Derivasys
Seven live markets

Derivasys crypto options analytics

Live Crypto Options Volatility Surfaces

Monitor fitted SVI surfaces for BTC, ETH, SOL, XRP, HYPE, AVAX and TRX, with live smiles, skew and term structure alongside venue quote provenance, calibration health and surface freshness.

Built for options traders, quants, risk teams and developers.

Open seven live marketsRequest API testing access

Bitcoin, Ethereum, Solana, XRP, Hyperliquid HYPE, Avalanche and Tron are verified production coverage.

Live cross-asset market signals

UPDATED 52S AGO

Seven live crypto options marketsDeribit + OKX provenanceSVI calibration diagnosticsPublic dashboard

Derivasys market intelligence

Read the surface, every day and every week.

Browse all reports
BTC Daily report

Bitcoin options add convexity as front-end volatility firms

Bitcoin one-week BF25 increased 0.25 volatility points to 2.12%, the day’s notable surface adjustment, while one-week ATM IV rose 0.90 points to 40.47%. The BF25 measure captures the relative richness of options away from the centre of the distribution. DerivaSys data showed front-end ATM IV averaging 39.36%, up 0.69 points; Bitcoin’s 24-hour spot-index return was 0.02%, and one-week implied volatility remained 7.40 points above seven-day realised volatility.

Average ATM Δ
+0.50 vol pts
Average RR25 Δ
-0.08 vol pts
Average BF25 Δ
+0.14 vol pts
Read daily report
ETH Daily report

Ether options gain convexity as short-dated volatility strengthens

Ether one-month BF25 rose 0.50 volatility points to 3.22%, the material surface move, while one-week ATM IV climbed 2.12 points to 52.31%. BF25 measures the relative pricing of options away from the centre of the distribution. DerivaSys data put front-end ATM IV at 52.53%, up 1.74 points; Ether’s 24-hour spot-index return was 0.13%, and one-week implied volatility exceeded seven-day realised volatility by 9.23 points.

Average ATM Δ
+1.28 vol pts
Average RR25 Δ
+0.41 vol pts
Average BF25 Δ
+0.25 vol pts
Read daily report
SOL Daily report

Solana options rotate as short-dated volatility eases

Solana’s 18SEP26 option smile rotated lower by 1.19 volatility points, the largest surface movement, while front-end ATM IV averaged 53.37%, down 0.59 points. The two-week ATM IV fell 0.79 points to 52.93%. DerivaSys data showed one-week RR25 moving 0.38 points toward puts to 0.90%, although calls remained relatively richer than puts. Realised-volatility comparisons were unavailable because the canonical minute series did not meet completeness requirements.

Average ATM Δ
-0.46 vol pts
Average RR25 Δ
+0.07 vol pts
Average BF25 Δ
+0.16 vol pts
Read daily report
MAJORS Daily report

Major-coin options show one-week relative volatility level dispersion between Solana and Bitcoin

One-week ATM IV dispersion across Bitcoin, Ether and Solana narrowed 1.59 volatility points to 14.19 points, with Solana at 54.66% and Bitcoin at 40.47%. The convergence in levels obscured a divergent daily repricing: Ether’s one-week ATM IV rose 2.12 points while Solana’s fell 0.69 points. DerivaSys data therefore show less separation in prevailing volatility levels but a clear leader in the day’s volatility adjustment.

Average ATM Δ
+0.44 vol pts
Average RR25 Δ
+0.13 vol pts
Average BF25 Δ
+0.18 vol pts
Read daily report
ALTS Daily report

Altcoin options: TRX leads XRP in implied-versus-realised volatility

Altcoin options showed their clearest relative-value split in the one-week implied-versus-realised measure. TRX one-week ATM IV stood 7.72 volatility points above seven-day realised volatility, while XRP one-week ATM IV sat 7.74 points below its realised reading, leaving a 15.46-point range. DerivaSys data also showed XRP as the sole one-week volatility riser while HYPE posted the largest decline.

