Insilico Terminal Podcast

Insilico Terminal

Dive into the fast-paced world of cryptocurrency trading with the Insilico Terminal Podcast, the ultimate audio companion for traders of all levels. Hosted by the team behind Insilico Terminal - the high-performance, user-friendly platform. We bring you expert insights, market analysis, and behind-the-scenes stories straight from the crypto trenches.

Each episode features in-depth discussions on trading-strategies, execution tips, emerging trends in crypto, and exclusive interviews with top traders, builders, and industry innovators. Tune in for actionable advice, real-time market breakdowns, and the latest updates on Terminal's advanced features.

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29 episodes
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Avg 1 hr 3 min
English

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#57
Thursday · 1 hr 19 min· Video
Knot on front-running FTX's leveraged token rebalances
Knot, one of the engineers behind Insilico Terminal, joins Sokio to talk about how a degree in jazz performance and coding audio plugins turned into a career building trading systems. A TradFi systems trader told him "TA is astrology for men", so he went into arbitrage instead, running fat-finger and new-listing loops across exchanges when crypto still felt like easy mode. We get into the FTX leveraged-token trade he ran for about a year and a half: working out how much each daily rebalance had to buy or sell against the market's open interest, scraping FTX's token pages into Excel with VBA, and executing by hand. Then the Australian funds he ran funding-rate trades for, why he tried to short FTX's own USD collateral token, and what happened to the fund that thought FTX was too big to fail. Plus: shorting UST during Terra/Luna, modelling stablecoin depeg options at Y2K Finance, why he left DeFi for Insilico Terminal, what he's building there now, and why he thinks ego holds back talented people in this space. 00:00 Intro: going from jazz to code 07:52 Why he started with arbitrage, not TA 12:01 Fat-finger arbitrage, new-listing spreads 21:28 Frontrunning FTX leveraged token rebalances 38:21 Selling funding trades to Australian funds 48:00 Calling the FTX collapse 56:39 Shorting UST, depeg models at Y2K Finance 1:02:17 Why Insilico Terminal, what he's building 1:12:35 Final advice: drop the ego
#56
October 22 · 1 hr 15 min· Video
Nelly on going from zero perp trades to scalping Bitcoin full-time
Nelly joins Sokio to talk about going from on-chain trading to scalping Bitcoin perps. After a heavy loss around the April 2025 tariff selloff, he joined a trading group having never taken a perp trade, put in 14 to 16 hour days, and by November had a VWAP rotational system that worked, first in Asia and then in New York. We get into how he trades the VWAP bands, why Asia is price action and ticks while New York is order flow, a failed-continuation setup he explains with a joke nobody high-fives, and why he trades without hard stops and sizes into trades that are still moving against him. Plus: getting caught when ranges break, right idea with the wrong timing, going from 20 trades a day to fewer with more size, market orders and fees, running three accounts, staying up to trade London, weekends and the Sunday futures open, and why he says there is nothing special about him beyond the reps. 00:00 Intro and going from on-chain to perps 09:22 Building a VWAP system around Bitcoin 15:27 Sticking with it until it clicked 22:26 How Asia and New York trade differently 30:07 Failed continuation, wide stops and trend days 41:23 Early mistakes and getting the timing right 49:20 Work-life balance and the London session 58:37 Weekends and the Sunday futures open 01:02:10 Execution, fees and scaling into size 01:11:22 Final advice on hard work and reps
#55
October 15 · 29 min· Video
Follow the incentives: FlowTrader on trading Trump headlines, oil and Iran
