Deribit: Advanced Derivatives Exchange
Deribit is a leading derivatives exchange that allows users to trade a wide range of derivatives products, including futures, perpetuals, and options contracts, with deep liquidity. Advanced tools such as the Option Wizard, Position Builder, and Deribit Metrics enable traders to manage their crypto portfolios effectively. The platform also offers a testnet feature, allowing beginners to simulate trading scenarios to gain experience.
Deribit was one of the first platforms to offer Bitcoin options trading. Since its launch in 2016, it has grown to hold the largest share of the global Bitcoin Options market. The platform is suitable for both individual and institutional investors. Deribit also maintains a strong focus on security, offering robust security measures and proof-of-reserves.
Pros and Cons
| Pros | Cons |
| Wide range of derivatives products such as futures, perpetuals and options contracts | Not available in U.S. and Canada |
| Powerful trading tools | |
| Zero-fee spot trading | |
| Deep liquidity for facilitating trades | |
Trading Fees
Deribit officially launched its spot trading feature on April 24, 2023, introducing three trading pairs: BTC/USDC, ETH/USDC, and ETH/BTC. For these spot trading pairs, Deribit does not charge any trading fees. However, for derivatives trading, the platform utilizes a maker/taker fee structure, where takers pay higher fees compared to makers.
| Contracts | Maker Fee | Taker Fee |
| BTC Weekly Futures | -0.01% | 0.05% |
| ETH Weekly Futures | -0.01% | 0.05% |
| BTC Futures & Perpetual | 0.00% | 0.05% |
| ETH Futures & Perpetual | 0.00% | 0.05% |
| USDC Perpetuals | 0.00% | 0.05% |
| BTC Options | 0.03% of the underlying or 0.0003 BTC per options contract | 0.03% of the underlying or 0.0003 BTC per options contract |
| ETH Options | 0.03% of the underlying or 0.0003 ETH per options contract | 0.03% of the underlying or 0.0003 ETH per options contract |
| USDC Linear Options | 0.0001 * index price (Capped at 12.5% premium) | 0.0005 * index price (Capped at 20% premium) |
Trading Experience
Deribit offers advanced tools like the Option Wizard, Position Builder, and Testnet to help traders in managing their crypto portfolios. The platform provides high-speed trading with deep liquidity, and the interface is customizable, allowing users to rearrange sections like charts, order books, order forms, and trade history to fit their preferences. Charts come with multiple customization options and technical indicators.
Deribit supports a wide range of order types, including limit, market, stop limit, and trailing stop orders, along with stop loss and take profit options for more sophisticated trading strategies. The Option Wizard helps users identify optimal options trading strategies based on price predictions, while the Position Builder allows for the construction and analysis of strategies before execution. The Testnet feature offers a simulated trading environment, perfect for testing strategies without financial risk.
Other Features
Apart from derivatives trading, Deribit also offers spot trading, supporting 11 trading pairs and 8 coins. The spot trading feature was launched on April 24, 2023, initially with three pairs. Traders pay no fees for spot trading. They can access the same trading interface, with identical order types and stop loss and take profit options, allowing them to take advantage of the spot market. Here are the trading pairs:
- XRP/USDC
- USDC/USDT
- STETH/USDC
- STETH/ETH
- SOL/USDC
- MATIC/USDC
- ETH/USDT
- ETH/USDC
- ETH/BTC
- BTC/USDT
- BTC/USDC
Customer Service and Satisfaction
Deribit offers customer support through multiple channels, including live chat, email, and Telegram, and provides educational resources focused on derivatives trading and platform tools. Deribit has a mix of reviews on TrustPilot, which makes overall rating of 3.3 out of 5 from 14 reviews. Many users praise the platform for its high liquidity, smooth trading experience, and fast trade execution. However, some customers express dissatisfaction with issues such as lost funds and the quality of customer support.
Company Overview
Launched in 2016, Deribit initially focused on providing advanced trading tools and services for cryptocurrency derivatives. In 2023, the platform expanded its services to include zero-fee spot trading. Deribit is recognized as one of the largest derivatives exchanges by trading volume. The platform has implemented robust security measures, including a proof-of-reserves system, to ensure the safety of users’ funds. Additionally, Deribit offers customer support through multiple channels, allowing users to address queries or issues effectively.