",
          "Sessions": 4195,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 13
        },
        {
          "Instrument": "EUR/JPY",
          "Sessions": 4195,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 12.1
        },
        {
          "Instrument": "AUD/JPY",
          "Sessions": 4194,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 13.5
        },
        {
          "Instrument": "BTC/USD",
          "Sessions": 2704,
          "Median gap (pips)": 0.6,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 13.5
        },
        {
          "Instrument": "ETH/USD",
          "Sessions": 2561,
          "Median gap (pips)": 0.1,
          "As % of a normal day's range": 0.1,
          "Sessions gapping > 10% of range": 13.1
        }
      ]
    }
  ]
}