NET STABLECOIN LIQUIDITY BY CHAIN
INFLOW LEADERS
OUTFLOW LEADERS
SHARE SHIFT 7D bp of total stablecoin supply
STABLECOIN MOVEMENT MATRIX - CHAIN x ASSET cell = net change in USD at current price
CANONICAL L2 BRIDGE ESCROWS ON ETHEREUM L1
ESCROW NET FLOW
ON-CHAIN STABLECOIN SUPPLY (totalSupply via free RPC)
CHAIN DETAIL
STABLECOIN SUPPLY - 1Y USD
DAILY NET STABLECOIN FLOW - 90D USD
TVL - 1Y USD
DEX VOLUME - 90D USD / day
ASSETS ON CHAIN
WHERE THE LIQUIDITY IS FLOWING - SOURCES → DESTINATIONS stablecoin net flow by chain; ribbons are proportional attribution, not traced transfers
CATEGORY ROTATION TVL change by protocol category, all chains
STABLECOIN SINKS balanceOf via free RPC
WHERE THE REDEMPTIONS GO gross stablecoin supply decrease, attributed
REDEEMED ASSETS AND WHERE THEY BURNED
ISSUER MECHANICS - ETHEREUM free RPC
PROTOCOL DESTINATIONS - TVL INFLOWS
PROTOCOL DESTINATIONS - TVL OUTFLOWS
TOTAL LIQUIDITY OVER TIME
TOTAL STABLECOIN SUPPLY - ALL CHAINS USD
NET ISSUANCE / REDEMPTION daily net change
30-DAY ROLLING NET ISSUANCE USD
TOTAL DEFI TVL - ALL CHAINS USD
Stablecoin supply = circulating USD value of every stablecoin DefiLlama tracks, summed across all chains, daily. Net issuance = day-over-day change (mints minus burns, plus price effects on non-USD pegs). TVL from DefiLlama, all chains.
MARKET LIQUIDITY
HOW TO READ THIS WINDOW
- Liquidity is how much you can buy or sell before the price moves against you. Big resting orders near the price = liquid. Few orders = thin.
- Money near the price adds up every buy and sell order within 2% of the current price on five exchanges. Watch its direction: falling liquidity usually comes before big price moves.
- Cost to trade $1M is what a $1M market order loses to price movement while it fills. Under $1,000 (0.1%) is cheap; over $5,000 (0.5%) is costly; "cannot fill" means the visible orders are smaller than $1M.
- On-chain vs exchange compares the same $1M trade on a decentralised exchange route. A large gap means on-chain traders pay much more than exchange traders.
- Leveraged bets open (perp open interest) is money borrowed to bet. When it is many times the money near the price, a forced unwind moves prices a lot.
- Who is paying to hold comes from perp funding: when longs pay, most traders are positioned long and the trade is crowded.
- The verdict at the top combines these: HEALTHY (cheap to trade, books full), NORMAL, FRAGILE (thin books or liquidity being pulled), STRESSED (even BTC and ETH are expensive to trade).
- All readings come from public order books, which market makers can pull in seconds. Trust the trend over any single number.
LIQUIDITY LADDER biggest book first. Click a coin.
BTC IN DETAIL 5-minute readings
MONEY WAITING TO BUY vs SELL within 2% of price
GAP BETWEEN BEST BUYER AND SELLER spread, bp
LEVERAGED BETS OPEN perp open interest, USD
ALL 20 COINS: MONEY NEAR THE PRICE USD
WHERE THE LIQUIDITY SITS per exchange, money within 2% of price
Some exchanges publish only part of their order book (Bybit shows 200 price levels), so their bar understates what they hold.
SAME TRADE ON-CHAIN swap $1M USDC into the chain's coin
Best route from an aggregator (ParaSwap on EVM chains, Jupiter on Solana). "Lost" = how much less you receive than the mid price implies. Longer bar = more expensive chain to trade size on. Keyless HTTP quotes, no RPC.
PERP FLOW: WHERE NEW MONEY IS ENTERING BINANCE PERPETUALS
HOW TO READ THIS WINDOW
- Open interest (OI) is the dollar value of perp positions open. It only rises when new money enters, so OI up with volume up is the cleanest sign of liquidity flowing into a token.
- Volume vs norm compares the last 4 hours with the pair's own average hour over 7 days. 1.0x = normal, 3x = three times its usual activity.
- Taker buy share is the part of aggressive volume that hit the ask. Above 55% buyers are chasing; below 45% sellers are.
- Funding is what longs pay shorts every 8 hours (negative = shorts pay). L/S is accounts long per account short.
- Signals: INFLOW (OI +3% in 4 h and volume 1.5x), building, unwinding, OUTFLOW (OI -3%), volume surge (price-only pairs). The side says who is entering, from price and taker share.
- Pairs marked px have price and volume only; the ~70 pairs THEMIS keeps in band have the full set. Readings every 15 minutes; alerts go to Telegram when a pair newly shows INFLOW with a high score.
BTC PERP IN DETAIL hourly, 200-hour window, from the shared feed
PRICE 200 hours
HOURLY VOLUME USD, 200 hours
OPEN INTEREST USD, 200 hours
TAKER BUY SHARE 200 hours
FUNDING per 8 h, 200 hours
LONG / SHORT RATIO 200 hours
All six charts share one 200-hour window. The shared feed carries 48 h of open interest and 24 h of taker and long/short data per pair; the collector keeps every hourly point it sees, so those charts fill the window within about eight days of a pair being tracked.
SIGNAL HISTORY 15-minute readings, last 6 hours
BACKTEST: DOES HOURLY VOLUME REFLECT PRICE? all Binance perps, hour by hour
HOW THIS WAS MEASURED
- For every pair and every hour: volume surge = that hour's volume is at least 2x the median of the previous 72 hours. Big move = the hour's return is at least 2 standard deviations of the previous 72 hourly returns. Both are measured against the pair's own recent normal, so a quiet coin and BTC are judged the same way.
- Same hour: when a big move happens, how often is volume surging in that same hour, and the reverse. The baseline is how often each happens in any random hour; lift = how many times more likely than that.
- Who moves first: a surge in a quiet-price hour, then does a big move follow in the next hour / within 4 hours? And a big move on normal volume, then does a surge follow? Compared with hours where nothing happened. The correlation ladder shows the same thing by lag: bars on the "volume earlier" side mean volume tends to arrive before price.
- Direction: after a surge with price up (or down), how often does the next hour and next 4 hours keep going the same way? 50% = coin flip. Also: do big moves confirmed by volume continue more than big moves on thin volume?
- 3 YEARS = hourly klines of every Binance USDT-M perpetual in Binance's free public archive (data.binance.vision), including delisted contracts, 36 months plus the current month; stored on Main once and refreshed from the archive, no API key and no Binance API calls. PERP FEED = THEMIS's shared Binance-perp feed, 200 hours per pair, growing daily as the collector stores hours. THEMIS 31D = THEMIS's stored 1-hour klines, about 31 days per pair to 20 Oct (Binance futures to 2 Oct, Binance spot mirror after). Prices match across sources, only volume levels differ, and every ratio is computed inside its own source.