Markets
ETH86.40BTC94.73 CryptoCrypto
ETH/BTC
Ether (Portal) relative to Coinbase Wrapped BTC
ETH−1.30%BTC leads · 24h−0.80%BTC
Relative performance · indexed to 100
91.21−8.79%1M
Ratio 0.02911 · BTC per ETH
ETH86.40Base
ETH
Ether (Portal)
- Mint
- 7vfC…voxs
- Decimals
- 8
Quote
BTC
Coinbase Wrapped BTCcbBTC
- Mint
- cbbt…iMij
- Decimals
- 8
What this market measures
Tracks ETH performance relative to BTC.
The chart shows relative performance indexed to 100 at the start of the range. This is not the price of an Otus token and not the price of either asset - it is how ETH has done against BTC, which can rise even when both are falling.
The original relative market. Every cycle is a referendum on this ratio.
Why a ratio, not two perps
- One position, one liquidation level
- A long-ETH short-BTC pair built from two perps can be liquidated on a market-wide wick: the long leg blows up before the short leg pays out, even when the view was right. A ratio position only cares whether ETH outperforms; its liquidation level is a ratio level.
- Balanced by construction
- Two legs drift out of balance and need constant rebalancing. A ratio position cannot drift. It is the relationship itself.
- One margin, one fee
- Two legs cost double margin, double fees and double funding. One position halves all three.
- Pairs that exist nowhere else
- Many pairs cannot be assembled from existing perps at all, because one side has no perp market. Tokenized equities and long-tail Solana assets first among them.
- Identifier
- eth-btc
- Listed
- Sep 23, 2026
- Creator
- Unattributed
Trade
ETH outperforms BTC.
Leverage10×
Margin
USDC
USDC- Entry ratio
- 0.02911
- Liquidation ratio
- 0.02620(−10.0%)
- Position size
- 1,000.00
Margin settles to the Otus vault through a Jupiter swap from your wallet. Positions are marked against live ratios.