Head to head
the arrow points to the better figure| Paragon | Deribit | |
|---|---|---|
| Trading | ||
| — | BTC trade, $10k | $7.06 |
| — | BTC trade, $1M | $1,461 |
| — | BTC book depth | $46.5M |
| 0.009%/0.003% | ◀Taker / maker | 0.035%/0.015% |
| 20x | Max leverage▶ | 50x |
| Size | ||
| $9.7M | Volume 24h▶ | $12.65B |
| $5.0M | Volume, 7-day average▶ | $9.13B |
| $15.1Mlongs + shorts | Open interest | $1.33Bone side |
| — | TVL | — |
| Markets | ||
| 33 | Markets▶ | 144 |
| 32 | Stocks & RWA▶ | 42 |
| 1h | Funding paid every | 1h |
| — | BTC funding /8h | +0.0077% |
| — | BTC longs paid, 30d | +0.745% |
| Access | ||
| No ID | ◀KYC | Required |
| none yet | Token | none yet |
| — | Airdrop | — |
Size
daily, last 90 daysVolume by asset class
last 90 daysOn both: 1
funding /8h · Net 7d at $10kOnly on Paragon: 32
UNITREE · 10Y · TTWO · 2Y · COHR · CRDO · GLW · VST · BTCD · OTHERS · 30Y · TOTAL2 · TREAD · CIFR · IREN · GDX · RDDT · ANSEM · DRV · SMCI · MELI · STX · CRWD · LRCX · AAOI · NET · SMH · CIEN · IGV · SOFI · TER · ANT
Only on Deribit: 141
BTC · ETH · SOL · EURC · HYPE · PAXG · XRP · XAU · SOXL · ZEC · QQQ · NEAR · AVAX · XAG · LINK · UNI · SPY · CRCL · DOGE · TRX · GOOGL · BNB · SUI · ADA · LTC · ANTHROPIC · XLM · SPCX · AAVE · MSTR · MU · BE · ENA · DOT · BCH · CL · INTC · WLD · AERO · NVDA · MSFT · LITE · HBAR · BZ · OPENAI · SNDK · CRV · WIF · CBRS · ONDO · AAPL · INJ · KORU · TSLA · EWY · AMZN · ARB · DRAM · META · NBIS · and 81 more
Questions
Which has more markets, Paragon or Deribit?
Paragon lists 33 active markets and Deribit 144; 1 assets trade on both, 1 of them stocks, commodities or other real-world assets.
Does Paragon or Deribit require KYC?
Paragon: No ID, traded through Hyperliquid front ends; not for US persons or a long list of restricted countries, VPNs forbidden. Deribit: ID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Can you arbitrage funding between Paragon and Deribit?
Not profitably right now: none of the 1 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Paragon or Deribit?
24-hour volume: Paragon $9.7M, Deribit $12.65B. Open interest as each reports it: $15.1M and $1.33B. Paragon reports open interest as longs plus shorts, both sides of every position; Deribit reports one side. For the same positions Paragon's figure reads about twice as large.