# Positioning (`research_positioning`) > Who is on the other side of your trade. Up to eight reads on one coin — who is crowded, who is fragile, who is trapped — plus the price levels the whole board is watching. - Category: Research & risk - MCP tool: `research_positioning` - REST: `GET /research/positioning/{symbol}` - MCP App: hosts that support MCP Apps render the result as an interactive view - x402 price: $0.05 per call (USDC on Base) - HTML: https://www.f1ow.com/docs/tools/research_positioning ## What it does Deterministic positioning read for one coin — the game-state companion to research_regime, answering 'who is crowded, who is paying, who is trapped, and where'. Up to nine axes, each tagged with the market-actor cohort it reads: crowding (annualized funding vs the venue-standard 0.01%/8h anchor, long/short skew, dollars/day the majority pays to hold, crowd-vs-top-trader divergence, and cross-venue funding dispersion), buildup (24h price vs open-interest direction and the funding trend — whether positions are being added into the move or closed out), liquidity (order-book spread and imbalance — makers backing off), basis (perp vs oracle premium — spot-perp froth or hedging pressure, informational), fragility (24h liquidations as a share of market-wide open interest; the axis degrades rather than substituting a single venue's OI, since the liquidation total is cross-exchange), predation (visible on-chain whale positions within 2 daily sigmas of their liquidation price, with defending book depth), trap (share of tracked whale notional underwater on the funding-paying side — attrition fuel), house book (the on-chain exchange's LP-vault inventory, summed across its child sub-vaults — the literal venue counterparty, so the inventory it carries mirrors how traders are crowded; measured as net over its own gross book, since a market maker's net is a rounding error against venue open interest; informational), and disagreement (the most liquid matching prediction market, volume-gated, informational). Each axis reports its state, the numbers, and a +1/0/-1 fragility vote (+1 clean, -1 crowded/fragile); the stance is the disclosed sum-of-votes rule. Also returns a one-line 'farmed' synthesis (which cohort the board is currently farming, or an explicit statement that none is), focal points — reachable liquidation and breakeven price levels the whole market can see — and 'would change the call' thresholds a polling agent can watch statelessly. Reports the board, not a direction: crowding says who is paying, not where price goes. Deterministic — same inputs, same read. Call research_regime first for market context, then this per coin before sizing or timing decisions. ## Parameters | Name | Type | In | Required | Description | | --- | --- | --- | --- | --- | | `symbol` | string | path | yes | Coin symbol, e.g. "BTC" or "ETH". | ## Call it ### cURL ```bash curl "https://mcp.f1ow.com/v1/research/positioning/BTC" \ -H "Authorization: Bearer $F1OW_API_KEY" ``` ### MCP ```json { "jsonrpc": "2.0", "id": 1, "method": "tools/call", "params": { "name": "research_positioning", "arguments": { "symbol": "BTC" } } } ``` ### TypeScript ```ts const res = await fetch("https://mcp.f1ow.com/v1/research/positioning/BTC", { headers: { Authorization: `Bearer ${process.env.F1OW_API_KEY}` }, }); const data = await res.json(); // the tool's result as JSON, typed in the OpenAPI spec console.log(data); ``` ### Python ```python import os, requests res = requests.get( "https://mcp.f1ow.com/v1/research/positioning/BTC", headers={"Authorization": f"Bearer {os.environ['F1OW_API_KEY']}"}, ) data = res.json() # the tool's result as JSON, typed in the OpenAPI spec print(data) ``` ### WebSocket ```jsonc // wss://mcp.f1ow.com/v1/ws — subprotocol "jsonrpc-2.0", Authorization: Bearer { "jsonrpc": "2.0", "id": 