Deribit Review 2025

Our Verdict

📅 Deribit is a crypto derivatives exchange launched in 2016, headquartered in Dubai, UAE.
📈 It specializes in options and futures trading, with a smaller spot offering of just 14 pairs.
🪙 Offers free spot trading and low fees for derivatives (as low as -0.01% maker for BTC/ETH futures).
🧰 API support and advanced features like position builders are available for pro traders.
📩 KYC is mandatory.
💳 Only fiat deposits are via third-party providers like Banxa, no ACH, SEPA, or card support.

In my view, Deribit is best suited for advanced users looking to trade derivatives with competitive fees and solid security standards. However, the lack of fiat ramps, limited customer service, and no copy or auto trading tools may deter casual or beginner users.

Deribit Pros and Cons

Is Deribit Right for You?

Traders have different needs: some prefer simple mobile apps, while others look for advanced tools like leverage or social trading. We review exchanges with all trader types in mind, dividing them into seven main groups.

Based on our testing, Deribit is not suitable for DCA, bots, copy trading, or long-term holding. However, it may still be a good fit for other trading strategies. Here’s our verdict:

Supported Countries and Regions

Deribit is available in 173 countries, making it one of the most accessible platforms for derivatives trading. However, availability depends on local regulations and KYC requirements, and some regions are strictly restricted.

Restricted regions include:

• North America: Canada, the US, Virgin Islands (U.S.), and Puerto Rico
• Asia and the Middle East: Iran, Iraq, Japan, Democratic People’s Republic of Korea, Myanmar, Syria, United Arab Emirates (Retail Investors not allowed)
• Africa: Central African Republic, Congo, Libya, Mali, Somalia, Sudan, South Sudan
• Europe: Russian Federation (exemption for nationals from the EEA and Switzerland)
• Caribbean & Oceania: Cuba, Guam, Samoa, Panama (Retail Investors not allowed)

Bonuses and Special Offers

Deribit is not a bonus-heavy platform. It doesn’t offer the kind of welcome incentives or trading contests you’d find on Bitget, Binance, or OKX.

Still, it includes a couple of meaningful perks:

• Affiliate Program: Deribit offers a commission-based referral program. This can be a decent source of passive income for crypto influencers or content creators.
• Free Spot Trading: Unlike other platforms that charge fees, Deribit allows users to access spot trading without transaction charges.

Deribit Background

Deribit was founded in 2016 by brothers John and Marius Jansen in Panama City, with a focus on creating a strong derivatives platform. John comes from a financial background, while Marius has deep roots in crypto and blockchain tech.

Their combined expertise made Deribit one of the most respected platforms in the options and futures space. Deribit is authorized and regulated by the Virtual Assets Regulatory Authority (VARA) and is incorporated in the Dubai World Trade Center under commercial license 2994.

Security and Transparency

Account Security

Deribit offers standard account protection features:

• Two-factor authentication (2FA)
• Email confirmation for withdrawals
• Session tracking and device management

However, it lacks some extras like anti-phishing codes or withdrawal whitelists, which are common on Binance and Bybit.

Proof of Reserves

Deribit ensures full transparency with its Proof of Reserves (PoR), showing that user funds are fully backed, with most assets overcollateralized.

Deribit Insurance Fund

Deribit maintains an insurance fund valued at over $174 million, intended to cover all losses from bankrupt traders. If a trader’s account balance drops below zero after liquidation, Deribit automatically transfers funds from the Insurance Fund to bring the account balance back to zero. This process ensures that other traders are not affected by insolvencies.

Bug Bounty Program

Launched in October 2022, Deribit’s bug bounty program incentivizes white-hat researchers to identify vulnerabilities. Bounties range from $50 to $50,000, with most successful submissions earning between $50-$1,000. The response efficiency rate is reportedly 92%, which is strong.

Corporate Communication Structure and Transparency

Deribit actively communicates with its users through multiple social media channels, keeping them updated on platform changes, market trends, and security advisories.

Deribit’s social media channels are X (Twitter), Reddit, YouTube, LinkedIn, Telegram.

Verified Trusted Scores

Deribit has earned verified scores from trusted third-party security and evaluation organizations. Here is an overview of the ratings:

Know Your Customer (KYC)

KYC is mandatory and processed in two stages:

Is Deribit Safe to Trade With?

Deribit offers a moderate level of security. While the platform doesn’t have the bells and whistles of more retail-focused exchanges, its security framework is transparent and trustworthy, with clear PoR data, a sizable insurance fund, and a bug bounty program.

Trading Experience

Trading Test

For our trading test, we thoroughly evaluated Deribit. Our process included signing up, completing KYC, logging in, depositing funds, and making withdrawals. We tested trading by exploring different pairs and conversions and assessed transfer and withdrawal fees. This comprehensive test enables us to provide an informed review of Deribit’s usability, features, and costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

I started by creating a Deribit account, which only required my email, country, and a password.

