Derivatives field guide
Leverage data is evidence, not a signal generator.
Funding, open interest and liquidations become useful when their definitions match and they are read beside price response. These guides show the combinations, contradictions and data-contract details that one-number explanations leave out.
Crypto funding rate
Understand perpetual funding rates, annualized context, what positive and negative funding mean, and why extreme funding is not a standalone reversal signal.
Definition · combinations · failure modesCrypto open interest
Learn what crypto open interest measures, why rising OI is not automatically bullish, and how to combine OI with price, funding, flow and liquidations.
Definition · combinations · failure modesCrypto long short ratio
Understand account and position long-short ratios, top-trader differences, crowding signals and why a majority reading does not predict the next move.
Definition · combinations · failure modesTaker buy sell ratio
Learn how taker buy/sell volume measures aggressive flow, how it relates to CVD, and why price response matters more than a raw ratio above or below one.
Definition · combinations · failure modesCrypto liquidations
Understand long and short liquidations, forced-flow cascades, open-interest changes and why liquidation data is context rather than an automatic reversal signal.
Definition · combinations · failure modesOptions max pain
Learn how Bitcoin and Ethereum options max pain is calculated from open interest, why it is not a price target, and how to read it beside strikes, expiry size and implied range.
Definition · combinations · failure modesOptions gamma exposure
Understand Bitcoin options gamma exposure, the dealer positioning it assumes, the zero gamma level, vanna and charm, and why GEX is a model of hedging rather than a measurement.
Definition · combinations · failure modesImplied volatility and skew
Learn how Bitcoin implied volatility, 25-delta risk reversals, butterflies and the term structure are built, how they differ from DVOL, and how to read them without overclaiming.
Definition · combinations · failure modesKeep the data contract
Venue, unit, window and timestamp belong beside every value. Without them, two correct numbers can look like a contradiction.
Read combinations
Price plus OI plus funding narrows the explanation. A standalone green or red label usually hides the important branch.
Demand price response
Positioning can stay extreme. Structure and acceptance reveal when that positioning finally matters.
Updated 2026-09-14 · Data sources · Free live derivatives data · Free options analytics