Methodology & data sources

Calculators: inputs and assumptions

Our free calculators turn the inputs displayed on the page into a mathematical scenario. An entry price or funding rate you type is an assumption, not a verified live quote. Features that load market or historical data identify that source separately. A reference link explains a formula or market convention; it does not mean that the calculator fetches that source in real time.

Leverage and liquidation estimates depend on the selected margin model. Actual exchange liquidation may also depend on mark price, maintenance-margin tiers, other positions, collateral, funding and fees. Risk-based position sizing uses the account risk and stop distance you enter; a stop order does not guarantee that execution price. Funding projections assume the entered rate and interval remain constant.

Return, staking and compounding projections are scenarios. They do not forecast asset prices, protocol rewards, taxes or future rates. Option models depend on volatility and pricing assumptions. Expected-value and Kelly calculations rely on the probability supplied by the user. Check the explanation beside each result before applying it.

Market data: source, time and coverage

Exchange APIs supply the market observations behind our public funding and open-interest pages. Those pages expose the source venue, observation time, units and methodology. Availability, supported contracts and refresh intervals differ by dataset; a missing or stale observation should not be interpreted as zero activity.

Funding rates must be read with their settlement interval. Open interest can be expressed in contracts, coins or quote-currency value. Aggregated values depend on the venues and instruments included. A 24-hour return and a return since midnight UTC measure different windows. Compare like-for-like definitions before comparing values.

Order-book liquidity describes displayed orders, which can be changed or cancelled. Reported liquidations describe exchange events; modeled liquidation levels are estimates. Neither reveals every trader's position or guarantees where price will move next.

Research: reproducible, scoped results

Our published studies specify the instruments, observation period, calculation rules and limitations. Downloadable tables and calculation scripts accompany the studies so readers can inspect and reproduce the published aggregates. Cite the study URL and publication date; translations describe the same dataset.

The leverage study tests hypothetical hourly entries against subsequent Binance BTC and ETH mark-price candles. Its liquidation-touch frequency is a historical model result, not an observed fraction of all traders liquidated and not the probability of a future trade. Overlapping holding windows are not independent observations.

The Bitcoin and Ethereum baseline studies compare return definitions on an identified historical sample. A difference between those definitions is not a trading strategy or evidence of profitable execution.

Authorship and editorial responsibility

Athenum Analytics publishes the tools and the studies linked here. Our editorial profile identifies the publication and describes its scope. Individual article bylines identify the credited authors where available. Organization authorship does not imply an independent academic review or a personal financial qualification.

We distinguish calculated scenarios, recorded observations and interpretation. Sources and assumptions should support the claim next to them. Research does not promise returns, execution quality or protection from loss. Product access and subscription terms are described separately on the pricing and billing pages.

Report a data or calculation issue

Send the page URL, observation time with time zone, input values and the result you expected. Include the exchange and instrument for market-data issues. Do not send passwords, API secrets or account credentials. These details make a report reproducible and help distinguish a model limitation from a defect.