Deribit - Revision history

NotATether: Replace Deribit: Coinbase SPA 8 May 2025, closed Aug 2025 under Coinbase, soft SPA/$4.3B closing FV, cite Insights+8-K.

2026-09-22T07:50:18Z

Replace Deribit: Coinbase SPA 8 May 2025, closed Aug 2025 under Coinbase, soft SPA/$4.3B closing FV, cite Insights+8-K.

← Older revision		Revision as of 07:50, 22 September 2026
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	\|website=[https://www.deribit.com/ deribit.com]		\|website=[https://www.deribit.com/ deribit.com]
	}}		}}
	'''Deribit''' is a cryptocurrency options and futures venue~~. It remains an operating brand~~ under [[Coinbase (business)\|Coinbase]] after Coinbase's acquisition of '''Sentillia B.V.''' (Deribit's parent)~~. It is not a defunct exchange~~.<ref name="insights">[https://insights.deribit.com/exchange-updates/deribit-joins-coinbase-unlocking-the-future-of-global-crypto-derivatives/ Deribit Insights: Deribit joins Coinbase (14 Aug 2025)]</ref><ref name="8k">[https://www.sec.gov/Archives/edgar/data/1679788/000167978825000086/coin-20250508.htm Coinbase Form 8-K (8 May 2025)]</ref>		'''Deribit''' is a cryptocurrency options and futures venue under [[Coinbase (business)\|Coinbase]] after Coinbase's acquisition of '''Sentillia B.V.''' (Deribit's parent).<ref name="insights">[https://insights.deribit.com/exchange-updates/deribit-joins-coinbase-unlocking-the-future-of-global-crypto-derivatives/ Deribit Insights: Deribit joins Coinbase (14 Aug 2025)]</ref><ref name="8k">[https://www.sec.gov/Archives/edgar/data/1679788/000167978825000086/coin-20250508.htm Coinbase Form 8-K (8 May 2025)]</ref>

	== History ==		== History ==
	Deribit ~~historically~~ marketed itself as an early venue for cash-settled bitcoin options and futures with margin. Public materials ~~over time~~ also described multi-asset derivatives on the same platform~~. Older wiki and secondary descriptions of index composition, exact leverage marketing, and platform stack details are kept as historical colour unless re-confirmed on current Deribit documentation~~.<ref name="site">[https://www.deribit.com/ Deribit]</ref>		Deribit marketed itself as an early venue for cash-settled bitcoin options and futures with margin. Public materials also described multi-asset derivatives on the same platform.<ref name="site">[https://www.deribit.com/ Deribit]</ref>

	Coinbase and Deribit closing communications positioned Deribit as a major crypto options venue by volume and open interest entering the Coinbase group, while stating that the Deribit brand would continue to operate.<ref name="insights" />		Coinbase and Deribit closing communications positioned Deribit as a major crypto options venue by volume and open interest entering the Coinbase group, while stating that the Deribit brand would continue to operate.<ref name="insights" />
Line 15:		Line 15:
	Deribit continues to offer crypto derivatives (options and futures) under the Deribit brand after the Coinbase transaction. Product availability, margin rules, and geographic access follow Deribit's official terms and disclosures.<ref name="site" /><ref name="insights" />		Deribit continues to offer crypto derivatives (options and futures) under the Deribit brand after the Coinbase transaction. Product availability, margin rules, and geographic access follow Deribit's official terms and disclosures.<ref name="site" /><ref name="insights" />

	Deribit Insights and Coinbase communications around closing described Deribit as a leading crypto options venue by volume and open interest. July 2025 volume and open-interest figures ~~quoted in those posts are company-reported snapshot metrics~~ from that announcement ~~and should not be treated as standing encyclopedia statistics~~.<ref name="insights" />		Deribit Insights and Coinbase communications around closing described Deribit as a leading crypto options venue by volume and open interest, citing July 2025 volume and open-interest figures from that announcement.<ref name="insights" />

