Delphi Digital just made institutional-grade options data free for everyone. The research firm launched its Delphi Options Dashboard on July 2, pulling together volatility metrics, skew data, dealer gamma walls, and strategy tools across Bitcoin, Ethereum, Solana, and Hyperliquid.

The dashboard aggregates data from five major venues: Deribit, OKX, Bybit, Binance, and Derive.

What the dashboard actually does

Delphi’s dashboard consolidates all of that into a single free interface. It covers four assets: BTC, ETH, SOL, and HYPE (the native token of Hyperliquid, a decentralized derivatives platform).

The tool offers several key features. Volatility data shows how much the market expects prices to move. Skew metrics reveal whether traders are paying more for upside calls or downside puts. Dealer gamma walls identify price levels where market makers have concentrated exposure, creating zones that can act as magnets or barriers for price action.

The strategy builder comes loaded with 13 preset structures. That means traders can quickly model payoff profiles for common strategies like straddles, strangles, spreads, and more complex multi-leg positions without needing to build everything from scratch.

Why this matters now

Crypto options volumes have been on a tear. Delphi Digital’s own research from November 2025 documented record options trading volumes of $185 billion in a single month. A follow-up report in March 2026 noted that CME options volumes had climbed 46% above previous highs.

Those numbers tell a clear story: institutions aren’t just buying and holding crypto anymore. They’re using options for defined-risk hedging, particularly around large BTC positions.

The fact that Delphi included HYPE alongside Bitcoin, Ethereum, and Solana speaks to decentralized options platforms eating into market share. Delphi Digital, founded in 2018, has built its reputation on data-driven analytics and deep research reports in the digital asset space.

What this means for traders and the broader market

Several platforms already offer crypto options analytics, including Laevitas, Greeks.live, and Amberdata. Delphi entering the space with a free product could pressure existing providers to either lower prices or differentiate with more advanced features.

The inclusion of Derive as one of the five data sources is also notable. Derive is a decentralized options protocol, and its presence alongside Deribit and Binance signals that on-chain options volume has grown large enough to be analytically significant.