Binance details 8 common options structures for RFQ trading via new academy guide on derivatives strategies.

According to @glassnode, the Q1 expiry saw a significant gamma unwind, with short gamma at the 75K strike dropping from $3.9 billion to $2.4 billion in under two days. This $1.5 billion reduction indicates that positions were closed as the price moved away from the strike. The lower gamma has subsequently reduced dealer hedging flows, contributing to the observed market pullback.

According to @bubblemaps, the "10/10" whale closed $35M in ETH longs while still holding about $760M across BTC, ETH, and SOL. According to @bubblemaps, a later update says the trader is down roughly $100M for the week and is still holding approximately $800M in longs across BTC, ETH, and SOL. According to @bubblemaps, these disclosures highlight large directional exposure concentrated in major assets, so traders can monitor whale activity, funding rates, and open interest for potential liquidity shifts; no liquidation levels or detailed derivatives metrics were provided by @bubblemaps.

According to @GracyBitget citing TokenInsight's Crypto Exchange 2025 Annual Report, Bitget ranks in the top 4 global CEXs with a steady rise in market share over the year while several peers declined (source: TokenInsight report via @GracyBitget). According to TokenInsight as relayed by @GracyBitget, derivatives remain Bitget's core strength, with about 12 percent market share maintained through most of the year, underscoring consistent derivatives liquidity (source: TokenInsight report via @GracyBitget). According to TokenInsight's report referenced by @GracyBitget, Bitget's growth is driven by real trading demand rather than short term volume spikes, in a year when TokenInsight notes record Bitcoin prices and a broad surge in derivatives trading (source: TokenInsight report via @GracyBitget).

According to TRON DAO, citing Lookonchain on-chain data, Tron’s daily on-chain perpetual futures volume exceeded 1 billion dollars for two consecutive days, with seven-day perps volume reaching 5.77 billion dollars, up 176 percent week over week, while other chains saw perps activity cool during the market downturn (source: https://twitter.com/trondao/status/2004189336770842864; source: https://x.com/lookonchain/status/2004153471961075988). This relative surge implies stronger derivatives participation and deeper liquidity on TRX perps during the period, conditions that generally tighten spreads and reduce slippage for active traders (source: https://twitter.com/trondao/status/2004189336770842864; source: https://www.investopedia.com/terms/l/liquidity.asp). Traders tracking TRX may monitor open interest and funding rates on Tron-based perpetuals to gauge positioning and directional bias in derivatives markets (source: https://academy.binance.com/en/articles/funding-rate-explained).

According to Kashif Raza, 50.65 billion crypto perpetual trades were executed, a 33% increase versus last year and nearly 3x growth since 2022, underscoring his point that volume shows activity while trades show intent, source: Kashif Raza on X, Dec 23, 2025. The stated 33% year-over-year rise implies last year’s trade count was roughly 38.1 billion (50.65 ÷ 1.33), derived from the same source figures, source: Kashif Raza on X, Dec 23, 2025.

According to @binance, monitoring open interest helps traders see whether money is flowing in or out of crypto derivatives markets, guiding positioning and risk management, source: Binance X post (Dec 21, 2025). According to @binance, open interest is the total number of outstanding futures or options contracts that are not settled, and it rises when new positions are opened and falls when positions are closed, source: Binance Academy – What is Open Interest. According to @binance, rising open interest alongside rising price often signals fresh capital entering and trend continuation risk-on conditions, while rising price with falling open interest can indicate short covering or profit-taking rather than strong new buying, source: Binance Academy – What is Open Interest. According to @binance, falling price with rising open interest can reflect new short positions pressing the move lower, while falling price with falling open interest suggests position reduction and de-risking, source: Binance Academy – What is Open Interest. According to @binance, traders should pair open interest changes with price and volume to gauge liquidity and trend strength before entering or exiting BTC and ETH futures, source: Binance Academy – What is Open Interest.

