NEW Options on Derive, in your own wallet

Every view
has a shape.

Think BTC will rise, fall or swing hard? Pick a strategy, see its payoff before you pay, and trade every leg as one quote, signed by your own wallet.

Start trading

Derive

BTC

ETH

USDC on Ethereum your wallet signs

Long call

Strategies

Six presets. Each one explained.

Pick what you expect the market to do. See how each strategy is built, where it wins and where it loses, drawn with live Derive prices.

Bullish · You expect it to rise

Long call

Upside, with the cost fixed up front

You pay a premium for the right to buy BTC at the strike price. If BTC ends above the strike plus what you paid, the gain is yours. If not, you lose only the premium.

BUYBuy one call at the strike nearest today's price.

Loading live Derive prices…

Max loss—

The premium plus fees. Never more.

Break-even—

Strike + the premium you paid.

Max profit—

No cap: every dollar above the break-even is profit.

You win when

BTC ends above the break-even at expiry. The higher it goes, the more you make.

You lose when

BTC ends at or below the strike. The call expires worthless and the premium is gone.

TimeWorks against you

Each day without a move, the call is worth a little less.

VolatilityHelps you

Bigger expected swings make the call worth more before expiry.

Margin

You pay the premium up front. Buying options alone can't lose more than you paid.

Good for: A strong move up, soon.

Watch out: Being right too late. If the rally comes after expiry, the call still expires worthless.

Trade this strategy

Shapes are illustrative until live Derive prices load. Not advice.

Build

Tune it. Price it. Know the risk.

Choose the expiry, drag the strikes and set the size. Every number comes from Derive's live order book and refreshes on its own.

At expiry · indicative

Long call 0.01 BTC per leg

Max loss—

Break-even—

Max profit—

Loading Derive market data…

Fetching live instruments and bid/ask snapshots.

What if, at expiry?—

−25%0% · —+25%

Drag the ◆ handles to change strikes. Expiry P&L includes estimated opening exchange fees; it excludes closing fees, funding/borrow costs and gas, and assumes the position is held to settlement. Not a margin or liquidation simulation.

Under the strategy

0 legs · USDC quoted

Loading strategy legs…

Bid/ask prices are independent snapshots, not a guaranteed package price. Displayed book depth does not reserve liquidity. Standard fee estimates use Derive instrument definitions; account and RFQ discounts are not applied.

In 3D

Watch time do its work.

Your strategy's estimated value across price and the days left. The front edge is expiry. The glowing slice runs from today to expiry, so you can watch time value drain away. Drag to turn it.

Pick a strategy with live prices to see it in 3D.

Time left —TodayExpiry

At today's price—

Profit
Loss
Break-even level
Expiry payoff
Time slice

Model estimate for your current strategy and size: Black-76 with Derive's implied volatility and forward for each leg, volatility held per strike, after the opening cost. At expiry it equals the payoff chart. Not a quote: real prices also depend on the order book.

Trade

One quote. Every leg. Your signature.

Your strategy goes out as a single request for quote. Market makers compete to fill all of it at once, and nothing executes until you sign.

01 Connect
Your wallet signs a timestamp to log in to Derive. No trade yet.
02 Fund
Your first USDC deposit creates a Derive account your wallet owns.
03 Request
The whole strategy goes out as one request for quote (RFQ).
04 Compete
Market makers answer with one price for every leg together.
05 Review
See the best quote, the fee cap you'll sign and your margin after.
06 Sign & fill
You sign. Derive fills every leg at once, or none of them.

Trade it in Options DEX

This page only explains. Options DEX opens on the position you built here, with the same chart, 3D simulation and guide. Connecting your wallet, funding your Derive account, quotes, trades and closing positions all happen there.

Open in Options DEX

Safety

Clear before you commit.

The rules live in what you sign, not in a promise.

Your wallet signs everything

Every trade and withdrawal is signed by your wallet. No private keys or delegated trading keys are stored.

Every leg, or none

A strategy executes as one atomic quote, so you never end up holding half a spread.

Capped fees, protected fills

The maximum exchange fee is part of what you sign, and taker protection rejects the fill if the order book offers the same package cheaper.

No additional fees

You pay Derive's standard exchange fees. Nothing is added on top.

Before you trade

Derive settles on Ethereum with USDC collateral. Your first deposit creates a Derive account owned by your wallet, and deposits are credited after a short delay. Base funding is not available.

Understand the risk

Options can expire worthless and you can lose the whole premium. Positions with a sold leg can face margin calls and liquidation before expiry. Prices here are indicative until you get a quote. Strategy templates are educational, not investment advice.

How Derive RFQ execution works