Delta Exchange
Delta Exchange is a Mumbai-based, FIU-registered cryptocurrency derivatives exchange serving Indian retail traders with INR-settled futures and options on Bitcoin and Ethereum, charging transaction fees of 0.02-0.05% and reporting roughly $2.5 billion in daily trading volume.
- Company typePrivate
- Founded2018
- HeadquartersKingston, Jamaica
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What Delta Exchange does
Delta Exchange is an India-focused cryptocurrency derivatives exchange operated by Excelium Technologies Private Limited and headquartered in Mumbai. Founded in 2018 by Pankaj Balani (CEO), Jitender Tokas (CBO), and Saurabh Goyal (CTO), the platform enables retail traders to access Bitcoin and Ether derivatives with INR settlement, avoiding direct crypto ownership and the associated 1% TDS and 30% flat tax. The company is registered with India's Financial Intelligence Unit (REID: VA00041101) under PMLA, placing it among the 97 FIU-registered platforms serving India's roughly 119 million crypto users after the 2023 regulatory crackdown on foreign exchanges.
The platform's core products are crypto futures (perpetual and expiry contracts with up to 200x leverage and daily/weekly/monthly expiries), crypto options (full chain with Greeks, deep OTM/ITM strikes), and — as of April 2026 — INR-settled spot trading for BTC, ETH, SOL, and XRP. Underlying technology includes a smart margining system, basket orders with margin offsetting, a strategy builder, real-time PnL analytics, and AlgoHub, an algorithmic-trading marketplace. A public REST API and a broker integration with TradingView extend distribution. The exchange is differentiated by small retail contract sizes (BTC ~Rs 5,000, ETH ~Rs 2,500) and an INR-first user experience with UPI and IMPS on-ramps.
Delta generates revenue primarily through transaction fees: 0.02% maker / 0.05% taker on futures, 0.01% on options, and 0.1% on the seller side of spot, plus deposit/withdrawal charges. The go-to-market is product-led and self-serve, with KYC onboarding under one minute, mobile-app support, and grassroots marketing through social channels (X, Instagram, YouTube, LinkedIn, Telegram) and crypto events such as the TokenIQ carnival in Bengaluru. Reported daily trading volume reached approximately $2.5 billion by May 2025 with a single-day peak near $4 billion, positioning Delta among the largest crypto derivatives providers in India.
Delta Exchange firmographics
Firmographics- Name
- Delta Exchange
- Legal name
- Excelium Technologies Private Limited
- Website
- https://www.delta.exchange
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Delta Exchange is a Mumbai-based, FIU-registered cryptocurrency derivatives exchange serving Indian retail traders with INR-settled futures and options on Bitcoin and Ethereum, charging transaction fees of 0.02-0.05% and reporting roughly $2.5 billion in daily trading volume.
- Ownership category
- akta.pro rank
Delta Exchange industry classification
Industry- Product category
- Cryptocurrency Derivatives Exchange
- NAICS
- Commodity Contracts Intermediation (523160), Securities and Commodity Contracts Intermediation and Brokerage (5231)
- 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 industry
- Institutional Spot Exchanges & Broker-Dealers (FSADAAAC)
Keywords
Where Delta Exchange is headquartered
LocationHeadquarters
- HQ city
- Kingston
- HQ country
- Jamaica
- HQ region
- Latin America
Offices1 record
Markets served
Delta Exchange business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations, Others
Revenue model
- Trading Fees - Futures: Taker fees at 0.05% and maker fees at 0.02% for futures contracts
- Trading Fees - Options: Taker fees at 0.01% for options contracts
- Spot Trading Fees: Zero fees for buyers, 0.1% fees for sellers on spot trading launched April 2026
- Deposit/Withdrawal Fees: Fees charged on deposits from User Bank Account to Our Bank Account, inclusive of GST
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Futures Trading - Standard fees |
| Transaction based/ take rate | Pay-as-you-go | Options Trading - Standard fees |
| Transaction based/ take rate | Pay-as-you-go | Spot Trading - Zero fee for buyers |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels9 records
Delta Exchange product offering
Product offeringCore offering
Delta Exchange India is an FIU-registered cryptocurrency derivatives exchange offering futures and options on Bitcoin and Ethereum with INR settlement, 24/7 markets, and up to 200x leverage. The platform enables Indian traders to access crypto F&O instruments without owning underlying crypto, with INR deposits and withdrawals via UPI and IMPS, and expanded into spot trading for BTC, ETH, SOL, and XRP in April 2026. Additional offerings include an algorithmic trading marketplace (AlgoHub), basket orders, strategy builders, and real-time PnL analytics.
