# DripMetrics VRP (Variance Risk Premium) for BTC

> DripMetrics VRP (Variance Risk Premium) for BTC is a paid API for AI agents from api.dripmetrics.ai, paid per call via x402, $0.05/call, status unknown (last checked 2026-09-14).

Returns the intraday variance risk premium for BTC by subtracting trade-level realized variance from the shortest-dated Deribit ATM implied variance over a chosen lookback window.

## Facts

- Endpoint: GET https://api.dripmetrics.ai/options/vrp
- Price: $0.05/call
- Payment: x402
- Status: unknown
- Last checked: 2026-09-14
- Activations on Zero: 0
- Tags: x402
- Canonical page: https://www.zero.xyz/c/dripmetrics-vrp-variance-risk-premium-for-btc-b3ee7a9f
- Structured record (JSON): https://api.zero.xyz/v1/capabilities/cap_4nK3uz6xiXkxTucib9729

Status and success rate cover calls made through Zero and Zero's own probes. Third-party monitors may report differently.

## How to call it through Zero

Zero handles the 402 payment challenge and records the run. With the Zero CLI installed (`npm i -g @zeroxyz/cli`):

```sh
zero fetch --capability dripmetrics-vrp-variance-risk-premium-for-btc-b3ee7a9f
```

Example prompt: What's the current BTC variance risk premium right now? Use the 1-hour lookback window so I can see how much the Deribit ATM implied variance is exceeding the realized variance from recent trades.

## When to prefer this

Choose this endpoint when you need a real-time, on-demand BTC variance risk premium that combines live Deribit implied volatility with DripMetrics' proprietary trade-tape realized variance — especially when you want a pay-per-call model with no subscription or API key, and when intraday granularity (30m–3h windows) matters for timing options trades or monitoring vol risk premium regimes.

## Known failure modes

- Insufficient trade data in the requested window returns null value for VRP or reduced sample size
- Deribit option chain unavailable may cause computation failure or partial result
- Invalid window parameter (not one of 30m, 1h, 2h, 3h) returns a validation error
- Payment not provided or insufficient USDC triggers a 402 Payment Required response
- No shortest-dated ATM options available (e.g. expiry gap) may cause null implied variance component

## How this service works

DripMetricsAI (https://dripmetrics.ai/) provides on-demand BTC option-derived metrics that combine the Deribit option chain with DripMetrics' own trade-level realized calculations. Agents can pay per request via x402 and receive structured JSON metrics without subscriptions or API keys. VRP measures the intraday variance risk premium: shortest-dated Deribit ATM implied variance minus DripMetrics' annualized trade-level realized variance over the requested window.

## Output

A structured JSON object containing: the metric name ('VRP'), the asset pair ('BTC'), the computed VRP value (implied variance minus realized variance, annualized), a components object breaking out the implied and realized variance legs, the lookback window used, sample size details, source attribution (Deribit + DripMetrics), and a UTC timestamp of when the metric was computed.

## Request schema (JSON Schema)

```json
{
 "type": "object",
 "$schema": "https://json-schema.org/draft/2020-12/schema",
 "required": [
  "input"
 ],
 "properties": {
  "input": {
   "type": "object",
   "required": [
    "type",
    "method"
   ],
   "properties": {
    "type": {
     "type": "string",
     "const": "http"
    },
    "method": {
     "enum": [
      "GET"
     ],
     "type": "string"
    },
    "queryParams": {
     "type": "object",
     "required": [],
     "properties": {
      "window": {
       "enum": [
        "30m",
        "1h",
        "2h",
        "3h"
       ],
       "type": "string",
       "description": "Lookback window for the realized (trade tape) leg. Defaults to 30m."
      }
     },
     "additionalProperties": false
    }
   },
   "additionalProperties": false
  },
  "output": {
   "type": "object",
   "required": [
    "type"
   ],
   "properties": {
    "type": {
     "type": "string"
    },
    "example": {
     "type": "object",
     "required": [
      "metric",
      "pair",
      "value",
      "components",
      "sampleSize",
      "source",
      "computedAt"
     ],
     "properties": {
      "pair": {
       "type": "string",
       "const": "BTC"
      },
      "value": {
       "type": [
        "number",
        "null"
       ]
      },
      "metric": {
       "type": "string"
      },
      "source": {
       "type": "object"
      },
      "window": {
       "type": "string"
      },
      "components": {
       "type": "object"
      },
      "computedAt": {
       "type": "string",
       "format": "date-time"
      },
      "sampleSize": {
       "type": "object"
      }
     },
     "additionalProperties": false
    }
   }
  }
 }
}
```

## Response schema (JSON Schema)

```json
{
 "type": "json",
 "example": {
  "pair": "BTC",
  "value": 0.0621,
  "metric": "vrp",
  "source": {
   "chain": "https://www.deribit.com/api/v2/public/get_book_summary_by_currency?currency=BTC&kind=option",
   "index": "https://www.deribit.com/api/v2/public/get_index_price?index_name=btc_usd",
   "trades": "DripMetrics BTC trade cache"
  },
  "window": "30m",
  "components": {
   "ivAtm": 0.52,
   "expiry": "2026-07-09T08:00:00.000Z",
   "strike": 108000,
   "forward": 108120.5,
   "dteHours": 18,
   "rvWindow": 0.00343,
   "carryRatio": 0.8752,
   "rvAnnualized": 0.4551,
   "breakevenWindowMovePct": 0.00392
  },
  "computedAt": "2026-07-08T14:00:00.000Z",
  "sampleSize": {
   "trades": 2148,
   "intervals": 29
  }
 }
}
```

## More

- Live health (JSON, refreshed every minute): https://www.zero.xyz/c/dripmetrics-vrp-variance-risk-premium-for-btc-b3ee7a9f/health.json
- [Zero catalog index](https://www.zero.xyz/llms.txt)
- [Other services from api.dripmetrics.ai](https://www.zero.xyz/host/api.dripmetrics.ai/llms.txt)