01 · Market read
The day across the three live Derivasys markets.
The one-week ATM IV gap between Solana and Bitcoin narrowed to 14.19 volatility points from 15.78 points. Ether nevertheless led daily repricing, with a 2.12-point increase versus a 0.69-point decline for Solana.
This is a comparison, not a pooled surface: each asset keeps its own forwards, expiries, SVI fit and realised-volatility history.
Cross-sectional thesis
Where the complex is diverging.
One-week ATM IV level dispersion is compressing, at +14.19 vol pts; daily one-week ATM IV changes span +2.81 vol pts across the complex.
ETH screens richest and BTC cheapest on one-week implied volatility versus seven-day realised volatility, with a 1.83-point cross-sectional range.
Aligned 24-hour spot correlations: BTC/ETH 0.90 (12 observations).
1W ATM IV change
-1.59 points from the group median
1W ATM IV level
-11.84 points from the group median
1W RR25 level
+1.76 points from the group median
Relative-value rankings
Leaders and laggards across the same cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | SOL · 54.66 | ETH · 52.31 | BTC · 40.47 |
| Daily 1W ATM IV change | ETH · 2.12 | BTC · 0.90 | SOL · -0.69 |
| 1W IV minus 7d realised | ETH · 9.23 | BTC · 7.40 | SOL · unavailable |
| Most call-rich 1W RR25 | ETH · 2.66 | SOL · 0.90 · up 1 | BTC · 0.78 · down 1 |
| Most put-rich 1W RR25 | BTC · 0.78 · up 1 | SOL · 0.90 · down 1 | ETH · 2.66 |
| 1Y minus 1W curve slope | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| Largest 1Y minus 1W curve change | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| 24h spot performance | ETH · 0.13 | BTC · 0.02 | SOL · unavailable |
Completed-session cross-asset context
Crypto volatility against VIX and SPX.
The benchmark comparison is separately timestamped to the latest completed US session; it does not replace the intraday crypto surface cutoffs above.
BTC and ETH and SOL 30-day implied volatility remained 2.4–3.3 times VIX, while short-window equity correlations remained low.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 38.47% | +22.75 vol pts | 2.45× | 47.17% | 8.54% | 81.2 percentile | +0.186 |
| ETH | 51.82% | +36.10 vol pts | 3.30× | 54.37% | 8.54% | 39.4 percentile | +0.033 |
| SOL | 52.36% | +36.64 vol pts | 3.33× | 74.10% | 8.54% | 52.9 percentile | +0.248 |
As of 08 Sept 2026, 20:00 UTC. Crypto RV uses calendar days and sqrt(365); SPX RV uses US sessions and sqrt(252).
03 · Cross-asset scorecard
Implied volatility, realised volatility and skew.
04 · Term structures
ATM implied volatility across common standard tenors.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ |
|---|---|---|---|---|
| BTC | 40.47% / +0.90 | 38.40% / +0.45 | 39.56% / +0.20 | 40.33% / +0.21 |
| ETH | 52.31% / +2.12 | 52.42% / +1.02 | 53.31% / +0.80 | 54.75% / +0.36 |
| SOL | 54.66% / -0.69 | 52.53% / -0.28 | 51.70% / -0.09 | Unavailable |
05 · Constituent evidence
Audit the independently published source artifacts.
09 Sept 2026, 16:30 UTC
Read the BTC report09 Sept 2026, 16:30 UTC
Read the ETH report09 Sept 2026, 16:30 UTC
Read the SOL report06 · Methodology and provenance
A derived publication with no duplicated market data.
The report is assembled at request time from the immutable BTC, ETH and SOL daily-report artifacts for the same UTC report date. It is omitted unless all three exist. Cross-asset averages are descriptive and equal-weighted; no attempt is made to combine distinct volatility surfaces into a single fit.