BTC · live
IV term structure
ATM implied volatility by expiry
Expiries
| Expiry | DTE | ATM strike | ATM IV | Strikes |
|---|
Reading BTC IV term structure
An upward slope (contango) is normal — longer-dated options carry more uncertainty premium. A spike at the nearest expiry often reflects an event priced into that date specifically. Compare against DVOL context on the full vol page and weekly Friday expiries on the Deribit calendar.
Where does IV come from?
Deribit's own mark_iv on every strike — we average call and put at the nearest strike to spot for each expiry.
Is this the same as the IV surface page?
No — this page is ATM IV across expiries only. The IV surface shows skew and the moneyness × expiry grid.