f(x) Protocol

Live f(x) trader profiles

f(x) Protocol Research

Trader and protocol intelligence hub

This page turns indexed f(x) Protocol positions, cashflows and PnL history into research modules. The UI copies structure patterns from research products: narrative cards, explicit ranking definitions, dense tables and drill-down links — not external branding.

Research brief

What changed in the book?

Capital flow, leverage, liquidation proximity and trader-behavior sections explain what they rank. Opaque composite scores are avoided unless a formula is visible.

7d net flow-$1.57M

Deposits$4.46M

Withdrawals$6.03M

Risk queue700 pos

Research module

Market Structure

Positioning, long/short skew, leverage and entry-price structure across ETH and BTC pools.

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Research module

Capital Flows

Collateral deposits and withdrawals grouped by new wallets, returning wallets, whales and active adders.

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Research module

Whale Activity

Largest wallets and largest exposure changes, separated from performance rankings.

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Research module

Trader Archetypes

Wallet classifications with explicit reasons: whales, swing traders, momentum, mean reversion, degens and survivors.

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Research module

Protocol Health

TVL, OI, long/short ratio, leverage, deposits, active traders, liquidation risk and fees.

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Research module

Liquidation Maps

Debt-ratio headroom and positions closest to the liquidation-risk queue.

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Research Cards

Current signals

Each signal opens a drill-down detail page with a source link to the relevant flow, position, or trader view.

Market StructureETH longs increasing leverage74%ETH long positions show an average debt ratio of 74% across 838 open positions.Liquidation MapsBTC shorts clustering near liquidation levels0 positions0 high-conviction BTC short positions sit within 25% debt-ratio headroom in the conviction sample.Whale ActivityLargest wallet added exposure$2.66M0x36cd…d195 deposited $2.66M into BTC Long.Capital FlowsNet inflows turned positive this week-$1.57M7d net flow is -$1.57M from $4.46M deposits and $6.03M withdrawals.Trader ArchetypesTop trader reversed position$11.09M0xafd8…d27e leads Top PnL at $11.09M. Use the profile timeline to inspect side changes and position adds/removes.Conviction TrackerHighest conviction position$27.58M0x36cd…d195 carries $27.58M BTC long exposure at 3.95× estimated leverage.

Protocol Health

What each metric measures

TVL$74.38MTracked collateral value across currently open f(x) positions.

Open interest$74.25MLong collateral exposure plus short borrowed exposure for open positions.

Long / short ratio99.8% LShare of tracked open interest currently on the long side versus short borrowed exposure.

Average leverage3.34×Open interest divided by current equity. This is a portfolio-level approximation.

Net deposits-$1.57MCollateral deposits minus withdrawals in the selected 7-day research window.

Active traders1,047Distinct wallets currently owning tracked position NFTs.

Liquidation risk700 posPositions at or above 80% debt ratio; this is a risk queue proxy, not a liquidation prediction.

Fee generation$0Open/close fees observed in the current 8h exchange-style UTC window.

Conviction Tracker

Highest Conviction Positions

Ranks open positions by size weighted by debt-ratio pressure. This measures committed exposure, not trader skill.

Wallet	Asset	Direction	Position size	Entry	Leverage	Liq. distance	PnL
0x36cd…d195	BTC	long	$27,584,302	$76,939	3.95×	25.3%	-$5,794,182
0xda71…c13e	BTC	long	$13,371,270	$76,041	3.67×	27.3%	-$2,684,027
0x36cd…d195	BTC	long	$6,177,149	$77,288	3.95×	25.3%	-$1,319,599
0x160c…acd5	BTC	long	$2,426,819	$74,717	2.80×	35.7%	-$452,756
0x37fd…d10e	BTC	long	$1,796,312	$101,552	4.57×	21.9%	-$721,251
0x9bc1…0292

Trader Archetypes

Wallet classifications with reasons

Archetypes are rule-based labels over current exposure, position count, notional, directional bias and liquidation proximity.

Whales

Largest wallets by current notional exposure. This is a size ranking, not a performance score.

