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THE CONNECTED MARKET WORKSPACE

Market context.
One workspace.

Athenum is an analytics terminal for traders and analysts. Compare global events, market positioning and order flow in one workspace.

No credit card required

IRAN WAR / GLOBAL IMPACT

One conflict.
Global consequences.

Iran war: talks to reopen Hormuz face major hurdles

Mediators are seeking an end to the fighting and a reopening of the waterway connecting Gulf oil exports with global markets.

Location
Strait of Hormuz
Country
Iran / Oman
Read at AP · Local 10 ↗

Map context · waterway, not an incident location

Fixed news example, not a live feed. The report describes the situation on its publication date.

Exchange feeds and public data sources.

Examples of data sources, not partners. Coverage and update frequency vary by source, market and tool.

FROM THE BIG PICTURE TO THE DETAIL

One market.
Six perspectives.

An event is only the beginning. Explore its context, examine positioning and investigate the market in one workspace.

01 / 06World Map

Connect events to the markets.

Explore geopolitical events, shipping routes and critical infrastructure. Map layers carry source and freshness information.

  • News and events
  • Geopolitical layers
  • Shipping routes
ATHENUM / World Map
Historical Athenum World Map with shipping routes, trade chokepoints and LNG terminals.
Shipping routes · Trade chokepointsActual product view

Real app recordings · Dated recordings: September 16 – 24, 2026. The displayed market values and source status reflect the time of recording. TradeFi availability varies by module. Product areas and subscription domains are different: see plan details below.

A WORKFLOW THAT FITS TOGETHER

Check a thesis from three angles.

Build context. Locate risk. Check liquidity. Three connected steps, in one research workspace.

Start with the backdrop.

Compare economic series and liquidity conditions in Macro Chart Builder.

Macro · Chart Builder
Athenum Macro Chart Builder comparing the Fed balance sheet, Treasury General Account and reverse repos.
Actual product view

Put risk in context.

Compare price with estimated BTC/USDT liquidation zones. The heatmap is a model, not a forecast.

Derivatives · Liquidation Heatmap
BTC/USDT liquidation heatmap on Binance Futures, 1h, with the Cascade-fuel panel collapsed.
Actual product view

Inspect resting liquidity.

Compare large bids and asks in Whale Walls by price and BTC size. Resting orders can change or be cancelled; they are not executed trades.

Order Flow · Whale Walls
Athenum Whale Walls orderbook for BTC/USDT across Binance Spot, Binance Futures and Coinbase.
Actual product view

Historical product captures, recorded separately. These steps illustrate a research process, not an automatic link between a news event and a trade.

GUIDED PRODUCT TOUR · MARKET MOVEMENT

Read the market.
Understand the move.

01Terminal

See the bigger picture.

View BTC price, session returns and market correlations together.

Historical Athenum terminal workspace with a BTC chart, Session Returns, Correlation Matrix, Hourly Returns Heatmap, liquidations and Trade Feed
Historical capture · Sep 23, 2026

02Argus

See the market structure.

Explore structure breaks, order blocks and key price zones.

Historical Athenum Argus chart for BTC/USDT with market structure markers, order blocks and price zones
Historical capture · Sep 17, 2026

03Volume Delta

See the trading pressure.

Compare spot and futures buying and selling pressure alongside BTC price.

Historical Athenum Volume Delta capture showing the BTC price and separate futures and spot views
Historical capture · Sep 17, 2026
Historical Athenum terminal workspace with a BTC chart, Session Returns, Correlation Matrix, Hourly Returns Heatmap, liquidations and Trade Feed
Historical capture · Sep 23, 2026
01 / 03 · Terminal

Authentic product views, captured separately. Historical data, not live values. The captures illustrate a research workflow and are not synchronised in time.

Market data for your own tools.

The Athenum API is still in development. It is planned for Pro+ and will bring market data into your own dashboards and research.

  • Orderbook
  • Liquidations
  • Open Interest
  • Whale Positions
  • Funding
  • Macro Data
  • TradeFi
  • Prediction Markets
  • ETF Flows
  • Options
  • Price History
  • Volume Delta
Athenum API
Your application
Compare plan details

The diagram groups product datasets; it is not a list of available or guaranteed endpoints. Endpoints, limits and the launch date will be published in the documentation once the API is released. Trial accounts cannot create API keys.

