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Alpha Discovery
We define Directional Alpha as a signal that exhibits a consistent positive or negative relationship with forward returns.
Sample data
Intro to Aperiodic Derivatives Metrics
This notebook introduces a simple derivatives regime dashboard using Aperiodic's `funding`, `open_interest`, and `basis` metrics for Binance BTC perpetuals over September 1, 2025 → February 28, 2026 at 5-minute frequency.
Sample data
Intro to Aperiodic Flow Metrics
This notebook introduces order-flow analytics with the `aperiodic` Python package. We focus on a single large-cap instrument — Binance BTC perpetuals (`perpetual-BTC-USDT:USDT`) — over the exact six-month window from September 1, 2025 through February 28, 2026, using 1-hour observations.
Intro to Aperiodic L1 Price Metrics
This notebook explores top-of-book (L1) pricing with Aperiodic's `l1_price` metric for Binance BTC perpetuals from September 1, 2025 through February 28, 2026 at 5-minute granularity.
Predicting Short-Term Crypto Returns with Market Microstructure
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111111111111 _111000_ 100_ _0011_ 11 _0011_ 0 011 _011 _0 0011_ _00 _ _000011 00000111111 ____0000000
..+ .+cb+. .+ac+ c. .ac. .ac. +b +abc+. bcc++. +aabbbcccc+ ...........
111111111110 __111000_ 00_ _0011_ 1 0011_ _0 11_ 001_ 00 _0011 000 _ __000011 0000111111_ 00000000000
..+ccb +ca+. .+ +ac+ . . .+b+ +b+ +b .+abc+. bc++. aabbccc++++
000000000000 111000_ _1 0_ _0011_ _ _ _011_ _00 1_ _011 _01 _0011 000 _ _0000111 001111111__ 00000000000
...++ccbaa+ ba+ .+c +ab+. + +bc. .ac+ .ab .+abc+. c++.. bbccc+++...
000000000___ 0000_ _111 _ _0011_ _0 _0011 _001 1 001_ 001 _0011 000 _ _0000111 0111111___ 00000001111
cccbbaa+.. +. .+ba +ab+. +a .ac. . .ac. .ac .+abc+. c+.. bcc+++...
0_____ 00_ _11100 _0011_ _00 _0011 0011 _ _011 _001 _0011 000 _ _0000111 011111__ 00011111111
baa++.. .+cba. ab+. +ac .ab+ + +b+. .ac .+abc+. c+. cc++...
___11 _111000_ 00011_ _001 0011 0011_ _001_ 0011 _0011 000 _ _0001111 11111__ 11111111111
+.. .+ba+.. c+. +ac+ .+b+. .a .+b+ +ac .+abc+. ++. c++.. ..
____11111111 _1111000_ 0111 _0011 011 0011_ 0011 _001_ _0011 000 _ _0001111 11111_ _ 11111111___
. .+cba..+a +. +ac+ +bc. .+b .ac. +bc .+abc+. +.. ++.. .....++++
111111110000 110000_ _1 11_ 00011_ 11 0011_ _ _011_ _011_ 0011_ 000 _ _0001111 1111__ __ 11111____
..+cc .+cba+.+abc +ac+ +ac. +bc +bc. .+bc +abc+. +.. ... .++++aaaabb
11100000000_ 000__ _111 1 _00111 1 0011_ _0 0011 _0011 0011_ 000 _ _0001111 111__ __ 111__
..+ccbaa cba+..+bc+. .+ac+ ac+ .ac+ .+b+. .ab+ .abc+. +. .. +aaabbbbccc
0000000__ 0_ __11100 00011_ _0 0011_ _00 011_ _011_ 0011_ 000 _ _0001111 111__ __0 1__ __
.++cbba++. a+..+ab+. .+bc. b+ .ab+ .ac+ .ab+ .abc+. +. . abbbccc+++.
00___ __1 _1110000_ _00111 _00 0011_ _001 011 _0011 0011_ 000 _ _0001111 111_ __00 _ ___00
cbba++. ..+ab+. .ab+. . +. .+bc. +bc. .ab+ .+bc+. +. ccc+++..
_ __11111 1111000_ _ 0111_ _0001 0011_ _0011 11_ 0011_ _ _00111 _00 _ _0000111 11__ __00 __00000
a+.. abc+. +ac+. .a . +ac. ab+. +ac+ .+ab+. +. . +++..
00__ _111 0111_ _000 00011_ _0 _0011 001 011_ _0011_ 11_ _00011 _ _000011 00111111__ 111111___
..++ccbaa++. +cbaa+..+ab bc+. .a +. .ab+. .+bc. + .abc. .+abc .+aabcc+.. ++aaabbcc++
_ _111100 11_ _00011 _0011_ 000 _0011_ _001 011_ _0011_ 111_ _00011 _ _000011 0011111_ 1111__ _
+cbbaa++. ba+..+aabc+ +. .+bc +ab+. +ac+ .+ .abc+ .+abc .+abbc++. +aabbcc++..
