Cascade Radar

Bybit USDT perpetuals · crypto · $1m+ traded in 24h

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How it works

Loading funding at or below −0.30% a day with open interest up 20% in 24h, or funding at or below −1.5% a day on its own, or a funding print at the cap. Heating funding at or below −0.90% a day, open interest up 50% in 24h, the 24h move between −5% and +15%, no four-hour spike yet. Ignition funding at or below −0.30% a day, open interest up 20% and +15% in four hours, together; an episode opens. Cascade open interest down 10% from its peak inside an open episode. Spent episode closed, 20% below its high or after 48h; shown for 24h, the scanner re-arms after 12h. Cold none of these.

Source: Bybit public API, every two minutes; stages decided by the scanner. Funding a day = the worse of the settled and predicted print × 24 ÷ interval hours; negative means shorts pay longs. Open interest is contracts open, shown in dollars. Measured conditions, not advice.

90-day replay, 547 contracts, 34 ignitions: the ignition print alone had no entry edge (median −12% a day later, two thirds touched −10% before +20%, a quarter ran +20% first); spike-then-shorts carried twice the share of +50% moves; 4 of 153 heatings ignited inside 24h; the open-interest turn was the exit warning that helped.