What Deribit does

Deribit is a centralized cryptocurrency derivatives exchange founded in 2016, currently operating as a wholly owned subsidiary of Coinbase Global, Inc. following a $2.9 billion acquisition that closed in August 2025 — the largest acquisition in crypto history. The platform offers Options, Perpetuals, Futures, and Spot trading on BTC, ETH, SOL, AVAX, TRX, and USDC-settled instruments, built on a unified matching engine with institutional-grade infrastructure including LD4 colocation, Multicast market data feeds, and a portfolio-margin model. Deribit holds approximately 85% global market share in BTC and ETH options and processed $1,875B in traded volume in 2025, supported by features such as Block Trades, Combos with the tightest spreads, a customizable drag-and-drop UI, and a proprietary DVOL implied-volatility index.

The company monetizes primarily through maker/taker transaction fees on options and futures/perpetuals volume, with additional revenue from block trade and RFQ execution and fiat-gateway spreads. Spot trading was launched in April 2023 at zero fees as a retail acquisition funnel rather than a revenue stream. Deribit serves institutional market makers, hedge funds, quant trading firms, and brokers/prime brokers (including Marex, FalconX, and Copper-integrated clients) as its primary segment, alongside a long tail of retail traders reached through self-serve KYC onboarding, mobile apps, a free Testnet, and a 7,500+ member multilingual support community. Following the Coinbase acquisition, distribution is being extended to U.S. institutional clients via Coinbase Financial Markets under CFTC no-action relief, and the company relocated its headquarters from Amsterdam to Dubai to operate under UAE VASP licensing.

Name

Deribit

Legal name

Deribit

Website

https://deribit.com

Company type

Private

Founded year

2016

Operating status

Acquired

Headcount range

101–250 employees

Short description

Deribit is a centralized crypto derivatives exchange for BTC, ETH, and altcoin options, futures, perpetuals, and spot, serving institutional market makers, hedge funds, and retail traders with ~85% global market share in BTC and ETH options.

Ownership category

akta.pro rank

Product category

Crypto Derivatives Exchange

NAICS

Commodity Contracts Intermediation (523160), Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Crypto Derivatives Exchanges (Futures, Options & Perpetuals) (FSADAAAD)

akta.pro secondary industries

Digital Asset/Crypto Trade Execution Platforms (FSAFANAO), Options (Vanilla) — Venues, Market Makers & Protocols (FSADAGAC), Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

Keywords

• Crypto derivatives exchange
• Bitcoin options trading
• Cryptocurrency futures exchange
• Institutional crypto trading
• Options market maker platform

Headquarters

HQ city

Ermelo

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Options trading fees: Maker/taker fees on options trades across BTC, ETH, SOL, AVAX, TRX and USDC-settled options; options are the largest segment with ~$1.98B in 24h volume.
2. Futures and perpetuals trading fees: Maker/taker fees on futures and perpetual contracts (e.g., BTC-PERPETUAL) across listed assets; 24h futures volume ~$651M.
3. Spot trading (zero-fee): Zero-fee spot trading platform launched April 24, 2023, initially listing three trading pairs — designed to attract retail users and drive cross-sell into derivatives rather than to be a direct revenue source.
4. Block trade and RFQ execution: Institutional block/RFQ execution services, generating fees on large notional trades that occur off the central order book.
5. Fiat on-ramp / fiat gateway spread: Fiat gateway supports 41+ currencies for buying crypto; revenue captured on the spread/fee of the on-ramp.

Pricing tiers

Go-to-market motion6 records

Distribution channels7 records

Marketing channels8 records

Core offering

Deribit operates a centralized crypto derivatives exchange platform offering Options, Futures, Perpetuals and Spot trading across Bitcoin, Ethereum, Solana, AVAX, TRX and USDC-settled instruments. It serves both institutional clients (market makers, hedge funds, quant firms, brokers) and retail derivatives traders with institutional-grade infrastructure including Portfolio Margin, Block Trades, Combos, Multicast market data, LD4 colocation, and a customizable UI, plus fiat on-ramp in 41+ currencies.