FlowTrader sits down with Sokio in the studio for an IRL episode on trading a market that moves on headlines. Nine years in, from crypto-miner stocks in 2017–18 to high-leverage perps, he now keeps trades to three to five days and avoids holding exposure over the weekend. We get into his macro framework and why debasement made gold one of his best trades, Bitcoin as an overflow bucket for excess capital, rising yields against the AI build-out, and why he reads every Trump headline for its incentive rather than its content. On oil, he explains why he doesn't buy reports of Hormuz flows nearing pre-war levels, and why refined products and diesel are the real constraint. The second half looks at the Iran war on purely economic terms: decentralised command, China's incentives, Syria as the early signal, trade routes, and a 2009 Brookings options paper he says reads differently in hindsight. We close on why he thinks Bitcoin is now an institutional asset tied to America's success. 00:00 Intro and Flow's path into trading 02:14 Short-term trades, the macro framework and gold 05:11 What Bitcoin is right now 06:42 Rising yields, the AI build-out and the wall of worry 10:12 Headline trading and the oil math 14:55 Who has the upper hand in the Iran war 18:29 Syria, trade routes and US strategy 23:38 The "leave it to Bibi" playbook 25:38 Bitcoin is a bet on America
#54
October 1 · 58 min· Video
Kieran Duff on building a one-person systematic trading desk
Kieran Duff, systematic portfolio manager and Head of UK Growth at Darwinex, joins Sokio to talk about running a multi-strategy book across FX, metals and indices, built and managed on his own. We get into why he quit discretionary trading, how he turns any idea into a backtest (including a Friday-red, Monday-long S&P system he dropped because it had no capacity), what BOJ intervention did to a long-running USD/JPY breakout strategy, and the incubator and governor layer that decide which trades actually reach the market. Plus: moving everything to market orders with spread and slippage filters, how Darwinex works, splitting orders to raise capacity, CFDs vs futures and A/B-book brokers, his one-loss-a-day rule, and why new traders should let the data build the thesis. 00:00 Intro and his path into trading 08:41 Why he went fully systematic 18:33 Regime change and a USD/JPY breakout 23:30 The incubator and the governor layer 30:01 Execution filters and raising capital 38:26 Scaling capacity with futures and order splitting 43:49 CFDs, futures and A/B-book brokers 48:50 Correlation limits and one loss a day 53:38 Advice for new systematic traders
#53
September 24 · 1 hr 3 min· Video
Finding the Trades Institutions Won't Touch | DegentradingLSD
DegentradingLSD joins Sokio to talk about going from options market making in TradFi to trading crypto, starting with a flat Deribit vol surface and the GBTC discount during the Genesis unwind. We get into why keeping money is harder than making it, how much cash to hold, and why half or quarter Kelly is easier to live with than full Kelly. He explains why he thinks retail's edge sits in trades institutions can't or won't take, why crypto has stopped moving as one market, how he reads rate hikes against the AI capex boom, and why the same ticker on two venues isn't always the same trade. Plus: private inference and privacy, Zcash's locked-up supply, where perp DEXs and crypto options go from here, and his outlook into the midterms. 00:00 Intro and Finding an Edge in Crypto 08:21 The GBTC Discount Trade 15:33 Keeping Cash and Managing Risk 19:42 Why Crypto Isn’t Moving Together 26:15 Rates, Liquidity and the AI Trade 35:26 Equity Perps and Choosing Your Venue 42:19 The AI Race and Privacy 47:08 Zcash, Supply and Crypto Narratives 53:11 Perp DEXs and Crypto Options 01:00:01 Market Outlook Into the Midterms
#52
September 17 · 1 hr· Video
Why Even Quant Traders Need Discretion | QuantXBT
