These notes explain the math behind the dashboard in plain language. Read them in order for the full flow, or jump to the topic behind a specific card.
| # | Topic | Covers |
|---|---|---|
| 1 | Options and forward pricing | Payoffs, Black-76, and Deribit's inverse premium convention. |
| 2 | Implied volatility | IV inversion, Brent's method, and Deribit validation. |
| 3 | Greeks | Delta, gamma, vega, theta, and units under inverse quoting. |
| 4 | Realized vs implied volatility | RV estimators and the IV-RV spread. |
| 5 | Carry, basis, and funding | Dated-futures carry and perpetual funding. |
| 6 | Skew, surface, and signals | Smile interpolation, term structure, and headline regime scores. |
| Symbol | Meaning |
|---|---|
| Spot price | |
| Forward or futures mark price | |
| Strike | |
| Time to expiry in years | |
| Annualized volatility | |
| Standard normal CDF and PDF |
Crypto trades continuously, so annualization uses 365 days unless noted.