deribit00

what's deribit?

Deribit is a leading cryptocurrency derivatives exchange specializing in options and futures trading for major assets like Bitcoin, Ethereum, and Solana. It offers advanced trading features including up to 50x leverage on perpetuals and futures, high liquidity, and institutional-grade tools such as block trading and API integration. The platform is known for its dominant position in crypto options markets, handling billions in notional volume during expiries and events. Deribit emphasizes security, with a history of maintaining user funds safe during outages, and provides educational resources like options courses. It serves both retail and institutional traders, recently expanding with partnerships and competitions to boost trading volumes.

Snapshot

Deribit recorded 18.64M XRP options volume, $2.5B options expiry, and $214M inflows.

3H ago
VISIBILITY EVENT

Released the 100th episode of the flagship podcast Crypto Options Unplugged, featuring Standard Chartered's Head of Digital Assets Research Geoffrey Kendrick as a guest.

2D ago
ONCHAIN METRICS

Put open interest reached a record 202,720 contracts on the derivatives platform.

3D ago
MARKET ACTIVITY

Has 115,000 BTC options contracts expire on 2026-02-27 at 08:00 UTC with a notional value of $7.49 billion, max pain price of $75,000, and put/call ratio of 0.76. Total crypto options expiring are $8.8 billion, including $7.8 billion in BTC options and $961 million in ETH options.

1W ago
ONCHAIN METRICS

Has over $2.4 billion in crypto options set to expire on 2026-02-20 at 08:00 UTC, with approximately $2.0 billion in BTC options (put/call ratio 0.59, max pain $70,000) and approximately $404 million in ETH options (put/call ratio 0.75, max pain $2,050).

MARKET ACTIVITY

Experienced notable open interest increase at 1.4 and 1.5 strikes for XRP call and put options expiring on 2026-02-27, with short straddle positions totaling approximately 5,500,000 contracts and $439.12k in premium over four days.

2W ago
VISIBILITY EVENT

Won FOW International Award for Derivatives Trading System of the Year.

FINANCIAL EVENT

Offers free options and entry into a 500 USDC draw as part of a promotional giveaway.

MARKET ACTIVITY

Offers TRX options with $8.25M outstanding notional and a 0.64 put/call ratio, and AVAX options with $3.09M outstanding notional and a 0.41 put/call ratio, as of February 23, 2026.

FINANCIAL EVENT

Runs Chinese New Year rewards program offering free TRX/AVAX options, 5 USDC for $100+ deposits, and 10-30 USDC for $50K-$300K trading with weekly crediting, plus a 500 USDC prize draw for $300K+ traders. Program ends March 10, 2026.

3W ago
MARKET ACTIVITY

Recorded 18.64 million XRP options contracts traded in 24 hours on February 5-6, 2026, comprising 7.39 million call options and 11.25 million put options, representing 98.47% of total XRP options market volume and the highest volume on record.

MARKET ACTIVITY

Reports over $2.5 billion in options set to expire on 2026-02-06, including $2.15 billion in BTC notional and $408 million in ETH notional.

ONCHAIN METRICS

Received $214M in 7-day inflows as of February 4, 2026.

PARTNERSHIP

Operates as a Canton Network Super Validator with weight 1, classified under crypto native infrastructure alongside other validators processing institutional crypto infrastructure.

1M ago
MARKET ACTIVITY

Has approximately $8.27–8.9 billion notional value in Bitcoin options expiring on January 30, 2026 at 8:00 UTC and approximately $1.27–1.3 billion in ETH options expiring at the same time.

MARKET ACTIVITY

Ethereum futures annualized premium on Deribit stands at 3% as of January 26, 2026.

MARKET ACTIVITY

AVAX options launched on Deribit exchange

MARKET ACTIVITY

Launched USDC-settled options trading with multiple expiry types (two daily, two weekly, one monthly, and one quarterly) on Deribit exchange.