Product overview
Delta Exchange India is a FIU-registered cryptocurrency derivatives exchange operated by Excelium Technologies Private Limited, offering a unified platform for crypto futures and options trading. The platform provides INR-settled trading on Bitcoin and Ethereum with up to 200x leverage, available 24/7/365. The core product suite consists of Crypto Futures Trading (perpetual and expiry contracts with smart margining) and Crypto Options Trading (full options chain with Greeks). In April 2026, the platform expanded with Crypto Spot Trading for BTC, ETH, SOL, and XRP, enabling zero-fee spot trading alongside derivatives. Additional modules include AlgoHub for algorithmic trading strategies, basket orders with margin offsetting, and strategy builders. The platform integrates with UPI and IMPS for seamless INR deposits and withdrawals, and offers demo trading via testnet.
Differentiator
Problem solved
Functional benefit
Products and services
- Crypto Futures Trading Perpetual and expiry futures contracts on BTC and ETH with leverage up to 200x, daily/weekly/monthly expiries, smart margining, and INR-settled P/L for Indian retail traders seeking crypto derivatives exposure.
- Crypto Options Trading Options contracts on BTC and ETH with deep OTM/ITM strikes, daily and weekly expiry, and a full options chain displaying real-time Greeks (Delta, Gamma, Vega, Theta), open interest, volume, and implied volatility for active crypto options traders.
- Crypto Spot Trading INR-settled spot trading for Bitcoin, Ethereum, Solana, and Ripple offering zero fees for buyers and 0.1% fees for sellers, enabling users to move between spot and derivatives within a single platform without stablecoins.
- AlgoHub (Algorithmic Trading Marketplace) In-platform algorithmic trading marketplace where users access, deploy, and manage automated trading strategies including basket orders with margin offsetting and multi-leg strategy builders across futures and options on BTC and ETH.
- Delta Exchange REST API Public REST API enabling developers to access market data, place futures and options orders, manage algo orders, retrieve user data, and integrate with Delta Exchange trading functionality across BTC and ETH derivatives and spot products.
Quantifiable outcome
- Approximately $2.5 billion in daily trading volume by May 2025
- +3 more outcomes
Companies that use Delta Exchange
Customer profileSegments3 records
Ideal customer profiles3 records
Delta Exchange technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature7 records
Delta Exchange partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- TradingViewcoreTradingView added Delta Exchange as a broker partner, enabling traders in India to trade crypto derivatives directly from TradingView charts. The integration offers up to 200x leverage on perpetual futures and options, with fees starting at 0.02% maker for futures and 0.01% for options. Founded in 2024 and registered with India's Financial Intelligence Unit, Delta Exchange is one of India's largest crypto derivatives providers based in Mumbai.
- FinGradminorDelta Exchange served as Title Partner at TokenIQ, a two-day Web3 and crypto carnival scheduled for March 14-15, 2026, at the Prestige Centre for Performing Arts in Bengaluru, India. The event expected over 4,000 traders, developers, investors, creators, and policymakers. Delta Exchange participated alongside other partners including Shark Exchange, CoinDCX (Gold Partners), CoinSwitch and SunCrypto (Silver Partners), and Mudrex (Bronze Partner).
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Delta Exchange competitors and assessment
Company assessmentDirect peers
- CoinDCX: India-headquartered FIU-registered crypto exchange offering spot, futures, and margin trading to Indian retail traders. Coincided with Delta at the TokenIQ 2026 event as a Gold Partner, indicating direct competition for the same Tier-1 compliant venue position in India.
- CoinSwitch: Major Indian FIU-registered crypto trading platform serving retail users with spot and derivatives products. Directly comparable in geography, regulatory status, and customer base to Delta Exchange.
