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.
1,747 documents
The document describes auto-deleveraging (ADL) as an emergency futures risk mechanism used when an insurance fund cannot cover losses remaining after forced liquidation. A selected counterparty’s position may be partially or fully reduced to match the…
The document introduces USDT-margined perpetual futures linked to tokenized stock indices, with examples tied to major US companies. It explains an account setup and trading workflow: fund a futures account, select a contract, choose leverage and margin…
The document explains commodity perpetual futures settled and margined in USDT, using oil, Brent oil, and natural gas as examples. It describes how these contracts provide price exposure without expiry or physical delivery, and outlines the trading workflow:…
Parcl is presented as a decentralized exchange for perpetual synthetic exposure to real estate markets. Rather than trading individual properties, users trade city indices based on measures such as median property price per area. The platform organizes each…
The document explains Drift as a Solana-based decentralized exchange offering spot trading with margin, perpetual futures, borrowing and lending, and passive liquidity provision. It describes three sources of trade liquidity: short auctions where market…
This exchange guide introduces USDT-margined futures, focusing on perpetual contracts, funding rates, margin terminology, and isolated versus cross margin. Its most useful trading details are the distinct liquidation conditions: isolated positions depend on…
The article reports Bitcoin’s first move above $100,000 and describes possible contributors: demand for spot Bitcoin ETFs, corporate accumulation, and expectations for crypto-friendly U.S. policy after the presidential election. It places the rally in…
The article reviews the early trading of Pump.fun’s PUMP token, describing a sharp post-launch rise followed by consolidation above its presale level. It cites spot and derivatives activity, including open interest, perpetual trading volume, and positive…
The guide compares several routes for crypto holders seeking S&P 500 exposure without first withdrawing funds to a bank: tokenized ETF products, ETF or index perpetual futures, CFDs, and real ETF shares funded through a platform’s digital-asset process. It…
The document explains how a unified margin account can use tokenized equities alongside crypto and stablecoins as collateral for derivatives positions. The exchange applies a haircut to each tokenized stock’s value before counting it as usable margin; the…
The article contrasts conventional futures, which expire and settle on set dates, with crypto perpetual futures, which have no expiry. Because perpetual contracts do not settle by converging with spot at expiration, the document explains that funding…
The article outlines the planned PUMP sale, including its stated timing, participation channels, transfer expectations, token supply allocations, and vesting schedule. It describes the token as a Solana ecosystem launch and notes that perpetual futures…
The document explains liquidation in leveraged crypto trading: when losses erode the collateral supporting a position, an exchange may issue a margin call and then close the position if the trader does not add sufficient margin. It uses a simplified 10x…
The article introduces perpetual futures as contracts without a fixed expiration, in contrast with conventional futures that settle at a specified date. It says perpetual prices are linked to an underlying index based on spot prices and trading volume, and…
This beginner guide contrasts Bitcoin’s scarce-supply, store-of-value narrative with Ethereum’s role as a programmable network, then surveys ways to gain exposure to both assets. It explains direct spot ownership and dollar-cost averaging through recurring…
The article explains how to assess liquidity in SPCXUSDT, a USDT-margined perpetual contract linked to SpaceX shares. It distinguishes trading volume and open interest, which describe activity and outstanding positions, from order-book depth, which shows…
The document explains three ways Bitget provides exposure to U.S. equities: direct shares and ETFs through Stock+, tokenized stock exposure through rTokens, and perpetual futures for leveraged long or short trades. It distinguishes the ownership rights,…
The document explains how to assess liquidity in a SpaceX-linked perpetual futures contract settled in USDT. It distinguishes trading volume from available liquidity and recommends checking the bid-ask spread, cumulative order-book depth, expected slippage,…
The document compares order book depth for MSFT, AMZN, AAPL, and META perpetual contracts across trading platforms during July 21–27, 2026. It measures liquidity within 5, 10, and 50 basis points of the touch, using quoted depth in USDT. The reported figures…
The document compares three ways to access US stocks through Bitget: Stock+ for real shares and ETFs, tokenized stock exposure through rTokens, and USDT-margined stock perpetual futures. It outlines how each product works, describes account setup and funding…
The article compares two crypto-based routes to pre-IPO company exposure. IPO Prime uses stablecoin subscriptions for tokens tied by contractual arrangements to selected companies’ economic performance. Allocation depends on each offering’s rules and demand,…
The document summarizes several exchange product features. It describes a bearish structured yield product whose return depends on the asset settling within a preset range, and accumulator or decumulator plans that schedule purchases or sales around target…
The article surveys five Solana decentralized exchanges and describes how their designs suit different trading needs. Jupiter is presented as an aggregator that routes swaps across liquidity sources, while Raydium combines automated market making with…
The document explains commodity perpetual futures through three connected drivers: physical supply and demand, inventory levels, and macroeconomic cycles. It describes how disruptions, seasonal patterns, stock changes, economic growth, interest rates, the…