> For the complete documentation index, see [llms.txt](https://references.everstrike.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://references.everstrike.io/products/perpetual-volatility-indices.md).

# Perpetual Volatility Indices

The perpetual BTC volatility index (PVIX-BTC) is a perpetual index that settles to the average Funding Rate across all perpetual BTC options contracts on Everstrike. PVIX-BTC enables market participants to have direct vega exposure, without taking directional risk.

PVIX-BTC is scheduled for Testnet release in Q3 2027.