	== Coinbase acquisition ==		== Coinbase acquisition ==
	A Stock Purchase Agreement dated '''8 May 2025''' provided for Coinbase's acquisition of Sentillia B.V. Coinbase's Form 8-K for that date describes SPA consideration as cash plus Coinbase Class A stock (~~company filings around that date describe SPA consideration on the order of~~ '''$700 million''' cash plus about '''10.99 million''' Class A shares)~~. Numbers below are filing labels, not freestanding press valuations~~.<ref name="8k" />		A Stock Purchase Agreement dated '''8 May 2025''' provided for Coinbase's acquisition of Sentillia B.V. Coinbase's Form 8-K for that date describes SPA consideration as cash plus Coinbase Class A stock (about '''$700 million''' cash plus about '''10.99 million''' Class A shares).<ref name="8k" />

	Deribit Insights reported that Deribit joined Coinbase when the deal closed in '''August 2025''', with communications dated around '''14 August 2025'''. Later SEC notes ~~discussing~~ acquisition-date fair value ~~on the order~~ of about '''$4.3 billion''' ~~should be read as '''~~closing fair value~~''', not mixed with earlier headline "$2.9 billion"-style press figures~~.<ref name="insights" /><ref name="8k" />		Deribit Insights reported that Deribit joined Coinbase when the deal closed in '''August 2025''', with communications dated around '''14 August 2025'''. Later SEC notes discuss acquisition-date fair value of about '''$4.3 billion''' (closing fair value).<ref name="insights" /><ref name="8k" />

	== See also ==		== See also ==

NotATether: Replace Deribit: Coinbase SPA 8 May 2025, closed Aug 2025 under Coinbase, soft SPA/$4.3B closing FV, cite Insights+8-K.

2026-09-21T13:53:15Z

Replace Deribit: Coinbase SPA 8 May 2025, closed Aug 2025 under Coinbase, soft SPA/$4.3B closing FV, cite Insights+8-K.

← Older revision		Revision as of 13:53, 21 September 2026
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			{{Infobox company
			\|name=Deribit
			\|industry=Crypto options and futures exchange
			\|parent=[[Coinbase (business)\|Coinbase]] (via Sentillia B.V. acquisition)
			\|website=[https://www.deribit.com/ deribit.com]
			}}
			'''Deribit''' is a cryptocurrency options and futures venue. It remains an operating brand under [[Coinbase (business)\|Coinbase]] after Coinbase's acquisition of '''Sentillia B.V.''' (Deribit's parent). It is not a defunct exchange.<ref name="insights">[https://insights.deribit.com/exchange-updates/deribit-joins-coinbase-unlocking-the-future-of-global-crypto-derivatives/ Deribit Insights: Deribit joins Coinbase (14 Aug 2025)]</ref><ref name="8k">[https://www.sec.gov/Archives/edgar/data/1679788/000167978825000086/coin-20250508.htm Coinbase Form 8-K (8 May 2025)]</ref>

	~~'''[https://www.deribit.com/~~ Deribit - ~~Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European~~ options ~~as well as bitcoin~~ futures with margin. ~~It is fastest, most technically advanced bitcoin exchange to date launches~~.		== History ==
	~~Basic purpose~~ of ~~the exchange is~~		Deribit historically marketed itself as an early venue for cash-settled bitcoin options and futures with margin. Public materials over time also described multi-asset derivatives on the same platform. Older wiki and secondary descriptions of index composition, exact leverage marketing, and platform stack details are kept as historical colour unless re-confirmed on current Deribit documentation.<ref name="site">[https://www.deribit.com/ Deribit]</ref>
	* to trade plain European style cash settled options on the Deribit BTC index, ~~with margin~~ and ~~up to 10x leverage;~~
	* to trade futures that settle on ~~the~~ Deribit ~~BTC index, with up to 100x levrage~~.