__11110000_ _000111_ 0011_ _0011 0011_ _0011 011 _0011_ 111_ _00011 1_ _000011 011111_ 1__ __00
baa++. ...+abc+. .+ab+. +ac+. .ab+. .a .abc+ .+abc .+abbc++. aabcc++..
1110000_ _000111_ _ 11_ _0011_ 011_ _0011_ 11_ 00011_ 111_ _0011 1_ _000011 01111__ _ _ __00000
++. +abcc+. .+abc. .+bc+ +bc. .+a .abc+. .+aab .+abbc+.. bbcc+..
0000__ _00 00111_ 000 1 _00111 11_ _0011_ 11_ _00111_ 011_ _0001 1_ __00011 1111__ _0 __0000011
. .+ bc+. .+abc. .abc. ac+ .ab .+bc+. . .+ab .+abcc+. bc++..
0__ _00001 11_ _00011 _00011_ 0 1_ _00111 11_ _00111 011_ _0001 1_ _00011 1111_ __0 _000011111
.++cb . .+a +abc. +ab+. + b+. .+ac .+bc+. . .+ab .+abcc+. c++.
_0001111 _ _000111 00011_ _00 _ _00111 _ 1_ _0011_ 0111_ 0001 11_ _00011 111__ __00 000001111_
..+cbba+ .++abc c+. +a bc+ .+a c. .abc .+ac+. . .+ab .+abcc+. ++.
_0000111_ _000111_ _ 0111 _0001 _00111 _0 1_ _00011_ 0111_ _000 11_ _00001 111_ _000 0001111_
.++cba++.. .+abc+. . +abc +. .+bc + .+ab+ .+abc. +. .+a .+abcc+. +. .
001111_ _0 00111_ _00 11 _00011_ _00111 _00 1 _00011_ 0111_ _000 11_ _00001 111_ _0000 01111_ _0
.+ccba+...+a .+abc++. .+abc+. +abc+ . +abc+ .+abc+ +. .+a .+abcc+. . .+
111_ _0000 11_ _00011 _000111_ 0011_ _000 _ _00111_ 00111_ _000 111_ _0001 11_ _0001 111__ _000
ccba+..+aabc abc+. .+abc+. .+ab+. .+ac+. .+abc+ +. .+a .+abcc+. ..+a
1_ _000111 _ _000111_ _000111_ 0 011_ _0001 _ _000111_ 00111_ _00 111_ _0001 11_ _00001 11_ _00001
ba+..+abcc+. +. .+ .+bc+. .+abc+. .+abc+. .+abc+ c+. .+ .+abc++. .++ab
_ _0001111_ _000111_ 000111_ _0 111_ _0001 1 _000111_ _00111_ _0 0111_ _000 11_ __0001 1_ _000011
.+abc+. +. .+a +abc+. .+abc+. .+abc+. . .+ab abc+. .+abc+. +. .+a
_000111_ _ 00111_ _00 111_ _0001 1_ _000111 _000111_ 000111_ _0 0111_ _000 11_ _00011 _ _000111_
.+abc+. .+abc+ c+. .+ .+abc+. .+abc+. . .+ab abc+. .+abc+. .+abc
_000111_ _00 111_ _0001 1_ _000111 _ _000111_ _000111_ 0000111_ _ 00111_ _00 111_ 00011 _ _00011_
+abc+. .+abc+. . .+aa +abc+. .+abc+. +. .+a +abc+. .+abc+. .+abc+
00111_ _001 1_ _00111_ __000111_ _000111_ __000111_ 0000111_ _ 00111_ _00 111_ 00011 _00011_
bc+. . .+abc+. .+abcc bbc+. .+abc+. +. .+a +abc+. .+abc+ .+ab+.
011_ _00111 _000111_ 000111_ __ 000111_ _ 0000111__ 0000111_ _ 000111_ _0 111_ _00011 _000111 _
+. +ab abc+. .+abc+.. c+. . .++abc+. +. .+ .+bc+. .+bc+. .abc+.
11_ _00011_ 000111 _00 1111_ _000 0111_ _00 0001111_ _ 0000111_ _ 000111_ _0 111_ _00011 _00111_ _0
.+abc+ +. .+a .++abc+. .. .+ .+abbc+. ++. .+ .+abc+. +abc+. .abc+.
_ _00111 _ 111_ _0001 1_ _000011 11_ _0000 001111_ __ 0000111_ 000111_ _0 111_ _00011 _00011_ _00
.+abc+. .+abc abc++. .+a ..+abcc+. c+. .+ .+abc+. .+ab+. +abc+
_00011_ _00 1_ _00111_ _0001111_ _ _000011 11111_ _0 0000111__ _000111_ _ 111_ _00011 _0011_ 000
+abc+. .+abc+.. c+. .++ab .+aabc++. c+. . .+abc+. .+ac+. .abc. .
