{"uid":"cap_jJeaO1VqFWFebYKvaijAq","slug":"implied-volatility-max-pain-crypto-options-935805e9","name":"Implied Volatility & Max Pain (Crypto Options)","description":"Perp funding rates, open interest, futures basis, implied volatility, liquidations, order book depth and a perp screener for crypto perpetual futures across 8 exchanges (Bybit, Hyperliquid, dYdX, Gate, Kraken, Bitfinex, Deribit, OKX), paid per call over x402 with USDC on Base. No account, no API key.","url":"https://derivs.duoleads.com/v1/options?utm_source=zero.xyz","method":"GET","headers":{},"bodySchema":{"type":"object","$schema":"https://json-schema.org/draft/2020-12/schema","required":["input"],"properties":{"input":{"type":"object","required":["type","method"],"properties":{"type":{"type":"string","const":"http"},"method":{"enum":["GET"],"type":"string"},"queryParams":{"type":"object","required":["coin"],"properties":{"coin":{"type":"string","maxLength":32,"minLength":1,"description":"Underlying coin: BTC, ETH, SOL ... (options exist mainly for BTC and ETH)."},"expiry":{"type":"string","pattern":"^\\d{4}-\\d{2}-\\d{2}$","description":"Optional expiry date YYYY-MM-DD (UTC): only that expiry, plus its chain per strike with the venues' greeks. Default: the 6 nearest expiries, no chain."}}}},"additionalProperties":false},"output":{"type":"object","required":["type"],"properties":{"type":{"type":"string"},"example":{"type":"object"}}}}},"responseSchema":{"type":"json","example":{"coin":"BTC","colo":null,"dvol":{"time":"2026-10-14T22:00:00Z","as_of":"2026-10-14T23:00:00Z","value":39.13,"venue":"deribit","low_24h":37.75,"high_24h":39.3,"change_24h":0.96},"as_of":"2026-10-14T23:00:00Z","units":{"iv":"implied volatility as a fraction (0.45 = 45 %), annualised","dvol":"Deribit volatility index, annualised percent","skew":"put IV - call IV at 25 delta (fraction)","greeks":"as published by the venue (Bybit, OKX); Deribit publishes none in bulk","max_pain":"strike (USD) where option holders' intrinsic value at expiry is smallest","oi_coins":"coins","underlying":"USD per coin (the venue's underlying / forward price)","put_call_oi_ratio":"put open interest / call open interest"},"expiries":[{"expiry":"2026-10-15T08:00:00Z","venues":[{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"deribit","atm_iv":0.390797,"strikes":28,"max_pain":83500,"oi_coins":3102.7,"skew_25d":null,"underlying":81562.84,"put_call_oi_ratio":1.42436},{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"bybit","atm_iv":0.390494,"strikes":28,"max_pain":82500,"oi_coins":2832.08,"skew_25d":{"skew":0.0289,"put_iv":0.4155,"call_iv":0.3866,"put_delta":-0.274783,"call_delta":0.27996,"risk_reversal":-0.0289},"underlying":81646.3838,"put_call_oi_ratio":0.765449},{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"okx","atm_iv":0.386518,"strikes":27,"max_pain":null,"oi_coins":null,"skew_25d":{"skew":0.00777776,"put_iv":0.40066,"call_iv":0.392882,"put_delta":-0.27447,"call_delta":0.201432,"risk_reversal":-0.00777776},"underlying":81622.81366,"put_call_oi_ratio":null}],"days_to_expiry":0.375},{"expiry":"2026-10-16T08:00:00Z","venues":[{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"deribit","atm_iv":0.387452,"strikes":26,"max_pain":83000,"oi_coins":17322.2,"skew_25d":null,"underlying":81582.3,"put_call_oi_ratio":1.42795},{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"bybit","atm_iv":0.373493,"strikes":35,"max_pain":83000,"oi_coins":3288.83,"skew_25d":{"skew":0.023,"put_iv":0.4091,"call_iv":0.3861,"put_delta":-0.216943,"call_delta":0.235112,"risk_reversal":-0.023},"underlying":81565.5,"put_call_oi_ratio":1.08242},{"as_of":"2026-10-14T23:00:00Z","stale":false,"venue":"okx","atm_iv":0.379213,"strikes":33,"max_pain":null,"oi_coins":null,"skew_25d":{"skew":0.0710269,"put_iv":0.435268,"call_iv":0.364241,"put_delta":-0.222136,"call_delta":0.231349,"risk_reversal":-0.0710269},"underlying":81625.13401,"put_call_oi_ratio":null}],"days_to_expiry":1.375}],"see_also":{"params":["coin"],"reason":"The