Founded 2016
Headquarters Panama City, Panama
Key People John Jansen, CEO and Co-Founder; Marius Jansen, COO and Co-Founder; and Sebastian Smyczýnski, Co-Founder
Products Bitcoin and Ethereum futures and options trading
Twitter @DeribitExchange
LinkedIn Profile
Facebook Page
Website Deribit Homepage
Blog Insights

Deribit is a Panama-based futures and options trading platform that lists derivatives priced in U.S. dollars for bitcoin and Ether underlying products.


In March 2019, Deribit announced that it was partnering with Caspian, a digital asset management service based in Hong Kong. Caspian integrated its trading platform with Deribit's exchange, allowing Deribit's users to trade using Caspian's software platform.[1][2]

Deribit introduced block trading over Paradigm, an encrypted communications network, in August 2019. Minimum block sizes are 40 bitcoin and 800 Ether. The company's chief operating officer, Marius Jansen, told BNN Bloomberg that Deribit's block trading is not regulated because Dutch law defines a derivative as a cash-settled contract.[3] According to the company's website, the derivatives contracts pay-out in bitcoin at the time weighted average of its BTC index.[4]

On October 31, 2019, Deribit experienced a technical malfunction that caused the price of its BTC perpetual swap contracts to decrease in price by 15 percent. Deribit locked its platform shortly after, announcing via Telegram that the platform had failed to remove incorrect outlier prices from an exchange Deribit uses to calculate BTC's price. Deribit didn't say which exchange this was, though it's possible - though unconfirmed - that it was Coinbase, which was down for about 75 minutes at the same time. Deribit promised to compensate clients who were negatively impacted by the error; the company's COO Marius Jansen estimated the cost of compensation would be around $1.3 million.[5]

Seeking to avoid imposing new European Union know-your-customer (KYC) requirements, the company announced on January 9, 2020, that it was moving its operations and legal status to Panama effective February 10. The new company is DRB Panama Inc. In a blog post at the time, Deribit said, "If Deribit falls under these new regulations, this would mean that we have to demand an extensive amount of information from our current and future customers." Nevertheless, Deribit said it was increasing its KYC requirements, albeit not to European levels, effective with the move to Panama.[6]

Amid the novel coronavirus market upheaval in late winter 2020, liquidations on Deribit caused an almost 50% decline in the holdings of bitcoin in the platform's insurance fund, from 392 on March 11 to 198 on March 13.[7] The company deposited 500 of its own bitcoin in the fund on March 13.[8]

On the morning of August 27, 2020 - a day in which $22.8 million worth of bitcoin options and $6.5 Ether options were due to expire - Deribit suffered an outage. The outage was due to "hardware issues," according to a tweet sent out by the company at about 1 AM CST, and not due to a hacking attack.[9][10] Three hours later, Deribit tweeted that the platform was back online.[11]

Products and services

Deribit offers derivatives products for bitcoin and Ether. They are cash-settled, not physically-settled derivatives of cryptocurrency, so they are paid out in USD. Their maximum allowed position is $10,000,000 worth of bitcoin, or $5,000,000 worth of Ether. Fees follow the maker-taker pricing model, which gives rebates to market makers and charges fees to customers (takers). Bitcoin futures orders receive a 0.02% rebate, while customers are charged 0.05%.

Perpetual contracts

Similar to cryptocurrency trading platforms like BitMEX and OKEx, Deribit offers perpetual contracts for bitcoin and Ether.[12]


Deribit offers options contracts for both bitcoin and Ether - both of which are cash-settled, like Deribit's other products. Deribit's options contracts are traded "European Style," meaning that they can only be exercised at expiration.[13]

Block trades

Deribit offers block trading, which allows companies to make large, non-public transactions at agreed-upon prices through its partnership with the fintech firm Paradigm. Deribit has an insurance fund to cover losses from bankrupt traders.[14]

Key people

  • John Jansen - CEO and Co-Founder
  • Marius Jansen - COO and Co-Founder
  • Sebastian Smyczýnski - Co-Founder


  1. Galaxy Capital-Backed Caspian to Offer Crypto Derivatives Trading. Coindesk.
  2. Caspian Integrates with Deribit to Become the First Institutional Platform to Offer Both Options and Futures Crypto Trading. Caspian.
  3. Cryptocurrency Exchange Introduces Block Trading for Derivatives. BNN Bloomberg.
  4. Deribit Futures. Deribit.
  5. Deribit's bitcoin contract price flash crashes 15% due to an error; COO says it cost $1.3M. The Block Crypto.
  6. Deribit moving to Panama + KYC February 2020. Deribit.
  7. Derivatives market liquidations push BitMEX's insurance fund to all-time high, cut Deribit's by almost half. The Block Crypto.
  8. @DeribitExchange. Twitter.
  9. Deribit Suffers Outage Over ‘Hardware Issues,’ May Miss Thursday’s Options Expiry. Coindesk.
  10. Deribit is experiencing hardware issues and restoring trading will unfortunately take longer than anticipated. We will inform you once we have more information. We are not hacked and your funds are safe. Apologies for the inconvenience.. Twitter.
  11. Unscheduled Maintenance update Deribit platform is back online, orders can be cancelled only for the next 5 minutes. After final checks platform will go live for trading at 9:27 UTC.. Twitter.
  12. Deribit Futures. Deribit.
  13. Options. Deribit.
  14. Cryptocurrency Exchange Introduces Block Trading for Derivatives. BNN Bloomberg.
Last modified on 4 May 2021, at 15:51