The mean relative fee of transactions waiting in the mempool. The relative fee is calculated as the total transaction fees divided by the transacion size (in vByte). High relative fees give an indication of transaction urgency as miners do not consider total transaction fee but fee per size, as the total fee they can collect is limited by the block space.

This is the Point-in-Time (PiT) variant of Mempool Average Relative Fee. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.