Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
9,797 documents
This weekly market recap describes shifts in BTC and ETH futures yields and options metrics. It reports a recovery in annualized futures yields, especially in shorter maturities, alongside cooling at-the-money implied volatility. The implied volatility…
This retrospective examines whether options and futures activity offered clues before Bitcoin’s May 19, 2021 sell-off. It highlights a large purchase of short-dated $46,000 puts on May 14 and a sharp rise in open interest, followed by unusually heavy options…
This weekly market recap compares BTC and ETH sentiment using perpetual swap funding, futures prices relative to spot, and options volatility and skew. It finds BTC somewhat stronger in futures and perpetual markets: funding stayed mostly positive and…
This weekly market report describes a sharp correction in Bitcoin and Ethereum and examines how derivatives prices reflect bearish positioning. It highlights short-dated futures trading below spot, persistently negative perpetual swap funding, and options…
This weekly report interprets crypto derivatives indicators for Bitcoin and Ethereum. It describes rising futures-implied yields and perpetual swap funding, alongside higher implied volatility, with the strongest volatility increase at short maturities. The…
This weekly report reviews Bitcoin and Ether derivatives ahead of an FOMC meeting. It describes options sentiment as neutral to bearish despite expectations of a rate cut and anticipated liquidity support. Bitcoin’s funding rates remain positive while spot…
This weekly report examines how crypto derivatives responded to a dovish interpretation of a central-bank speech. It describes a rally in Bitcoin and Ethereum followed by divergent behavior: Bitcoin sold off over the weekend while Ethereum held closer to its…
This weekly report interprets BTC and ETH futures, perpetual swap funding, and options volatility surfaces in the lead-up to an anticipated ETF announcement. It describes a kink in the at-the-money volatility term structure moving toward shorter expiries,…
This weekly report compares BTC and ETH derivatives after BTC approached a new all-time high and ETH outperformed. It tracks futures implied yields, perpetual funding rates, at-the-money implied volatility, and 25-delta risk reversals. The report describes…
This weekly market report reviews BTC and ETH derivatives after a period of spot-price weakness followed by a recovery. It describes front-end futures yields rising and flattening the yield curve, while short-dated implied volatility increased more sharply…
This weekly report reviews crypto derivatives positioning after Bitcoin fell below $60,000 and then rebounded above $70,000, while Ether recovered above $2,000. It combines perpetual swap funding, futures-implied yields, at-the-money implied volatility, and…
This tutorial explains how linked conditional orders can coordinate an entry with profit-taking and stop-loss exits. A one-triggers-other setup holds secondary orders until a primary entry fills. A one-cancels-other link cancels one exit when its counterpart…
This weekly review examines Bitcoin and Ether derivatives after a surge in realised volatility associated with SEC lawsuits against Coinbase and Binance. It compares futures-implied yields and perpetual swap funding with options measures, including…
This weekly market review interprets futures yields, perpetual swap funding, and options volatility and skew for Bitcoin and Ether. It links short-tenor futures yields and a sharp rise in BTC funding to increased demand for leveraged long exposure as BTC…
The document explains Deribit’s planned automated fee discount tiers, including how accounts qualify, how options and futures volume are counted, and when fee levels change. The initial assignment uses October activity, after which upgrades are evaluated…
This weekly report describes deteriorating risk appetite across BTC and ETH after a broad risk-off move. It compares three derivatives signals: perpetual funding, futures-implied yields, and options volatility skew. ETH perpetual funding reached its most…
This weekly market recap links a sharp spot correction to the unwinding of leveraged long positions in BTC and ETH derivatives. It tracks futures-implied yields moving toward zero as futures prices converge toward spot, and perpetual funding rates moderating…
This weekly report surveys BTC and ETH derivatives after a post-election rally. It interprets futures yields, perpetual funding, option skew, and at-the-money implied volatility as indicators of stronger bullish sentiment. According to the report, yields and…
This weekly report tracks crypto derivatives indicators around a rising-volatility period and a higher-than-expected US inflation reading. It describes how option volatility smiles shifted toward out-of-the-money calls, futures-implied yields rose to levels…
This commentary compares changes in BTC and ETH futures-implied yields with the shape of options volatility smiles during a period of market stress and recovery. Futures-implied yields had moved closer to zero and the term structures flattened, which the…
This educational overview explains how an exchange’s margin and liquidation process interacts with an insurance fund. Maintenance margin supports leveraged positions; if a trader is liquidated, the exchange transfers the position, and the insurance fund is…
This guide explains why dated futures prices tend to converge toward spot as expiration approaches and how traders can capture a futures premium with a cash-and-carry position. Its example pairs a spot Bitcoin purchase with a short futures position,…
The article explains exchange trading bandwidth limits: bounds around a mark price that prevent trades from executing at prices judged too far away. These controls aim to reduce isolated spikes caused by thin order books, oversized orders, stop runs or…
This weekly review connects the 2022 crypto selloff to inflation, expected Federal Reserve tightening and withdrawals of market liquidity. It describes how the May CPI release and concerns about further rate increases coincided with broad risk asset selling.…