What is a crypto options volatility surface?
Crypto option markets quote many strikes and expiries, but those quotes are discrete, noisy, and venue-specific. A volatility surface converts those market points into a continuous structure: implied volatility by strike, moneyness, and maturity.
In DerivaSys, the fitted surface is built around SVI, a compact parameterisation commonly used to model the shape of an implied volatility smile. The dashboard then compares that model surface against live bid, ask, and last-trade implied volatility.
Why crypto options need real-time surface monitoring
Crypto options trade across fast-moving venues and can reprice quickly around spot moves, liquidity shifts, and calendar events. A static end-of-day surface is not enough for monitoring a live pricing process. Traders and PMs need to see surface level, skew, convexity, venue disagreement, stale quotes, and fit health together.
What the DerivaSys dashboard shows
- BTC crypto options SVI variance and volatility curves
- Per-expiry smile charts with fitted curves and quote clouds
- Deribit and OKX bid/ask/last-trade implied volatility overlays
- Risk reversal and fly grids in expiry and tenor modes
- Quote-through-fit matrix for bid and ask levels through SVI mid
- Fit objective, elapsed calibration time, feed state, and update timestamps
How to read the live surface
Start with the header metrics to confirm the feed and calibration are live. Then use the risk reversal and fly grids to understand skew and curvature. The smile matrix shows the raw market points around each fitted curve, while the quote-through-fit matrix highlights where bid or ask levels sit through the fitted mid.
FAQ
Is this a crypto options pricing engine?
This site is the dashboard layer for a broader pricing and calibration workflow. It visualises live market data, fitted SVI surfaces, risk nodes, and operational diagnostics streamed from a backend API.
Does it use SVI?
Yes. The dashboard monitors SVI-style fitted variance and volatility curves, then derives risk reversal, fly, and tenor analytics from the fitted surface.
Which venues are shown?
The UI supports venue-specific quote overlays such as Deribit and OKX, allowing bid, ask, and last-trade implied volatility to be compared against the fitted surface.