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.
Spot order routing
Selected spot pairs on Deribit are routed to Coinbase Exchange (CBE). A routed market stays accessible through Deribit, while the underlying liquidity is sourced from Coinbase Exchange. This gives clients deeper liquidity, access to a broader set of assets, and better execution quality, while assets acquired on spot can still be used as collateral within the Deribit ecosystem.
Routed pairs also move from the legacy Deribit spot specifications to Coinbase Exchange specifications. In practice, this means some pairs trade with finer tick sizes, finer base increments, or lower minimum order quantities than before. Review the pair-level specifications below before trading on a routed market.
For assets that are not permitted on Coinbase Exchange, Deribit continues to use the existing Deribit spot book where applicable.
When a market switches to Coinbase Exchange routing, it is paused briefly and all open orders on that book are cancelled before trading resumes under CBE routing.
The specification table lists every spot pair and the book it trades on. Pairs routed to Coinbase Exchange use Coinbase Exchange specifications. All other pairs trade on the Deribit spot book.
Routing is being enabled in phases. HYPE is listed as a spot asset and routed to Coinbase Exchange for migrated users. SEI is not listed on this page until trading is enabled. Additional pairs are announced before they switch to Coinbase Exchange routing.
Two USDT books
USDC/USDT is listed as two instruments on purpose. USDC_USDT trades on the Deribit spot book. USDT_USDC is routed to Coinbase Exchange. Both books are required, because the two client groups cannot share one USDT market.
-
Coinbase clients are backed by Coinbase Inc. That custody supports USDT, so these clients trade USDT on the Coinbase Exchange book (USDT_USDC).
-
Deribit clients custody assets with Fireblocks and Coinbase Prime (Coinbase Custody Trust Company). Coinbase Prime does not support USDT, so these clients cannot trade the Coinbase Exchange USDT book. They trade USDT on the Deribit spot book instead: USDC_USDT, BTC_USDT, ETH_USDT, and USDE_USDT.
After you log in, you see only the USDT book your account can trade. The other book is hidden, because the account is not allowed to trade it.
Instruments shown before you log in
Before you log in, the instrument list matches a native Deribit account. It includes markets every Deribit client can trade, including Coinbase Exchange pairs such as BTC_USDC. Spot instruments that only migrated Coinbase clients can trade are hidden.
After you log in, the list changes to the instruments your account can trade. An instrument can therefore appear or disappear at login. Log in to see the markets available to your account.
Spot fees
Trading fees on a spot market depend on how that market is routed:
-
Pairs routed to Coinbase Exchange are charged trading fees using the Spot column of the Deribit fee schedule. Maker and taker rates follow your VIP tier. Volume for VIP tiers is measured over the last 30 days. Only pairs routed to Coinbase Exchange are charged these fees.
-
Pairs trading on the Deribit spot book are not charged trading fees: both the maker and the taker pay 0%.
Because routing is enabled per pair, Deribit Spot fees apply to a market from the moment it switches to Coinbase Exchange routing. The Order routing column in the specification table shows which book each pair trades on.
Settlements
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.
Supported wallets
Each spot asset is supported on the Coinbase Bermuda (CBBM) wallet, the Deribit native wallet, or both.
-
CBBM and Deribit. The asset can be held in a CBBM wallet and in a Deribit native wallet.
-
CBBM only. The asset can be held in a CBBM wallet only.
-
Deribit native only. The asset can be held in a Deribit native wallet only.