	Deribit ~~also offers futures~~ and ~~options on altcoins~~, ~~but you cannot trade them directly using bitcoins (you have~~ to ~~buy the altcoin first)~~.		Coinbase and Deribit closing communications positioned Deribit as a major crypto options venue by volume and open interest entering the Coinbase group, while stating that the Deribit brand would continue to operate.<ref name="insights" />

	==~~Features~~==		== Products and operations ==
			Deribit continues to offer crypto derivatives (options and futures) under the Deribit brand after the Coinbase transaction. Product availability, margin rules, and geographic access follow Deribit's official terms and disclosures.<ref name="site" /><ref name="insights" />

	~~===Margin Trading===~~		Deribit Insights and Coinbase communications around closing described Deribit as a leading crypto options venue by volume and open interest. July 2025 volume and open-interest figures quoted in those posts are company-reported snapshot metrics from that announcement and should not be treated as standing encyclopedia statistics.<ref name="insights" />
	~~All funds held in an account will be considered~~ as ~~available margin~~. ~~Equity~~ and ~~margin will fluctuate~~ in ~~the market~~ as ~~prices change~~. ~~If the maintenance margin in an account is higher than equity in an account a margin call is triggered. A users position will be incrementally liquidated in small steps (maximum 10 contract~~/~~margin call) until equity is higher than maintenance margin~~

	==~~=Advanced orders=~~==		== Coinbase acquisition ==
	~~From advanced features helping entering the market, the platform allows placing volatility orders, where the Deribit price engine continuously updates the price~~ of the order ~~as to keep its implied volatility fixed~~. ~~With this feature basic market making is already possible for any trader that opens an account~~.		A Stock Purchase Agreement dated '''8 May 2025''' provided for Coinbase's acquisition of Sentillia B.V. Coinbase's Form 8-K for that date describes SPA consideration as cash plus Coinbase Class A stock (company filings around that date describe SPA consideration on the order of '''$700 million''' cash plus about '''10.99 million''' Class A shares). Numbers below are filing labels, not freestanding press valuations.<ref name="8k" />

	~~===Risk Management===~~		Deribit Insights reported that Deribit joined Coinbase when the deal closed in '''August 2025''', with communications dated around '''14 August 2025'''. Later SEC notes discussing acquisition-date fair value on the order of about '''$4.3 billion''' should be read as '''closing fair value''', not mixed with earlier headline "$2.9 billion"-style press figures.<ref name="insights" /><ref name="8k" />
	~~[https://deribit.com/~~ Deribit~~] has real-time risk management~~ with ~~incremental auto~~-~~liquidation: If an account has a maintenance margin higher than its equity,~~ the ~~Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved~~. ~~Liquidations are small and instantaneous~~, ~~again ensuring fairness for everyone~~. ~~[https://deribit~~.~~com~~/ ~~Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https:~~/~~/www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.~~

	==~~=Index and Delivery Price=~~==		== See also ==
	Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Gemini, Bitfinex, Itbit, Gdax and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%. Bitfinex seems to be permanently excluded from the calculations.		* [[Coinbase (business)]]
			* [[Currency exchange]]
			* Options trading
			* Futures trading

	~~There is a~~ [https://www.deribit.com/~~main#~~/~~prinx_chart stats page~~] ~~dedicated to the price index where you can see at any time which exchanges are actually part of the index at this very moment~~. ~~If the system doesn’t receive any signal from an~~ exchange ~~for more than 3 minutes, this exchange will be taken out of~~ the ~~index calculation.~~		== External links ==
	~~The price used for settlement and delivery~~ of ~~contracts will be calculated as the time weighted average of the~~ Deribit ~~BTC index over the last half hour before expiration. The~~ Deribit ~~BTC index gets calculated every 6 seconds. So the final delivery price is the average of 300 index prices taken in the last 30 minutes before expiration.~~		* [https://www.deribit.com/ Deribit]
			* [https://www.sec.gov/Archives/edgar/data/1679788/000167978825000086/coin-20250508.htm Coinbase Form 8-K (8 May 2025)]
			* [https://insights.deribit.com/exchange-updates/deribit-joins-coinbase-unlocking-the-future-of-global-crypto-derivatives/ Deribit Insights: Deribit joins Coinbase]

