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
This weekly snapshot reviews BTC and ETH derivatives using futures-implied yields, perpetual swap funding, option implied volatility, risk reversals, and volatility surfaces. It reports positive BTC futures yields and funding alongside negative ETH readings…
This weekly market recap compares Bitcoin and Ether derivatives using futures implied yields, perpetual swap funding, options volatility, risk reversals, and volatility surfaces. It describes ETH yields weakening most at shorter maturities after a spot…
This weekly market recap reviews BTC and ETH futures, perpetual swap funding, and options volatility. It reports that one-month at-the-money implied volatility was near 40% and broadly steady after a prior decline. Futures yields, funding rates, risk…
This commentary reads Bitcoin and Ether options activity alongside spot prices, funding, realized volatility, and implied volatility during late August and early September 2022. It interprets positive put skew, negative perpetual funding, and limited implied…
This comparison explains how Bitcoin perpetual swaps work and how their funding and margin specifications differed across exchanges. A perpetual contract has no expiry date; periodic funding payments are intended to keep its price aligned with a reference…
This weekly market recap reviews Bitcoin and Ether futures, perpetual funding, and options volatility. It describes a more compressed implied-volatility term structure: front-end volatility rose while longer-dated volatility was flat or lower. Bitcoin’s…
This weekly report summarizes market conditions in Bitcoin and Ether derivatives. It describes futures-implied yields as broadly flat in a low range across maturities, while short-lived realised volatility led at-the-money implied volatility to rise and then…
This weekly recap describes how a weekend selloff and subsequent rally appeared in BTC and ETH derivatives. It follows futures-implied yields and perpetual swap funding rates, reporting that yields became strongly negative before recovering, while BTC…
This weekly report summarizes BTC and ETH derivatives conditions after their rallies. It observes short-dated futures yields converging toward longer tenors, while options volatility surfaces changed less at longer maturities and showed higher short-dated…
This weekly market recap summarizes Bitcoin and Ether derivatives conditions during the reporting period. It describes BTC spot stabilizing after a decline, with futures yields, perpetual funding, and short-dated option skew showing signs of recovery. ETH is…
The article compares USDe, BUIDL, and USYC as tokens intended to hold relatively stable value while generating returns. USDe’s backing uses crypto assets hedged with derivatives, with cash-and-carry trades as a source of yield. BUIDL and USYC instead hold…
The notice describes a scheduled reduction in minimum price increments for nine linear USDC perpetual contracts. It lists each contract’s old and new tick size and says the update applies to both displayed order books and block trades. The stated goal is to…
This weekly market recap interprets futures yields, perpetual funding, implied volatility, and options skew for BTC and ETH during the days before an election. It describes falling futures yields and funding rates as signs that traders were reducing…
The commentary examines a rally in Bitcoin and Ether using spot prices, perpetual swap funding rates, and one-month futures-implied spot yields. It reports that both assets rose, with Ether recovering relative to its recent underperformance. Bitcoin demand…
This weekly market review compares Bitcoin and Ether derivatives conditions through futures yields, perpetual swap funding, implied volatility, and options smile skew. It describes a divergence between the two assets: Ether options carried a volatility…
This weekly report examines Bitcoin and Ether derivatives around the January 2025 presidential inauguration. It describes how expectations for executive actions, including a possible strategic Bitcoin reserve, coincided with elevated short-dated futures…
This weekly report reviews Bitcoin and Ether derivatives during a strong spot-price rally. It tracks futures-implied yields, perpetual swap funding, at-the-money implied volatility, 25-delta risk reversals, and volatility surfaces. The analysis describes how…
This weekly report reviews crypto derivatives after a sharp Bitcoin spot decline. It connects the selloff with a weaker risk appetite reading, a renewed run of spot Bitcoin ETF outflows, and defensive positioning in options and perpetual futures. It also…
Perpetual swaps lack the expiry date that helps conventional futures converge with spot, so funding payments between long and short holders are used to encourage the contract price back toward its index. When the swap trades below the index, shorts pay…
This commentary compares Bitcoin and Ether derivatives after the announcement of spot Bitcoin ETF approval. It reports that annualized futures-implied yields declined from earlier leveraged-long highs but stayed above 10% across maturities. Shorter-tenor…
This podcast listing previews a discussion of crypto markets amid bond-market uncertainty and tariff concerns. The hosts and guest are described as covering Bitcoin’s resilience near an all-time high, muted volatility as a possible source of trading…
The essay argues that Bitcoin’s historical dominance was reinforced by market structure as well as by its perceived qualities. It describes how Bitcoin-margined perpetual swaps made BTC the common collateral and profit-and-loss unit for trading other assets.…
The commentary compares falling BTC and ETH volatility with sustained demand for leveraged long exposure. Implied volatility has reached new lows across maturities as realized volatility declines, yet perpetual swap funding has remained positive since late…
This weekly market commentary interprets BTC and ETH derivatives indicators during a rebound after a holiday lull and a burst of geopolitical volatility. It tracks implied volatility, perpetual funding, futures yields, risk reversals, ETF flows, and an…