WHY ATHENUM

Built around connected research.

Market research often means moving between charts, economic releases and exchange data. Athenum brings those views into one workspace so you can compare their evidence and limitations.

Legal Notice

ONE WORKSPACE. YOUR PERSPECTIVE.

Start curious.
Go deeper.

From your first market view to all five analysis domains.
Find the plan that fits the way you research.

Start with 7 days of Pro+. No credit card required.

One 7-day trial per user, after email verification. No API keys during the trial. It ends without an automatic charge; you can then choose a paid plan or continue with Free.

Explore

Free

Explore selected core tools

$0/mo

Free access to get started

Create a free account
1 analysis domain
  • Delayed data; no real-time entitlement
  • 1 venue per feature
  • Up to 24 hours of history
All features & domains

Choose Order Flow or Derivatives, with selected core tools and the Free limits below.

  • 1 saved layout
  • Delayed data; no real-time entitlement
  • 1 venue per feature
  • Up to 24 hours of history
  • ETHUSDT · 1h, 4h and 1d intervals
  • No alerts
  • Email and community support
How the domains work
Focus

Lite

Focus on one analysis domain

$27/mo

Billed monthly · USD

Choose Lite
1 analysis domain
  • Real-time access where the source supports it
  • Up to 5 venues per feature
  • Up to 48 hours of history
All features & domains

Choose Order Flow or Derivatives, with selected core tools. The plan does not include every feature in that domain.

  • Real-time access where the source supports it
  • Up to 5 venues per feature
  • Up to 48 hours of history
  • 3 saved layouts
  • Argus v1 · Whale notifications planned
  • Full symbol and interval catalog for available tools
  • Email and community support
How the domains work
Connect

Pro

Combine three analysis domains

$97/mo

Billed monthly · USD

Choose Pro
3 analysis domains
  • 3 analysis domains
  • All supported venues per feature
  • Up to 1.5 years of history
All features & domains

Order Flow + Derivatives, plus one of: Macro & Data, Macro Intelligence or TradeFi.

  • 3 analysis domains
  • All supported venues per feature
  • Up to 1.5 years of history
  • 10 saved layouts
  • Macro alerts · Whale notifications planned
  • Advanced indicators · Argus except v4
  • Advanced prediction-market signals
  • Email and community support
How the domains work

The current Founder offer prices Pro+ at $37/month instead of the standard $297. That is why Pro+ currently costs less than Pro. Monthly billing only; the Founder price is retained while the subscription stays active.

Compare plan details

These are plan ceilings, not guaranteed data coverage. Available history can be shorter; exchanges, symbols and refresh rates depend on the tool and source. Free and Lite include selected core tools in their chosen domain. Whale push and email notifications in account settings are still planned; they are not part of the currently configurable features. The Athenum API is still in development and planned for Pro+; it is not available yet. Commercial data exports are a Pro+ entitlement, but there is no separate export feature yet; CSV downloads built into individual tools are independent of it.

Six product areas. Five analysis domains.

The six perspectives above group the product by research question. Billing uses five domains: Order Flow, Derivatives, Macro & Data, Macro Intelligence and TradeFi. The Macro perspective spans the two macro domains.

World Map and the basic Prediction Markets workspace are platform views, not extra domain choices. Advanced prediction-market signals require Pro or Pro+. Individual module releases and data limits still apply.

Paid domain selections are fixed until the next selection window: the next billing date for monthly plans, or the first of the next calendar month (UTC) for annual plans.

How the domains work
FAQ

Frequently Asked Questions

Everything you need to know about the platform, security, and pricing.

Still have questions?
What is Athenum?

Athenum is a multi-asset analytics terminal for traders and analysts. It connects order flow, derivatives, macro data, prediction markets and geopolitical context. The product views show the actual platform; individual modules may have different availability.

How do the views work together?

Use macro series and events to frame a question, then examine positioning, executed trades and resting orders. The shared workspace makes comparison easier; a correlation or marked price zone is not a trading signal by itself.