|
Asset |
Name |
Wallet type |
|---|---|---|
|
AAVE |
Aave |
CBBM only |
|
ADA |
Cardano |
CBBM only |
|
AERO |
Aerodrome Finance |
CBBM only |
|
ALGO |
Algorand |
CBBM only |
|
APT |
Aptos |
CBBM only |
|
ARB |
Arbitrum |
CBBM only |
|
ATOM |
Cosmos |
CBBM only |
|
AVAX |
Avalanche |
CBBM only |
|
BCH |
Bitcoin Cash |
CBBM only |
|
BNB |
BNB |
CBBM and Deribit |
|
BONK |
Bonk |
CBBM only |
|
BTC |
Bitcoin |
CBBM and Deribit |
|
BUIDL |
BlackRock BUIDL |
Deribit native only |
|
CBETH |
Coinbase Wrapped Staked ETH |
CBBM only |
|
CRV |
Curve DAO Token |
CBBM only |
|
DOGE |
Dogecoin |
CBBM only |
|
DOT |
Polkadot |
CBBM only |
|
ETH |
Ethereum |
CBBM and Deribit |
|
EURC |
EURC |
CBBM only |
|
FARTCOIN |
Fartcoin |
CBBM only |
|
FIL |
Filecoin |
CBBM only |
|
HBAR |
Hedera |
CBBM only |
|
HYPE |
Hyperliquid |
CBBM only |
|
ICP |
Internet Computer |
CBBM only |
|
INJ |
Injective |
CBBM only |
|
JASMY |
JasmyCoin |
CBBM only |
|
LINK |
Chainlink |
CBBM only |
|
LTC |
Litecoin |
CBBM only |
|
NEAR |
NEAR Protocol |
CBBM only |
|
ONDO |
Ondo |
CBBM only |
|
OP |
Optimism |
CBBM only |
|
PAXG |
Pax Gold |
CBBM and Deribit |
|
PENGU |
Pudgy Penguins |
CBBM only |
|
PUMP |
Pump.fun |
CBBM only |
|
SHIB |
Shiba Inu |
CBBM only |
|
SOL |
Solana |
CBBM and Deribit |
|
STETH |
Staked ETH |
Deribit native only |
|
SUI |
Sui |
CBBM only |
|
TAO |
Bittensor |
CBBM only |
|
UNI |
Uniswap |
CBBM only |
|
USDC |
USD Coin |
CBBM and Deribit |
|
USDE |
Ethena USDe |
Deribit native only |
|
USDT |
Tether |
CBBM and Deribit |
|
USYC |
USYC |
Deribit native only |
|
VET |
VeChain |
CBBM only |
|
XLM |
Stellar |
CBBM only |
|
XRP |
XRP |
CBBM and Deribit |
|
ZORA |
Zora |
CBBM only |
Spot instruments specification
-
Spot instrument trades are settled immediately, there are no positions on spot instruments
-
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
-
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
-
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.
|
Symbol |
Order routing |
Base currency |
Quote currency |
Minimum order size |
Minimum tick size |
|---|---|---|---|---|---|
|
AAVE_USDC |
Coinbase Exchange |
AAVE |
USDC |
0.001 AAVE |
0.01 USDC |
|
ADA_USDC |
Coinbase Exchange |
ADA |
USDC |
0.00000001 ADA |
0.00001 USDC |
|
AERO_USDC |
Coinbase Exchange |
AERO |
USDC |
0.1 AERO |
0.00001 USDC |
|
ALGO_USDC |
Coinbase Exchange |
ALGO |
USDC |
0.1 ALGO |
0.00001 USDC |
|
APT_USDC |
Coinbase Exchange |
APT |
USDC |
0.001 APT |
0.0001 USDC |
|
ARB_USDC |
Coinbase Exchange |
ARB |
USDC |
0.01 ARB |
0.00001 USDC |
|
ATOM_USDC |
Coinbase Exchange |
ATOM |
USDC |
0.01 ATOM |
0.0001 USDC |
|
AVAX_USDC |
Coinbase Exchange |
AVAX |
USDC |
0.00000001 AVAX |
0.001 USDC |
|
BCH_USDC |
Coinbase Exchange |
BCH |
USDC |
0.00000001 BCH |
0.01 USDC |
|
BNB_USDC |
Coinbase Exchange |
BNB |
USDC |
0.00001 BNB |
0.01 USDC |
|
BONK_USDC |
Coinbase Exchange |
BONK |
USDC |
1 BONK |
0.00000001 USDC |
|
BTC_USDC |
Coinbase Exchange |
BTC |
USDC |
0.00000001 BTC |
0.01 USDC |
|
BTC_USDE |
Deribit |
BTC |
USDE |
0.0001 BTC |
1 USDE |
|
BTC_USDT |
Deribit |
BTC |
USDT |
0.0001 BTC |
1 USDT |
|
BUIDL_USDC |
Deribit |
BUIDL |
USDC |
1 BUIDL |
0.0001 USDC |
|
CBETH_USDC |
Coinbase Exchange |
CBETH |
USDC |
0.00001 CBETH |
0.01 USDC |
|
CRV_USDC |
Coinbase Exchange |
CRV |
USDC |
0.01 CRV |
0.0001 USDC |
|
DOGE_USDC |
Coinbase Exchange |
DOGE |
USDC |
0.1 DOGE |
0.00001 USDC |
|
DOT_USDC |
Coinbase Exchange |
DOT |
USDC |
0.00000001 DOT |