2M ago
MARKET ACTIVITY

Experienced approximately $23.6–$23.8 billion in notional value of Bitcoin options expiring on December 26, 2025, representing the largest Bitcoin options expiry in history.

MARKET ACTIVITY

Observed long straddle strategy execution with total premium of approximately $5.36M (60.32 BTC) on 92000 strike for February 27, 2026 expiration over a 24-hour period ending December 23, 2025.

Coinbase acquired Deribit to extend its product suite into derivatives and capital formation, growing institutional derivatives transaction revenue.

End of Year Recap X Space on December 16 at 2 PM UTC features CEO Luuk Strijers, CCO Jean-David Péquignot, and SignalPlus Founder Chris Yu discussing institutional flows, volatility cycles, trader behavior, and 2026 outlook alongside the Coinbase integration.

Options market shows -4 percentage point skew with puts trading at higher implied volatility than calls.

Over $4.3 billion in BTC and ETH options expire at 8:00 UTC tomorrow, with BTC Put/Call ratio at 1.09 (Max Pain: $90K) and ETH Put/Call ratio at 1.24 (Max Pain: $3.1K).

Platform offers 7.5% APR on USDC deposits through the end of 2025.

Deribit-Coinbase integration announced as discussion topic for End of Year Recap scheduled December 16 at 2 PM UTC, with leadership discussing 2025 turning points.

Competitor platform Derive reports competitive RFQ spreads versus Deribit and operates as the only market offering HYPE options trading, with full order books.

For December 1-7 period, block trades achieve $73.6 million in notional volume, with $72.1 million on Deribit and $1.5 million on OKX.

CEO states Bitcoin accounts for over 85% of open interest and approximately 80% of platform volumes, up roughly 10% from 2024 levels, in Forbes coverage.

Large traders execute $1.16M in bull call spreads for December 26, 2025 expiry in past 4 hours, with 3,100 contracts across strikes ranging from 100k to 120k.

Jump Trading-backed competitor Bitnomial receives CFTC regulatory clearance today and positions itself as the "regulated, American" alternative with physically delivered Bitcoin and Ethereum futures and options for U.S. customers.

BTC options recorded highest monthly volume ever in October 2025 at 1.49M contracts, with 2025 YTD volume reaching 10.27M contracts, up 36% from 7.56M in 2024.

ETH call options show $380M open interest at $6.5K strike with additional activity at $4K, $5.5K, and $6K strikes, as traders position for rebound despite 26% quarterly decline.

Five retail traders generate 40.6M+ in RFQ notional volume since competition launch. A 600 BTC block trade executes with $52.5M notional and $1.03M premium on a custom BTC/USD December strategy.

3M ago

Coinbase acquisition completed with retail-friendly UI improvements deployed. Institutional adoption expands to pension funds and universities.

$15.4B in BTC and ETH options expire at 08:00 UTC with BTC put/call ratio of 0.58 (max pain $100K), ETH put/call ratio of 1.00 (max pain $3.4K), and overall open interest approaching platform highs.

RFQ Challenge runs from November 26, 08:00 UTC to December 1, 08:00 UTC, offering daily draws for 150 USDC to traders who complete one RFQ trade per day, with increased odds for executing more RFQs.

Vault deposits reach 47M USDC with 315 active traders participating in weekly reward draws for balances maintained 7+ days.

153,778 BTC options contracts ($13.3B notional) expire on November 28, 2025 at 8:00 AM UTC with a put/call ratio of 0.66 and max pain price at $102,000.

Paradigm blocks show a 20K BTC bullish condor with whale targeting year-end BTC price between $106K-$112K.

Weekly block trading volume for November 17-23 totals $521.7M across Deribit ($516.9M) and OKX ($4.8M), up 79% from previous week's $291.4M.

Put options comprise over 65% of all activity in the past week with $75K puts surging as BTC falls below $94K, and $85K put replaces $140K call as the dominant trade per Glassnode.

BTC options open interest reaches all-time high of 492.57K contracts on the platform.