Average ATM Δ
-0.47 vol pts
Average RR25 Δ
-0.16 vol pts
Average BF25 Δ
+0.04 vol pts
Read daily report
BTC Weekly report

Bitcoin options turn call-rich as two-week skew reprices

Bitcoin two-week RR25 rose 3.22 volatility points to 1.61%, shifting from put-rich to call-rich pricing and registering as a notable historical move. Front-end ATM IV increased 1.92 points over the week, while long-dated ATM IV was broadly unchanged. The two-week ATM IV rise was 2.54 points to 36.73%.

Average ATM Δ
+1.35 vol pts
Average RR25 Δ
+2.21 vol pts
Average BF25 Δ
+0.05 vol pts
Read weekly report
CROSS_ASSET Weekly report

Crypto options reset as Solana drives the weekly divergence in one-week ATM IV

Solana’s one-week ATM IV fell 20.89 volatility points, while Bitcoin’s one-week ATM IV rose 1.76 volatility points. Seven-market one-week ATM IV changes spanned 22.65 volatility points. HYPE’s one-week ATM IV was 62.25%.

Average ATM Δ
-8.28 vol pts
Average RR25 Δ
+1.84 vol pts
Average BF25 Δ
-0.27 vol pts
Read weekly report

Live asset coverage

One workflow across seven crypto options volatility surfaces.

Use consistent SVI, term-structure, skew, convexity, and fit-health definitions while keeping each asset's market state separate.

Bitcoin / BTC

Live Bitcoin options volatility surface.

Inspect BTC expiry smiles, ATM volatility, RR25, BF25, venue context, and calibration state.

Explore Bitcoin volatility analytics

Solana / SOL

Live Solana options volatility surface.

Inspect SOL expiry smiles, ATM volatility, RR25, BF25, venue context, and calibration state.

Explore Solana volatility analytics

Altcoins / XRP · HYPE · AVAX · TRX

Four live altcoin options volatility surfaces.

Inspect each market's own forwards, expiry smiles, ATM volatility, skew, curvature and calibration state.

Explore altcoin volatility analytics

Production evidence

Seven-market production evidence

Asset-specific captures preserve what the product showed at verification. Open the dashboard for current state.

BTC33.73% ATM-2.58 RR25 · 11 native expiriesETH53.9% ATM+1.16 RR25 · 12 native expiriesSOL68.4% ATM+1.28 RR25 · 6 native expiriesXRP67.1% ATM+3.73 RR25 · 6 native expiriesHYPE69.8% ATM+5.43 RR25 · 6 native expiriesAVAX57.5% ATM+2.57 RR25 · 6 native expiriesTRX22.4% ATM+0.82 RR25 · 6 native expiries

Reproducible BTC detail captured 15 July 2026, 10:16:07 UTC

BTC ATM
33.73%
RR25
-2.58 vol pts
BF25
+0.56 vol pts
Active expiries
11
Source quotes
423
Fit state
Accepted at capture
Frozen BTC ATM volatility term structureEleven accepted expiry points ranging from 29.46 to 42.29 percent implied volatility.
ATM volatility across the 11 captured expiries.

Source: Derivasys production WebSocket surface state. The frozen artifact does not preserve the per-venue mix, so no venue-specific claim is attached to these values.

Open all seven live markets

What you can inspect

The surface, its market inputs and its fit state.

02

Skew and term structure

Read ATM volatility, RR25, BF25 and fixed-tenor views.

Read the skew guide

03

Market provenance

Keep bid, ask and trade-IV context from supported venues beside the fit.

Review the methodology

Connected evidence

Know whether the surface is usable—not just where it is.

Derivasys keeps the fitted surface connected to the quote provenance and calibration state used to produce it: fit residuals, source freshness, publication state and risk-node consistency.

  1. 01Venue quotes
  2. 02Implied volatility
  3. 03SVI fit
  4. 04Diagnostics
  5. 05Published surface

Product views

Inspect the surface from fit to risk node.

Each preview shows a distinct part of the current dashboard workflow.

