Deribit exchange: a complete overview of the official website, registration and login to the cabinet, trading in futures and options, commissions

47

Deribit has been operating since June 2016 as a platform that allows you to trade options and futures on Bitcoin or Ethereum. The headquarters is located in Amsterdam (Netherlands), the founder is John Jansen together with Andrey Yanovsky, Sebastian Smychinsky and Marius Jansen. The Deribit team is one of the most transparent and trustworthy in the crypto space.

Official site: deribit.com

The creators combined the first syllables from “derivatives” and “Bitcoin” to form the name Deribit. Clients of the exchange can use BTC to deposit funds, withdraw funds and make transactions. The site also provides users with the opportunity to use x100 leverage when trading futures contracts.

Alternative sites: Bitmex (without verification), Binance, Currency, Bybit.

Although Deribit is less well known than other crypto futures exchanges, its popularity is gradually growing. Deribit can be a good alternative for crypto enthusiasts who are fond of futures trading. Despite the wide functionality, all transactions of the site are made only in Bitcoins, and Deribit acts as an unregulated broker. The fact is that European regulators have not yet recognized cryptocurrencies as full-fledged trading instruments.

Nevertheless, at the moment, residents of more than a hundred countries can use the services of the exchange in full.

Information

Stock exchangeDeribit
Official sitederibit.com
Russian languageYes
Year of foundation2016
Legal nameDeribit B.V.
Country of registrationNetherlands
Legal addressStationsstraat 2, 3851 NH, Ermelo in the Netherlands
Registration numberCoC number: 69402132; VAT number: NL857861293B01
CEOJohn Jansen
Working with fiat moneyNo
Deposit / withdrawalBitcoin
Deposit commission0%
Withdrawal commissionblockchain network commission
VerificationNo
Account protectionGoogle Authenticator
Trading commissionhttps://www.deribit.com/pages/information/fees
Trading instrumentsExpiry futures, perpetual contracts, options
Price indexGDAX, Bitstamp, Itbit
Own tokenNo
Mobile appYes
Futures trading volume$1,134,745,877
Options trading volume$61,614,165
Types of ordersLimit, Market, Stop Market, Stop Limit
Margin leverageup to 100x
Demohttps://test.deribit.com/
Twitterhttps://twitter.com/DeribitExchange
Contactssupport@deribit.com

Deribit features

The following key features of the Deribit trading platform are distinguished:

Extensive selection of shopping options. Clients have access to both the futures exchange and options. The Deribit project specializes in providing the ability to trade with leverage up to 1:10, and for futures, credit up to x100 is available. Also, users can engage in margin trading and use a demo account to test their strategies.

Manufacturability. The exchange uses useful innovations for trading – for example, it allows users to trade through a special mechanism, thanks to which the transaction latency is no more than one millisecond.

There are also many options for using the site – a web interface, API, applications for iPhone and Android. Deribit integrates freely with trading robots (Actant, BotVS, HaasOnline).

Safety. Storage of 95% is carried out in cold cryptocurrency wallets.

Multilingual and user-oriented. The site is available in several languages, including Russian. Technical support responds quickly. You can also contact the development team – for this, the email addresses of the participants are indicated in the team section. Communication via social networks and instant messengers is also available.

Functional. Deribit has a simple and intuitive interface and a wide range of functions. Standard elements such as a list of recent orders or trade history are well represented. The platform also offers various volatility indices and charts, statistical tools, technical analysis indicators, etc.

Official site and sections

On the main page of the Deribit exchange there is a registration form and general information about the platform.

The Contract Specification menu contains detailed information about all types of trading assets used on the exchange:

✅ General Information – about commissions, the core of the system, insurance, risk analysis.

✅ Futures is all about BTC and ETH futures, the types of orders associated with them.

✅ Perpetual – information about perpetual contracts (derivatives). Description, specification, funding rate, allowed order types.

✅ Options, their types and specifications.

The next item in the top menu Fees provides detailed information about commissions for deposits, withdrawals and trading for the maker and taker.

The Information menu contains the following items:

✅ FAQ. Answers to general questions about how the Deribit platform works.

✅ Videos. Videos advertising the exchange or demonstrating its capabilities.

✅ Mobile Apps. Links to download Deribit applications in the App Store and Play Market.

✅ Trading Software. Links to trading applications that can work in conjunction with Deribit. These include NinjaTrader, TSLab, FMZ, Actant Trading Software, WolfBot, MisterBlond, Haasonline, DeribitExcelBot.

✅ Two-factor authentication. Information about two-factor authentication and links to download authentication programs for different platforms.

✅ Portfolio Margin. Information about a risk-based model based on the history of market volatility. Portfolio Margin is a useful tool for traders and market makers maintaining a portfolio from hedged positions.

✅ About Us. Deribit development team details.

Account creation: registration, verification

Registration on the Deribit cryptocurrency exchange is standard and easy. It is required to fill in the fields E-mail, Nickname / Nickname, password, country of residence, and agree to the terms of use of the exchange. Then click Submit.

You will then need to confirm your email address.

The marketplace does not require confirmation of the user’s identity. But for security, it is recommended to set up two-factor authentication in the Personal Account.

Personal Area

You can enter your personal account on the Deribit platform by clicking on your account name in the upper right corner, and then – My account.

The following page will open:

Let’s consider the sections in more detail.