What does Athenum cost?

You can use the free trading calculators without an account and try Pro+ for 7 days without a credit card. Paid access is available through Lite, Pro and Pro+. The plan comparison above shows current monthly and annual prices, included domains and any active founder offer. One 7-day trial per user, after email verification. No API keys during the trial. It ends without an automatic charge; you can then choose a paid plan or continue with Free.

Do I need to connect an exchange account?

No exchange connection is required to explore the public market data, charts and analytics shown here. The analytics workspace does not need permission to access your funds.

Is the same data available for every exchange?

Coverage depends on the exchange, instrument and tool. Order books, derivatives, options and macro data use different sources. Check the selected market and source in the relevant view; not every venue provides every dataset.

Does Athenum work on my phone?

The terminal is designed for desktop browsers and a multi-panel layout. Mobile is useful for quick checks; complex charts and research views work best on a larger screen. Availability also depends on browser and graphics support.

Can I cancel if it's not for me?

You can manage and cancel your subscription in your account settings. Access continues for the remainder of your paid billing period. The billing documentation explains renewals and cancellation. No credit card is required for the 7-day trial.

Free Tools

A useful place to start. Free.

Size a position, calculate leverage or model funding costs. Our trading calculators work without an account.

Explore all free tools
Learn

Free Crypto Trading Courses

Build a process you can check. Start with risk and execution, then work through the evidence behind derivatives and order-flow signals. Each lesson includes a calculation or case study, a failure case and a practice question.

20 courses · 100 lessons · 7 languages

All courses
Latest Research

From the Blog

View all articles
Horizontal bars showing how many hours a long must hold a Bitcoin perpetual before cumulative funding exceeds the round trip taker fee, measured over the 30 closed days ending 2026-10-08 00:00 UTC: Hyperliquid 88 hours, Bitget 153, OKX 164, Binance 178 and Bybit 214, each with a gold whisker for the range across the window's three 10 day blocks and a diamond for the hour the realized path actually crossed

Cost of Holding a Bitcoin Perp: Funding Passes the Round Trip Fee at the 18th Settlement

The cost of holding a bitcoin perp is usually compared venue by venue on the taker fee, and that is the smaller of the two numbers as soon as the position lives longer than a few days. Over the 30 closed days to 2026-10-07 a Binance long paid 40.33 basis points of funding against a 10 basis point round trip, so the funding bill passed the fee at the 18th of 90 settlements.

Athenum AnalyticsAthenum Analytics
14 min
Every live perpetual on Binance, Bybit, OKX, Bitget and Hyperliquid plotted by its tick size in basis points of its own price on a logarithmic axis, with the contracts where half a tick exceeds that venue's standard taker fee marked in gold: 3 of 568 on Binance, 14 of 850 on Bybit, 0 of 500 on OKX, 1 of 813 on Bitget and 6 of 178 on Hyperliquid

Tick Size vs Taker Fee: On 24 Perps Half a Tick Costs More Than the Fee

On a Bitcoin perpetual the taker fee dwarfs the price grid, and that is the comparison almost everyone generalizes from. Read across every live perpetual on five venues at 08:40 UTC on 2026-10-06, 2,909 contracts in all, it inverts on the long tail. The tick is a fixed number of decimal places.

Athenum AnalyticsAthenum Analytics
13 min
The biggest single market order on a Bitcoin perpetual on 2026-10-05: Binance BTCUSDT 10.33 million dollars, Bybit BTCUSDT 12.91 million, OKX BTC-USDT-SWAP 30.12 million, each bar labelled with where that venue puts its limit order cap, 8.3 times higher on Binance, 10 times higher on Bybit and 1.5 times LOWER on OKX at 20.00 million, and a gold dashed line at 19.48 million marking the asks resting within 10 basis points of the mid on Binance

Maximum Market Order Size: Bitcoin Stops at $10.3M and a Typical Perp at $99,510

Binance, Bybit and OKX each publish a hard ceiling on how much one market order may take, and it is a different number from the limit order ceiling. On 2026-10-05 the Bitcoin perpetual stopped at $10.33M, $12.91M and $30.12M, while the median contract stopped at $99,510, $26,376 and $16,488.

