CAPITAL

Quantitative investment research

Digital-asset markets

Markets, at
every scale.

AI/ML investment systems for digital-asset markets.

Our perspective
MACRO / CAPITAL FLOWSSW / 01—03
Derivatives, liquidity and cross-venue behaviour.Macro perspective · MFT · HFT

01 Perspective

The whole market.
The finer detail.

Markets move across connected scales. We study the forces that shape the environment, the mechanics that form prices, and the decisions that follow.

Context01 / MACRO

Macro & capital flows.

Liquidity, positioning and the movement of capital. A wider lens on the conditions shaping digital-asset markets.

Liquidity · Flows · Market regimes
Decisions02 / MFT

Systematic & MFT.

Medium-frequency research on crypto perpetual futures. We study relative value and short-horizon momentum across multiple timescales, with risk, trading costs and changing market conditions in view.

AI / ML · MFT · Crypto perpetuals
Mechanics03 / HFT

Microstructure & HFT.

High-frequency research into order flow, liquidity and price formation. Studying how short-lived information and execution conditions interact.

HFT · Liquidity · Execution

02 Research & trading

Quantitative research.
Systematic investment.

Our research spans medium-frequency trading (MFT) and high-frequency trading (HFT) across crypto perpetual futures. Two complementary signal research lines sit alongside a focus on microstructure and execution.

  1. 01

    Relative value.

    Statistical arbitrage research into joint pricing relationships and mean reversion across perpetual futures, tested against simpler baselines and trading costs.

  2. 02

    Short-horizon trend.

    Systematic trend following and order-flow momentum, examining behavioural effects and their sensitivity to changing market conditions.

  3. 03

    Microstructure & execution.

    HFT research into liquidity, price formation and short-lived information, connecting signal analysis with the practical constraints of execution.

Portfolio perspective

We seek opportunities in market activity and cross-sectional dispersion, while evaluating directional exposure, including Bitcoin beta, alongside liquidity and trading costs.

03 The firm

Independent by design.
Research at the centre.

ScaleWave Capital is an independent quantitative investment research firm focused on digital-asset markets. Our full-time research programme brings together statistical learning, derivatives and market structure to develop systematic investment approaches.

Academic & research collaboration

Our research programme includes ongoing collaboration with PhD researchers and university faculty. This work connects statistical learning, computational finance and quantitative modelling with rigorous empirical market research and investment applications.

Ajay SellappanResearch Director

ScaleWave on LinkedIn

04 In conversation

A shared interest
in the markets.

We welcome research collaboration with academic researchers, quantitative labs, financial institutions and digital-asset teams. Our focus is rigorous empirical work, research infrastructure and informed exchange between practitioners.