Differentiator

Problem solved

Functional benefit

Products and services

• Crypto Options Trading Trading of options contracts on Bitcoin, Ethereum, Solana, AVAX, TRX and USDC-settled options across multiple strikes and expiries; deepest options liquidity with ~$1.98B in 24h volume. For institutional market makers, hedge funds, quant trading firms and advanced retail traders.
• Crypto Futures and Perpetuals Trading Trading of futures and perpetual contracts on cryptocurrencies including BTC-PERPETUAL and other listed assets; ~$651M in 24h futures volume. For institutional and retail derivatives traders.
• Deribit Spot (Zero-Fee Spot Trading) Spot cryptocurrency trading with zero trading commission, designed as a retail funnel into Deribit's broader derivatives ecosystem.
• Deribit Testnet Free, no-KYC test environment using fake funds where users can practice trading and test strategies before going live; supports sub-account-vs-sub-account testing.
• Deribit Mobile App Native mobile application on Apple iOS App Store and Google Play enabling on-the-go trading of options, futures and perpetuals.
• Deribit Trading API and Dev Hub Programmatic REST/WebSocket trading API with full documentation, code examples and a published bug bounty program; supports Multicast market data feeds and is the primary integration surface for institutional and algorithmic traders.
• Deribit Fiat Gateway Fiat on-ramp service supporting 41+ currencies for buying crypto and funding Deribit trading accounts; revenue earned on the spread/fee of the on-ramp.
• Block Trades / Block RFQ Execution Off-book institutional execution service enabling large notional block trades and quote requests with minimal market impact, including the newer Block RFQ feature.

Quantifiable outcome

• ~85% market share in BTC and ETH options
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature14 records

Partnerships

Four partnerships are on record, tiered core, minor and flagship.

• Marex Group plccoreChannel Partner/ Reseller/ Distributor · 1 June 2026Marex was onboarded as a broker on Deribit, expanding its institutional crypto offering to include crypto options, futures, and perpetuals via Deribit. The partnership combines Marex's global infrastructure and risk management with Deribit's deep derivatives liquidity.
• Copper and FalconX (ClearLoop integration)coreTechnology or Integration · 1 December 2025Copper expanded its ClearLoop multi-exchange strategy with FalconX to integrate Deribit, enabling FalconX DMA clients to trade on Deribit with off-exchange custody at Copper. Builds on six years of Copper–FalconX–Deribit work on institutional-grade off-exchange settlement.
• SignalPlusminorGTM or Marketing Partner · 17 November 2025Deribit and SignalPlus launched a space-themed trading competition running November 17 to December 22, 2025, with a $450,000 USDC total prize pool — a co-marketing engagement targeting active Deribit traders.
• Coinbase GlobalflagshipStrategic or Co-development Partner · 1 May 2025Coinbase acquired Deribit for $2.9B in May 2025 — the largest crypto acquisition in history. Deribit was rebranded 'Deribit by Coinbase' and integrated into Coinbase's global liquidity pool and Coinbase Financial Markets (CFTC-regulated FCM), giving U.S. institutional clients regulated access to Deribit's crypto options and perpetuals.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• OKX: Major centralized crypto derivatives exchange offering options, futures, and perpetuals across BTC, ETH, and altcoins. Competes directly with Deribit for institutional and retail crypto derivatives flow, with comparable liquidity and product breadth.
• Bybit: Leading crypto derivatives exchange offering options, futures, and perpetual contracts. Competes head-to-head with Deribit for derivatives share and has been aggressively expanding its options product.
• Binance: World's largest crypto exchange by trading volume, offering options, futures, perpetuals, and spot. The retail derivatives competitor that Deribit's zero-fee spot platform was explicitly launched to counter.
• BitMEX: Crypto derivatives pioneer founded in 2014, originally focused on perpetual swaps and futures. Direct competitor in the crypto derivatives space with overlap in institutional and advanced retail derivatives traders.
• Bitfinex: Long-established crypto exchange offering derivatives products alongside spot. Targets similar advanced/professional crypto traders and competes with Deribit in derivatives and sophisticated trading tools.
• HTX (Huobi): Global crypto exchange offering options, futures, and perpetuals. Competes with Deribit for derivatives volume across Asian and international markets.
• Crypto.com: Crypto exchange offering options, futures, and perpetuals to retail and institutional users. Direct competitor with overlapping derivatives product set targeting similar audiences.

Broad incumbents

• CME Group: Largest regulated derivatives exchange operator offering Bitcoin and Ether futures, and recently expanding crypto options. Represents the regulated-traditional incumbent competing with Deribit for institutional crypto derivatives flow.

Emerging players

• Kraken: Established spot crypto exchange expanding into derivatives via Kraken Futures. Increasingly competes with Deribit across retail and institutional crypto derivatives.
• Bakkt: Regulated digital asset platform offering institutional crypto derivatives products. Partial overlap with Deribit in regulated/institutional derivatives, but smaller scale and narrower product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/DeribitOfficial
• GitHubgithub.com/deribit
• YouTubeyoutube.com/@deribit
• Facebookfacebook.com/deribitexchange
• LinkedInlinkedin.com/company/deribit
• Instagraminstagram.com/deribit

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deribit