Athenum AnalyticsAthenum Analytics
17 min
Reserve behind the Bitcoin perpetual at four venues on 2026-10-03: Binance $1,290M shared by 8 contracts and 856 basis points of cover, Bybit $386M shared by 161 contracts and 668 basis points, OKX $90M for the single BTC-USDT swap and 373 basis points, the whole Hyperliquid HLP vault $183M against all 178 live markets and 144 basis points, and the four HLP liquidator strategies alone $33M and 26 basis points

Crypto Insurance Funds Are Not One Pot: 123 at Binance, and Cover Varies a Hundredfold

The futures insurance fund is the reserve that pays the winner when a liquidation closes worse than its bankruptcy price, and when it runs out the venue reaches for auto deleveraging instead. Almost everything written about it, including two explainers on this blog, treats it as one number per excha

Athenum AnalyticsAthenum Analytics
17 min
Athenum chart of what decides whether a liquidation closes only part of a position at eight perpetual venues on 2026-09-24, with four gating it on the risk limit tier and three carrying no size condition in the rule at all

Who Gets a Partial Liquidation and Who Gets Closed All at Once

A liquidation does not always close your whole position. Reading eight venues' own liquidation documentation on 2026-09-24, all of them document closing some positions in part, and they disagree about whose. Bybit, OKX, Bitget and Gate gate the step on the risk limit tier, so a bottom tier position is closed in one action, and OKX stops a rung higher still, at tier 2. Hyperliquid gates on a flat 100,000 USDC of position size, and above it grants one slice before a 30 second cooldown in which orders go back to full size. Binance makes one Immediate or Cancel attempt for every position with no size term in its rule while documenting why smaller ones fare worse anyway. Kraken closes in fixed 10 per cent increments and Deribit repeats liquidation rounds until the requirement is met, neither with a size condition. Position size sits inside the rule itself on five of the eight venues we read and is absent from the rule on the other three.

Athenum AnalyticsAthenum Analytics
20 min
Athenum bar chart of every 24 hour change figure published for the Bitcoin USDT perpetual at one instant on 2026-09-22 08:39:25 UTC: Bybit +3.662 per cent, Gate.io +2.790, OKX +2.783, Bitget +2.761 and Binance +2.533 all measured from a trailing 24 hour window, against OKX sodUtc8 at -0.092 per cent measured from 00:00 UTC+8 and OKX sodUtc0 at -0.902 and Bitget changeUtc24h at -0.916 measured from 00:00 UTC, a total spread of 4.58 percentage points.

Bitcoin 24 Hour Change: Which Baseline, and Why It Flips the Sign 1 Hour in 4

A Bitcoin 24 hour change is a two point statement, and exchanges disagree about the first point. Some measure from a trailing 24 hour window, some from the price at 00:00 UTC, and OKX also publishes one from 00:00 UTC+8. Read at 2026-09-22 08:39:25 UTC in a 3.0 second capture, the BTC/USDT perpetual carried +3.662 per cent on Bybit and -0.916 per cent in Bitget's since-midnight field, a spread of 4.58 percentage points on the same asset at the same second, with Bitget returning both of its figures in one response object. This is not an edge case. Over the 8,760 hourly readings from 2025-09-22 09:00 UTC to 2026-09-22 08:00 UTC the two baselines differed by a median 0.663 percentage points, by more than 1 point at 37.1 per cent of readings and by more than 2 at 16.3 per cent, and they carried OPPOSITE SIGNS at 2,240 of 8,760, or 25.6 per cent. The disagreement is strongly patterned by the clock: at 01:00 UTC the two figures pointed opposite ways on 51.0 per cent of days, at 23:00 UTC on 4.9 per cent. The same split runs through metrics other than price. Athenum's own cross-venue Bitcoin perpetual open interest at 2026-09-22 07:00 UTC reads +6.96 per cent against 24 hours earlier and -0.81 per cent against 00:00 UTC, from one series at one stamp.

Athenum AnalyticsAthenum Analytics
18 min

See how it all connects.

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Start 7-day free trial 7 days of Pro+ · No credit card requiredActual product recording · Market data shown is historical