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Methodology

How we calculate the P2P Naira rate

This page explains exactly how the USDT/NGN P2P market reference is produced, so you can judge its reliability and limits.

Sources

  • Binance P2P public offer book (https://p2p.binance.com/bapi/c2c/v2/friendly/c2c/p2p/searchAds)
  • Binance P2P compatibility endpoint (https://p2p.binance.com/bapi/c2c/v2/friendly/c2c/adv/search)
  • Bybit P2P public offer book (https://api2.bybit.com/fiat/otc/item/online)

Both buy and sell sides are requested when the source exposes them. Data is collected over HTTP with a timeout of 8s and limited retries.

Inclusion criteria

  • Asset must be USDT and fiat must be NGN.
  • Price must be a positive finite number.
  • At least 3 valid offers are required per side.
  • Offers must be collected within the configured staleness threshold.

Exclusion criteria and outlier treatment

Statistical outliers are removed using the interquartile range (IQR) method with a multiplier of 1.5. Values below Q1 − 1.5×IQR or above Q3 + 1.5×IQR are excluded. After outlier removal, the lowest and highest 10% of values are trimmed before computing the trimmed mean.

Average, median, and trimmed average

Average (mean)
The sum of prices divided by the count.
Median
The middle value when prices are sorted.
Trimmed average
The mean after removing outliers and trimming the extremes. This is the primary displayed rate.

Limitations

  • We only observe a sample of visible public offers, not the entire market.
  • Unavailable or blocked sources reduce the sample size.
  • Advertisers can change prices, limits, and availability at any time.
  • The rate is not a guaranteed execution price.

Correction policy

If you spot an error in the displayed data or methodology, please use the contact form. We review reports and update the methodology or data handling when a verifiable issue is confirmed.

Methodology FAQ

How is the trimmed average calculated?

We collect valid public offers, remove statistical outliers using the interquartile range method, then remove the lowest and highest extremes and compute the mean of the remaining sample.

Why remove outliers?

Extreme offers can distort a simple average. Removing outliers makes the reference more representative of the typical visible market.

What happens when a source is down?

If one source fails, we try the other. If no source returns enough valid offers, the snapshot is marked as unavailable and the last valid rate is kept as stale data until a new successful collection occurs.

Important

p2pnairarate.online is an informational tool only. It is not an exchange, broker, wallet, financial service, payment service, or trading recommendation. Rates are estimates based on public offers and may differ from the price you receive on a platform. Always confirm values directly before transacting.