scale to 1B users, low latency. websocket per exchange feed -> kafka -> stream processor (flink/spark) -> redis for hot quotes -> websocket fanout to clients. for display: aggregation rules per asset (median across exchanges, exclude outliers). they pushed on what if an exchanges feed goes silent. heartbeat + fallback to last known + UI indicator

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Coinbase L5 HLD - multi exchange dashboard

scale to 1B users, low latency.