KYC was mandatory, so I uploaded my ID and proof of address. Basic verification was completed in under 5 minutes, while address verification took about 24 hours.

Once my account was ready, I logged in using my email, password, and 2FA code.

I deposited $100 worth of USDC via the supported method, and my funds appeared in my balance in less than 5 minutes, a smooth start without any delays.

Step 2: Trading

For my spot test, I chose the SOL/USDC pair and bought SOL at the market price. The order went through instantly, and I wasn’t charged any fee.

I then sold the SOL back to USDC using a stop-limit order. While the execution was quick, I found the spot interface overly “mechanical”; I had to manually add the trading pair to my layout, which might confuse beginners.

Next, I tested futures trading with BTC-Perpetual. I first converted my USDC to BTC, then placed a market buy order. It filled within seconds without any fee, although I did notice some minor glitches between the buy and sell buttons.

Finally, I tried options trading, selecting a BTC contract labeled BTC-13Feb25. I set my RFQ at the market limit and confirmed the buy. The interface here felt cleaner and better arranged than in spot or futures – no glitches, and easy to follow even without being an options expert.

Step 3: Withdrawal

First-time withdrawals require address whitelisting, and since my destination address belonged to another exchange, it took 3 days for approval.

Once whitelisted, I withdrew USDC via the Ethereum network. The fee was 10 USDC, higher than Binance’s 2.5 USDC for the same transaction.

The payout speed, however, was impressive. My funds arrived in my Binance account in just under 4 minutes, faster than what I’ve experienced with exchanges like Tapbit or BYDFi.

Desktop Version

From my perspective, the Deribit desktop platform is a powerhouse for advanced derivatives traders, but it can feel overwhelming for newcomers. There’s no “basic” or “pro” mode; you’re immediately dropped into an advanced environment with customizable layouts, multi-tab navigation, and abundant data panels. While this offers complete control for experienced users, beginners might find the learning curve steep.

Trade Navigation

Navigation in Deribit is structured but requires familiarity with trading platforms:

• Withdrawal Process: It’s simple and takes under three clicks, but first-time withdrawals require address whitelisting (up to three days if from another exchange).
• Search Functionality: Unlike Binance, there’s no universal search to find pairs or features quickly.
• Tabs & Components: You can add new tabs with custom layouts and embed components like liquidation volume, economic calendar, or notes. This level of personalization is rare in competitors like Bitget or BYDFi.

Spot Trading

Spot trading on Deribit provides:

• Real-time charts and order book depth.
• Advanced order form with stop-loss and take-profit settings.
• Customizable pair lists, but you must add them manually.
• Limited crypto selection (40 assets total).

While execution speed is excellent, the interface is not beginner-friendly and feels “mechanical” in setup.

Futures Trading

The futures interface delivers:

• Live funding rates (updated every 8 hours).
• 24h high/low, open interest, and detailed volume stats.
• Position tracker showing leverage and mark price.
• Competitive tick sizes and quick execution.

Glitches between buy/sell buttons can appear occasionally, but the market data depth and customization are strong selling points.

Options Trading

The options platform is arguably Deribit’s most polished feature:

• Detailed call/put columns with delta, bid-ask spread, IV, and open interest.
• Strike range view for ATM strategies.
• Position tracker for open contracts.
• Cleaner layout than spot or futures, smooth even for users new to options.

Risk Management

Deribit offers standard risk management tools such as live PnL tracking, margin monitoring, liquidation price indicators, and funding alerts.

It also uses an incremental auto-liquidation system to close under-margined positions gradually, helping to reduce losses. Additionally, Deribit maintains an insurance fund to cover shortfalls during liquidations. These features are common across top exchanges like Binance, but their presence still reflects Deribit’s commitment to a secure trading environment.

Trading Volume/Assets

As of August 11, 2025 (CoinMarketCap), Deribit held over $5.2 billion in assets, with a daily trading volume of around $2.2 billion. This is smaller than exchanges like Binance ($183B in assets) or OKX ($21B), but higher than platforms such as BingX, Deepcoin, and Pionex. Regarding volume and liquidity, Deribit sits in the mid-tier range among global exchanges.

API Access

Deribit’s API support is extensive:

• Works for spot, futures, perpetual, and options.
• Sandbox and backtesting environment for strategy testing.
• API console to monitor requests, manage keys, and set rate limits.
• Better coverage than exchanges like Tapbit (which only supports spot and futures).

Position Builders

Position Builders act as Deribit’s demo trading mode, but with more depth:

• Simulate PnL, margin balance, equity, and changes in PnL.
• Customize starting portfolio size (e.g., $1,000 or $100,000).
• Ideal for testing multi-leg strategies before committing capital.

Deribit Trading Instruments

Mobile App

Deribit’s mobile app is cleaner and easier to navigate than the desktop version, with almost the same trading functionality. Available on Android and iOS, it offers spot, futures, and options trading, plus TradingView charts and conditional orders. In my opinion, navigation is straightforward, and performance is smooth.

