On-chain options trading, radically simplified.
Joined August 2024
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Tunder ⚡ has fully migrated to @DeriveXYZ V3.
New in v3: one-click trade execution, in-app deposits and withdrawals, and faster execution across the platform.
Options made simple.
$HYPE jumped 11% in two hours on this news.
$85 calls bought yesterday for $77K are now worth $170K. Mid-rally, a new $60K bet went on $95 calls.
Biggest trades every day on t.me/tundertrade
Hours before the Fed sets US interest rates, $9.4M in $ETH options bet on a 50%+ rally by March.
Meanwhile, $2M in $HYPE calls is betting on $85 by Nov 13.
Biggest trades every day on t.me/tundertrade
The 10 most profitable option traders this week made $409K.
All of it came from selling options. Most are selling again for Friday, two days after the Fed sets US rates.
⚡ tunder.trade/trending
$10.9B of $BTC options expire Friday, two days after the Fed sets US rates.
$4.7B of that is calls at $90K and up. BTC needs a 12% rally by Friday for them to pay out.
⚡ tunder.trade
The Fed sets US rates Wednesday and US midterms are happening on Nov 3.
$BTC options are pricing a bigger move around the midterms.
⚡ tunder.trade
$7.8M in $BTC options is betting BTC stays under $85K by Oct 30 and under $90K by Nov 6.
Meanwhile, $54K went into $HYPE puts at $70 and $72.5.
Biggest trades in the last 24h live on t.me/tundertrade
ALT Tunder Trade bot, Derive traders Oct 24. Biggest positions (24h): BTC Nov 6 90K/95K call spread sold 30x for $4.05K; BTC Oct 30 85K call sold 36.18x for $13.3K; HYPE Nov 6 72.5 put bought 20,000x for $26K; HYPE Nov 13 90 call bought 20,000x for $16K; HYPE Nov 13 70 put bought 20,000x for $28K. Flow (24h): $68M notional, 880 executions, 214 takers.
The top 10 option traders on @DeriveXYZ are up 80% this week.
Some of their positions are still open, and new users can copy them in just 3-steps on tunder.trade/trending ⚡
ETH $2,200 calls, bought 76 days ago, before the breakout. Worth 2x today.
It's easy to copy-trade on tunder.trade ⚡️
$1.29B of $BTC options expire Friday 08:00 UTC on Deribit and @DeriveXYZ. They price a ±2.7% move: about $80.5K to $85K.
$100 buys about 0.3 BTC of Friday $85K calls on Derive, fees included. Breakeven about $85,340. At $87K it pays about $590. Below $85K it's $0, and the market puts that at about 4 in 5.
Tunder ⚡ turns "BTC up, $100, this week" into a trade like this: tunder.trade
ALT Chart of BTC options open interest by strike for Friday 23 Oct expiry on Deribit and Derive, $1.29B total. Puts on the left, largest at $78K ($167M). Calls on the right, largest at $90K ($69M). BTC at $82.7K; options price a ±2.7% move, about $80.5K to $85K. Puts to calls 1.3 to 1.
$40.5M bitcoin:native notional is betting on bitcoin:native below $80K by Oct 19.
Meanwhile, $16.5M in a Nov 27 call spread is targeting $86K to $94K.
Biggest trades in the last 24h live on t.me/tundertrade
ALT Tunder Telegram bot card: biggest Derive positions and 24h flow, Oct 17
Someone bought a $197K ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 call spread on @DeriveXYZ.
Our platform puts the trade in the feed with a name on it, pins it on the ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 chart, and Copy loads the same legs into the ticket. The size stays the trader's call.
Price Protection for RFQs is live on Tunder ⚡
Every RFQ is capped at the order book price. When a market maker beats it, the trade fills at the better price and the confirm screen shows the saving.
Introducing Price Protection for RFQs
Your price or better: if a better quote comes in while you’re reviewing, Smart RFQ updates your price for you.
Hit confirm and it checks once more for the best available quote. You keep any price improvement, and your trade won’t execute at a worse price than the one you confirm.
Try it out at: app.derive.xyz/trade/rfq
What's an RFQ?
A request for quote: market makers price the whole order at once. On Tunder ⚡ the order book price is the ceiling. If no maker beats it, the book fills the trade.
How the auto-router picks between the two:
nitter.cf/tundertrade/status/210…
The Tunder ⚡ auto-router checks every trade for a better price
On @DeriveXYZ, a trade can fill two ways: on the order book, or through an RFQ to market makers. Tunder picks the better one for each trade, on its own.
How the auto-router works: before a trade goes out, Tunder prices it on the order book, leg by leg, fees included. Then it estimates what market makers would quote for the same order and how likely they are to answer. If an RFQ could save 1% or more of the premium (and at least $0.50), and a maker is likely enough to answer, Tunder sends one. Otherwise the trade goes straight to the book. An RFQ asks makers for one firm price for the whole order, all legs together, and the book price is the ceiling: a quote fills only if it beats the book. If no maker answers, or no quote is better, the book fills the trade.
Why it matters: the book often shows only a few contracts at the best price, so bigger orders walk the book and fill worse. A maker can price the full size at once, and multi-leg trades get one price instead of filling leg by leg.
Auto is on by default. Book or RFQ can still be picked by hand.
Options made simple.
⚡ tunder.trade
Tunder ⚡ now supports more deposits from Ethereum, Arbitrum, Base, HyperEVM, Optimism and Polygon through your connected wallet.
Plus kHYPE deposits on Ethereum.
kHYPE deposits are now live on tunder.trade ⚡
kHYPE makes its Ethereum debut with Derive V3.
We've worked with @Kinetiq_xyz to bring kHYPE to Ethereum via Chainlink CCIP. Holders will continue earning HYPE staking rewards while using kHYPE as collateral to trade options and perps on Derive.
This opens up a new source of utility for staked HYPE, connecting Hyperliquid's growing ecosystem with Ethereum's derivatives markets. The more places kHYPE can be put to work, the stronger the incentive to stake HYPE.
With V3's Ethereum-native custody and ZK-verified settlement, we expect to see more of this across DeFi: yield-bearing assets from one ecosystem becoming productive collateral in another, without sacrificing their underlying yield.
