Contract Introduction Policy

Daily Expiries

Daily futures expire every day at 08:00 UTC. They are introduced at the same time as the first option contracts for each daily expiry. Up to 4 daily expiries are available for BTC and ETH (inverse and linear); up to 2 dailies are available for AVAX, SOL, XRP, and TRX (linear). A daily expiry will not be added if it already exists as a higher-timeframe expiry on the same date.

Weekly Expiries  

The (bi) weekly futures will have an initial lifetime of two weeks at the time of introduction and will expire every Friday at 08:00 AM UTC. A weekly expiry will not be added if it already exists as a quarterly expiry.

Monthly Expiries 

Unless otherwise stated below, the monthly futures will have an initial lifetime of two months at the time of introduction and will expire the last Friday of the month at 08:00 AM UTC. A new monthly expiry will be launched at every monthly expiry. For example, July futures will be launched at the end of May.

Quarterly Expiries  

1, 2, 3, 4 quarterlies of March, June, September and December. Quarterly futures expire on the last Friday of each calendar quarter at 08:00 AM UTC. A new future with a new expiry will be added on the last Friday of each calendar quarter at 08:00 AM UTC.

Futures 

BTC (inverse) 

BTC (linear) 

ETH (inverse) 

ETH (linear) 

BTC DVOL 

AVAX, SOL, XRP, TRX (linear)

Expiries available

1, 2, 3, 4 dailies

1, 2, 3 weeklies

1, 2, 3 monthlies

1, 2, 3, 4 quarterlies of March, June, September and December.

Daily futures are listed at the same time as the first option contracts for each daily expiry.

1, 2, 3, 4 dailies

1, 2 weeklies

1, 2 monthlies

1 quarterly

Listed at the same time as the first option contracts for each expiry.

1, 2, 3, 4 dailies

1, 2, 3 weeklies

1, 2, 3 monthlies

1, 2, 3, 4 quarterlies of March, June, September and December.

Daily futures are listed at the same time as the first option contracts for each daily expiry.

1, 2, 3, 4 dailies

1, 2 weeklies

1, 2 monthlies

1 quarterly

Listed at the same time as the first option contracts for each expiry.

1 monthly (listed one week before the expiry of the existing one (Wednesday))

1, 2 dailies

1, 2 weeklies

1 monthly

1 quarterly

Listed at the same time as the first option contracts for each expiry.

Options 

BTC (inverse) 

BTC (linear) 

ETH (inverse) 

ETH (linear) 

AVAX, SOL, XRP, TRX 

Expiries Available

1, 2, 3, 4 dailies

1, 2, 3 weeklies

1, 2, 3 monthlies

1, 2, 3, 4 quarterlies of March, June, September and December.

1, 2, 3, 4 dailies

1, 2 weeklies

1, 2 monthlies

1 quarterly (listed 4 expiration months and 22 days before)

1, 2, 3, 4 dailies

1, 2, 3 weeklies

1, 2, 3 monthlies

1, 2, 3, 4 quarterlies of March, June, September and December.

1, 2, 3, 4 dailies

1, 2 weeklies

1, 2 monthlies

1 quarterly (listed 4 expiration months and 22 days before)

1, 2 dailies

1, 2 weeklies

1 monthly (The new monthly expiry will be introduced 22 days prior to the expiration of the existing monthly contract, so there will usually be 2 monthly expiries)

1 quarterly (listed 4 expiration months and 22 days before)

Introduction and expiry time 

There will sometimes be more expiries available than the above table would imply, due to the timing of introductions. For example, new weekly/monthly/quarterly option expiries are often introduced on Thursdays, resulting in 1 day where there are more expiries available than shown in the above table.

Daily options expire every day at 08:00 UTC. Weekly options expire on each Friday of each week at 08:00 UTC. Monthly options expire on the last Friday of each calendar month at 08:00 UTC. Quarterly options expire on the last Friday of each calendar quarter at 08:00 UTC.

For strike interval purposes, all daily options (1d, 2d, 3d, and 4d) fall within the ≤ 4 days bracket and use the same (tighter) strike intervals. The 1 week bracket applies only to weekly expiries with more than 4 days remaining.

Intervals 

The following tables are meant as a guide only. Deribit may alter the strike intervals for several reasons, including: recent volatility, the underlying price, liquidity, and user demand. 

Deribit introduces call options with a delta range of 0.1 to 0.9 and put options with a delta range of -0.1 to -0.9.The intervals are shown in the diagram below, however, they might deviate as the number of strikes required to reach the 0.1 delta level might differ.

At introduction, Deribit shall make available the ATM strike and subsequent strikes above and below the ATM level with the intervals as shown in the table below. Depending on the price moves of the underlying instrument, Deribit may introduce additional new strikes. 

The series intervals offered by Deribit are based on the remaining lifetime till maturity. By definition, the intervals will be smaller for series with a shorter remaining lifetime compared to the series with a longer remaining lifetime.

Time to Expiry 

ATM 

Outer  

Wings  

≤ 4 days

$500

$500

$1,000

1 week 

$1,000

$2,000

$5,000

1 month 

$1,000

$2,000

$5,000

3 months 

$2,000

$5,000

$10,000

Time to Expiry 

ATM 

Outer 

Wings 

≤ 4 days

$25

$50

$100

1 week 

$50

$100

$200

1 month 

$50

$100

$200

3 months 

$100

$200

$500

AVAX

SOL

TRX

XRP

Daily 

ATM 

0.1

1

0.025

0.025

Daily 

Outer 

0.2

2

0.005

0.05

Weekly 

ATM 

0.2

4

0.005

0.025

Weekly

Outer 

0.5

10

0.01

0.05

Weekly 

Wings 

1

20

0.02

0.1

Monthly 

ATM 

0.2

5

0.005

0.05

Monthly 

Outer 

0.5

10

0.01

0.1

Monthly 

Wings 

1

20

0.02

0.2

Quarterly

ATM

1

5

0.005

0.1

Quarterly

Outer

2

10

0.01

0.2

Quarterly

Wings

5

20

0.02

0.5