  1. My account. Here you can change your nickname, customize the language of e-mail notifications and track the history of logins to your account. You cannot change your email.
  2. Safety. Two-factor authentication is enabled here, and you can also change your password.
  3. Output. Transferring funds from your account to your wallet, viewing the history of transfers.
  4. Deposit. Replenishment of an account on the exchange.
  5. API. API library and key management.
  6. Settings. Section for managing e-mail notifications, confirmation windows, sounds and other interface elements.
  7. Transaction log. Information about all the transactions carried out.
  8. Statistics. Here you can track the activity of your trading in futures and options for the last day, week, month, year.
  9. Affiliate program. Included only after confirmation of agreement with its terms and conditions.
  10. Risk transfer to reduce losses and improve market control.
  11. Subaccounts. One or more “subaccounts” can be created to be used for specific trading purposes without affecting the main account.

How to replenish, withdraw funds from the account

To fund your Deribit account, go to the Deposit section of your Personal Account. Click the Get new deposit address button.

Then you can use the QR code by scanning it with your phone with the wallet program installed, or copy the provided address and manually transfer funds to it. The account is replenished only in Bitcoins. You can buy BTC at Bitcoin exchangers or on fiat money exchanges: EXMO, LocalBitcoins, DSX.

To withdraw money from Deribit, use the Withdraw tab.

Enter the address of your BTC wallet and the amount of funds that you want to withdraw. The choice of a higher or lower priority affects the size of the commission and, as a result, the speed of transaction confirmation. After making sure the settings are correct, click Output. To convert to fiat money, you can use cryptocurrency exchangers.

Futures trading

You can navigate between trading options using the left menu, and between Bitcoin and Ethereum, using the tabs at the top of the trading terminal.

Deribit Bitcoin futures imply the monetary value of BTC, not the actual Bitcoin coins. In other words, the buyer of BTC futures will not buy real BTC when settling, and the seller will not sell Bitcoin at the agreed price. Instead, there will only be a carryover of loss or profit based on the so-called expiration price (this is the average BTC rate over the last 30 minutes).

Timing

The calculation is done daily at 8:00 UTC. All realized and unrealized profits from the session (from the settlement day to the settlement day) are added to the total capital in real time, but are available for use only after settlement.

The completion of the futures occurs on the closing day of the month at exactly 8:00. There are currently two quarterly futures (ending on the last Friday of March, June, September and December). A new futures with a new expiration date is added exactly one hour before the old one expires.

Trade in perpetual contracts

A perpetual contract on the Deribit exchange is a derivative, that is, a product that in many ways resembles a futures, only with no expiration date. The main component of such a contract is the “payment on financing”, which allows keeping its value as close as possible to the value of the main cryptocurrency.

In the event that the perpetual swap trades are higher than the index, traders with long positions pay traders with short positions. The product becomes less useful for longs, but more useful for shorts. As a result, the value of contracts naturally decreases to the level of the index. It also works in the opposite direction.

One of the distinguishing features of the Deribit perpetual contract is the regular measurement of the level difference between the Deribit BTC index and the perpetual swap marker price. The percentage difference is automatically combined and based on the eight hour funding rate. It applies to all derivatives with currently open positions.

Options trading

Bitcoin options are traded for cash in the so-called European style. The European style meaning implies that options on the Deribit marketplace cannot be exercised until expiration, and in some cases can only be automatically exercised after expiration. Cash settlement means that the creator of the contract, when exercising such an option, pays the holder the income in money, and not any assets.

Options are priced in ETH or BTC, but you can also see the value in USD. In addition, the platform demonstrates the option price volatility to the user.

Commissions

Deribit commissions are arranged according to the maker-taker model.

For perpetual BTC contracts:

✅ maker – 0.025%

✅ taker – 0.075%

For BTC futures:

✅ maker – 0.02%

✅ taker – 0.05%

For perpetual ETH + futures:

✅ maker – 0.025%

✅ taker – 0.075%

BTC and ETH options:

✅ 04% of the base or 0.0004 BTC / option contract

✅ 04% of the base or 0.0004 ETH / option contract

The commission cannot be higher than 12.5% ​​of the total option price.

Deposit and Withdrawal Fees:

✅ There are no commissions on account replenishment.

✅ The commission for withdrawal depends on the current download of the Bitcoin blockchain and the selected priority.

Deribit pros and cons

Pros

✅ Lots of information about the team. It includes specialists with many years of experience in the financial industry.

✅ Loyal trading commissions.

✅ Wide trading functionality, including futures and options trading.

✅ Balance replenishment without commission.

✅ Large leverage when trading futures.

Cons

❌ The site is unregulated.

❌ All activity (replenishment, withdrawal) is carried out only in Bitcoins.

Fiat currencies are not supported.

❌ Difficult enough for beginners.

Conclusion

The Deribit platform includes a number of features that can help outperform popular marketplaces like BitMEX or Digitex. Confused only by the lack of clarity regarding the rules established by the European Union. Deribit is not regulated in any way and does not support fiat money payments. In addition, for residents of some countries, work with the platform is not available – for example, Canada and the United States.

However, Deribit is a viable alternative to other BTC futures exchanges. It gives experienced futures and options traders the functionality they need, as well as a wide range of trading and analytical tools.

Leave A Reply

Your email address will not be published.