Block trading volume for November 10-16 totals $291.4M across Deribit ($288.7M) and OKX ($2.7M), down from the prior week's $488.8M.

Deribit controls 90% of crypto options flow despite emerging DEX competitors like DeriveXYZ (630M in 30-day notional options volume, 75M TVL), Rysk, Synquote, and Kyan building onchain alternatives with institutional-grade features.

Registration before Nov 17 secures Galactic Booster Pack with 3 exclusive options for BTC, ETH, and SOL, plus chance to receive The Thinker Astronaut collectible.

The Perpetual Battlefield Arena features 5 elimination rounds with registration closing Nov 21 and one champion crowned Dec 22.

Weekly block trading volume totals $488.8M between November 3-9, split between Deribit ($478.4M) and OKX ($10.3M).

Trading competition "Space Edition" launches with SignalPlus partnership, featuring 450,000 USDC prize pool across 7 challenge categories including perpetual battles, team challenges, and referral programs. Registration opens Nov 10-Dec 22, competition runs Nov 17-Dec 22.

A user reports unauthorized access to their Deribit account by a hacker.

Bull call spread activity concentrates in November 2025 BTC options with three trades totaling $4.44M: 4,037 contracts at 102k/110k strikes (28NOV25), 750 contracts at 110k/120k strikes (21NOV25), and 375 contracts at 103k/106k strikes (7NOV25).

Over $5B in BTC and ETH options expire at 8:00 UTC tomorrow, with BTC max pain at $108K and put/call ratio at 0.83, while ETH max pain sits at $3,800 with put/call ratio at 0.9. Open interest concentrates around $100K puts and $120K-$125K calls for BTC, and $3,500 puts and $4,200 calls for ETH.

BTC options OI reaches $41B with November max pain at $110K (104K contracts) and December at $108K (149K contracts), put/call ratio at 0.63, while spot BTC/ETH ETFs turn negative and stablecoin supply exceeds $300B.

Deribit now accepts tokenized money market funds (MMFs) as collateral for trading and margin purposes.

Block trades establish a 1140-contract bull call spread in BTC options expiring September 25, 2026, with 115K and 130K strikes at $2.91 million net premium, driving open interest increases of 101.1% and 91.3% respectively.

The Coinbase acquisition deal is valued at $2.9B according to M&A reports for 2025.

4M ago

Bitwise Solana Staking ETF ($BSOL) records $72 million in trading volume on its second day. SOL 220 call strike for Dec-26-2025 expiry shows a 19,230 contract whale trade with $291K premium, 24h volume of 22.12k contracts, and open interest increase of 35.85% to 81.48k contracts.

127K BTC options worth $14.4B expire Friday at 8AM UTC with max pain price at $114,000 and put/call ratio of 0.76.

Solana options volume reaches 246.7K contracts over 24 hours, with open interest surging 585.7% for the 220 call strike and 336.1% for the 240 call strike on Dec-26-2025 expiry.

Coinbase acquires Deribit in a deal exceeding $1.1B, one of the largest crypto acquisitions in 2025.

Implied volatility drops to low-40s for BTC and high 60s for ETH after BTC spikes to $112K before settling near $110K.

Bitcoin options open interest hits new all-time high of $53.6B notional and 477k contracts. Ethereum options open interest stands at $10.29B notional and 2.6M contracts, below its August 2025 peak of $15.72B.

Bitcoin options open interest reaches all-time high of $50B, with traders positioning puts at $100K strike and building call activity at $120K and above strikes.

Options expiry event at 8:00 UTC tomorrow with over $6B in BTC and ETH contracts expiring. BTC Put/Call ratio stands at 1.03 with Max Pain at $114K, ETH Put/Call ratio at 0.79 with Max Pain at $3,950.

Institutional capital accounts for 85% of activity on the platform, and the platform has completed independent audits for five consecutive years.

Platform almost doubled its 24-hour trading volume record during a recent volatility event, with options volume hitting an all-time high. Market makers reported they couldn't quote on the platform during the extreme trading activity.