- Mudrex: India-based crypto investment and trading platform with managed strategies and derivatives access. Appeared as Bronze Partner alongside Delta at TokenIQ 2026, serving the same Indian retail crypto audience.
- SunCrypto: Indian crypto trading platform offering spot and derivatives to retail traders. Silver Partner alongside Delta at TokenIQ 2026, competing for the same Indian F&O trader segment.
- WazirX: India-focused crypto exchange (Binance-affiliated until 2024) that previously dominated the Indian crypto derivatives market. Direct competitor in the same regulatory and customer landscape, though currently restructured following the 2024 security incident.
- Deribit: Leading crypto options exchange (BTC and ETH options) recently acquired by Coinbase. Highly relevant product peer for Delta's options chain offering with Greeks data and deep OTM/ITM strikes.
Broad incumbents
- BitMEX: Pioneer crypto derivatives exchange offering perpetual futures and options on BTC and altcoins. Comparable in product surface (perpetuals, options, high leverage) and crypto-derivatives DNA, but globally distributed rather than India-focused.
- OKX: Global centralized exchange offering spot, futures, and options across hundreds of crypto assets with sophisticated order types. Comparable in core product set (F&O + spot + algo tooling) though at vastly larger scale and with much broader geographic reach.
- Bybit: Global crypto derivatives exchange known for high leverage and derivatives-focused product suite. Comparable to Delta in perpetual futures, options, and retail trader focus, though operating globally and at much larger volume.
- Binance: Largest global crypto exchange offering spot, futures, and options trading across virtually all crypto assets. Comparable in product surface (derivatives, spot, leverage, mobile app) but vastly larger in scale and globally distributed rather than India-focused.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Delta Exchange social profiles
Digital presenceDelta Exchange compliance and trust
Trust signalCompliance1 record
Delta Exchange financial estimates
Financial estimateRevenue estimate
Valuation estimate
Delta Exchange leadership team
Management profileNumber of profiles
Profiles3 records
Delta Exchange funding detail
Funding detailFunding overview
Funding rounds2 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Delta Exchange M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Delta Exchange
What does Delta Exchange do?
Delta Exchange India is an FIU-registered cryptocurrency derivatives exchange offering futures and options on Bitcoin and Ethereum with INR settlement, 24/7 markets, and up to 200x leverage. The platform enables Indian traders to access crypto F&O instruments without owning underlying crypto, with INR deposits and withdrawals via UPI and IMPS, and expanded into spot trading for BTC, ETH, SOL, and XRP in April 2026. Additional offerings include an algorithmic trading marketplace (AlgoHub), basket orders, strategy builders, and real-time PnL analytics.
Is Delta Exchange a public or private company?
Delta Exchange is a private company. It is classified as venture growth investor backed and is currently operating.
When was Delta Exchange founded?
Delta Exchange was founded in 2018. It employs 51 to 100 people.
Where is Delta Exchange based?
Delta Exchange is headquartered in Kingston, Jamaica, in the Latin America region.
How does Delta Exchange make money?
Four revenue lines are on record. Trading Fees - Futures are the primary driver. The others are trading Fees - Options, spot Trading Fees and deposit/Withdrawal Fees.
Who are Delta Exchange's main competitors?
Direct peers on record are CoinDCX, CoinSwitch, Mudrex, SunCrypto, WazirX and Deribit. Broad incumbents are BitMEX, OKX, Bybit and Binance.
Does Delta Exchange have an API?
Yes. Delta Exchange offers a public REST API enabling developers to access markets data, futures and options trading, algo orders, user data, and platform functionality. The API documentation is available at docs.delta.exchange. The platform also offers AlgoHub for algo trading strategies. Developer documentation is at docs.delta.exchange/#introduction.
What industry is Delta Exchange in?
Delta Exchange's product category is Cryptocurrency Derivatives Exchange. Its primary akta.pro industry code is FSADAAAD, Crypto Derivatives Exchanges (Futures, Options & Perpetuals), with a secondary code of FSADAAAC, Institutional Spot Exchanges & Broker-Dealers. Its NAICS code is 523160 and its SIC code is 6200.