Tracking Crypto Derivatives

Overview

Aggregate funding rates, open interest, liquidations, and options data across CEX and DEX derivatives exchanges to produce actionable trading insights.

Supported Markets: Perpetual Swaps (Binance, Bybit, OKX, Deribit, BitMEX), Quarterly Futures, Options (Deribit, OKX, Bybit), DEX Perpetuals (dYdX, GMX, Drift Protocol).

Prerequisites

Python 3.8+ installed
Network access to exchange APIs
Optional: API keys for higher rate limits
Understanding of derivatives concepts (funding, OI, basis)

Instructions

Check funding rates across exchanges to identify sentiment and arbitrage opportunities:
```
python derivatives_tracker.py funding BTC
python derivatives_tracker.py funding BTC ETH SOL
python derivatives_tracker.py funding BTC --history 7d
```
- Positive funding (>0.01%): Longs pay shorts, bullish sentiment
- Negative funding (<-0.01%): Shorts pay longs, bearish sentiment
- Extreme funding (>0.1%): Potential contrarian opportunity
Analyze open interest to gauge market positioning and trend strength:
```
python derivatives_tracker.py oi BTC
python derivatives_tracker.py oi BTC --changes
python derivatives_tracker.py oi BTC --divergence
```
- Rising OI + Rising Price = strong bullish trend
- Rising OI + Falling Price = strong bearish trend
- Falling OI + Rising Price = short covering rally
- Falling OI + Falling Price = long liquidations

Monitor liquidations to find support/resistance clusters:

python derivatives_tracker.py liquidations BTC
python derivatives_tracker.py liquidations BTC --recent
python derivatives_tracker.py liquidations BTC --min-size 100000  # 100000 = minimum USD liquidation size filter

Analyze options market for IV, put/call ratio, and max pain:

python derivatives_tracker.py options BTC
python derivatives_tracker.py options BTC --pcr
python derivatives_tracker.py options BTC --expiry 2025-01-31  # 2025 = target expiry year

Calculate basis for spot-futures arbitrage opportunities:

python derivatives_tracker.py basis BTC
python derivatives_tracker.py basis BTC --quarterly
python derivatives_tracker.py basis --all

Run full dashboard for comprehensive derivatives overview:

python derivatives_tracker.py dashboard BTC
python derivatives_tracker.py dashboard BTC ETH SOL
python derivatives_tracker.py dashboard BTC --output json

Output

The skill produces structured reports per market type:

Funding Rate Report: Current, 24h avg, 7d avg rates per exchange with annualized yield and sentiment
Open Interest Report: OI per exchange with 24h/7d changes, share %, and long/short ratio
Liquidation Heatmap: Long/short liquidation clusters by price level with USD density
Options Overview: Put/call ratio, IV rank, max pain, and large flow alerts
Basis Report: Spot-perp and quarterly basis with annualized carry rates

See ${CLAUDE_SKILL_DIR}/references/implementation.md for detailed output format examples.

Error Handling

Error	Cause	Fix
`ERR_RATE_LIMIT`	Too many API requests	Reduce frequency or add API key
`ERR_EXCHANGE_DOWN`	Exchange API unavailable	Try alternative exchange
`ERR_SYMBOL_INVALID`	Wrong symbol format	Use BTC, ETH (not BTCUSDT)

Examples

Morning derivatives check - Scan funding, OI, and liquidations for top assets:

python derivatives_tracker.py dashboard BTC ETH SOL

Funding rate arbitrage - Alert when funding exceeds threshold for cash-and-carry:

python derivatives_tracker.py funding BTC --alert-threshold 0.08

Pre-expiry options analysis - Check max pain and IV before Friday expiry:

python derivatives_tracker.py options BTC --expiry friday

Basis trading scan - Find all pairs with annualized yield above 5%:

python derivatives_tracker.py basis --all --min-yield 5  # 5 = minimum annualized yield %

Resources

Coinglass: Aggregated derivatives data
Exchange APIs: Binance, Bybit, OKX, Deribit
The Graph: DEX perpetuals data
${CLAUDE_SKILL_DIR}/references/implementation.md - Detailed output formats, options/basis guides, key concepts

tracking-crypto-derivatives