Deribot

FAQ

What strategy does it use?

The bot uses grid trading+DCA with StopLoss protection. New feature of Trailing stop is now in development.

How can I set up for 1% risk?

Check the IM value (Initial Margin) in the Deribit page, it shows what percentage of your deposit will be used.

Is there a trial available?

Trial only works with TestNet.You can also check live results on the stream and get cheapest license to test it live

What is the recommended balance?

The balance should not be too big (to ensure fast order execution), and not too small (so you will gain some $$ over the cost of the license); Minimum recommended amount for default is 0.06 BTC so you can cover subscription fees Optimal recommended amount is 0.1-0.2 BTC per bot. You can use our risk calculator to determine the balance you need for your settings

What are the recommended settings?

Currently recommended settings are set as default after registration. However default settings are changed due to market volatility; we recommend to re-check them periodically (once a week is a good call)

How can I be sure my funds are safe?

Bot only able to trade via API, so Deribit Exchange security protects you from any harm. Withdrawal permission for keys should be DISABLED when you create API keys

Can the bot be used for BTC and ETH simultaneously?

Only one bot instance can be used per one subaccount\crypto; so only BTC or ETH can be traded with single bot. If you get several licenses you can use it with different crypto.

What is the average daily/weekly/monthly ROI?

Average profitability strongly depends on the chosen settings and market trends (bot works best on flat\slow trending market) and can reach 10-20% per day.

Did I understand correctly that the bot is running on your server. I do not need to run the program on my computer or rent a VPS\VDS?

Worry not, you do not need to buy VPS. The robot is working on our servers, you only need to register, choose a subscription and set your API configuration.

What is the maximum amount of orders in the grid? Can I, for example, make 14 orders?

In general, Deribit limits the number of orders to 30, so you can make 14 PAIRS of orders (meaning 14 long + 14 short orders) and +2 StopLosses (Long StopLoss + sShort StopLoss) at maximum.

Does the bot trade only on the Deribit exchange?

Yes, we’ve chosen Deribit because of speed and convenience. There is still a very comfortable maximum leverage of x100. Support for other platforms is in our plans, stay tuned!

How is Stoploss Timer selected and what does it affect?

Stoploss timer is triggered once SL is hit. Then bot sits idle until Timer expires (it is set in Stoploss Timer settings), and resumes trading again. It is useful if you need to wait out flashcrash pump or dump.

On the trial, can I only trade on the test account of the exchange?

Yes, trial only works with testnet. For live trading you need to purchase a license

If I want to trade ETH, will the settings shown on the stream work?

It might work, but it’s best to experiment with settings, because ETH price dynamics is different from BTC dynamics.

I don’t trade on Deribit. I trade on Bitmex. Why Deribit? Are there any differences between these exchanges?

Deribit was picked over BitMEX for the bot due to the following: Speed of order execution is much faster in Deribit; also it’s possible to host servers in the same OVH datacenter than exchange is hosted to further reduce lag (our ping is less than 1msec to the exchange); at the same time fee structure and maximum leverage used in the exchange is the same, but Deribit orders execution so far showed less slippage.

Does Deribit need KYC (or any other type of identity verification)?

Deribit does not require KYC as of 2019. For the next year situation might change, due to anti-money-laundering policy being introduced in the Netherlands. In any case, users will be given official note on upcoming KYC well before it will be implemented.

If I want to trade on 3 accounts of the exchange, then I need to buy three bots?

No, you can buy 3/5/10 bot package.

Considering that the bot runs on your server, is there any kind of protection against crashes, what will happen to orders already on the exchange if your server crashes?

Bot is set up to have “Safety first” principle in mind. So it places StopLoss (market) orders first, to be sure that in any case - be it server crash or sudden price pump\dump, no positions would be left open. So at the worst possible scenario (bot server is down, and price action suddenly wicks) StopLosses would be triggered, and position will be closed. In case (which has not happened so far) bot temporarily loses connection to the exchange, bot will resume it’s work after connection is restored. Also keep in mind that bot server is hosted by reliable hosting provider, OVH, with an uptime of more than 99.978% so server outage is not likely.

What happens if I add or withdraw a deposit from my account during trading?

The bot assumes you have enough balance to put all the orders in place. In case there would be not enough balance, StopLoss will be placed as a sum of opened positions. If you need to deposit or withdraw funds during bot trading it’s advised to stop the bot, make deposit\withdrawal and re-build order grid again, according to your new balance.

Is trade conducted with Maker (Post-only) orders? That is, with each order I will be paid a rebate by the exchange, instead of paying fees to the exchange?