futures term structure (annualised basis per expiry) next to the options' implied volatility.","endpoint":"https://derivs.duoleads.com/v1/basis"},"disclaimer":"Data only, not investment advice, not a benchmark; not affiliated with any exchange","request_id":"01KEXAMPLE0000000000000000","venues_missing":[],"available_expiries":["2026-10-15","2026-10-16"]}},"example":null,"exampleRequest":null,"tags":["x402"],"displayCostAmount":"0.003","displayCostAsset":"USDC","priceDynamic":false,"priceHint":null,"priceStatus":"priced","priceSource":"probe","requiresHandshake":false,"reviewCount":0,"rating":{"score":"0.00","successRate":"0.00","reviews":0,"stars":null,"state":"unrated"},"availabilityStatus":"unknown","priceObserved":null,"sessionDeposit":null,"pricing":{"kind":"static","summary":"$0.003/call","primary":{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.003","per":"call","confidence":"exact"},"accepted":[{"kind":"static","protocol":"x402","network":"base","amountUsd":"0.003","per":"call","confidence":"exact"}]},"paymentMethods":[{"uid":"pm_OIdXKsdpY2HOeGGq4z98a","protocol":"x402","methodType":"crypto","chain":"base","mode":"charge","costAmount":"0.003","costPer":"request","priority":0,"asset":"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913","unit":"request","depositMicros":null,"planRef":null}],"brandName":null,"brandSlug":null,"brandBaseUrl":null,"brandDocsUrl":null,"whatItDoes":"Returns implied volatility, max pain, put/call OI ratios, skew, and per-strike greeks for BTC/ETH/SOL options across Deribit, Bybit, and OKX, by expiry date.","exampleAgentPrompt":"What's the current implied volatility and max pain strike for BTC options expiring on 2025-01-31, across Deribit, Bybit, and OKX?","exampleUseCases":[{"title":"Pre-expiry options risk check","prompt":"It's options expiry Friday — can you pull the max pain strike and put/call OI ratio for BTC across all venues so I know where price might be pinned?"},{"title":"IV skew monitoring for ETH","prompt":"What's the current 25-delta skew and ATM implied volatility for ETH options on Deribit and Bybit? I want to know if puts are priced more expensively than calls right now."},{"title":"DVOL and term structure snapshot","prompt":"Give me the Deribit DVOL index for BTC and the ATM IV across the next 6 expiries so I can see the volatility term structure."}],"resultDescription":"A JSON object containing: the coin, the DVOL index value with 24h range and change, and an array of expiries each with per-venue data including ATM IV (as a fraction), max pain strike in USD, open interest in coins, put/call OI ratio, 25-delta skew details (put IV, call IV, risk reversal), the venue's forward/underlying price, and optionally a per-strike options chain with greeks when a specific expiry date is requested.","failureModes":["Missing required 'coin' query parameter returns a validation error","Options data only reliably available for BTC and ETH; other coins may return empty expiries","Expiry date not matching any listed contract returns empty results","Stale flag may be true if venue data is delayed","Payment failure (x402) if USDC balance on Base is insufficient"],"whenToPreferThis":"Use this endpoint when you need crypto options-specific analytics: implied volatility levels, max pain, put/call ratios, or 25-delta skew across multiple centralized venues simultaneously. Prefer this over generic market data APIs when you need cross-venue options comparison (Deribit, Bybit, OKX) or want a full expiry term structure in one call. Not suitable for spot prices, perp funding rates, or equity/FX options.","instructions":null,"reviewSummary":null,"reviewSummaryHighlights":null,"reviewSummaryConcerns":null,"reviewSummaryGeneratedAt":null,"activationCount":0,"lastUsedAt":null,"lastSuccessfullyRanAt":null,"lastHealthCheckAt":"2026-10-15T12:33:23.736Z","isFirstParty":false,"canonicalSlug":"implied-volatility-max-pain-crypto-options-935805e9"}