Available Markets

Perpetual futures on the most widely followed crypto indices.

Live Markets

Market	Index	Description	Use Case
BTC.D	Dominance	Bitcoin's % of total market cap	BTC vs altcoin rotation
TOTAL2	Market Cap	Total crypto excluding BTC	Altcoin market direction
OTHERS	Market Cap	Total crypto excluding top 10 assets	Mid/small-cap exposure

All markets trade 24/7/365.

Market Details

BTC.D

Tracks Bitcoin's percentage share of total crypto market cap (0-100%).

BTC.D = BTC Market Cap / TOTAL

Trade thesis: Bitcoin outperformance → Long. Alt season → Short.

TOTAL2

Tracks aggregate market capitalization of all cryptocurrencies except Bitcoin.

TOTAL2 = Σ (Price × Circulating Supply) for top assets, excluding BTC

Trade thesis: Bullish altcoins → Long. Bearish altcoins → Short.

OTHERS

Tracks aggregate market cap excluding the top 10 assets.

OTHERS = Σ (Price × Circulating Supply) for all assets, excluding top 10

Trade thesis: Small-cap rally → Long. Flight to majors → Short.

Roadmap

Paragon creates direct betting and hedging venues for the mental models already front-of-mind for traders and capital allocators. We make buy and sell buttons for these ideas real and actionable.

Future markets under consideration:

Concept	Description
AI Trade	Exposure to the AI narrative across crypto
Treasury Futures	Cash-basis and rates products
Blue Chips	A crypto equivalent to the DJIA
Sector Indices	DeFi, L1s, L2s, Gaming
Dominance	ETH.D and other dominance pairs

→ Contract Specifications | Market Parameters