DeriveDeribit
Trade on DeriveBTC, SOL, XRP, ZEC and ADA options are priced for less movement than the market has actually delivered this month.
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Scheduled updates: quotes every minute; trade sync and alerts every 5 minutes; wallet statistics, cohorts and idea results every 15 minutes; wallet performance hourly.
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Calculations and trade ideas use fixed rules and templates, not AI.
KoolKrypto (@koolkrypto223) bought 23,500 ETH 26 Mar 5000/7000 call spreads for $898.2K and said so on X. 136 other wallets have since put on the same legs, 106 of them new to Derive.
Each idea is recorded the first time it fires and marked at the current mid every 15 minutes; expired legs settle at intrinsic. Return is per unit of the structure as a share of the entry cost, before fees. Ideas open for less than a day are not scored yet.
Buy the bull call spread BTC 82k/90k 9 Oct 26 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, paid $379k for 200 of them on Derive by RFQ (buy BTC 82k call, 9 Oct 26, sell BTC 90k call, 9 Oct 26) with BTC at $80,757. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.
Rule: Followed wallet traded $32.30M notional, 2026-09-18 16:11 UTC.
Buy the 2 Oct 1.6k straddle on Derive.
ZEC has moved at 163% annualised over the last month (161% over the last week), but options are only pricing 110%. When the market moves more than options price in, owning options pays.
Rule: Implied 110% vs realized 163%, ratio 0.68 (rule fires below 0.85).
Buy the 25 Sep 1.4/1.3 put spread on Derive.
Max pain is the expiry price at which option holders collectively lose the most. For 25 Sep it is $1.3, against spot at $1.42. Price often drifts toward it in the last days as hedges unwind; a tendency, not a rule.
Rule: Max pain $1.3 vs spot $1.42, gap -8.2% (rule fires beyond 1.5%).
Buy the bull call spread ETH 2.5k/2.6k 20 Sep 26 on Derive.
KoolKrypto (@koolkrypto223), a wallet we follow, paid $170k for 10,000 of them on Derive by RFQ (buy ETH 2.5k call, 20 Sep 26, sell ETH 2.6k call, 20 Sep 26) with ETH at $2,465. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.
Rule: Followed wallet traded $49.31M notional, 2026-09-17 15:37 UTC.
Buy the 2 Oct 1.4 straddle on Derive.
XRP has moved at 86% annualised over the last month (107% over the last week), but options are only pricing 59%. When the market moves more than options price in, owning options pays.
Rule: Implied 59% vs realized 86%, ratio 0.68 (rule fires below 0.85).
Buy on Derive at $1.02, sell on Deribit at $1.18.
The HYPE 100 call, 25 Sep 26 is offered at $1.02 on Derive and bid at $1.18 on Deribit. After both venues' fees that is $0.1 per contract of locked-in edge.
Rule: 11.2 bps of forward after fees (rule fires above 5 bps).
Derive · Last 24h · Ranked by unusual activity
hedger · 13% win rate · +$1.74M this month
hedger · 60% win rate · +$10k this month · on the smart money list
rfq block
hedger · 75% win rate · +$7k this month
wing buyer
Premium bought minus premium sold, measured from the side initiating each trade. These are option payments, not profit or loss. Last 24 hours; trades of at least $50k notional.
Market prices, open interest, volatility signals and flow on this page come from Derive. The biggest print is the largest contract execution or same-second sweep by underlying notional, before notable-trade ranking; a package leg is not the whole spread. Premium is the amount paid for the option. Deribit supplies comparison prices and the cross-venue scanner. Implied is the at-the-money vol interpolated to 30 days from the Derive chain; realized is the annualised standard deviation of daily index moves over the last 30 days. Below 0.85× we call options cheap, above 1.25× expensive. Smart money is the top quarter of wallets by risk-adjusted 90-day results, among those that made at least $5k and traded in the last two weeks, with market makers removed; "smart long" on an asset chip is their net delta. Ideas are generated by fixed rules from these numbers, not by a person or a model; payoff diagrams are per unit at expiry and ignore fees. Notable trades are ranked by size against the wallet's usual size, distance from spot, smart-money or followed status, price versus Deribit's mark, and package legs. Alerts are aggressor fills over $250k notional in options (with at least $2k premium) or $1M in perps, over $50k by a smart-money wallet, or over $10k by a wallet we follow by hand; market makers are left out of the whale rows. The same rules feed the Telegram alerts.