	===~~Platform and API~~===		== References ==
	The platform is built on the Erlang/OTP stack prepared to a high load (e.g. like Whatsapp, prepared for a huge amount of concurrent users, ultra low latency and updates without downtime etc). All its data is streamed in real time, through websockets, to client browser as well as it is possible to trade via REST, Websockets API or FIX bridge (see [https://www.deribit.com/docs/api/ API Docs] for more info). The platform can handle hundreds of trades per second from each account, which makes it possible for market makers to quote on all options available on the platform.		<references />

	~~== External Links ==~~
	* [https://www.deribit.com/ Deribit] website.
	* [https://www.deribit.com/docs/ Deribit Documentation]
	* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]
	* [https:/~~/twitter.com/DeribitExchange Deribit Twitter]~~
	* [https://www.youtube.com/watch?v=otOFaNIJ_8w Video about trading BTC futures on Deribit]

	[[Category:Exchanges]]		[[Category:Exchanges]]
	[[Category:~~Stock_Exchanges~~]]		[[Category:Futures Exchanges]]
	[[Category:~~Bonds_Markets~~]]		[[Category:Companies]]
	~~[[Category:Futures_Exchanges]]~~
	~~[[Category:Investing]]~~
	~~[[Category: Financial]]~~
	~~{{wp}}~~

Bitconion at 12:55, 12 January 2020

2020-01-12T12:55:24Z

← Older revision		Revision as of 12:55, 12 January 2020
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	'''[https://www.deribit.io/ Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.		'''[https://www.deribit.com/ Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.
	Basic purpose of the exchange is		Basic purpose of the exchange is
	* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;		* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;
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	===Risk Management===		===Risk Management===
	[https://deribit.io/ Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.io/ Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.		[https://deribit.com/ Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.com/ Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.

	===Index and Delivery Price===		===Index and Delivery Price===
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	== External Links ==		== External Links ==
	* [https://www.deribit.io/ Deribit] website.		* [https://www.deribit.com/ Deribit] website.
	* [https://www.deribit.com/docs/ Deribit Documentation]		* [https://www.deribit.com/docs/ Deribit Documentation]
	* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]		* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]

FilletMignon: Updated outdated information

2019-10-05T16:59:04Z

Updated outdated information

← Older revision		Revision as of 16:59, 5 October 2019
Line 1:		Line 1:

	'''[https://www.deribit.~~com~~/~~reg-1684.6107?q=home~~ Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.		'''[https://www.deribit.io/ Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.
	Basic purpose of the exchange is		Basic purpose of the exchange is
	* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;		* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;
	* to trade futures that settle on the Deribit BTC index, with up to ~~20x~~ levrage.		* to trade futures that settle on the Deribit BTC index, with up to 100x levrage.

			Deribit also offers futures and options on altcoins, but you cannot trade them directly using bitcoins (you have to buy the altcoin first).

	==Features==		==Features==
Line 14:		Line 16:

	===Risk Management===		===Risk Management===
	[https://deribit.~~com~~ Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.~~com~~ Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.		[https://deribit.io/ Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.io/ Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.

	===Index and Delivery Price===		===Index and Delivery Price===
	Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Gemini, Bitfinex, Itbit, Gdax and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%.		Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Gemini, Bitfinex, Itbit, Gdax and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%. Bitfinex seems to be permanently excluded from the calculations.

