Common questions about SYNTH, Greeks, pricing, and trading
SYNTH is a professional options pricing and edge detection tool for Hyperliquid perpetual trading. It combines Black-Scholes Greeks calculations, fair value detection, and cascade-aware risk analysis.
Category: Getting Started
No, SYNTH is an analytics and decision support tool. You input parameters, view calculations, and make trading decisions. Actual trading happens on Hyperliquid or other exchanges.
Category: Getting Started
No. SYNTH works entirely in-browser with public market data. No authentication or wallet connection required.
Category: Getting Started
In perp markets, liquidation cascades create non-normal distributions. Put values increase dramatically near liquidation levels because liquidations create buyback pressure. Cascade-adjusted Greeks account for this.
Category: Greeks & Pricing
Delta = sensitivity to price moves. A delta of 0.50 means the option price changes $0.50 for every $1 move in the underlying. Calls have positive delta, puts have negative delta.
Category: Greeks & Pricing
Very. Gamma measures how fast delta changes. High gamma = risky but profitable if you're right. Low gamma = stable. Gamma is highest at-the-money and increases as expiration approaches.
Category: Greeks & Pricing
IV (implied vol) = market's expectation of future volatility. RV (realized vol) = actual volatility that happened. If IV > RV, sell premium. If IV < RV, buy premium.
Category: Greeks & Pricing
Set the strike, expiry, and IV. Enter the market price you see. If mispricing % is high (>10%), that's an edge. Positive % = overpriced (sell), Negative % = underpriced (buy).
Category: Fair Value & Edges
Fair value is based on Black-Scholes, which assumes log-normal distribution and constant volatility. Markets are not perfectly log-normal, so use it as a reference, not gospel.
Category: Fair Value & Edges
We recommend >70% confidence for real trades. Below 60% is noise. Between 60-70%, use smaller position sizes.
Category: Fair Value & Edges
Bullish: Bull call spread (defined risk, limited profit) or Bull put spread (collect premium if confident). Bull call spread is safer.
Category: Strategies
Neutral: Iron condor (wide range, maximum theta), iron butterfly (tight range, high probability), or calendar spread (time decay).
Category: Strategies
Spreads reduce cost (buy call + sell higher call = less capital). They also define your max loss upfront, making risk management easier.
Category: Strategies
Never risk more than 2% of your account on a single trade. This prevents account blowups. If account = $10k, max loss per trade = $200.
Category: Risk Management
Keep margin usage below 50% at entry. This leaves room for adverse moves without liquidation. Never use 100% margin on directional plays.
Category: Risk Management
Kelly = (Win% × Edge% - Loss% × (1 - Win%)) / Odds. Use it ONLY if you have >55% win rate. Otherwise, use fixed 2% rule.
Category: Risk Management
CoinGecko (crypto), AlphaVantage (stocks). These are real-time public APIs. Greeks calculations are mathematical, not historical.
Category: Data & Accuracy
Real: Prices from CoinGecko/AlphaVantage. Demo: Greeks, fair value, edges use realistic models but should be validated against actual markets.
Category: Data & Accuracy
Yes, after HIP-3 integration. Then we'll have live perp mark prices, liquidation levels, and funding rates.
Category: Data & Accuracy
Different brokers use slightly different vol models and interest rates. Small differences are normal. Large differences = check your inputs.
Category: Troubleshooting
That's actually common! Steep backwardation = high near-term vol. Flat curve = no volatility expectation. Use it to pick calendar spread strikes.
Category: Troubleshooting
Not yet. Currently SYNTH is stateless. You can screenshot or export data manually. Saved portfolios coming post-hackathon.
Category: Troubleshooting
Check the How to Use guide for step-by-step tutorials.
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