# Implied Volatility & Max Pain (Crypto Options) > Implied Volatility & Max Pain (Crypto Options) is a paid API for AI agents from derivs.duoleads.com, paid per call via x402, $0.003/call, status unknown (last checked 2026-10-15). Returns implied volatility, max pain, put/call OI ratios, skew, and per-strike greeks for BTC/ETH/SOL options across Deribit, Bybit, and OKX, by expiry date. ## Facts - Endpoint: GET https://derivs.duoleads.com/v1/options?utm_source=zero.xyz - Price: $0.003/call - Payment: x402 - Status: unknown - Last checked: 2026-10-15 - Activations on Zero: 0 - Tags: x402 - Canonical page: https://www.zero.xyz/c/implied-volatility-max-pain-crypto-options-935805e9 - Structured record (JSON): https://api.zero.xyz/v1/capabilities/cap_jJeaO1VqFWFebYKvaijAq 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 implied-volatility-max-pain-crypto-options-935805e9 ``` Example prompt: What's the current implied volatility and max pain strike for BTC options expiring on 2025-01-31, across Deribit, Bybit, and OKX? ## When to prefer this Use this endpoint when you need crypto options-specific analytics: implied volatility levels, max pain, put/call ratios, or 25-delta skew across multiple centralized venues simultaneously. Prefer this over generic market data APIs when you need cross-venue options comparison (Deribit, Bybit, OKX) or want a full expiry term structure in one call. Not suitable for spot prices, perp funding rates, or equity/FX options. ## Known failure modes - Missing required 'coin' query parameter returns a validation error - Options data only reliably available for BTC and ETH; other coins may return empty expiries - Expiry date not matching any listed contract returns empty results - Stale flag may be true if venue data is delayed - Payment failure (x402) if USDC balance on Base is insufficient ## How this service works Perp funding rates, open interest, futures basis, implied volatility, liquidations, order book depth and a perp screener for crypto perpetual futures across 8 exchanges (Bybit, Hyperliquid, dYdX, Gate, Kraken, Bitfinex, Deribit, OKX), paid per call over x402 with USDC on Base. No account, no API key. ## Output A JSON object containing: the coin, the DVOL index value with 24h range and change, and an array of expiries each with per-venue data including ATM IV (as a fraction), max pain strike in USD, open interest in coins, put/call OI ratio, 25-delta skew details (put IV, call IV, risk reversal), the venue's forward/underlying price, and optionally a per-strike options chain with greeks when a specific expiry date is requested. ## 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": [ "coin" ], "properties": { "coin": { "type": "string", "maxLength": 32, "minLength": 1, "description": "Underlying coin: BTC, ETH, SOL ... (options exist mainly for BTC and ETH)." }, "expiry": { "type": "string", "pattern": "^\\d{4}-\\d{2}-\\d{2}$", "description": "Optional expiry date YYYY-MM-DD (UTC): only that expiry, plus its chain per strike with the venues' greeks. Default: the 6 nearest expiries, no chain." } } } }, "additionalProperties": false }, "output": { "type": "object", "required": [ "type" ], "properties": { "type": { "type": "string" }, "example": { "type": "object" } } } } } ``` ## Response schema (JSON Schema) ```json { "type": "json", "example": { "coin": "BTC", "colo": null, "dvol": { "time": "2026-10-14T22:00:00Z", "as_of": "2026-10-14T23:00:00Z", "value": 39.13, "venue": "deribit", "low_24h": 37.75, "high_24h": 39.3, "change_24h": 0.96 }, "as_of": "2026-10-14T23:00:00Z", "units": { "iv": "implied volatility as a fraction (0.45 = 45 %), annualised", "dvol": "Deribit volatility index, annualised percent", "skew": "put IV - call IV at 25 delta (fraction)", "greeks": "as published by the venue (Bybit, OKX); Deribit publishes none in bulk", "max_pain": "strike (USD) where option holders' intrinsic value at expiry is smallest", "oi_coins": "coins", "underlying": "USD per coin (the venue's underlying / forward price)", "put_call_oi_ratio": "put open interest / call open interest" }, "expiries": [ { "expiry": "2026-10-15T08:00:00Z", "venues": [ { "as_of": "2026-10-14T23:00:00Z", "stale": false, "venue": "deribit", "atm_iv": 0.390797, "strikes": 28, "max_pain": 83500, "oi_coins": 3102.7, "skew_25d": null, "underlying": 81562.84, "put_call_oi_ratio": 1.42436 }, { "as_of": "2026-10-14T23:00:00Z", "stale": false, "venue": "bybit", "atm_iv": 0.390494, "strikes": 28, "max_pain": 82500, "oi_coins": 2832.08, "skew_25d": { "skew": 0.0289, "put_iv": 0.4155, "call_iv": 0.3866, "put_delta": -0.274783, "call_delta": 0.27996, "risk_reversal": -0.0289 }, "underlying": 81646.3838, "put_call_oi_ratio": 0.765449 }, { "as_of": "2026-10-14T23:00:00Z", "stale": false, "venue": "okx", "atm_iv": 0.386518, "strikes": 27, "max_pain": null, "oi_coins": null, "skew_25d": { "skew": 0.00777776, "put_iv": 0.40066, "call_iv": 0.392882, "put_delta": -0.27447, "call_delta": 0.201432, "risk_reversal": -0.00777776 }, "underlying": 81622.81366, "put_call_oi_ratio": null } ], "days_to_expiry": 0.375 }, { "expiry": "2026-10-16T08:00:00Z", "venues": [ { "as_of": "2026-10-14T23:00:00Z", "stale": false, "venue": "deribit", "atm_iv": 0.387452, "strikes": 26, "max_pain": 83000, "oi_coins": 17322.2, "skew_25d": null, "underlying": 81582.3, "put_call_oi_ratio" … (truncated) ``` ## More - Live health (JSON, refreshed every minute): https://www.zero.xyz/c/implied-volatility-max-pain-crypto-options-935805e9/health.json - [Zero catalog index](https://www.zero.xyz/llms.txt) - [Other services from derivs.duoleads.com](https://www.zero.xyz/host/derivs.duoleads.com/llms.txt)