Basis Points (bps)
1 basis point = 0.01%. We use bps as the canonical unit for funding, basis and premium moves.
100 bps equals 1 percent. Funding rates, basis and premium are quoted in bps because the numbers stay readable across all magnitudes: a +50 bps funding print and a -200 bps basis dislocation sit on the same scale.
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Other terms
Quantum-Exposed Bitcoin Supply
Bitcoin held in outputs whose public key is already visible on-chain, so a large...
P2PK (Pay-to-Public-Key)The original Bitcoin output script that pays directly to a public key; most of i...
BIP-360 (P2MR)A Bitcoin Improvement Proposal for a Merkle-root output type that never puts a p...
Q-DayShorthand for the day a quantum computer can break today's public-key cryptograp...
Post-Quantum Cryptography (PQC)Signature and key-exchange schemes designed to resist quantum computers; NIST fi...
Funding RatePeriodic payment between perpetual futures longs and shorts that keeps the contr...