01 · Market read
The day across the three live Derivasys markets.
Solana one-week ATM IV was 53.62% and Bitcoin one-week ATM IV was 34.63%, leaving a 18.99-point level spread at the cutoff.
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 widening, at +18.99 vol pts; daily one-week ATM IV changes span +0.61 vol pts across the complex.
BTC screens richest and ETH cheapest on one-week implied volatility versus seven-day realised volatility, with a 1.21-point cross-sectional range.
Aligned 24-hour spot correlations: BTC/ETH 0.88 (22 observations).
Historical cross-sectional readings: 1W ATM IV level dispersion 66.7 percentile; Daily 1W ATM IV-change dispersion 4.8 percentile; 1W RR25 dispersion 38.1 percentile; IV-minus-realised dispersion 42.9 percentile.
1W ATM IV change
-0.40 points from the group median
1W ATM IV level
-13.58 points from the group median
1W RR25 level
+0.89 points from the group median
Relative-value rankings
Leaders and laggards across the same cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | SOL · 53.62 | ETH · 48.21 | BTC · 34.63 |
| Daily 1W ATM IV change | SOL · 2.72 | BTC · 2.51 | ETH · 2.11 |
| 1W IV minus 7d realised | BTC · -1.68 | ETH · -2.89 | SOL · unavailable |
| Most call-rich 1W RR25 | SOL · 3.02 | ETH · 2.13 | BTC · 1.25 |
| Most put-rich 1W RR25 | BTC · 1.25 | ETH · 2.13 | SOL · 3.02 |
| 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 · 2.04 | BTC · 1.22 | 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 2.3–3.7 times VIX, while short-window equity correlations remained mixed.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 34.22% | +19.41 vol pts | 2.31× | 42.30% | 9.38% | 67.9 percentile | +0.265 |
| ETH | 48.50% | +33.69 vol pts | 3.27× | 50.63% | 9.38% | 37.2 percentile | +0.196 |
| SOL | 54.70% | +39.89 vol pts | 3.69× | 70.89% | 9.38% | 47.2 percentile | +0.391 |
As of 18 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 | 34.63% / +2.51 | 34.34% / +0.76 | 36.75% / -0.09 | 38.34% / +0.14 |
| ETH | 48.21% / +2.11 | 48.61% / -0.19 | 52.62% / -0.17 | 54.47% / 0.00 |
| SOL | 53.62% / +2.72 | 52.98% / +0.59 | 54.18% / +0.01 | Unavailable |
05 · Constituent evidence
Audit the independently published source artifacts.
19 Sept 2026, 16:59 UTC
Read the BTC report19 Sept 2026, 16:59 UTC
Read the ETH report19 Sept 2026, 16:59 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.