JUST IN: CME
plans Oct 19 launches for BCH, UNI and XLM futures, pending regulatory review, with standard and micro contracts. This adds three altcoin risk-transfer instruments to regulated 24/7 crypto derivatives.
#CryptoTrading#Derivatives
TRADING INTELLIGENCE:
A Sep 26 BTC perp sweep found Lighter at 0.31 bps for $10K and 1.43 bps for $1M, highlighting sharply higher execution cost as order size scales.
#CryptoTrading#Microstructure
TRADING INTELLIGENCE:
Coinbase derivatives OI is $42.16B vs $37.38B on Sep 25, a ~$4.8B increase. 24h derivatives volume is $14.69B, indicating materially higher open exposure across venues.
#CryptoTrading#Derivatives
JUST IN:
MEXC delisted seven USDC-margined perpetuals at 07:00 UTC, closing positions at fair value and canceling open orders. The event materially changes venue-specific liquidity for POPCAT, RESOLV, BIO, NEO, MNT, EIGEN and MOODENG.
#CryptoTrading#Perpetuals
TRADING INTELLIGENCE:
A Sep 26 order-book sweep measured BTC perp execution cost at 0.31 bps on Lighter for $10K and 1.43 bps for $1M, showing size-dependent liquidity impact.
#CryptoTrading#Microstructure
JUST IN:
Deribit updated its fee schedule, with institutional clients routed via Coinbase Bermuda now aligned to Deribit rates. Futures/perps: 1.5 bps maker, 3.5 bps taker at standard tier.
#CryptoTrading#Derivatives
JUST IN:
OG.com filed with the CFTC for cash-settled single-stock perpetual futures, proposing 24/5 trading with no expiry. Another step toward bringing crypto-native perp mechanics into US equity derivatives.
#Perpetuals#Derivatives
TRADING INTELLIGENCE:
Gate accounted for 45.6% of observed 24h crypto liquidations, with $135.6M longs vs $7.6M shorts, per live exchange-websocket data at 10:14 UTC.
#CryptoTrading#Derivatives
TRADING INTELLIGENCE:
At 09:00 UTC, Deribit and Coinbase International each showed ~$9B in 24h derivatives volume, highlighting unusually tight venue concentration in today's crypto derivatives flow.
#CryptoTrading#Derivatives
TRADING INTELLIGENCE:
Eurex published Sep 25 risk parameters covering its Crypto Derivatives liquidation group under Prisma portfolio margining. The update is relevant for capital and liquidation-risk monitoring across Eurex-cleared crypto positions.
#Crypto#Margin#Risk
TRADING INTELLIGENCE:
Binance's quarterly futures roll completed today, with 0925 contracts settling at 08:00 UTC and 0326 contracts scheduled to follow. The new suite spans BTC/ETH USDT-margined and BTC/ETH/BNB/XRP/SOL coin-margined futures.
#Crypto#Derivatives#Futures
JUST IN:
Coincheck has re-entered leveraged crypto trading in Japan with cash-settled BTC/JPY, ETH/JPY and XRP/JPY CFDs. The new venue supports 2x leverage, long/short and 24/7 trading, adding regulated derivatives capacity to Japan's market.
#Crypto#Derivatives#Japan
JUST IN:
CoinMarketCap acquired CoinGlass, bringing derivatives open interest, funding, liquidations and exchange-level data deeper into CMC's data stack. For trading desks, this could tighten cross-venue derivatives analytics and monitoring.
#Crypto#Derivatives#MarketData
TRADING INTELLIGENCE:
A Sep 25 cross-venue sweep found Lighter at 0.48 bps all-in cost for a $100K BTC perp order vs 1.16 bps on Paradex. At $1M, 8 venues could not fill the order. Execution quality is highly fragmented.
#Crypto#Execution#Liquidity
JUST IN:
Coinbase confirms its Deribit integration will consolidate INTX derivatives onto one order book, with Deribit's new matching engine now in production and sub-ms roundtrip execution targeted. Institutional migration is scheduled for Oct. 1.
#Crypto#Execution#Microstructure
JUST IN:
CFTC updated crypto FAQs, clarifying FCMs/DCOs can use tokenized versions of permitted customer investments and blockchain records under existing rules. The move could reduce friction in collateral and clearing workflows.
#Crypto#Derivatives#Collateral
JUST IN:
Aave V4 Base is moving tokenized equities into a dedicated risk-isolated lending venue. Seven Coinbase-linked equities can serve as collateral for USDC, with asset-specific haircuts and isolated liquidity.
#Crypto#Collateral#Risk
JUST IN:
KuCoin Futures is adding 4 stock-index perpetuals with 1-20x leverage, including Axe Compute and Samsung/SK Hynix-linked contracts. The expansion broadens 24/7 synthetic equity exposure beyond crypto-native underlyings.
#Crypto#Derivatives#Perps
TRADING INTELLIGENCE:
Injective's Meridian upgrade is live with alpha testing for private RFQ flows, designed to hide institutional order details while accessing on-chain liquidity. This could reshape execution privacy for large on-chain trades.
#Crypto#RFQ#Execution
TRADING INTELLIGENCE:
A Sep 25 KuCoin sample found 6/60 books where displayed depth was dominated by one clip-size ladder. Advertised vs executed depth reached 4,228x-11,917x on the widest gaps - a liquidity-quality warning.
#Crypto#Microstructure#Liquidity