The task is mammoth, though. In fragmented markets, collating information gathered with uniform standards is tough. This is compounded by the varying margin rules across an asset, and even within an exchange. Throw in the growing use of credit on top of leverage (where the exchange lends you the money for the initial margin), and the actual exposure gets buried even deeper.
What’s more, as credit seeps into the spot markets, the situation will get even more confusing. Some exchanges offer investors the chance to buy bitcoin with a loan, a practice that is likely to grow – in spite of the business risk – since it is an attractive feature for users.
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