QuantXBT joins Sokio to discuss building a crypto HFT business, finding his first BitMEX–Binance arbitrage, and why JavaScript wasn't the bottleneck people expected. We cover shrinking edges, the move toward mid-frequency trading, exchange risk, collecting market data, and the role of discretion in automated systems. He also explains why forced trading creates opportunities and why being right about an asset isn't enough to make money trading it. 00:00 Intro and Early Crypto Trading 05:55 Finding the First Arbitrage Edge 11:31 Running HFT in JavaScript 19:17 Finding Edge Across Exchanges 25:19 Consistent Returns and Hidden Risks 33:53 Research, Automation and In-House Data 38:14 Quant vs. Discretionary Trading 45:29 Volatility, Forced Trading and Finding Edge 51:33 Bitcoin Conviction and Why Altcoins Fail
#51
September 10 · 1 hr 5 min· Video
From crypto arbitrage to AI: finding edge with iArbpairs
Arb joins Sokio to explain how reading the details led him to a Tari arbitrage and a series of oil trades on Hyperliquid. The conversation moves from finding temporary market inefficiencies and knowing when to walk away to using AI for data collection, research, and building trading systems. He also shares his case for owning compute, why systems thinking matters, and the opportunities he sees for small teams. 00:00 Introducing Arb and his first crypto arbitrage 09:25 Oil perps: trading the market rules 16:43 Bitcoin, hardware and the AI opportunity 26:40 Where AI value accrues 33:26 Why small teams can move faster 39:08 AI for trading research and automation 45:51 How to think in systems 51:07 Manual trading and AI-built systems 55:38 AI workflows and what changes next
#50
September 3 · 1 hr 19 min· Video
How Trader Morin built a repeatable edge after 18 months at breakeven
Trader Morin turned more than 18 months at breakeven into a repeatable trading process built around ranges, mean reversion, order flow and strict risk management. He explains how he plans trades days in advance, builds price-action and footprint execution playbooks, sizes positions using confluence, and distinguishes reaccumulation from redistribution. We also discuss surviving the unprofitable years, handling FOMO, reviewing trading data, using leverage responsibly and why Morin deliberately reduces risk after a major winner. 00:00 First blow-up and playing the long game 08:05 Why Morin focused on BTC and ETH 18:07 Building conviction, trade plans and playbooks 25:27 Surviving 18 months at breakeven 35:00 Turning discretionary trading into a system 41:00 Range trading and footprint execution 48:39 Reaccumulation vs redistribution 58:16 Leverage, risk and reviewing the data 01:08:56 Teaching, monetization and staying grounded
#49
August 27 · 1 hr 23 min· Video
Cryptopia, FTX and the hunt for overlooked edge - Beniduboss
Benoit Dubosson, better known as Beni the Boss, joins the Insilico Terminal Podcast for his first interview about crypto. He explains how he built a trading career around markets other people ignored—from Cryptopia arbitrage and onchain deposit signals to FTX funding trades, the Luna collapse, TradeOgre market making, and strange dislocations across CFD brokers and fintech apps. Beni also talks about counterparty risk, the mental cost of trading your own money, why he eventually left crypto, the role of luck in success, and why beginners should spend far more time researching than trading. 00:00 From online poker to early crypto arbitrage 13:55 What trading crypto was really like in 2017 22:42 Finding edge where others do not look 31:09 FTX trades and the Luna collapse 41:44 Market making Monero on TradeOgre 50:47 The mental cost of trading 01:00:04 Advice for new crypto traders 01:09:07 Networking, luck and when not to trade
#48
August 20 · 46 min· Video
Trading Everything on Hyperliquid | Perps.fun Co-Founder Parker
