Institutional-grade tools for crypto-asset derivatives

Block Scholes is an institutional-grade analytics, data, and research platform that provides interactive analytical tools and advanced quantitative models

Block Scholes offers interactive analytics, analysis of spot, futures, and options markets, historical data visualization, and custom charting in a cloud-native desktop environment.

The team at Block Scholes consists of professionals with extensive experience in derivatives structuring and trading, portfolio management, and senior roles at investment banks.

Block Scholes conducts original research, analysis, and market strategy covering digital assets, decentralised finance, derivatives, and macro.

Block Scholes provides institutional-grade analytics and advanced quantitative models, making it a valuable platform for institutional users seeking in-depth market insights and research tools.

Crypto derivatives data encompasses real-time and historical market information on options, futures, perpetual swaps, and other derivative instruments across digital asset exchanges like Deribit, Bybit, and OKX. Institutions need this data for pricing, risk management, portfolio hedging, and strategy development. Key data points include implied volatility surfaces, options Greeks (delta, gamma, vega, theta), funding rates, open interest, term structures, and volatility skew. Block Scholes provides institutional-grade derivatives analytics with SVI-calibrated volatility surfaces, exchange-weighted data quality, and EIP712-signed data points for verifiable authenticity.

Block Scholes uses the Stochastic Volatility Inspired (SVI) model to calibrate volatility surfaces across BTC, ETH, and altcoin options markets. Our proprietary calibration methodology addresses the unique challenges of crypto markets — high volatility, distinctive trading behaviours, and varying liquidity conditions. Exchange weights dynamically shift with market conditions to maintain data quality, and on-demand volatility surface points can be generated for any strike and expiry combination. This reduces development time and complexity for institutional trading desks, structured products teams, and risk management systems.

Implied volatility (IV) reflects the market's forward-looking expectation of price movement, derived from the prices of listed options contracts. Realised volatility (RV) measures the actual historical price fluctuations over a given period. In crypto markets, the spread between IV and RV is a key trading signal. When IV significantly exceeds RV, options may be overpriced, creating opportunities for volatility sellers. When RV exceeds IV, options may be underpriced. Block Scholes tracks both metrics across multiple tenors (7-day, 30-day, 90-day) and provides term structure analytics that highlight inversions and regime shifts.

Perpetual funding rates are periodic payments exchanged between long and short position holders on perpetual futures contracts. When funding is positive, longs pay shorts, indicating bullish sentiment. When negative, shorts pay longs, signalling bearish positioning. Funding rates serve as a real-time gauge of market sentiment and leverage. Institutional traders use funding rate data for carry trades, basis arbitrage, and sentiment analysis. Block Scholes provides funding rate data across major exchanges with historical depth, enabling backtesting of funding-based strategies and cross-exchange comparison.

Block Scholes is a specialist crypto derivatives analytics platform with deep expertise in volatility surface modelling, quantitative research, and options strategy analysis. While Amberdata offers broad coverage across market data, DeFi, and on-chain analytics, and Kaiko focuses on reference rates, indices, and compliance-oriented data, Block Scholes differentiates through its award-winning derivatives research (published in partnership with Bybit), proprietary SVI-calibrated volatility surfaces, UK regulatory permissions, and interactive analytics tools including the BotScholes Telegram bot for real-time options pricing.

Options skew refers to the difference in implied volatility between out-of-the-money puts and calls at the same delta level. A negative skew (put skew) means puts are more expensive than equivalent calls, indicating demand for downside protection and bearish sentiment. A positive skew (call skew) means calls are more expensive, reflecting bullish demand. In crypto markets, skew dynamics shift rapidly around events like FOMC meetings, regulatory announcements, and exchange incidents. Block Scholes tracks skew across delta levels and tenors, providing institutional traders with real-time sentiment indicators.

A volatility term structure inversion occurs when short-dated implied volatility exceeds long-dated implied volatility. Normally, longer-dated options have higher IV due to greater uncertainty. An inversion signals that the market is pricing heightened near-term risk — often around known events like options expiries, regulatory deadlines, or macroeconomic releases. Term structure inversions can present trading opportunities in calendar spreads and are tracked closely by volatility traders. Block Scholes provides term structure analytics across BTC, ETH, and altcoin options with historical data back to 2020.

Yes. Block Scholes provides comprehensive API access to its crypto derivatives data and analytics. The API delivers live and historical data across all covered derivative instruments and markets, including on-demand volatility surface points for any strike and expiry, options Greeks, funding rates, open interest, and more. Exchange weights shift dynamically with market conditions, and every data point includes EIP712 signatures for verifiable quality and authenticity. Block Scholes also offers an MCP (Model Context Protocol) integration for AI-powered analytics workflows.

BotScholes is Block Scholes' Telegram bot that provides real-time crypto options pricing, volatility surface visualisation, and perpetuals market analytics directly within Telegram. Users can price option strategies, explore volatility smiles and skews across listed expiries, and track perpetual markets across multiple exchanges. The bot is free for all users — free tier users receive data on a 24-hour delay, while premium subscribers get real-time access. Join the Block Scholes Telegram community to get started.

Block Scholes provides connectivity to all major crypto derivatives exchanges, with primary coverage including Deribit (the leading crypto options exchange, now a Coinbase subsidiary), Bybit (the world's second-largest exchange by trading volume and Block Scholes' research partner), OKX, Binance, and other major venues. Data coverage includes options (calls and puts across all listed strikes and expiries), perpetual futures (including funding rates and open interest), and dated futures (including term structure and basis analytics). Exchange weights are dynamically adjusted based on market conditions to maintain data quality.