curl -H "X-API-Key: cdk_live_…" \
"https://cryptodataapi.com/api/v1/market-data/klines?symbol=USDCUSDT&interval=1d&limit=90"Perpetual futures pricing for this coin: the funding rate traders pay to hold a position, total open interest, and how both moved over 24h. Funding is the tether between the perp and spot; positive means longs are paying shorts.
Crypto Funding Rates →Funding is a small fee traders pay each hour to keep a bet open. When it is positive, the people betting the price will RISE are paying the people betting it will fall, which means the crowd is leaning bullish. Negative means the opposite. Open interest is how much money is riding on those bets in total: if it climbs while the price climbs, new money is arriving rather than old bets being closed.
The classic use is the cash-and-carry (basis) trade: hold the coin, short the perp, and collect funding while the two prices stay tied together — a market-neutral yield. Funding-rate arbitrage is the same idea run across venues. In the other direction, traders fade a crowded-long setup when funding is very positive but the price has stopped rising, and watch OI-price divergence: rising open interest on a falling price means shorts are piling in.
Design a new trading strategy for USDC built on perp funding and open interest. Read the live signal from /api/v1/derivatives/summary?coin=USDC. Invent the rules yourself — do not just reimplement carry — and write out entry, exit, position sizing and the single assumption the edge depends on. Then validate it on /api/v1/backtesting/funding?symbol=USDC plus /api/v1/backtesting/klines, with taker fees charged both sides. If it does not beat buy-and-hold, say so and explain why.Hourly funding and open-interest history comes from /backtesting/funding?symbol=X, going back to May 2023 for Hyperliquid perps. Pair it with /backtesting/klines for matching price bars so funding lines up with the candle it was charged on. Note that open interest is only populated for Hyperliquid — Binance rows carry null.
Using CryptoDataAPI, backtest a funding-carry trade on USDC. Pull hourly funding from /api/v1/backtesting/funding?symbol=USDC and matching price bars from /api/v1/backtesting/klines. Simulate holding spot and shorting the perp whenever annualised funding is above 10%, exiting when it drops below 0. Charge taker fees both sides. Report net return after fees and funding, max drawdown, and how much of the return came from funding versus price. Tell me if the edge disappears after costs.curl -H "X-API-Key: cdk_live_…" "https://cryptodataapi.com/api/v1/derivatives/summary?coin=USDC"Peg stability and supply for this stablecoin: how far it has drifted from its target and how the float has changed.
Market Sentiment →This coin is designed to stay worth about $1. Small wobbles are completely normal. The warning sign is a gap that stays open, especially if the total supply is shrinking at the same time — that suggests people are cashing out rather than trading.
Depeg arbitrage is the direct trade: buy below the peg and redeem at par, which is how the peg gets restored. More broadly, the stablecoin supply ratio (SSR) treats stablecoin float as dry powder — a growing supply is buying power waiting on the sidelines, which is why it is watched as a market-wide indicator.
Design a new strategy that uses USDC supply and peg data as its signal, read live from /api/v1/sentiment/stablecoins. Decide whether you are trading USDC itself on peg deviation or trading the wider market on supply growth, and justify the choice. Define entry, exit and risk limits. Validate on /api/v1/backtesting/snapshots?data_type=stablecoins plus /api/v1/backtesting/klines.Supply and peg history live in /backtesting/snapshots?data_type=stablecoins, with a matching stablecoins block in the daily bundle. Use it to test supply growth as a market-wide dry-powder signal, not just this one coin's peg.
Using CryptoDataAPI, test USDC's peg stability and its supply as a market signal. Pull /api/v1/backtesting/snapshots?data_type=stablecoins for USDC supply and peg history, plus BTC daily bars from /api/v1/backtesting/klines. First, measure how often USDC deviated more than 0.5% from $1 and how long each episode lasted. Then compare forward 30d BTC returns following the fastest and slowest deciles of USDC supply growth. Report whether either relationship is strong enough to trade.curl -H "X-API-Key: cdk_live_…" "https://cryptodataapi.com/api/v1/on-chain/exchange-flows/USDC"Net movement of this coin on and off centralised exchanges, across every chain we index. Coins moving ONTO an exchange are being positioned to sell; coins moving OFF are going to self-custody or staking.
Exchange Flows & Liquidations →Coins moving ONTO an exchange usually means someone is getting ready to sell them. Coins moving OFF usually means they are being held for longer. One large move in a single hour is often just one person shuffling funds; the same direction repeating over days is the signal worth acting on.
Exchange netflow is a well-known on-chain indicator: sustained outflows shrink the supply available to sell and tend to precede strength, while sustained inflows do the opposite. Reserve depletion strategies take positions when exchange balances fall to multi-year lows. It is a slow signal — better for framing a position over weeks than for timing an entry.
Design a new swing strategy for USDC driven by exchange flows from /api/v1/on-chain/exchange-flows/USDC. This is a slow signal, so define a holding period in days or weeks and say what invalidates the trade rather than using a tight stop. Validate against the exchange_flows block of /api/v1/backtesting/daily-snapshots/{date} plus daily bars from /api/v1/backtesting/klines, and report whether the signal survives transaction costs.Exchange flows are archived per chain in the exchange_flows block of /backtesting/daily-snapshots/{date}. It is a daily series rather than intraday, which suits the signal — netflow is a multi-day read, not an entry trigger.
Using CryptoDataAPI, test exchange netflow as a signal for USDC. Pull the exchange_flows block from /api/v1/backtesting/daily-snapshots/{date} across the archive and daily price bars from /api/v1/backtesting/klines. Compare forward 7d and 30d returns after sustained net outflows versus sustained net inflows. Report whether the difference is large enough to trade after costs.curl -H "X-API-Key: cdk_live_…" "https://cryptodataapi.com/api/v1/on-chain/exchange-flows/USDC"
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