1, "method": "tools/call", "params": { "name": "research_positioning", "arguments": { "symbol": "BTC" } } } // Or push a fresh result whenever it changes (minimum interval 15 s) { "jsonrpc": "2.0", "id": 2, "method": "subscriptions/subscribe", "params": { "name": "research_positioning", "arguments": { "symbol": "BTC" }, "intervalSeconds": 60 } } ``` ### x402 ```bash # No account: the first call answers 402 with a PAYMENT-REQUIRED challenge; # an x402 client pays it in USDC on Base and retries. curl "https://mcp.f1ow.com/x402/v1/research/positioning/BTC" ``` ## Sample response Captured 2026-11-13. The JSON is what REST and WebSocket return and the `structuredContent` of an MCP call (trimmed): ```json { "axes": [ { "actors": "funding arbs, retail crowd", "detail": "funding +0.0002%/h (ann +1.8% vs anchor +10.9%) | crowd L/S 3.32 vs top traders 2.14 — crowd 1.55x more long-skewed | longs paying ~$2.4M/day market-wide | venue funding +3.3pp vs merged | series at +1.8% ann sits 5th pct of its own 30-point window (+0.1% to +12.2%) | CoinGlass 2026-11-13 08:00 UTC bucket", "metrics": { "fundingRatePctPerHour": 0.0002105, "annualizedFundingPct": 1.84398, "fundingRateIsOiWeighted": 1, "anchorAnnualPct": 10.95, "fundingDragUsdPerDay": 2411081.02544037, "longShortRatio": 3.32, "crowdVsTopDivergence": 1.18, "crowdLongShortRatio": 3.32, "topTraderLongShortRatio": 2.14, "crowdVsTopSkewRatio": 1.55140186915888, "fundingVenueDispersionPct": 3.316098, "fundingWindowPercentile": 5, "fundingWindowLowPct": 0.09855, "fundingWindowHighPct": 12.20706, "fundingWindowSpreadPct": 12.10851, "fundingWindowRankedPct": 1.84398 }, "name": "Crowding", "state": "STRETCHED SHORT (bottom of its own window)", "vote": -1 }, { "actors": "new entrants, closing leverage", "detail": "price -6.8% / OI -6.3% over 24h ($50.93B -> $47.73B) | funding +8.5% -> +1.8% ann (falling) | 3th pct of 53 rolling 24h moves (-6.5% to +3.6%) — a move for this tape, under the absolute band — positions closing | CoinGlass 2026-11-13 08:00 UTC bucket", "metrics": { "priceChangePct24h": -6.79676, "oiChangePct24h": -6.28777326501869, "oiPriorUsd": 50927482234, "oiNowUsd": 47725277621.5434, "annualizedFundingPriorPct": 8.482965, "annualizedFundingPct": 1.84398, "oiChangeWindowPercentile": 2.83018867924528, "oiChangeWindowLowPct": -6.48941665693922, "oiChangeWindowHighPct": 3.59523545652303, "oiBuildThresholdPct": 5 }, "name": "Buildup", "state": "LONG LIQUIDATION", "vote": 0 }, { "actors": "market makers / HFT", "detail": "spread 0.1 bps | depth $3.9M bid / $12.0M ask | ask-heavy book (-51% imbalance)", "metrics": { "spreadBps": 0.145644147654037, "imbalancePct": -50.9388172371789, "bidDepthUsd": 3892521.77123, "askDepthUsd": 11975508.92851 }, "name": "Liquidity", "state": "TIGHT", "vote": 1 }, { "actors": "cross-venue / spot-perp arbs", "detail": "perp -4.1 bps vs oracle (mark $68654 / oracle $68686) | venue funding +0.0006%/h", "metrics": { "premiumBps": -4.076522, "markPriceUsd": 68654, "oraclePriceUsd": 68686 }, "name": "Basis", "state": "FLAT", "vote": 0 }, { "actors": "liquidation hunters", "detail": "24h liq $918.6M = 1.92% of $47.73B market-wide OI", "metrics": { "liqIntensityPct": 1.92481223638172, "liquidation24hUsd": 918621983.506613, "marketWideOpenInterestUsd": 47725277621.5434 }, "name": "Fragility", "state": "DELEVERAGING", "vote": -1 }, { "actors": "directional whales, hunters", "detail": "5 visible positions >=$1.0M ($265.7M = 10.4% of venue OI) | exposed within 2 sigma: 0 ($0) | 30d daily sigma 2.0%", "metrics": { "visiblePositions": 5, "visibleNotionalUsd": 265705194.2608, "visibleShareOfVenueOi": 0.103786653312487, "venueOpenInterestUsd": 2560109472.4656, "exposedCount": 0, "exposedNotionalUsd": 0, "dailySigmaPct": 1.97356463971501, "nearestLiqDistanceSigmas": 23.2465772650821, "bidDepthUsd": 3892521.77123, "askDepthUsd": 11975508.92851 }, "name": "Predation", "state": "NO EXPOSED MAJORS", "vote": 1 }, "… 3 more" ], "axesComputed": 9, "axesTotal": 9, "farmed": "no cohort clearly farmed — funding near the anchor, no systemic trap, no exposed majors (longs pay the carry, bleeding ~$2.4M/day carry)", "focalPoints": [ { "priceUsd": 68831.3, "reason": "visible $4.0M long underwater (-$10k uPnL) entered here — breakeven exit level", "side": "long breakeven" } ], "skippedAxes": [], "stance": "LEAN CLEAN (vote score +1 across 9 axes)", "stanceRule": "stance = sum of axis votes (+1 clean / 0 neutral / -1 crowded-fragile): >= +3 CLEAN BOARD, +1..