On October 9th, announcement of vega limits implemented, affecting options trading mechanics and volatility exposure management.

Pax Gold perpetual contracts with 50x leverage are now available for trading, marking an expansion into commodities/precious metals beyond the existing crypto-focused products.

5M ago

USDC-settled BTC and ETH options are now live with users earning 4% annual yield on USDC holdings, currently supporting only Ethereum ERC-20 USDC.

6M ago

CFTC developments enable potential U.S. market entry through Coinbase partnership.

Trading competition concludes with record $10B volume, showing 10x growth from November launch.

Block trading volume jumps 43% to $763.4M with strengthened market dominance at 71%

Linear BTC and ETH options with USDC settlement launching August 19.

Options traders take significant bullish positions targeting ETH above $5,000 by September.

Strategic shift to USDC-only options expected within 2 years, raising concerns about product deterioration under new ownership.

Leading on-chain options protocol 'derive' emerges as decentralized competitor, with dcf cap holding DRV tokens.

Weekly block trade volume reaches $533M with Deribit capturing 67% market share, indicating strong institutional trading activity and recovered liquidity.

7M ago

Coinbase acquires derivatives exchange Deribit, expanding institutional trading capabilities.

Critical liquidity issues emerge with bid-ask spread 10x wider than competitors and insufficient depth to process $100k orders.

Traders accumulate higher-level BTC call options, indicating preparation for bullish volatility

Bitcoin options implied volatility compresses to 30-60%, moving closer to traditional equity markets and signaling mature institutional infrastructure.

Open interest reaches $24.9B, nearly matching BlackRock's IBIT at $23B, signaling strong institutional participation.

Strategic expansion intensifies with Base-focused acquisitions (Spindl, Iron Fish), AerodromeFi integration for DeFi liquidity, and plans for SEC-approved tokenized stock trading.

Coinbase acquires token management startup LiquiFi, expanding derivatives capabilities two months post-Deribit acquisition.

New AI trading assistant Iris launches with market insights and risk assessment capabilities, offering 200 free monthly queries.

8M ago

Extreme market concentration risk emerges as Binance controls 87% of global taker futures volume, while competing platforms including Deribit collectively account for only 10% market share.

Coinbase acquires platform for $2.9B in May 2025, integrating infrastructure to launch BTC and ETH perpetual futures on July 21st.

Friday's $14B options expiry shows elevated put-call ratio (0.72) with traders targeting $100K-$105K range amid high implied volatility.

$14 billion BTC options expiry scheduled for Friday on derivatives exchange.

Sharp decline in futures basis rate indicates shifting derivatives market sentiment despite maintained 4.5% premium to spot.

New Twitter Spaces initiative targets Chinese trading community, expanding geographical reach.

New 35-day trading competition announced with SignalPlus, featuring 300,000 USDC prize pool and early bird options rewards.

Crypto.com joins in accepting BUIDL as trading collateral, expanding institutional access to Treasury-backed margin trading.

BUIDL tokenized money market fund launches simultaneously on two major platforms through Securitize partnership, enabling U.S. Treasury-backed collateral for derivatives trading.

BlackRock's $2.9B tokenized money market fund approved as trading collateral, expanding institutional trading capabilities.

Block RFQ system processes billions in trading volume, indicating expanded institutional participation.

Weekly block trading volume reaches $396M with 93.5% executed on primary platform and 6.5% on OKX.

9M ago

Coinbase x Deribit strategic relationship highlighted in major M&A discussion at Consensus 2025.

Options open interest shows 5x growth since 2022 with concentrated BTC strike prices between $90K-$180K for December 2025 expiry, while short-dated implied volatility signals increased near-term price volatility.

Coinbase's $2.9B acquisition of Deribit (the leading crypto options venue) is part of a retail investor expansion strategy.

Coinbase confirms $2.9B Deribit acquisition and signals more M&A opportunities specifically for international expansion.