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What is Derive?
Updated over 4 months ago

Derive is a decentralized options and perpetuals exchange for cryptocurrencies like ETH and BTC. When trading on Derive, you have access to key features such as cross-margin, cross-asset collateral, and portfolio margin.

Cross-Margin

All asset balances (e.g., USDC, WETH, WBTC) are used as collateral for all perps and options positions in a subaccount. Users can create multiple subaccounts to isolate risk.

Cross-Asset Collateral

Various base assets (e.g., WETH, WBTC) can be used as collateral for perps and options positions, allowing users to:

  • Sell a BTC call with WBTC collateral (covered call)

  • Sell an ETH call with WBTC collateral

  • Long a BTC perp with ETH collateral

Portfolio Margin

Scenario-based model in which the maximum loss of an entire portfolio is used to determine margin requirements, providing complex portfolios with the best capital efficiency.

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