+2 LEAN CLEAN, 0 MIXED, -1..-2 CROWDED, <= -3 FRAGILE", "symbol": "BTC", "thresholds": [ { "comparator": ">=", "current": 1.84398, "flipsTo": "CROWDED LONG", "metric": "annualizedFundingPct", "value": 30.95 }, { "comparator": "<=", "current": 1.84398, "flipsTo": "CROWDED SHORT", "metric": "annualizedFundingPct", "value": -9.05 }, { "comparator": ">=", "current": 5, "flipsTo": "STRETCHED LONG", "metric": "fundingWindowPercentile", "value": 85 }, { "comparator": "<=", "current": 5, "flipsTo": "STRETCHED SHORT", "metric": "fundingWindowPercentile", "value": 15 }, { "comparator": ">=", "current": 1.55140186915888, "flipsTo": "COHORTS SPLIT", "metric": "crowdVsTopSkewRatio", "value": 1.5 }, { "comparator": ">=", "current": -6.28777326501869, "flipsTo": "BUILDING", "metric": "oiChangePct24h", "value": 5 }, "… 7 more" ], "wouldChange": [ "annualized funding >= +30.9% -> crowded long; <= -9.1% -> crowded short (now +1.8%)", "funding at/above the 85th pct of its own window -> stretched long; at/below the 15th -> stretched short (now 5th)", "crowd and top traders are 1.55x apart — the clean vote is withheld until they converge inside 1.5x", "24h OI change >= +5.0% -> positions building; <= -5.0% -> unwinding (now -6.3%)", "or a 24h move at/above the 85th pct of this window's own moves (now 3th)", "spread >= 5.0 bps -> makers backing off (now 0.1 bps)", "… 4 more" ], "options": { "informational": true, "nextExpiry": "2026-11-14T08:00:00Z", "nextExpiryMaxPainTheoretical": 73500, "observedAt": "2026-11-13T08:05:16Z", "oiNotionalUsd": 22726606453.448, "provider": "Deribit", "putCallOi": 0.786936722608645, "riskReversal25At30d": -4.13282585233276, "skewState": "PUTS OVER CALLS", "state": "BALANCED", "gamma": { "flips": [ 76832.5074174907 ], "gammaState": "NEGATIVE MODELED GAMMA", "grossUsdPer1Pct": 329834819.687822, "largestGammaStrikes": [ 70000, 72000, 80000 ], "observed": false, "regime": [ "NEGATIVE MODELED GAMMA" ], "scenario": "calls_long_puts_short", "signedUsdPer1Pct": -176374379.632186, "spotUsd": 68625.86 } }, "generatedAt": "2026-11-13T08:05:50.6034395+00:00" } ``` Over MCP the text report a model reads comes with it: ```text === BTC Positioning — 2026-11-13 08:05 UTC === Stance: LEAN CLEAN (vote score +1 across 9 axes) Rule: stance = sum of axis votes (+1 clean / 0 neutral / -1 crowded-fragile): >= +3 CLEAN BOARD, +1..+2 LEAN CLEAN, 0 MIXED, -1..-2 CROWDED, <= -3 FRAGILE Farmed: no cohort clearly farmed — funding near the anchor, no systemic trap, no exposed majors (longs pay the carry, bleeding ~$2.4M/day carry) Crowding STRETCHED SHORT (bottom of its own window) funding +0.0002%/h (ann +1.8% vs anchor +10.9%) | crowd L/S 3.32 vs top traders 2.14 — crowd 1.55x more long-skewed | longs paying ~$2.4M/day market-wide | venue funding +3.3pp vs merged | series at +1.8% ann sits 5th pct of its own 30-point window (+0.1% to +12.2%) | CoinGlass 2026-11-13 08:00 UTC bucket [funding arbs, retail crowd] Buildup LONG LIQUIDATION price -6.8% / OI -6.3% over 24h ($50.93B -> $47.73B) | funding +8.5% -> +1.8% ann (falling) | 3th pct of 53 rolling 24h moves (-6.5% to +3.6%) — a move for this tape, under the absolute band — positions closing | CoinGlass 2026-11-13 08:00 UTC bucket [new entrants, closing leverage] Liquidity TIGHT spread 0.1 bps | depth $3.9M bid / $12.0M ask | ask-heavy book (-51% imbalance) [market makers / HFT] Basis FLAT perp -4.1 bps vs oracle (mark $68654 / oracle $68686) | venue funding +0.0006%/h [cross-venue / spot-perp arbs] Fragility DELEVERAGING 24h liq $918.6M = 1.92% of $47.73B market-wide OI [liquidation hunters] Predation NO EXPOSED MAJORS 5 visible positions >=$1.0M ($265.7M = 10.4% of venue OI) | exposed within 2 sigma: 0 ($0) | 30d daily sigma 2.0% [directional whales, hunters] Trap CLEAN $4.0M of $265.7M tracked (2%) underwater on the paying side (longs pay) = 0.2% of $2.56B venue OI | single-name (largest $4.0M = 100% of trapped) [trapped whales] House book BOOK TOO SMALL TO READ HLP holds only $6k gross in BTC against $49.3M vault equity (readable at $246k) — the vault is flat here, not positioned, so its 11% net-to-gross is residue rather than a direction (informational) [DEX LP vault (HLP)] Disagreement ODDS Will Bitcoin dip to $45,000 by December 31, 2026? -> 'No' 95% ($9511k volume, resolves 2027-01-01T05:00:00Z) — check against funding's implied lean [informed flow (proxy)] Focal points (known price levels, nearest first): - $68831.3 (long breakeven): visible $4.0M long underwater (-$10k uPnL) entered here — breakeven exit level Would change the call: - annualized funding >= +30.9% -> crowded long; <= -9.1% -> crowded short (now +1.8%) - funding at/above the 85th pct of its own window -> stretched long; at/below the 15th -> stretched short (now 5th) - crowd and top traders are 1.55x apart — the clean vote is withheld until they converge inside 1.5x - 24h OI change >= +5.0% -> positions building; <= -5.0% -> unwinding (now -6.3%) - or a 24h move at/above the 85th pct of this window's own moves (now 3th) - spread >= 5.0 bps -> makers backing off (now 0.1 bps) - 24h liquidations >= 1.0% of market-wide OI -> deleveraging (now 1.92%) - a visible >=$1.0M position moving within 2 daily sigmas of its liquidation flips Predation - >=50% of tracked AND >=5% of venue OI underwater on the paying side -> trapped majority (now 2% of tracked, 0.2% of venue OI) - HLP's book in BTC reaching $246k gross (0.5% of its $49.3M equity) makes the axis readable (now $6k) Inputs: 9/9 axes computed Options (Deribit; option-holder cohort, informational, no vote): OI $22.73B, put/call OI 0.79 → BALANCED | 25Δ RR 30d -4.1 (PUTS OVER CALLS) | next expiry 14 Nov 2026 $160.9M (1% of OI), max pain $73500.00 (theoretical) modeled gamma (dealers long calls / short puts, not observed): NEGATIVE MODELED GAMMA, signed -$176.4M of gross $329.8M per 1% | nearest flip $76832.51 (+12.0%) | nearest large gamma strike $70000.00 (+2.0%) ``` ## Related tools - [Market Regime](https://www.f1ow.com/docs/tools/research_regime) — What kind of market you are trading in. Seven forces — trend, volatility, cycle, sentiment, leverage stress, ETF liquidity, rotation — each voting with its own reasoning and its own threshold for changing the call. - [Opportunity Scan](https://www.f1ow.com/docs/tools/research_opportunities) — A liquidity-qualified major and mid-cap universe screened on crowding, stress, leverage, compression, trend, location and entry quality. Ranked candidates with disclosed setup rules and entry, stop and target geometry — not a forecast or a proven edge. - [Trade Plan Review](https://www.f1ow.com/docs/tools/research_trade_plan) — Check your entry, stop and target against ATR, perp levels, liquidation distance, fees, slippage and funding. Add account size and risk for sizing, or a placement time to replay a trade from public candles. An interactive ticket in MCP Apps hosts; no orders placed or plans stored. - [Token Dossier](https://www.f1ow.com/docs/tools/research_token_view) — One coin, fully assembled. Market data, technicals, on-chain, cited narrative synthesis, catalysts, social, ETF flows and prediction odds — the entire dossier from a single call.