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.