Parker, co-founder of perps.fun, joins the Insilico Terminal Podcast to discuss building the first HIP-3 launchpad and opening Hyperliquid market creation to teams outside the existing deployer structure. We cover why perps.fun pivoted from building a trading terminal, how new markets are vetted, fee sharing and market ownership, exotic and long-tail perps, sourcing liquidity, oracle and funding design, the Kinetiq partnership, and why permissionless perp creation comes with serious risks. We also get into the wider Hyperliquid ecosystem: HIP-3 market concentration, HIP-4, regulation, institutional adoption, Trade XYZ, competition between DEXs, and the long-term vision of being able to trade wherever the volatility goes. 00:00 What is perps.fun? The first HIP-3 launchpad 05:15 What kinds of markets will launch? 10:17 The perps.fun fee-sharing model 15:10 Why official brands and indices matter 19:24 Building safe markets: liquidity, oracles & funding 25:03 The Kinetiq partnership and HIP-3 economics 30:30 Where Hyperliquid stands today 35:32 Regulation, institutions & the “gray market” 39:38 Hyperliquid vs other DEXs & trading everything
#47
August 13 · 51 min· Video
HypeTrader on million-dollar drawdowns and rebuilding his edge
HypeTrader, also known as @MomentumKevin, joins Sokio to talk about the wins, losses and mindset shifts behind his journey as a high-volume Hyperliquid trader. Kevin traces his path from buying the 2013 Bitcoin top and trading the 2017 altcoin cycle to BitMEX liquidations, NFTs and eventually HYPE. He speaks openly about million-dollar drawdowns, losing most of two years of trading P&L, and why he is now sizing down and focusing on more repeatable intraday trades. They also discuss trading stock perps on Hyperliquid, sentiment and order flow, execution costs, competing perp DEXs, the future of HYPE and whether Hyperliquid can become the home for every financial market. 00:00 Buying HYPE at TGE 05:56 From the 2013 BTC top to the 2017 altcoin boom 14:26 Getting liquidated on BitMEX 22:15 Losing two years of P&L on HYPE 29:37 Making money during the 10/10 crash 34:19 Trading stocks, sentiment and order flow 37:56 Can rival perp DEXs compete? 43:19 Why he is still bullish on Hyperliquid 47:35 Tokenized stocks and Hyperliquid’s endgame
#46
August 6 · 59 min· Video
StonkTrump on options flow, crowded trades and buying market fear
Stonk Trump joins the Insilico Terminal Podcast to explain how he uses institutional positioning, options flow and technical analysis to find swing trades across equities and options. We discuss why the worst headlines often arrive near market bottoms, how he structures longer-dated calls and takes profit, and why good earnings cannot save a trade that everyone already owns. He also breaks down the semiconductor unwind, what crypto traders can bring to TradFi, and why he is waiting for better Bitcoin opportunities into the fall. 00:00 From crypto to options 06:30 Meme stocks, silver and early trading lessons 14:07 Reading institutional positioning at market extremes 24:22 Finding stocks through options flow 32:50 Why TradFi beats onchain complexity 38:10 What crypto traders can learn from equities 42:18 The AI bull case and the next market correction 50:04 When a trade becomes too crowded 55:25 Bitcoin’s setup into the fall
#45
July 30 · 1 hr· Video
Felix Jauvin - Macro, AI & why crypto looks underowned
Felix Jauvin, Head of Content at Blockworks and host of Forward Guidance, joins the Insilico Terminal Podcast to talk macro, crypto, AI and the current market setup. We get into why macro has become harder to apply to Bitcoin, which economic signals actually matter for traders, how Felix structures his own portfolio, the risks around Saylor and Strategy, and why he thinks much of the easy money in the AI trade may already have been made. Felix also explains why he’s becoming more constructive on crypto again, how the CLARITY Act could become an important catalyst, what stablecoins actually mean for US debt demand, and where he sees opportunity across perps, prediction markets and new token models. 00:00 Felix Jauvin, Forward Guidance & His Trading Background 07:30 Why Macro Has Become Harder to Trade in Crypto 15:34 The Macro Data That Actually Matters for Bitcoin 23:13 American Exceptionalism, Europe & Global Markets 31:12 Saylor Risk, Quantum FUD & Fading Bearish Catalysts 36:01 Is the AI Trade Over? Capital Rotating Back to Crypto 40:01 The CLARITY Act Could Be Crypto’s Next Major Catalyst 48:38 Stablecoins, US Debt & Financial Repression 55:14 The New Fed Regime & What Could Drive the Next Crypto Cycle
#44
July 23 · 1 hr· Video