Derivasys live dashboard with SOL selected, Solana spot near $105, SOL volatility metrics, BTC ETH and SOL controls, and a Solana SVI surface
SurfaceLive SOL dashboardThe SOL-selected volatility surface with live asset controls, SVI fit state, term structure, and data quality.
Derivasys SOL risk analytics with Solana selected and SOL-scale ATM, risk reversal, and butterfly values
RiskSOL risk analyticsLive SOL risk reversals and butterfly structure across Solana expiries.
Derivasys Solana smile matrix with SOL selected and SOL forwards near $105 across fitted expiry smiles
SmilesSOL smile matrixExpiry-by-expiry SOL SVI smiles with fitted marks and live venue quote context.
Derivasys live dashboard with ETH selected and the BTC ETH and SOL market controls visible
Cross-assetLive ETH dashboardMove between SOL, ETH and BTC without changing the surface, smile or risk workflow.
Live Derivasys XRP options volatility surface with XRP selected and six directly fitted expiries
XRP surfaceLive XRP dashboardXRP-specific spot, term structure and six fitted expiry smiles in the production surface view.
Live Hyperliquid HYPE options smile matrix with fitted SVI curves and Deribit marks
HYPE smilesHyperliquid HYPE smile matrixLive HYPE SVI curves beside the option marks supporting each native expiry smile.
Live Avalanche AVAX options risk analytics with maturity risk reversals and butterflies
AVAX riskAvalanche skew and fliesAVAX risk reversals and butterfly curvature across its own maturity structure.
Live Tron TRX options volatility surface with TRX selected and six directly fitted expiries
TRX surfaceLive Tron dashboardTRX-specific spot, forwards, term structure and calibration evidence rather than recycled major-coin values.

Who it is for

Move from market question to inspectable state.

Traders

Replace disconnected exchange screens and model output with live cross-asset skew and term structure kept beside venue quote context.

Open the trader view

Quants and risk teams

Avoid a separate residual-checking workflow by inspecting fitted smiles and risk nodes alongside their market state.

Review the SVI methodology

Developers

Evaluate structured surface, smile, risk-node and diagnostic messages without reverse-engineering dashboard state.

Discuss API testing

Selected technical resources

Go deeper without leaving the product path.

Understand the model

What is SVI?

Understand the fit and its parameters.

Browse the complete knowledge library

Engineering and research

Built from live market messages to calibrated surface state.

The documented path covers exchange WebSocket ingestion, order-book normalisation, implied-volatility calculation, SVI fitting, fit diagnostics and compact snapshot-and-patch delivery. Kafka and Kubernetes material remains clearly identified as roadmap architecture.

  1. WebSocket ingestion
  2. Order-book normalisation
  3. IV calculation
  4. SVI fitting
  5. Fit diagnostics
  6. Snapshots + patches
ArchitectureFrom market messages to surface stateOperationsProduction monitoring and fit healthResearchQuantitative research and artifacts
Browse the complete engineering series

Evaluation access

Evaluate Derivasys with your own workflow.

Dashboard

Inspect the current seven-market surface set.

Review smiles, risk nodes and fit diagnostics in the public product.

Open seven live markets

The initial request asks only for your work email, organisation, and intended use. We collect any additional qualification details after first contact. Prefer email? info@derivasys.com

Live assets BTC + ETH + SOL + XRP + HYPE + AVAX + TRXQuote provenance Deribit + OKXCalibration SVIEvidence Public methodologyProduct history Changelog

FAQ

Common questions.

What is Derivasys?

Derivasys is a crypto options analytics product for seven live markets: BTC, ETH, SOL, XRP, HYPE, AVAX and TRX volatility surfaces, SVI smiles, risk reversals, butterflies, term structure, and calibration diagnostics.

Who is it for?

It is built for options traders, quants, risk teams and developers who need to inspect both crypto implied-volatility output and the state used to produce it.

What does SVI mean?

SVI stands for Stochastic Volatility Inspired. It is a compact parameterization used to fit implied total variance across option strikes and expiries.

Is there an API?

Beta WebSocket evaluation is available by request. REST behavior remains in testing and is supplied only under the applicable evaluation contract.