SOL and HYPE
Promises on SOL and HYPE, priced from listed crypto options, with daily and Friday 08:00 UTC deadlines.
Crypto: SOL and HYPE
SOL and HYPE promises expire daily at 08:00 UTC; offers stop at 07:30 UTC, then roll to the next expiry. The perpetual must be open for entries.
Pricing compares up to three references for the whole spread:
- A model using fresh market IV for each leg.
- A model using 1.6 times fresh realised volatility on both legs.
- Exact matching listed option bids and asks from Deribit.
No volatility model, no quote. Realised volatility needs twelve fresh samples five minutes apart (by the price feed's clock); a long gap restarts collection. Deribit USDC prices are per coin, multiplied by the promise quantity once. Deribit settles on an index TWAP, so it guides pricing but isn't a settlement match.
| Premium cap | Maximum notional | Collateral buffer | |
|---|---|---|---|
| SOL | $5,000 | $250,000 | 2.5× fair value |
| HYPE | $1,000 | $50,000 | 5× fair value |
On top of full margin and risk limits.