Wallet	Metric	Why it belongs here
0x36cd…d195	$33.76M	Current notional ranks near the top of the tracked book; this archetype is size-based, not performance-based.
0xda71…c13e	$13.37M	Current notional ranks near the top of the tracked book; this archetype is size-based, not performance-based.
0x9bc1…0292	$2.56M	Current notional ranks near the top of the tracked book; this archetype is size-based, not performance-based.
0x160c…acd5	$2.43M	Current notional ranks near the top of the tracked book; this archetype is size-based, not performance-based.
0x37fd…d10e	$1.80M	Current notional ranks near the top of the tracked book; this archetype is size-based, not performance-based.

Swing Traders

Wallets with multiple meaningful positions but not extreme churn. This approximates position-cycling behavior.

Wallet	Metric	Why it belongs here
0x7bb0…3fb7

Momentum Traders

Wallets whose current book is strongly one-sided by long/short exposure.

Wallet	Metric	Why it belongs here
0x36cd…d195	$33.76M	More than 80% of current exposure points in one direction, so the wallet is expressing directional momentum rather than balanced inventory.
0xda71…c13e	$13.37M	More than 80% of current exposure points in one direction, so the wallet is expressing directional momentum rather than balanced inventory.
0x9bc1…0292	$2.56M	More than 80% of current exposure points in one direction, so the wallet is expressing directional momentum rather than balanced inventory.
0x160c…acd5	$2.43M	More than 80% of current exposure points in one direction, so the wallet is expressing directional momentum rather than balanced inventory.
0x37fd…d10e	$1.80M	More than 80% of current exposure points in one direction, so the wallet is expressing directional momentum rather than balanced inventory.

Mean Reverters

Wallets carrying offsetting asset or side exposure, often consistent with spread or reversion trades.

Wallet	Metric	Why it belongs here
0x7bb0…3fb7	$53K	The wallet carries offsetting side or asset exposure, which is consistent with spread/mean-reversion behavior.
0x08ce…8d38	$52K	The wallet carries offsetting side or asset exposure, which is consistent with spread/mean-reversion behavior.
0x4102…3a9e	$44K	The wallet carries offsetting side or asset exposure, which is consistent with spread/mean-reversion behavior.
0xb957…a403	$9K	The wallet carries offsetting side or asset exposure, which is consistent with spread/mean-reversion behavior.
0x3f4b…983c	$12K	The wallet carries offsetting side or asset exposure, which is consistent with spread/mean-reversion behavior.

Degens

Wallets nearest liquidation by debt ratio. This measures risk appetite, not profitability.

Wallet	Metric	Why it belongs here
0x82bf…6a75	88.1%	Maximum debt ratio is above 85%; this classification measures liquidation proximity, not skill.
0x9d62…8bb7	85.8%	Maximum debt ratio is above 85%; this classification measures liquidation proximity, not skill.
0x27aa…f3a6	85.8%	Maximum debt ratio is above 85%; this classification measures liquidation proximity, not skill.
0xfef6…4dd8	85.6%	Maximum debt ratio is above 85%; this classification measures liquidation proximity, not skill.
0xbbcd…f2fc	85.2%	Maximum debt ratio is above 85%; this classification measures liquidation proximity, not skill.

Liquidation Survivors

High-risk wallets that remain in non-negative current PnL based on indexed snapshots.

Wallet	Metric	Why it belongs here
0x82bf…6a75	88.1% / $585	High debt ratio with non-negative current PnL indicates the wallet has survived a close-to-liquidation risk state so far.
0x9d62…8bb7	85.8% / $2	High debt ratio with non-negative current PnL indicates the wallet has survived a close-to-liquidation risk state so far.
0x8a97…a977	85.1% / $24	High debt ratio with non-negative current PnL indicates the wallet has survived a close-to-liquidation risk state so far.
0x7bb0…3fb7	82% / $18K	High debt ratio with non-negative current PnL indicates the wallet has survived a close-to-liquidation risk state so far.
0x5d29…2555	81.8% / $0	High debt ratio with non-negative current PnL indicates the wallet has survived a close-to-liquidation risk state so far.