Hyperliquid's Next Chapter - Omnia on Kinetiq, HIP-3 & the House of All Finance
Omnia joins the Insilico Terminal Podcast to discuss his path from NFT market making and crypto investing to building Kinetiq, the largest protocol on Hyperliquid. We cover what convinced him to bet on Hyperliquid early, how HyperBFT and HyperEVM work, what K-HYPE offers holders, and how Markets by Kinetiq is approaching HIP-3 markets. We also discuss the challenges of building inside the Hyperliquid ecosystem, the future of perp DEX competition, crypto tribalism, institutional adoption, and what it would take for Hyperliquid to become the house of all finance. 00:00 NFT Market Making & Omnia’s Crypto Origin 07:05 From Hedge Fund Analyst to DeFi Builder 14:25 HyperBFT, HyperEVM & Hyperliquid’s Technical Edge 21:07 What Kinetiq Actually Does 28:13 K-HYPE for Traders vs Native Staking 35:07 Why Building on Hyperliquid Is So Difficult 41:15 Can Hyperliquid Become the House of All Finance? 48:58 Hyperliquid as an Existential Risk for Crypto 55:55 Perp DEX Competition & Hyperliquid’s Shrinking Moat
#43
July 16 · 1 hr· Video
Block Scholes: Crypto Derivatives, Prediction Markets, and Why Institutions Are Still Here
Andrew from Block Scholes joins the Insilico Terminal Podcast to talk about crypto derivatives, options data, volatility surfaces, prediction markets, AI market makers, and why institutions are still building in crypto despite the bear market. We covered what Block Scholes does, how their data is used by exchanges, market makers, banks, and DeFi teams, why prediction markets are basically retail-friendly options, how volatility surfaces help price markets that don’t exist yet, and what changes when AI tooling makes it easier for anyone to build trading bots. We also talked about the current state of crypto, why headline prices don’t tell the full story, how institutional interest has changed, why real projects keep building through bear markets, and what regulation could mean for long-term adoption. 00:00 What Block Scholes Does 05:40 Data, Oracles & Crypto Derivatives 12:16 Prediction Markets Are Actually Options 16:03 Volatility Surfaces Explained Simply 23:29 How Retail Can Use Institutional Data 27:40 AI Market Makers & Trading Bots 30:20 Will AI Make Markets Efficient? 38:59 Why Institutions Are Still Building 48:05 The Future of Prediction Markets 55:59 Crypto Regulation & Long-Term Adoption
#42
July 9 · 54 min· Video
HackermanAce: Finding Edges with Ichimoku, Options, and On-Chain Trading
HackermanAce joins the Insilico Terminal Podcast to talk about Ichimoku trading, finding a real system, crypto options, volatility, hedging, on-chain venues, LPing memecoins, Solana, Hyperliquid, and where the next cycle could come from. We covered how Ace went from early crypto mistakes to full-time trading, why he built his style around Ichimoku Cloud setups, why day trading burns people out, how crypto traders can start learning options, when options make more sense than perps, why hedging is underrated, and how LPing memecoins can work almost like an options strategy. 00:00 Ace’s Crypto Origin Story 06:31 Why Day Trading Burns People Out 13:57 Learning Options After Crypto Perps 20:19 Hyperliquid, Airdrops & Missed Opportunities 26:18 Current Market Outlook & Bear Market Timing 32:38 Insilico Terminal, Execution Tools & Product Talk 38:48 What Drives the Next Crypto Cycle? 44:27 LPing Memecoins Like an Options Strategy 49:08 Michael Saylor, Bitcoin Holders & Market Risk
#41
July 2 · 1 hr 4 min· Video
Why options are easier than you think - Thalex founder Hendrik Ghys on volatility and delta hedging