0.0001 USDC |
|
ETH_BTC |
Deribit |
ETH |
BTC |
0.0001 ETH |
0.0001 BTC |
|
ETH_USDC |
Coinbase Exchange |
ETH |
USDC |
0.00000001 ETH |
0.01 USDC |
|
ETH_USDE |
Deribit |
ETH |
USDE |
0.0001 ETH |
0.1 USDE |
|
ETH_USDT |
Deribit |
ETH |
USDT |
0.0001 ETH |
0.1 USDT |
|
EURC_USDC |
Coinbase Exchange |
EURC |
USDC |
1 EURC |
0.0001 USDC |
|
FARTCOIN_USDC |
Coinbase Exchange |
FARTCOIN |
USDC |
0.01 FARTCOIN |
0.00001 USDC |
|
FIL_USDC |
Coinbase Exchange |
FIL |
USDC |
0.001 FIL |
0.0001 USDC |
|
HBAR_USDC |
Coinbase Exchange |
HBAR |
USDC |
0.1 HBAR |
0.00001 USDC |
|
HYPE_USDC |
Coinbase Exchange |
HYPE |
USDC |
0.001 HYPE |
0.01 USDC |
|
ICP_USDC |
Coinbase Exchange |
ICP |
USDC |
0.0001 ICP |
0.0001 USDC |
|
INJ_USDC |
Coinbase Exchange |
INJ |
USDC |
0.01 INJ |
0.001 USDC |
|
JASMY_USDC |
Coinbase Exchange |
JASMY |
USDC |
1 JASMY |
0.00001 USDC |
|
LINK_USDC |
Coinbase Exchange |
LINK |
USDC |
0.01 LINK |
0.001 USDC |
|
LTC_USDC |
Coinbase Exchange |
LTC |
USDC |
0.00000001 LTC |
0.001 USDC |
|
NEAR_USDC |
Coinbase Exchange |
NEAR |
USDC |
0.001 NEAR |
0.0001 USDC |
|
ONDO_USDC |
Coinbase Exchange |
ONDO |
USDC |
0.01 ONDO |
0.00001 USDC |
|
OP_USDC |
Coinbase Exchange |
OP |
USDC |
0.01 OP |
0.00001 USDC |
|
PAXG_USDC |
Coinbase Exchange |
PAXG |
USDC |
0.00001 PAXG |
0.01 USDC |
|
PENGU_USDC |
Coinbase Exchange |
PENGU |
USDC |
1 PENGU |
0.000001 USDC |
|
PUMP_USDC |
Coinbase Exchange |
PUMP |
USDC |
1 PUMP |
0.000001 USDC |
|
SHIB_USDC |
Coinbase Exchange |
SHIB |
USDC |
1 SHIB |
0.00000001 USDC |
|
SOL_ETH |
Coinbase Exchange |
SOL |
ETH |
0.0001 SOL |
0.00001 ETH |
|
SOL_USDC |
Coinbase Exchange |
SOL |
USDC |
0.00000001 SOL |
0.01 USDC |
|
STETH_ETH |
Deribit |
STETH |
ETH |
0.0001 STETH |
0.0001 ETH |
|
STETH_USDC |
Deribit |
STETH |
USDC |
0.0001 STETH |
0.1 USDC |
|
SUI_USDC |
Coinbase Exchange |
SUI |
USDC |
0.1 SUI |
0.0001 USDC |
|
TAO_USDC |
Coinbase Exchange |
TAO |
USDC |
0.0001 TAO |
0.01 USDC |
|
UNI_USDC |
Coinbase Exchange |
UNI |
USDC |
0.000001 UNI |
0.0001 USDC |
|
USDC_USDT |
Deribit |
USDC |
USDT |
1 USDC |
0.0001 USDT |
|
USDE_USDC |
Deribit |
USDE |
USDC |
1 USDE |
0.0001 USDC |
|
USDE_USDT |
Deribit |
USDE |
USDT |
1 USDE |
0.0001 USDT |
|
USDT_USDC |
Coinbase Exchange |
USDT |
USDC |
0.01 USDT |
0.00001 USDC |
|
USYC_USDC |
Deribit |
USYC |
USDC |
1 USYC |
0.0001 USDC |
|
VET_USDC |
Coinbase Exchange |
VET |
USDC |
1 VET |
0.000001 USDC |
|
XLM_USDC |
Coinbase Exchange |
XLM |
USDC |
0.00000001 XLM |
0.000001 USDC |
|
XRP_USDC |
Coinbase Exchange |
XRP |
USDC |
0.000001 XRP |
0.0001 USDC |
|
ZORA_USDC |
Coinbase Exchange |
ZORA |
USDC |
1 ZORA |
0.000001 USDC |
For every pair in the table, the underlying is the Deribit index for that symbol, the type and category are Spot, and trading hours are 24/7. Settlement is immediate. Trading bandwidths are determined by risk management and based on a risk matrix. There is no margin required: the full amount that will be traded has to be available when submitting an order, and maintenance margin is not required.
Spot reserve
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.
API usage
Spot markets uses the same API endpoints as futures. There are no specific endpoints dedicated to a spot market. It is also supported by Deribit's Multicast, FIX and Historical APIs under the same endpoints/messages.
For venue identifiers and trading spot via API, see Spot trading venues. For collecting market data, see Market data collection - Best Practices.