Getting started with Delta Exchange
Delta Exchange is a cryptocurrency derivatives trading platform. We currently offer:
- Options: USDT settled European call and put options on BTC, ETH, SOL, BNB, XRP and LINK.
- MOVE Options: These option contracts are used to speculate on the volatility of the underlying cryptocurrencies. The price of these contracts is proportional to the magnitude of price moves of the underlying rather than the direction of the move.
- Calendar Spreads: These contract represent a long and short position respectively in near-term quarterly futures and longer-term quarterly futures on the same underlying
- Interest rate swaps: These derivative contracts entail swapping of one stream of interest rate payments with another. Interest rate swaps are used to speculate on interest rates or hedge their risk.
- Spot: Currently, we have three pairs available in spot trading - DETO/USDT, BTC/USDT and ETH/USDT, SOL/USDT and USDC/USDT, with more markets in the offing.
. The following features stand us apart from other cryptocurrency exchanges:
- Leverage: All derivative contracts traded on Delta Exchange have built in leverage. The maximum allowed leverage varies from contract to contract and can go up to 100x for certain contracts. This means that with say 1 BTC, you can take a position of up to 200 BTC.
- Speculate or manage risk: Our futures contracts can be used to trade both rising markets (by going long) and falling markets (by going short) profitably or to hedge price risk.
- Cryptocurrency settlement: All contracts listed on Delta are settled in crypto. This means that all the calculations of trade profit/ loss as well as trade settlement in done in cryptocurrency terms. Fiat currencies (e.g. US Dollar) are not supported on Delta. Currently we have two types of contracts:
- Stablecoin settled futures contracts: these contracts are margined and settled in USDT. USDT is a stablecoin whose value is pegged to the US Dollar. To trade USDT settled futures, you need to have USDT.
- Bitcoin settled contracts: these contracts are margined and settled in bitcoin. Hence, to trade these contracts you need to have bitcoins.
The trading dashboard of Delta Exchange is comprised of multiple panels. These include chart, order book/ recent trades, order submission and open orders & position panels. The functions and uses of these panels are delineated in the picture below.
To place a trade, you need to:
- Select the contract you are interested in
- Recall that futures contracts on Delta Exchange are margined and settled in either BTC or USDT. If you are looking to trade a USDT settled contract, you could use the currency converter tool to change BTC to USDT.
- Specify the number of contracts that you are looking to buy/ sell
- Decide on the order type (e.g. limit or market) and place it
Once an order is placed, it will immediately show up in ‘Open Orders’ tab in the Balances panel. On execution of the order you acquire a new ‘Open position’ which displayed in the Balances panel.
Trading derivatives is more involved and quite different from spot buying and selling of cryptocurrencies. The mechanics of margining, calculation of PnL, details of contract settlement may not be always obvious and we’d encourage you to browse through the Tutorials section as well as the rest of the documentation.
We hope you have a happy and profitable trading experience on Delta Exchange!