According to @ai_9684xtpa, wallet pension-usdt.eth realized $24.04M profit on Hyperliquid over the past month, with 16 wins out of 17 trades since December for a 94.1% win rate — source: @ai_9684xtpa; hyperbot.network trader page. The address currently holds a 30,000 ETH long worth $89.72M, ranking among Hyperliquid’s top 3 ETH long positions with an average entry price of $2,969.6 — source: @ai_9684xtpa; hyperbot.network trader page. Nine hours prior, the trader closed a BTC long for a $1.258M profit, highlighting active directional positioning across ETH and BTC derivatives — source: @ai_9684xtpa; hyperbot.network trader page.

According to @PolynomialFi, stock perpetuals for NVDA, TSLA, HOOD, PLTR, GOOG, and COIN are now live with up to 100x leverage, optimizing access to high-beta equity exposure for derivatives traders; source: @PolynomialFi. Traders can cross-margin these contracts with crypto, indices, commodities, and forex to manage collateral across markets, aligning equity perps with crypto margin for multi-asset strategies; source: @PolynomialFi.

According to @ai_9684xtpa, a high-profile trader deposited approximately $1.2 million of fresh margin and opened 4,250 ETH of 25x long positions over the past 8 hours on Hyperliquid, totaling $12.57 million notional with an average entry of $2,941 and a liquidation price of $2,710.2, indicating elevated liquidation risk if ETH approaches the stated level; source: https://twitter.com/ai_9684xtpa/status/2001104276953948509 and https://hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872. One hour earlier, the same account fully closed a more-than-four-day ETH long with a realized loss of $1.872 million, leaving only $15,919.64 before the new deposit; source: https://twitter.com/ai_9684xtpa/status/2000820683409121644 and https://hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872. The trader has now recorded six consecutive losing long trades totaling $2.49 million, while cumulative losses on the Hyperliquid account have reached $21.25 million since May 2025; source: https://twitter.com/ai_9684xtpa/status/2000820683409121644 and https://hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872. Traders may monitor $2,710.2 as a key forced-liquidation level for the current $12.57 million 25x position on Hyperliquid given the stated parameters; source: https://twitter.com/ai_9684xtpa/status/2001104276953948509 and https://hyperbot.network/trader/0x020ca66c30bec2c4fe3861a94e4db4a498a35872.

According to @lookonchain, on-chain trader 0xfB66 closed a BTC long with $2.13M realized profit and then opened a 6x leveraged long on 11,590 ETH with $37.28M notional, already showing $1.11M in unrealized gains at the time of reporting, source: @lookonchain on X. The position details are also visible on the Hyperdash trader page referenced by @lookonchain, source: Hyperdash.

According to @ai_9684xtpa, Hyperliquid’s ETH long top-2 address 0xa43...57d28 opened a 7x ETH long three days ago, holding 19,860.72 ETH (about $60.58M) at an average entry of $2,884.03. Source: @ai_9684xtpa on X; Hyperbot Network trader dashboard. The position currently shows approximately $3.32M in unrealized profit, indicating a profitable turnaround for the high-frequency derivatives trader. Source: @ai_9684xtpa on X; Hyperbot Network trader dashboard. In the prior three days the address recorded 19 trades with only 2 small winners for a 10.5% win rate and actively flipped long and short across MON, ZEC, and ETH. Source: @ai_9684xtpa on X; Hyperbot Network trader dashboard.

According to @phantom, Phantom Perps rolled out three trading features in the past month: limit orders to enter at a target price, an Explore view to see what markets are trending on Phantom, and chart tools that let traders drag and drop to adjust stop-loss and take-profit levels (source: https://x.com/phantom/status/1985761943324672134, Nov 9, 2025). According to @phantom, the team also asked traders which features they want next, highlighting ongoing iteration relevant for perps users seeking tighter execution and risk management workflows (source: https://x.com/phantom/status/1985761943324672134, Nov 9, 2025).