• Trading Features: The Delta One section offers spots, futures, and spreads. The options section shows your calls, all in one interface. Block RFQs is a new Deribit feature. Clicking a crypto pair redirects to trading. Unlike Tapbit, Deribit has nearly identical mobile and desktop features, including TradingView and conditional orders like trailing stops and IOC.
• Watchlist Feature: Deribit doesn’t have a watchlist feature found in Binance, Coinbase, and other exchanges. In my opinion, this might be because of their relatively low number of cryptocurrencies supported.
• Wallet and Withdrawal: To access the wallet, users click the Menu button to see their portfolio with deposit and withdrawal options. Withdrawal on Deribit mobile app is simple, taking less than three clicks to start.
• Market Discovery: Unlike Binance, Deribit lacks a dedicated market discovery section; you can only see top and bottom cryptocurrencies on the home interface.

My Key Takeaways After Testing Deribit (Desktop and Mobile)

Deribit delivers one of the most advanced derivatives trading environments in the industry, both on desktop and mobile. TradingView integration, customizable layouts, and API access make it a strong choice for experienced traders, particularly those active in futures and options.

However, beginners may find the interface overwhelming, and the platform’s asset selection and fiat options are limited.

Fees

Spot Maker/Taker Fees

Our review examines spot fee structures across three tiers based on trading volume, highlighting key savings via native tokens and discounts. The first tier usually covers casual traders trading up to $10,000 monthly, while higher tiers involve more advanced traders. We categorize users by trading style and expenditure, comparing fees with industry standards to assess affordability.

Spot trading on Deribit is completely free, which is a huge advantage compared to other major exchanges. This fee waiver serves as an incentive for traders who regularly participate in spot trading.

Derivatives Maker/Taker Fees

Deribit uses a maker-taker model for derivatives. Fees vary slightly by contract type but remain well below industry averages. Maker fees for BTC and ETH weekly futures are even negative, rewarding liquidity providers.

This fee model positions Deribit as one of the more cost-effective exchanges for derivatives trading, especially for large-volume users or those using market-making strategies.

Deposit & Withdrawal Fees

Deribit exclusively uses third-party payment providers for deposits, which may be less convenient for users who prefer direct banking options like SEPA or ACH transfers.

Crypto withdrawals incur standard network fees based on congestion. There are no added platform fees.

Are Deribit’s Fees Competitive?

Deribit’s fees are highly competitive, especially for spot trading, which is entirely free. Derivative fees are also quite low, particularly for maker orders. The lack of fiat deposit and withdrawal fees might be a downside for some users.

Available Cryptocurrencies

Cryptocurrencies Available at Deribit

Deribit is a highly specialized platform focused on derivatives trading. The exchange supports a small set of major tokens, which may appeal to professional traders but leaves retail users with very limited market exposure. Compared to platforms like Binance or Bybit, Deribit falls short in terms of asset variety and flexibility.

• Major coins: BTC, ETH, and Solana
• Stablecoins: USDT and USDC

There are no trending altcoins, no memecoins, and no ecosystem-based filtering tools like you’d find on platforms with wider listings. If you’re looking to trade newer projects or smaller market cap assets, you’ll need to use another exchange.

Deposits & Withdrawals

Deposit Options

Deposits are exclusively through third-party providers like Banxa and Legend Trading. There’s no support for traditional banking methods.

Note that deposit options can vary significantly from region to region. Always check Deribit’s official site for the most accurate and region-specific deposit information.

Withdrawal Methods

Deribit supports only crypto withdrawals, with no fiat off-ramping available. You can withdraw assets like BTC, ETH, USDT, and others directly to your external wallet.

Daily Withdrawal Limits

Unlike many exchanges, Deribit does not tie withdrawal limits to KYC levels. Instead, users are limited by asset-specific thresholds:

Customer Service

Customer Support Test

To evaluate customer service quality for diverse users, we created a unique trading test. We contact support via all methods, presenting hypothetical problems users might face. We focus on response speed, help quality, and talking to a real person instead of a bot. This measures customer support’s ability to assist active traders and casual investors.

Live Chat Test

Deribit’s live chat is more of a public discussion forum than a real-time support channel. While there is a moderator, responses are sporadic, and the environment feels disorganized, especially when several users post questions simultaneously.

My first question was ignored entirely, and the second one received a short reply within a few minutes. However, the moderator misunderstood a basic concept (third-party insurance), showing limited expertise.

Email Support Test

I sent two separate inquiries to Deribit’s official support email on business days. Neither received a response within 48 hours, which puts Deribit well behind top-tier exchanges in terms of customer service responsiveness. I eventually received a reply after about four days.

Deribit’s response was excellent. They clearly explained how customer assets are stored and secured, and included a link with further details. Despite the delay and spam filter issue, the support content was informative and reassuring.

Overall, Deribit’s customer service is below industry standards, with chaotic forum-style chat and slightly slow email support. Traders needing timely, quality support should consider alternatives like Bybit, Binance, or WhiteBIT.

FAQ