Hendrik Ghys, Co-Founder & CEO of Thalex, joins the Insilico Terminal Podcast to talk about crypto options, volatility trading, market makers, delta hedging, and why options are easier than most traders think. We cover how Thalex is building a crypto options exchange, why options are harder to bring on-chain than perps, how MOVE-style contracts work, what market makers actually do when they hedge, and how traders can think about perps vs options. The episode also covers selling volatility, delta hedging straddles, OPEX, gamma, call spreads, longer-dated options, and why many retail traders might be making trading harder than it needs to be. 00:00 Intro: Hendrik Ghys from Thalex 01:47 Building a Crypto Options Exchange 06:15 Why Thalex Focused on Better Options Products 13:26 Why DeFi Options Are So Hard 16:53 Perps vs Options for Traders 30:13 How Options Market Makers Hedge 40:18 Selling Vol and Delta Hedging 49:34 Simple Options Rules for Retail Traders 55:16 Day Trading Options vs Perps 01:01:56 Learning Options by Doing
#40
June 25 · 58 min· Video
No Brains, All Balls, and Why Execution Beats Analysis with EmptyBrainTrader
EmptyBrainTrader joins the Insilico Terminal Podcast to talk about crypto trading, execution, mean reversion, and the psychology of actually clicking the button. We covered his early mistakes buying XRP and Zcash, blowing up in 2022, studying DOM and auction market theory, building a mean reversion style, dealing with FOMO and revenge trading, and why execution often matters more than perfect analysis. We also talked about the current crypto market, Saylor fear, BTC downside risk, HYPE, Hyperliquid, perp DEXs, Extended, Variational, prediction markets, and why traders should focus on not losing big. 00:00 No Brains, All Balls and why execution matters 08:00 Mean reversion, footprint, and fading extremes 16:00 FOMO, patience, and learning to sit out 24:18 Stocks, war fear, and why markets keep grinding higher 33:35 Perp DEXs, Hyperliquid, Extended, and liquidity 41:44 Market orders, swarm orders, TWAPs, and limit fills 48:28 HYPE, HIP-3, and why Hyperliquid still matters
#39
June 18 · 59 min· Video
CryptoGoon: Finding Edges in Broken Markets
CryptoGoon joins the Insilico Terminal Podcast to talk about leaving TradFi, discovering early DeFi, getting rugged, and finding real trading edges across crypto markets. We cover the difference between solo trading and working inside a trading firm, how simple arbs and broken on-chain mechanics turned into profitable trades, what market making actually looks like, and why new perp DEXs and prediction markets can still offer opportunities for traders willing to dig. He also shares his thoughts on Hyperliquid, HYPE, points farming, the current state of crypto, and why quant trading is often less about complex math and more about finding weird things before everyone else. 00:00 Intro + CryptoGoon’s background 04:31 Getting rugged and discovering early DeFi 07:08 Why TradFi-style edges worked in 2021 crypto 11:03 Solo trading vs trading inside a firm 15:25 The on-chain casino arb that became PvP 24:13 Finding edge early on new perp DEXs 31:10 Why quant trading is simpler than people think 38:39 Why points farming can reveal real edge 53:01 Crypto morale, HYPE, and where the market is now
#38
June 4 · 1 hr 4 min· Video
Selling Vol, Market Making, and the Future of Crypto Options | Marty
Marty joins the Insilico Terminal Podcast to talk about his path from early Bitcoin and BitMEX to becoming a top perps and spot market maker on FTX, and later moving deeper into crypto options. We discuss why options market making is so different from perps, why retail still prefers simple up/down leverage, how structured products work, what went wrong with DeFi options, and why portfolio margin matters. Marty also shares his view on volatility selling, surviving major market stress events, the current state of Bitcoin and ETH, and why Hyperliquid has become one of the most important venues in crypto. 00:00 Marty’s path from early Bitcoin to market making 06:17 Becoming a top FTX perps and spot market maker 12:00 Why crypto options are still behind perps 16:17 How institutions use structured products 20:31 Why DeFi options struggled and what changed 25:03 Prediction markets, binary options, and retail gambling 30:37 Better ways to express directional trades with options 37:51 Surviving 10/10, volatility spikes, and exchange outages 43:14 Why Marty is skeptical about the current crypto market 52:01 Bitcoin’s narrative problem and what could bring it back

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