How DOPE Works
Real-time perpetuals market intelligence that helps you see what the whales see. Learn how our platform detects price divergence and order flow patterns across exchanges.
Getting Started
Quick start guide to the platform
Lead-Lag Patterns
Price divergence detection
Signals
Sweeps & absorptions
Understanding DOPE
DOPE (Depth of Perpetuals Engine) is a real-time market intelligence platform that monitors price movements and order flow across multiple cryptocurrency exchanges simultaneously. By analyzing lead-lag patterns and order book depth, DOPE identifies opportunities before they become obvious to the broader market.
Multi-Venue Price Comparison
DOPE connects to multiple exchanges including Binance, Bybit, OKX, and Hyperliquidto provide real-time price comparison. When prices diverge between venues, it often indicates an arbitrage opportunity or an impending price movement.
How It Works
- DOPE establishes WebSocket connections to each exchange's public data feeds
- Real-time order book and trade data is collected and normalized
- Prices are compared across venues to detect divergence
- When divergence exceeds thresholds, lead-lag events are triggered
Lead-Lag Pattern Detection
One of DOPE's core features is detecting lead-lag patterns — situations where a price movement on one exchange (the leader) is followed by a similar movement on another exchange (the follower) within milliseconds to seconds.
Key Metrics
Jump Detection
Lag Time
Magnitude Ratio
Basis Points (bps)
Learn more about lead-lag pattern detection in our detailed guide.
Order Book Depth Analysis
DOPE analyzes order book depthto understand market liquidity and potential price support/resistance levels. Depth metrics show how much volume exists within specific price ranges (measured in basis points).
Depth Metrics Explained
Depth Bid/Ask (1bps)
Total order book volume within 1 basis point of the best bid/ask price. Higher depth indicates stronger support/resistance.
Imbalance (2bps)
Ratio of bid to ask volume within 2 basis points. Values above 0.5 indicate more buy pressure, below 0.5 indicates sell pressure.
Buy/Sell Burst Z
Z-score measuring trading volume bursts relative to baseline. High positive values indicate unusual buying/selling activity.
Sweeps & Absorptions
DOPE's signal enginedetects two critical order flow patterns: sweeps and absorptions. These patterns often precede significant price movements.
Sweeps (Swp↑/Swp↓)
A sweep occurs when a large order "sweeps" through multiple price levels in the order book, clearing liquidity and often indicating strong directional intent.
Absorptions (Abs↑/Abs↓)
An absorption happens when large orders are placed but quickly absorbed by the order book without significant price movement, indicating hidden liquidity.
Note: Currently, signals are available for Binance Perpetuals only. More exchanges coming soon.