	There is a [https://www.deribit.com/main#/prinx_chart stats page] dedicated to the price index where you can see at any time which exchanges are actually part of the index at this very moment. If the system doesn’t receive any signal from an exchange for more than 3 minutes, this exchange will be taken out of the index calculation.		There is a [https://www.deribit.com/main#/prinx_chart stats page] dedicated to the price index where you can see at any time which exchanges are actually part of the index at this very moment. If the system doesn’t receive any signal from an exchange for more than 3 minutes, this exchange will be taken out of the index calculation.
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	== External Links ==		== External Links ==
	* [https://www.deribit.~~com~~/~~reg-1684.6107?q=home~~ Deribit] website.		* [https://www.deribit.io/ Deribit] website.
	* [https://www.deribit.com/docs/ Deribit Documentation]		* [https://www.deribit.com/docs/ Deribit Documentation]
	* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]		* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]

Cryptopancakes at 17:19, 9 September 2018

2018-09-09T17:19:58Z

← Older revision		Revision as of 17:19, 9 September 2018
Line 26:		Line 26:

	== External Links ==		== External Links ==
	* [https://www.deribit.com Deribit] website.		* [https://www.deribit.com/reg-1684.6107?q=home Deribit] website.
	* [https://www.deribit.com/docs/ Deribit Documentation]		* [https://www.deribit.com/docs/ Deribit Documentation]
	* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]		* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]

Cryptopancakes at 12:04, 9 September 2018

2018-09-09T12:04:47Z

← Older revision		Revision as of 12:04, 9 September 2018
Line 1:		Line 1:

	'''[https://deribit.com Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.		'''[https://www.deribit.com/reg-1684.6107?q=home Deribit - Bitcoin Futures & Options Exchange]''' is first platform in the world offering plain "vanilla" European options as well as bitcoin futures with margin. It is fastest, most technically advanced bitcoin exchange to date launches.
	Basic purpose of the exchange is		Basic purpose of the exchange is
	* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;		* to trade plain European style cash settled options on the Deribit BTC index, with margin and up to 10x leverage;

Bitconion at 19:46, 23 August 2017

2017-08-23T19:46:04Z

← Older revision		Revision as of 19:46, 23 August 2017
Line 17:		Line 17:

	===Index and Delivery Price===		===Index and Delivery Price===
	Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, ~~Okcoin~~, Bitfinex, Itbit, ~~Coinbase~~ and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%.		Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Gemini, Bitfinex, Itbit, Gdax and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%.

	There is a [https://www.deribit.com/main#/prinx_chart stats page] dedicated to the price index where you can see at any time which exchanges are actually part of the index at this very moment. If the system doesn’t receive any signal from an exchange for more than 3 minutes, this exchange will be taken out of the index calculation.		There is a [https://www.deribit.com/main#/prinx_chart stats page] dedicated to the price index where you can see at any time which exchanges are actually part of the index at this very moment. If the system doesn’t receive any signal from an exchange for more than 3 minutes, this exchange will be taken out of the index calculation.

Bitconion at 19:45, 23 August 2017

2017-08-23T19:45:08Z

← Older revision		Revision as of 19:45, 23 August 2017
Line 29:		Line 29:
	* [https://www.deribit.com/docs/ Deribit Documentation]		* [https://www.deribit.com/docs/ Deribit Documentation]
	* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]		* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]
			* [https://twitter.com/DeribitExchange Deribit Twitter]
			* [https://www.youtube.com/watch?v=otOFaNIJ_8w Video about trading BTC futures on Deribit]

	[[Category:Exchanges]]		[[Category:Exchanges]]

Bitconion: /* Features */

2016-11-16T20:00:29Z

Features

← Older revision		Revision as of 20:00, 16 November 2016
Line 6:		Line 6:

	==Features==		==Features==

			===Margin Trading===
	All funds held in an account will be considered as available margin. Equity and margin will fluctuate in the market as prices change. If the maintenance margin in an account is higher than equity in an account a margin call is triggered. A users position will be incrementally liquidated in small steps (maximum 10 contract/margin call) until equity is higher than maintenance margin		All funds held in an account will be considered as available margin. Equity and margin will fluctuate in the market as prices change. If the maintenance margin in an account is higher than equity in an account a margin call is triggered. A users position will be incrementally liquidated in small steps (maximum 10 contract/margin call) until equity is higher than maintenance margin

			===Advanced orders===
	From advanced features helping entering the market, the platform allows placing volatility orders, where the Deribit price engine continuously updates the price of the order as to keep its implied volatility fixed. With this feature basic market making is already possible for any trader that opens an account.		From advanced features helping entering the market, the platform allows placing volatility orders, where the Deribit price engine continuously updates the price of the order as to keep its implied volatility fixed. With this feature basic market making is already possible for any trader that opens an account.

			===Risk Management===
	[https://deribit.com Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.com Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.		[https://deribit.com Deribit] has real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps, providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone. [https://deribit.com Deribit] aims to never have socialized losses. Its risk management system is built such way that it is extremely difficult to go bankrupt even if one would try to do so. Also [https://www.deribit.com/main#/insurance Deribit insurance fund] to cover bankruptcies is replenished constantly.

			===Index and Delivery Price===
	Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Okcoin, Bitfinex, Itbit, Coinbase and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%.		Deribit has one of the most transparent from bitcoin price indexes – Deribit BTC index. Currently the Deribit BTC index is made up the latest prices from Bitstamp, Okcoin, Bitfinex, Itbit, Coinbase and Kraken. From those 6 exchanges Deribit retrieves continuously best bid and best ask prices and calculates the mid price. Then the highest and lowest price are taken out. The remaining 4 exchanges are then each for 25% accountable for the BTC price index. So at all times there are a maximum of 4 exchanges making up the BTC price index weighting each 25%.

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	The price used for settlement and delivery of contracts will be calculated as the time weighted average of the Deribit BTC index over the last half hour before expiration. The Deribit BTC index gets calculated every 6 seconds. So the final delivery price is the average of 300 index prices taken in the last 30 minutes before expiration.		The price used for settlement and delivery of contracts will be calculated as the time weighted average of the Deribit BTC index over the last half hour before expiration. The Deribit BTC index gets calculated every 6 seconds. So the final delivery price is the average of 300 index prices taken in the last 30 minutes before expiration.

			===Platform and API===
	The platform is built on the Erlang/OTP stack prepared to a high load (e.g. like Whatsapp, prepared for a huge amount of concurrent users, ultra low latency and updates without downtime etc). All its data is streamed in real time, through websockets, to client browser as well as it is possible to trade via REST, Websockets API or FIX bridge (see [https://www.deribit.com/docs/api/ API Docs] for more info). The platform can handle hundreds of trades per second from each account, which makes it possible for market makers to quote on all options available on the platform.		The platform is built on the Erlang/OTP stack prepared to a high load (e.g. like Whatsapp, prepared for a huge amount of concurrent users, ultra low latency and updates without downtime etc). All its data is streamed in real time, through websockets, to client browser as well as it is possible to trade via REST, Websockets API or FIX bridge (see [https://www.deribit.com/docs/api/ API Docs] for more info). The platform can handle hundreds of trades per second from each account, which makes it possible for market makers to quote on all options available on the platform.


	== External Links ==		== External Links ==

Bitconion at 19:55, 16 November 2016

2016-11-16T19:55:13Z

← Older revision		Revision as of 19:55, 16 November 2016
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	* [https://www.deribit.com Deribit] website.		* [https://www.deribit.com Deribit] website.
	* [https://www.deribit.com/docs/ Deribit Documentation]		* [https://www.deribit.com/docs/ Deribit Documentation]
			* [https://www.youtube.com/watch?v=SsKefPGRwS4 Interview with John Jansen, CEO of Deribit]

	[[Category:Exchanges]]		[[Category:Exchanges]]