[Exchanges](https://revain.org/exchanges/) › Deribit

# Deribit: licences, security, fees and reviews

Centralized exchange

## In short

- **Legal entity**: Deribit FZE, Dubai World Trade Centre, commercial licence L-2994
- **Fees**: Futures maker: 0.015% (1.5 bps) at the Standard tier, perpetuals and futures (as of 31 October 2026)
- **Risks and caveats**: Derivatives are leveraged: a client can lose all assets deposited, and positions may be liquidated without prior notice when margin falls short.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2016
- **Country of registration**: United Arab Emirates
- **Operator**: Deribit FZE (Dubai); clients may also be onboarded with DRB Panama Inc.; part of Coinbase since August 2025
- **Official site**: [deribit.com](https://www.deribit.com/)

Key facts checked on 31 October 2026 against official sources and regulator registers.

## What is Deribit

Deribit is a centralised crypto derivatives exchange specialising in options, futures and perpetuals, launched in June 2016 as a bitcoin-only platform. It is operated by Deribit FZE, licensed by Dubai's VARA, and has been part of Coinbase since August 2025. It also offers spot markets.

## Good to know

- Clients face one of two legal entities: Deribit FZE in Dubai, or DRB Panama Inc. The account's legal page shows which one applies. [↗](https://support.deribit.com/hc/en-us/articles/26533163120413-Custody-Options)
- DRB Panama Inc. describes itself as an unregulated broker that routes client orders to the exchange run by Deribit FZE. [↗](https://support.deribit.com/hc/en-us/articles/25944471089437-Terms-of-Service-DRB-Panama-Inc)
- The VARA licence covers crypto-to-crypto activity only: no fiat deposits, withdrawals or transactions. [↗](https://support.deribit.com/hc/en-us/articles/25944499603357-Regulation-And-Governance)
- The platform is closed to US, Canadian and Japanese residents, among others; UK retail clients are not accepted, and UAE and Panama retail clients may trade spot only. [↗](https://support.deribit.com/hc/en-us/articles/25944487427741-Restricted-Jurisdictions)
- Since the Coinbase acquisition, former institutional Coinbase International Exchange accounts are migrated to Deribit's matching engine. [↗](https://support.deribit.com/hc/en-us/articles/39354139215389-Institutional-Client-Migration-Guide)
- Session profits can only be withdrawn after the daily settlement at 08:00 UTC, because of the socialised-loss system. [↗](https://www.deribit.com/)
- Some spot pairs are routed to Coinbase Exchange and charged fees; pairs on Deribit's own spot book are charged 0%. [↗](https://support.deribit.com/hc/en-us/articles/25944746248989-Fees)

## Services

| Parameter | Details |
|---|---|
| Derivatives | Inverse BTC and ETH options, futures and perpetuals; USDC-settled options, perpetuals and futures on several altcoins; DVOL volatility futures. |
| Spot trading | Spot markets, including some yield-bearing assets and gold. |
| Margin | Standard margin and portfolio margin models. |
| Custody / wallet | Exchange custody plus off-exchange and third-party custody options for institutional clients. |
| Fiat deposits | Not offered: accounts are funded in crypto such as BTC, ETH or USDC. |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| United Arab Emirates (Dubai) | Deribit FZE | VASP Licence VL/23/12/002: Exchange Services (including exchange-traded derivatives) and Broker-Dealer Services; issued 1 November 2024; status Active | [Virtual Assets Regulatory Authority (VARA)](https://www.vara.ae/en/licenses-and-register/public-register/) |
| Panama | DRB Panama Inc. | Unregulated broker (company statement); no licence | — |

## Security and audits

- Most client assets are held in cold wallets with offline signing; only a small balance sits in a hot wallet for withdrawals.
- Cold-wallet custody uses Fireblocks self-custody and third-party custodians including Coinbase Custody Trust Company, Zodia Custody, BitGo Bank & Trust and Fidelity Digital Assets.
- Client virtual assets are kept in wallets separate from Deribit's own.
- Deribit reports ISO 27001 (October 2023), SOC 2 Type II (November 2024) and CCSS Level III certifications.
- An insurance fund covers bankrupt traders' negative equity; Deribit states that no socialised loss event has occurred.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| 1 November 2022 | Hack: Just before midnight on 1 November 2022 Deribit's hot wallet was compromised and assets worth USD 28m in BTC, ETH and USDC were stolen. Deribit states that trading, client assets, the Insurance Fund and its cold storage were not affected; on-chain withdrawals were re-enabled on 2 November after the hot wallet setup was moved to Fireblocks with manual confirmation of withdrawals. Funds returned: Deribit stated that the loss is covered by company reserves. | [insights.deribit.com](https://insights.deribit.com/exchange-updates/1-november-incident-report-and-next-steps/) |

## Fees

| Parameter | Details |
|---|---|
| Futures maker | 0.015% (1.5 bps) at the Standard tier, perpetuals and futures (as of 31 October 2026) |
| Futures taker | 0.035% (3.5 bps) at the Standard tier, perpetuals and futures (as of 31 October 2026) |
| Options | 0.03% of the underlying for maker and taker, capped at 12.5% of the option premium, Standard tier (as of 31 October 2026) |
| Spot maker | 0% on Deribit's own spot book; 0.02% maker / 0.05% taker on pairs routed to Coinbase Exchange, Standard tier (as of 31 October 2026) |
| Deposits | Free (third parties may charge their own fees) (as of 31 October 2026) |
| Withdrawals | Varies by coin and network conditions; shown on each withdrawal page (as of 31 October 2026) |

## Who can use it

- Verification: Identity verification (KYC) is required before any deposit, withdrawal or trading.
- Not available in the US and US territories, Canada, Japan, Belarus, Russia, Cuba, Iran, Iraq, North Korea, Syria, Myanmar, Libya, Somalia, Sudan, South Sudan, Yemen, CAR, Congo and occupied Ukrainian regions; no UK retail; UAE and Panama retail: spot only.

