Trade on Deribit using Axon Trade FIX API

Trading

The trading session offers a rich set of commands for building a reliable trading application, strategy, or platform. You can open, cancel, or modify orders, request open orders, balances, and positions, and receive notifications in real-time about trading-related events.

List of supported FIX commands on Deribit:

NewOrderSingle

OrderCancelRequest

OrderCancelReplaceRequest

RequestForPositions

MassOrderStatusRequest

TradingSessionStatus

Market Data

Axon Trade also provides real-time normalized market data from Deribit in FIX 4.4 format. The data contains full book updates (L2) + trades and is presented as a full book snapshot followed by a series of incremental updates.

Established in 2016 by John Jansen, Marius Jansen, and Sebastian Smyczýnski, Deribit has evolved into a premier cryptocurrency derivatives exchange, known for its comprehensive trading options. Originally rooted in Europe, Deribit is now based in Panama, a more crypto-friendly jurisdiction. The exchange is designed with a focus on intermediate to advanced traders, providing a platform for futures, options, and perpetual futures contracts, which offer unique opportunities and require a sound understanding of the risks involved.

Key Trading Features

Options Trading. Deribit’s options enable traders to buy or sell assets like BTC or ETH at a specified price on a future date, with the flexibility of choosing whether to execute. Options are divided into calls (right to buy) and puts (right to sell), providing hedging and speculative opportunities in a streamlined interface.

Futures Trading. Futures contracts obligate both buyer and seller to execute the trade on a predetermined date and price, regardless of market conditions. Deribit’s futures are particularly popular among traders aiming to lock in prices or hedge against market movements, ensuring predictable outcomes at contract expiration.

Perpetual Futures. Unique to the derivatives market, perpetual contracts mimic spot trading but with the added advantage of leveraged exposure, allowing traders to capitalize on price movements without expiration dates. This instrument is favored for continuous exposure to the underlying assets without the need to roll over positions.

Spot and Derivatives Trading. In addition to derivatives, Deribit offers spot trading for direct asset ownership. Its comprehensive trading interface supports high-speed executions and an array of order types, making it suitable for both direct asset transactions and speculative derivative trades.

Advanced Order Types

Deribit accommodates a range of advanced order types to meet diverse trading strategies:

• Market Order: Prioritizes speed, executing at the best available price.

• Limit Order: Executes only at a preset price or better, ensuring price control.

• Stop and Take Orders: These conditional orders trigger based on predefined price levels, allowing traders to manage entry and exit points with precision.

• Advanced Combinations: Deribit also supports combinations such as stop-limit orders and market-limit orders, giving traders flexibility to adapt to varying market conditions.

With tools such as "time-in-force" settings, users can determine the duration their orders remain active, enhancing control over their trades.

Security and Risk Management

Deribit employs a multi-layered security framework, combining standard measures like two-factor authentication (2FA) and FIDO security keys with advanced infrastructure safeguards. User funds are primarily stored in cold wallets, reducing exposure to potential threats. The platform’s incremental liquidation system also ensures that traders maintain adequate margins, automatically adjusting positions to meet risk thresholds.

For institutional and high-volume traders, Deribit offers block trades—private transactions for large positions that bypass the public order book to prevent market disruption. Additionally, off-exchange settlement allows for rapid, secure trade settlements without reliance on blockchain confirmations, minimizing latency in fast-moving markets.

Portfolio Margin and Position Builder

Deribit’s portfolio margin feature consolidates margin requirements across all assets, optimizing traders’ capital by reducing the need to maintain separate margins for each position. The Position Builder tool further assists in planning trades by visually mapping out potential gains and losses, allowing traders to forecast outcomes and adjust strategies accordingly.

API and Automation

For algorithmic and high-frequency traders, Deribit offers a robust API, providing comprehensive access to trading data and account management. This feature enables seamless integration with automated trading systems, offering flexibility to develop custom strategies and execute trades programmatically.

Trade on Deribit with Axon Trade

For those looking to enhance their experience on Deribit, Axon Trade offers seamless integration. By leveraging Axon Trade’s FIX API, users gain efficient access to Deribit’s derivative markets with advanced execution tools. Axon Trade’s real-time normalized market data provides immediate insights into market trends, supporting data-driven trading decisions and enhancing overall performance.

Axon Trade’s order and position management system supports high-frequency trading and portfolio management, offering structured data to simplify complex strategies. This integration allows Deribit traders to optimize their activities, whether they’re handling options, futures, or perpetual contracts, making Axon Trade an ideal choice for Deribit users aiming to elevate their trading strategies with accuracy and control.