crypto-derivatives
Crypto-Derivatives covers three core strategies for digital asset derivatives: perpetual funding-rate arbitrage to capture recurring settlement payments, futures term-structure trading across contango and backwardation environments, and options strategies including volatility trading and Greeks analysis. Learn risk management, market signals, and tactical decision frameworks for OKX and Deribit.
Crypto-Derivatives teaches perpetual funding-rate arbitrage, futures term-structure trading, and options strategies for crypto markets.
AI-generated summary based on this skill's SKILL.md
Decision gist · record as of 2026-07-27
Crypto-Derivatives teaches perpetual funding-rate arbitrage, futures term-structure trading, and options strategies for crypto markets. Crypto-Derivatives covers three core strategies for digital asset derivatives: perpetual funding-rate arbitrage to capture recurring settlement payments, futures term-structure trading across contango and backwardation environments, and options strategies including volatility trading and Greeks analysis. Learn risk management, market signals, and tactical decision frameworks for OKX and Deribit.
Use it when
- Perpetual arbitrage exploits funding-rate payments—recurring settlements between long and short positions.
- Crypto-Derivatives explains how futures prices relate to spot across different expiry months.
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HKUDS/Vibe-Trading/crypto-derivatives · repository language: Python
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Frequently asked questions
AI-generated answers based on this skill's SKILL.md and metadata
What crypto derivatives strategies does this skill teach?
Crypto-Derivatives covers three core strategies: perpetual funding-rate arbitrage to capture recurring settlement payments, futures term-structure trading across contango and backwardation environments, and options strategies including volatility trading and Greeks analysis. You'll learn tactical decision frameworks for selecting appropriate strategies based on market conditions, plus risk management and position sizing for OKX and Deribit.
How does perpetual arbitrage and funding rate trading work?
Perpetual arbitrage exploits funding-rate payments—recurring settlements between long and short positions. Crypto-Derivatives teaches you to identify when funding rates are extreme (signals of greed or panic), then structure trades to capture those payments while managing basis risk. You'll learn reverse carry arbitrage (short spot, long perpetual) and how to monitor funding-rate signals for entry and exit timing.
What are bitcoin futures term structure and contango/backwardation?
Crypto-Derivatives explains how futures prices relate to spot across different expiry months. In contango, near-term futures trade below far-term (normal market), enabling calendar spreads and cash-and-carry arbitrage. In backwardation, near-term trades above far-term, favoring reverse carry. You'll learn to calculate term-structure spreads, identify convergence opportunities, and trade quarterly futures premiums in bull and bear markets.
What options Greeks, volatility smile, and strategies are covered?
Crypto-Derivatives teaches option Greeks (delta, gamma, vega, theta), volatility smile analysis, and how implied volatility skew drives risk reversals. Strategies include protective puts for portfolio hedging, short straddles, iron butterflies, and volatility arbitrage (long short IV versus realized). You'll understand theta decay in 24/7 crypto markets and how to analyze volatility conditions on Deribit and OKX.
How does Crypto-Derivatives help manage risk in derivatives trading?
Crypto-Derivatives covers margin management, position sizing, and liquidation-risk monitoring for perpetuals and futures. You'll learn to set appropriate leverage, monitor basis and funding-rate drift, and size positions to survive adverse market moves. The skill emphasizes tactical decision frameworks to match strategy selection to current market conditions and your risk tolerance.
Can I backtest and research strategies on OKX and Deribit?
Crypto-Derivatives includes a backtest and research framework for testing perpetual funding-rate arbitrage, term-structure spreads, and options strategies on OKX and Deribit. You'll learn how to validate your strategies against historical data, refine entry and exit signals, and measure performance before deploying real capital.
SKILL.md
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Crypto-Derivatives Strategies
Overview
Covers three major crypto-derivatives strategy directions: perpetual funding-rate arbitrage, futures term-structure trading, and options strategies (volatility trading). The main exchanges are OKX and Deribit.
Perpetual Funding-Rate Arbitrage
Funding-Rate Mechanism
Perpetual contracts have no expiry and rely on the funding rate to anchor prices to spot:
Funding rate > 0: longs pay shorts (strong bullish sentiment)
Funding rate < 0: shorts pay longs (strong bearish sentiment)
Settlement frequency: OKX settles every 8 hours (00:00 / 08:00 / 16:00 UTC)
Annualized return = funding rate × 3 × 365
Arbitrage Strategies
``` Positive carry arbitrage (funding rate > 0): Long spot + short perpetual = net delta close to zero Return source: collect funding every 8 hours
Reverse carry arbitrage (funding rate < 0, less common): Short spot (borrow coin and sell) + long perpetual Return
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