## History

| Date | Event |
|---|---|
| 2014 | Founders John and Marius Jansen start the project. |
| June 2016 | Deribit launches as a bitcoin-only trading platform. |
| October 2023 | Deribit receives ISO 27001 certification. |
| 1 November 2024 | VARA's register shows the Deribit FZE VASP licence issued. |
| 8 May 2025 | Deribit announces an agreement to be acquired by Coinbase. |
| 13 August 2025 | Coinbase closes the acquisition; Deribit becomes part of Coinbase. |

## Risks and caveats

- Derivatives are leveraged: a client can lose all assets deposited, and positions may be liquidated without prior notice when margin falls short.
- Clients onboarded with DRB Panama Inc. deal with an entity that states it is unregulated.
- If the insurance fund were ever depleted, losses would be socialised among winning traders for that day.
- Not available to residents of the United States, Canada, Japan and several other countries; no fiat on- or off-ramp.

## About the company

- **Legal entity**: Deribit FZE, Dubai World Trade Centre, commercial licence L-2994
- **Legal entity**: DRB Panama Inc., Panama City (broker entity)
- **Parent company**: Coinbase (acquisition closed in August 2025)
- **Headquarters**: Dubai, United Arab Emirates (originally founded in the Netherlands)
- **Founders**: John Jansen and Marius Jansen
- **CEO**: Luuk Strijers

## Official links

- Website: [www.deribit.com](https://www.deribit.com/)
- Fees: [support.deribit.com/hc/en-us/articles/25944746248989-Fees](https://support.deribit.com/hc/en-us/articles/25944746248989-Fees)
- Licences: [support.deribit.com/hc/en-us/articles/25944499603357-Regulation-And-Governance](https://support.deribit.com/hc/en-us/articles/25944499603357-Regulation-And-Governance)
- Terms of use: [support.deribit.com/hc/en-us/articles/25944471089437-Terms-of-Service-DRB-Panama-Inc](https://support.deribit.com/hc/en-us/articles/25944471089437-Terms-of-Service-DRB-Panama-Inc)
- Security: [support.deribit.com/hc/en-us/articles/25944737947805-Certifications](https://support.deribit.com/hc/en-us/articles/25944737947805-Certifications)
- Blog: [insights.deribit.com](https://insights.deribit.com/)

## Questions and answers

**Is Deribit regulated?**

Deribit FZE holds a VASP licence from Dubai's VARA (VL/23/12/002) for exchange, including exchange-traded derivatives, and broker-dealer services. DRB Panama Inc., the other client-facing entity, states it is unregulated.

**Who owns Deribit?**

Coinbase. The acquisition was announced on 8 May 2025 and closed in August 2025.

**What are Deribit's fees?**

At the Standard tier, perpetuals and futures cost 0.015% maker and 0.035% taker, and options 0.03% capped at 12.5% of the premium (as of 31 October 2026). Deposits are free.

**Is Deribit available in the US or the UK?**

No for the US. UK retail clients are not accepted; Canada and Japan are also restricted.

**Does Deribit publish proof of reserves?**

No proof-of-reserves report was found on Deribit's official pages; Deribit describes cold-wallet custody, asset segregation and an insurance fund.

## Sources

- [VARA - Public Register](https://www.vara.ae/en/licenses-and-register/public-register/)
- [Deribit - Home](https://www.deribit.com/)
- [Deribit - About Us](https://support.deribit.com/hc/en-us/articles/25944687804957-About-Us)
- [Deribit - Regulation And Governance](https://support.deribit.com/hc/en-us/articles/25944499603357-Regulation-And-Governance)
- [Deribit - Fees](https://support.deribit.com/hc/en-us/articles/25944746248989-Fees)
- [Deribit - Restricted Jurisdictions](https://support.deribit.com/hc/en-us/articles/25944487427741-Restricted-Jurisdictions)
- [Deribit - Terms of Service DRB Panama Inc.](https://support.deribit.com/hc/en-us/articles/25944471089437-Terms-of-Service-DRB-Panama-Inc)
- [Deribit - Risk Disclosure](https://support.deribit.com/hc/en-us/articles/25944531599261-Risk-Disclosure)
- [Deribit - Custody Policy](https://support.deribit.com/hc/en-us/articles/25944547383453-Custody-Policy)
- [Deribit - Custody Options](https://support.deribit.com/hc/en-us/articles/26533163120413-Custody-Options)
- [Deribit - Certifications](https://support.deribit.com/hc/en-us/articles/25944737947805-Certifications)
- [Deribit - Insurance Fund](https://support.deribit.com/hc/en-us/articles/25944777576477-Insurance-Fund)
- [Deribit - Institutional Client Migration Guide](https://support.deribit.com/hc/en-us/articles/39354139215389-Institutional-Client-Migration-Guide)
- [Deribit Insights - Deribit to Join Coinbase (8 May 2025)](https://insights.deribit.com/exchange-updates/deribit-to-join-coinbase-a-new-chapter-in-global-crypto-derivatives-2025/)
- [Deribit Insights - Deribit Joins Coinbase (13 August 2025)](https://insights.deribit.com/exchange-updates/deribit-joins-coinbase-unlocking-the-future-of-global-crypto-derivatives/)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/deribit/