Spot markets are markets in which assets are traded for immediate delivery, meaning that the asset is bought/sold at the current market price and is settled immediately after the trade happens.
In the spot market, the price of the asset is determined by the forces of supply and demand, and it reflects the current market sentiment. Deribit's spot market is open 24/7, and users can trade without any fees or intervention of intermediaries.
Only settled funds are available for spot trading. If a user has any unsettled funds, they will be available for spot trading after daily settlement at 8 AM UTC.
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Spot instrument trades are settled immediately, there are no positions on spot instruments
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Buying on a spot instrument would buy the base currency which is paid with quoted currency.
Example: Buying 0.1 BTC on BTC_USDC at price $100.000. The BTC equity would increase with 0.1 BTC, the USDC equity would decrease with 10,000 USDC
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Selling on a spot instrument would sell the base currency to receive the quoted currency
Example: Selling 0.1 BTC on BTC_USDC at price $100.000. The BTC equity would decrease with 0.1 BTC, the USDC equity would increase with 10,000 USDC
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The orders placed are counted against the currency used. Please see "account order and size limits" for the current limitations
Example: placing a buy order for 0.1 BTC on BTC_USDC will be counted as USDC order, USDC is spend (equity decreased) to execute the order.
Example: placing a sell order for 0.1 BTC on BTC_USDC will be counted as BTC order, BTC is spend (equity decreased) to execute the order.
Spot reserve is an indicator for the user, how much of the portfolio is currently “reserved” in outstanding spot orders.
When a user is liquidated due to violation of maintenance margin of derivative positions, the liquidation process firstly attempts to recover the margin requirements by cancelling the outstanding relevant (reserving from the required currency) spot orders, before progressing with the regular liquidation process.