Weekly Crypto Derivatives Signals from Futures, Funding, and Options
Summary
This weekly report summarizes BTC and ETH derivatives conditions using futures yields, perpetual swap funding, and options volatility measures. It says spot price swings did not produce a similarly large rise in implied volatility, which stayed within a stated range across maturities. Futures annualized yields differed between the assets, while perpetual funding indicated sustained demand for long exposure, especially in BTC. For ETH, the report describes short holders receiving funding as longs paid to maintain exposure.
Options observations include elevated BTC at-the-money implied volatility, put-skew during a brief price decline, and a subsequent move back toward neutral. ETH implied volatility remained within its recent range, with longer tenors higher, while its risk reversal moved down alongside BTC. The report also describes differing changes across each asset’s volatility surface and defines its z-score by reference to the prior 30 days of hourly data. These are timestamped market observations, not a tested trading strategy; the text provides no charts or full tables to independently assess the signals.
Key ideas
- Spot volatility did not translate into a comparable broad increase in implied volatility during the reported week.
- Futures yields and perpetual funding indicated persistent demand for long exposure, with differences between BTC and ETH.
- BTC put skew increased during a short downturn before moving back toward neutral.
- The report compares volatility surfaces and calculates z-scores from the preceding 30 days of hourly observations.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.