Every order, except for StopLosses, are set with Post-only, so yes, if you trade BTC, you earn 0.025% on every trade fee rebate. ETH maker order is now 0% on Deribit, so you are not paid for those.

How does DeriBot Take Profit works? Do I need to set it up manually?

DeriBot Take Profit is just another order, which is configured in the settings. Its size equals first grid order (in USD); after you set Take Profit step you do not need to do anything more.

Can I run a backtest of your bot on TradingView?

No, the bot is not available for testing in the TradingView. Backtesting is a lot different from live trading; also TradingView got its own engine which is a bit different from live trading execution. Note that the bot is running live stream on YouTube, you can check live trading there: YouTube.com/Deribot/live and YouTube.com/Veratrading/live. Also, for summarized trading history you can check Twitter account at Twitter.com/DeriBotInfo

Does the bot have a dedicated support group for English-speaking users?

Yes, you are free to ask any question in the official Telegram Support Chat there it will be answered

Is there any way to extend the trial? Three days was not enough for me to understand how DeriBot operates

No. Trial is limited to 3 days! Also please do not try to use a lot of cloned accounts with different emails. You might be banned from using DeriBot for that.

How does the bot handle fast dumps and pumps?

Bot with StopLoss usually loses only a small amount, set by your StopLoss, and resumes trading soon afterwards. It live trading it has been shown to regain the losses quite fast.

Stop losses are placed by market orders. How big is the slippage when closing an order?

So far Deribit is proved to have very little slippage, even on big moves. It was one of the reasons to choose this exchange over many other ones. Recorder slippage was only $5-$10 on big dumps in our history.

Is there much liquidity on the Deribit exchange? What is the maximum order I can use in the grid?

Deribit provides good liquidity, especially on BTC market. For ETH liquidity is a bit less, but still very solid number. The exchange is in top-5 of liquidity providers in crypto futures space. There is no hard cap on maximum order; but rule of thumb would be to use “median” value from the orderbook. If you see that orders as big as 0.5 BTC are filled fast in the orderbook - you can set yours to 0.5 BTC. However putting a lot of funds into a single bot is very risky. We recommend diversifying funds and use at least 2 or 3 bots trading in parallel with slight variation in prices or start time.

If I want to completely stop trading and close a position at a market price, what should I do?

If you need to stop Deribot completely you should use “Hard Stop” button in “Robot Control” section of your personal account page. Bot will cancel all outstanding orders, close ANY opened positions at MARKET price, and stop placing additional orders.

Is there a referral program available?

Yes, you get 5%, lifetime, payouts for every payment made by people who used your ref link.

Can DeriBot trade options on the exchange?

As of now bot only trade perpetual swap futures.

Does Deribot do an orderbook/trade volume/DOM analysis?

No, the bot does not do any orderbook or market analysis. It uses its own strategy.

Do I need a clean subaccount (with no orders) to start trading with Deribot, or can I use my own account, that has my manual orders?

You will need to create new SUBaccount, so that the bot will not interfere with your manual trading, and you will not interfere with his.

Will the bot close position by MARKET or LIMIT order in case of Hard Stop?

Be careful! If you use HARD STOP button, bot close ALL POSITIONS (PERPETUAL or FUTURES) with MARKET order!!!

Can I trade manually on the same subaccount DeriBot uses?

No, it’s best that you use separate subaccount for manual trading. Please do NOT trade in the same subaccount that bot uses.

How many trades DeriBot does per day?

There is no preset number of trades. Bot does it according to his vision, configured by settings. The smaller the step - the more trades bot will typically perform. Check “Scalper” settings in the chat\stream if you like your bot to perform more trades.

What Short/Long only option means?

Bot will work in a single direction only, if this option is set. Order grid would be set only for Long or Short direction. This is useful if you are sure where trend is going.

If BTC price will rise, will subscription prices be reviewed (and lowered?)

New package deals and bulk discounts have been introduced December 16th, so for now no new pricing is expected

When my subscription expires, what will happen to my orders placed on the exchange?

Bot will do “Soft Stop” exit and stop placing new orders after that.

If I change settings (order size, grid steps, etc) do I need to restart bot? Should I use SOFT or HARD stop for that?

Since December 2019 there is no need to do a restart. New settings are applied automatically.

Does the bot have any type of LOG where I can monitor bot status and see if there were problems in the past?

No, currently there is no log for the bot. However it will send you email when StopLoss is triggered.

What will Deribot do if I open manual order? Will it add it to the grid, cancel it or ignore it?

This will mess with DeriBot logic, and change its position\order size. Please do not do that. Also keep in mind that Hard Stop will cancel ALL orders and positions, including manual ones. Please make separate subaccount for the bot.