BTC above $80,000
Will the price of Bitcoin be above $80,000 on May 7? 13:22:56 UTC · ↻ refresh · poly ↗⚠ Modest directional bet: BUY Polymarket No
Deribit P(No) ≈ 73.1% vs Polymarket 67.0%. EV ≈ +$0.09 per $1.
Directional bet — BUY Polymarket No (no hedge, accept 100% downside)
Pure directional play. You bet that Deribit's RN-prob is closer to truth than Polymarket's price. Max upside if No resolves true, max loss if No resolves false. EV is computed using Deribit's RN-prob — caveat that RN-prob includes risk premium and may differ from real-world probability by 5-15%.
| Stake | Shares | Net cost (incl 2% fee) | If right | If wrong | EV (Deribit RN) |
|---|---|---|---|---|---|
| $100 | 149 | $102.00 | +$47.25 (47%) | -$102.00 (-100%) | $+7.05 (+7%) |
| $500 | 746 | $510.00 | +$236.27 (47%) | -$510.00 (-100%) | $+35.23 (+7%) |
| $1,000 | 1,493 | $1,020.00 | +$472.54 (47%) | -$1,020.00 (-100%) | $+70.45 (+7%) |
| $5,000 | 7,463 | $5,100.00 | +$2,362.69 (47%) | -$5,100.00 (-100%) | $+352.26 (+7%) |
Polymarket No — best ask $0.670 · Deribit implied P(No) ≈ 73.1% · EV per $1 staked = +$0.090 · Max return 49%. Other side (Yes): EV $-0.230 per $1.
Polymarket book (live)
Deribit hedge (live) bull call spread · width $1,000
A: Long Polymarket Yes + Short Deribit synth Yes
Bet "Polymarket Yes is too cheap". Both legs zero each other if Yes wins; locked profit = Deribit short credit − Polymarket Yes cost.
| Leg | Per binary | Total at $1k | Outcome flag |
|---|---|---|---|
| BUY Polymarket Yes | $0.350 | −$310.08 | 886 shares |
| SELL Deribit synth Yes | $0.221 | +$196.03 | + $689.92 collateral |
| Edge / binary | mid | realistic |
|---|---|---|
| poly cost − deribit credit | $-0.619 | $-0.129 |
| Net P&L per $1k | $-548.75 | $-114.05 |
Expiry payoff at $1k
| BTC at expiry | Polymarket | Deribit | Net |
|---|---|---|---|
| ≤ $80,000 | $0 (Yes loses) | +$196.03 (kept credit) | $-114.05 |
| ≥ $81,000 | +$885.95 (Yes wins) | −$689.92 (max loss) + $196.03 credit | $-114.05 |
| ($80,000, $81,000) | Linear interp; better than both ends thanks to spread tightness | ≥ both ends | |
B: Long Polymarket No + Long Deribit synth Yes — preferred
Bet "Polymarket Yes is too expensive". One leg always pays $1; locked profit = $1 − (Polymarket No cost + Deribit Yes cost).
| Leg | Per binary | Total at $1k | Outcome flag |
|---|---|---|---|
| BUY Polymarket No | $0.670 | −$674.05 | 1,006 shares |
| BUY Deribit synth Yes | $0.324 | −$325.95 | spread debit |
| Edge / binary | mid | realistic |
|---|---|---|
| $1 − (poly_no + deribit_long) | $+0.061 | $+0.006 |
| Net P&L per $1k | $+60.97 | $+6.04 |
Expiry payoff at $1k
| BTC at expiry | Polymarket No | Deribit Yes | Net |
|---|---|---|---|
| ≤ $80,000 | +$1,006.04 | $0 (worthless) | $+6.04 |
| ≥ $81,000 | $0 (No loses) | +$1,006.04 (max) | $+6.04 |
| ($80,000, $81,000) | No expires worthless, Deribit pays partial | ≤ ends (negative carry) | |
Why "delta neutral" is approximate. For TRUE delta-neutrality you need (i) same expiry on both venues (Polymarket 2026-05-07 ≠ Deribit 2026-05-07 — basis risk on the gap), and (ii) tight enough Deribit spreads that synthetic-Yes mid ≈ Polymarket Yes. Excludes Polymarket 2% taker fee (~$20/$1k), gas (~$0.50), Deribit margin haircut.