Summary of Deribit Crypto Options Exchange Adding Zero-Fee Spot Trading
- Deribit, the world’s largest crypto options exchange by open interest and trading volumes, is introducing a new spot trading feature.
- It will offer three pairs – BTC/USDC, ETH/USDC and ETH/BTC – with zero maker and taker fees.
- The availability of the spot market means traders no longer have to go elsewhere to exchange major cryptocurrencies and can set up multi-leg complex strategies at one place.
Introduction to Deribit Exchange
Deribit is the world’s largest crypto options exchange by open interest and trading volumes. In March, it accounted for 91% of global options open interest of over $13 billion. It launched bitcoin options trading in 2016 and has since expanded into inverse and linear perpetual and futures markets for three base currencies: bitcoin, ether and the dollar-pegged stablecoin USDC.
Spot Trading Feature
The exchange will be introducing a new spot trading feature which will go live on April 24th. It will offer three pairs – BTC/USDC, ETH/USDC and ETH/BTC – with zero maker and taker fees. The availability of spot trading means users can now buy and sell bitcoin (BTC) and ether (ETH) immediately in addition to trading derivatives in which the payment and delivery of the underlying asset are made on a future date. It also means sophisticated traders in one place will be able to set up multi-leg complex strategies involving both the spot market and futures & options contracts.
Benefits for Traders
The presence of this new platform provides many benefits for traders. Makers create orders & wait for them to be filled while takers remove liquidity by taking available orders; both these activities occur without any margin for the exchange as there are no maker or taker fees involved. Furthermore, it provides an exceptional tool for exchanging collateral like BTC & ETH at zero costs enhancing overall user experience when it comes to their financial needs.