BTC perpetual volume on Binance is about 4x spot volume.
Comparing spot and perpetual volumes could provide useful insights into market sentiment.
Abnormal increases in the spot market could be associated with accumulation. Abnormal increases in the perpetual market, on the other hand, could predict volatility as well lows and highs.
This script represents a Z-score of the volume of perpetual and 4xspot on Binance.
High values above 0 mean that the volume is skewed towards perpetual contracts. Values below 0 mean that the volume is skewed towards spot contracts.
Feel free to suggest changes and improvements of this script.