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Crypto PnL Calculator: How to Calculate Profit, Loss and ROI on Futures Trades
The exact long and short PnL formulas for crypto futures, how ROI on margin differs from raw profit, and a worked long plus short BTC example showing how fees and funding cut into realized PnL.
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Crypto Margin Calculator: How to Calculate Required Margin, Isolated vs Cross, and Liquidation Buffer
A margin-focused guide to crypto futures: how to calculate required (initial) margin, maintenance margin, margin ratio, and how those numbers set your liquidation buffer. Includes a worked BTC example, a numbered methodology, and an isolated vs cross comparison table.
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How to Calculate Crypto Leverage, Margin, and Liquidation Price (with a Free Calculator)
A practical, formula-by-formula guide to computing margin, liquidation price, and PnL on a leveraged crypto trade, worked through a real 10x BTC long. Pair it with the free crypto leverage calculator on Athenum to size any position before you click.
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Options Max Pain in Crypto: What the Max-Pain Price Means and Why Price Drifts Toward It
Options max pain is the strike where the most option value expires worthless. Here is how the max-pain price is built, what the put/call ratio adds, and how to read both on a live BTC options map.
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Athenum Cross-Exchange Derivatives Index, week of 2026-06-20
A weekly read of the cross-exchange crypto derivatives tape: funding, open interest, basis, and implied volatility across Athenum's coverage of 14 exchanges, as of 2026-06-20.
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Bitcoin as Digital Gold: How the Safe-Haven Correlation Actually Behaves
Bitcoin shares gold's monetary properties but not its price behavior; the BTC-gold correlation is low, unstable, and regime-dependent, so check the live regime.
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Macro Regime Neutral at 0.45 Confidence as VIX Holds at 25.33 and BTC Faces a $14.8B Quarterly Options Expiry
Date: March 27, 2026 | Data source: Athenum Analytics API, Deribit, Coinglass
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Eight of the Last Ten ETH ETF Sessions Printed Outflows
Ethereum ETFs have logged eight net outflow sessions in ten trading days, with Athenum flows and derivatives data showing a controlled but persistent reduction in listed ETH exposure.
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VWAP and the Value Area: Reading Where Crypto Actually Trades
How VWAP, anchored VWAP, the point of control, and the value area define where crypto has actually traded, plus the honest limits of each.
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OI-weighted funding rates: calculation, intervals and limitations
An open-interest-weighted funding rate is a summary of selected perpetual contracts. Each comparable rate receives the weight of that contract's USD notional open interest. It is not the rate charged on your position, a measure of net long positions, or a forecast of the next price move.
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The Coinbase Premium Index: Reading US Spot Demand in Real Time
A practical guide to the Coinbase Premium Index: how it is computed, what positive vs negative means, and where this US spot-demand proxy misleads.
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Bitcoin–Nasdaq correlation: a reproducible measurement guide
Bitcoin–Nasdaq correlation describes the linear association between two specified return series over a specified window. It is not a permanent property of Bitcoin. This guide explains how to define the measurement; the [July 2026 claim audit](/blog/bitcoin-nasdaq-correlation/) addresses an earlier numerical headline separately.
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