Methodology & Transparency
We show transparent computations from verifiable formulas, not "signals out of thin air". Below is how each metric is computed, where the data comes from, which timezone, how gaps are handled, and what has changed in the methodology.
Data sources
Options (GEX, Gamma Flip, Max Pain, walls, IV, risk reversal) — Deribit: open interest, Greeks and implied volatility for BTC and ETH.
Order book and imbalance — Binance Spot, Binance Futures and Coinbase (aggregated depth).
Margin loans — Binance cross-margin pool (borrow interest rate).
GEX (Gamma Exposure)
GEX per strike ≈ option gamma × open interest × contract multiplier × spot², signed by the market-maker side (typically + for calls, − for puts in the dealer convention). Net GEX is the sum across strikes.
Absolute GEX = |Call GEX| + |Put GEX| (not the absolute of net GEX) — total gamma activity regardless of sign.
Gamma Flip
The Gamma Flip is the price where per-strike net GEX crosses from negative to positive (the red→green boundary), nearest spot. It is NOT the cumulative zero-crossing: large near-money puts drag that far above the visual boundary.
Max Pain and Call/Put walls
Max Pain is the strike where the total intrinsic value of all outstanding options is minimized at expiry (from open interest, no Greeks). In the TOTAL view Max Pain is hidden: far-dated contracts with big OI but near-zero gamma distort the aggregate — use the gamma-weighted Flip Point instead.
The Call Wall / Put Wall are the strikes with the largest positive / negative net GEX (the P1 / N1 markers).
Order-book imbalance
Cross-exchange imbalance = weighted mean of each venue's normalized imbalance (Binance Futures ×1, Binance Spot ×1, Coinbase ×0.5). A multi-exchange consensus filters local spoofing.
An RSI is computed on the imbalance series — overbought/oversold marks likely reversal zones.
Borrow rate (z-score)
The raw Binance margin borrow rate is noisy, so we compute its 24-hour z-score: the deviation from normal in standard deviations. Above p80 borrowing is expensive (downside-reversal risk); below p20 it is cheap (bounce risk).
Timezone
All internal computation and the API are in UTC. The UI shows time in MSK (UTC+3) in a few places, always labelled (e.g. history snapshots and the hour selector).
Gaps and thin data
If a venue/expiration has wings too thin to bracket the needed delta (e.g. 25Δ for risk reversal), that combination is shown as a gap — we do not fabricate a value.
If a snapshot is empty (no data for a date/hour), we show "no data" rather than the last known value.
Update cadence and delays
Live options data refreshes every 60 seconds; the Limits/Margin charts are built from aggregated 5m/1h bars.
The free tier sees delayed data: options — history (no live), AI Forecast — 7 days, Limits and Margin — 1 day. The live edge is subscription-based.
Methodology changelog
Information is for analytical and educational purposes only and does not constitute investment advice.