_00111 _001 000111_ 0001111_ _ _000001111 111__ _00 00001111_ _000111_ _ 111_ _00011 00111 _001
.+bc+. .+abc+. . .++ ..+abbc .++abbc+.. c+.. . .+bc+. .abc+ abc. .a
0011_ _00111 000111_ 00 0111_ _00 000011111_ 11__ _000 00001111_ _000111_ _ 111_ _00011 0011_ _0011
ac+. .+ abc+. ..+aab ..+aabcc+ ..+aabcc+. cc+. . .+ab+. +abc. bc+ +ab
011_ _0011_ 0111 _0001 11_ _00001 001111__ __ __0000 00001111_ _000111_ _ 111_ _00111 011_ 00111
c. .+bc c+. .+ .+aabcc+ .++aabcc++. .++abbc++. bc+. .+abc. .+ac+. . c+ +ac+
0011_ _001 _ _000111_ _ _000001 000011111__ 11111__ __ _0000111_ 000111_ _00 00011_ _0 _0011 000
bc. .+ac+ .+abc+ c+.. ..+ .. .+aa .+abc+. .+ac+. ac+. +ac
111 _00111 _000111_ __00001111 0011111__ 11111_ _0 _0000111_ _00111_ _00 _0011_ 00 _0011 0011
+. .abc. .+ab+. . ..+ .++aa ..+ .+aa .+abc+. .+ac+. bc. .ab+
1_ _00111_ 00111_ _00 000011111_ 11111__ 1111__ __0 __000111_ _00111_ _00 _0011_ _00 0011_ _011_
. +ab+. .+ac+. .+abb .++aabbc ..++ .++a .+abc+. .+bc+ b+. .+bc.
_0011_ _0 111_ _0001 011111_ 11__ __ 111__ __0 __0001111_ _00111_ _00 _0011 001 011_ _001_
+ac+ +ac+. .+aabc++ ..+aabbcc++ ..++aa .++a .+abc+ .+bc+ c. .ac+
_0011_ 000 _ _0000111 111__ __0 _ __000 11__ __00 _0000111_ _00111_ _00 0011_ _001 01_ _0011 _
+bc. . b+. .+a ..+abcc+.. aabbcc++.. ...+++aab ..+a .+abc+. .abc. . +. .+b+.
0011_ _0011 _0001111_ __ __0000 __000000 ___ __00 _0000111_ _00111_ _00 _0011_ _001 11 _0011 _0
+bc. +a . .+abc abbc+.. bcc++.. ..+++aaabbb ..+a .+abc+. .ab+. . . +ac.
11_ _00111 000111__ _ __0000011 __000000001 _ ___00 _0000111_ _00111 _00 _0011 0011 1_ 0011 00
+bc. +bc .+abc+. cc+. ++.. +++aaabbbcc ..+a .+abc+. +ab+. + . .+b+
1_ _0011_ _ 0111_ _00 _0000011111 00000001111 ___000 _0000111_ _00111 _00 _011_ _0011 _ _011_ 001
+bc. .+b+. +abc+. .. . . aaabbbcccc+ ..+a .+abc+. +ac+ + +ac.
00111 00 11_ _00001 000111111__ 00011111111 ___0000 __000111_ _0011_ 000 0011_ _011_ _001_ _011
ac. .ab+. .abc+. .++ bbbcccc++++ ..+a .+abc+. .+bc. .+ .+b+
_0011_ _001 _ _0000111 011111__ 111111111__ _____00000 __000111_ _0011_ _001 0011 0011 0011 _011_
c. .ab+ +ac+. ..+aab ...+ ccc+++++... ..+a .+abc+. .abc. .a +ac. .
0011 00011 _0000111__ 111__ __ 1111____ _____0000000 __000111_ 00011_ _001 011_ _001_ _011_ 001_
. .ab+ b+. .+ .++abbcc ..+++aa ++....... ..+a .+abc+ +ab+. +a .+b+ +
011 001_ _0 000111_ _ __000011111 00011111111 _________ 000111111_ _00011_ _ 1_ _0011 _0 0011 _001_
ac. .+bc c+. . ccc++++.... abcc+. .+bc. . +. .+b+. c. +ac.
01_ 001_ _01 00111_ _00 000011111__ 1111111___ __000000000 001111111_ _00111_ _ _ 0011_ _0 001_ 0011 _
c. +ab+. . .+ .. ++.... abcc+. .ab+. . + .ac+ + .ac.
1_ 001_ _011 011_ _0001 0011111__ 1111__ 00000000000 001111111_ _00111 _ _ _0011 00 011 _001_ 0
. .+bc+ .++a ..++ . abcc+. .+ac+. + . +bc. . +b+ .
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