Deribit Trading Bot in Python

This guide shows how to build a Deribit trading bot in Python with LumiBot, for both AI agent trading and algorithmic trading. LumiBot connects to Deribit through CCXT, the open source library that talks to more than 100 crypto exchanges. You will create a Deribit account and API key, connect it, and run two examples: a simple algorithmic trading bot and an agentic trading bot where an AI agent makes the calls.

Deribit at a glance

CCXT exchange id

deribit

Markets

Spot, Perpetual swaps, Dated futures, Options

Testnet (sandbox)

Yes

Credentials

API key, API secret

Live data streams

prices, order book, trades, candles, your orders, your balance

CCXT request spacing

about 50 ms between requests

Official site

https://www.deribit.com

API docs

https://docs.deribit.com/v2

Fees

https://www.deribit.com/pages/information/fees

What is Deribit?

Deribit is a crypto derivatives exchange, running since 2016, best known for bitcoin and ether options. It offers options, perpetuals, futures and spot trading, and it runs a separate test platform.

Sign up for Deribit

  1. Click Create account on www.deribit.com and sign up with email, Google or Apple. Confirm your email with the link Deribit sends you.

  2. Set up two-factor authentication (a passkey or an authenticator app), which Deribit requires for every user. Then complete identity verification (KYC), which Deribit needs before you can trade without limits.

  3. For practice, also create a separate account on the Deribit test platform at https://test.deribit.com. Test accounts and keys are separate from your real account.

Open a Deribit account

Create a Deribit API key

  1. Log in and open the API section in the Account panel at the top right.

  2. Press Add new key.

  3. Choose Deribit-generated key (the simple choice). Self-generated keys use your own key pair.

  4. Pick the scopes (see below), enter a name, and add the IP address of your bot under IP Whitelisting.

  5. Save the Client ID and Client Secret right away. Deribit shows the Client Secret only once. In LumiBot the Client ID is your API key and the Client Secret is your secret.

Which permissions to turn on: Give the key trade:read_write (place and change orders) and account:read and wallet:read (read your account and balances). Leave wallet at read only, never wallet:read_write, because that scope allows withdrawals. A bot never needs to move money out of your account.

Warning

Never turn on withdrawals for a Deribit trading bot key. Bind the key to your server’s IP address when Deribit lets you, keep the secret out of your code and out of Git, and delete the key if it ever leaks.

Connect Deribit to LumiBot

The simplest way: put these lines in a .env file next to your strategy. LumiBot loads the file, sees TRADING_BROKER=deribit and connects to Deribit for you, so your strategy needs no broker code.

TRADING_BROKER=deribit
DERIBIT_API_KEY=your_apiKey
DERIBIT_API_SECRET=your_secret
DERIBIT_SANDBOX=true   # testnet; remove this line for your live account

LumiBot reads exactly the fields CCXT needs for Deribit (apiKey, secret). If one is missing, LumiBot stops at start-up and names the variable you still need.

You can also build the broker in code. This is handy when one script talks to more than one exchange, or when you need extra CCXT options. The keys in the config are CCXT’s own credential names for Deribit:

import os

DERIBIT_CONFIG = {
    "exchange_id": "deribit",
    "apiKey": os.environ.get("DERIBIT_API_KEY"),
    "secret": os.environ.get("DERIBIT_API_SECRET"),
    "sandbox": True,  # testnet first; set False for your live account
}

from lumibot.brokers import Ccxt

broker = Ccxt(DERIBIT_CONFIG)
# then: MyStrategy(broker=broker, ...)

Either way, LumiBot turns on CCXT’s built-in rate limiting for you.

Practice on the Deribit testnet

Deribit runs a full test platform at https://test.deribit.com with its own accounts and API keys, so a key from www.deribit.com will not work there. Set DERIBIT_SANDBOX=true (or "sandbox": True in a code config) to send LumiBot requests there.

CCXT sends sandbox requests to: https://test.deribit.com. Testnet and live accounts use different keys.

Algorithmic trading example: a simple Deribit bot

This bot buys about 50 USDC of BTC on Deribit once and then holds it. It is a starting point to check that your keys, balances and orders work. If the exchange’s minimum order is larger, raise the amount.

from lumibot.entities import Asset
from lumibot.strategies import Strategy


class DeribitBuyOnce(Strategy):
    """Buy a small amount of BTC once, then hold it."""

    def initialize(self):
        self.sleeptime = "1H"
        self.set_market("24/7")  # crypto trades all day, every day

    def on_trading_iteration(self):
        coin = Asset("BTC", asset_type=Asset.AssetType.CRYPTO)
        if self.get_position(coin) is not None:
            return  # already holding BTC
        price = self.get_last_price(coin, quote=self.quote_asset)
        if price:
            quantity = round(50 / price, 6)  # about 50 USDC worth
            order = self.create_order(coin, quantity, "buy", quote=self.quote_asset)
            self.submit_order(order)


if __name__ == "__main__":
    # LumiBot reads TRADING_BROKER and the keys from your .env file.
    strategy = DeribitBuyOnce(quote_asset=Asset("USDC", asset_type=Asset.AssetType.CRYPTO))
    strategy.run_live()

Agentic trading example: an AI agent that trades on Deribit

Agentic trading means an AI agent reads the market and decides what to do. In this example one LumiBot agent looks at prices and your Deribit account, then places the orders itself. There is no Python logic in between: you set the rules in plain English in the prompt, such as what it may trade and how big each order can be. This follows the same pattern as LumiBot’s AI trading team examples.

from lumibot.entities import Asset
from lumibot.strategies import Strategy


class DeribitAITrader(Strategy):
    """One AI agent researches the market and places the trades itself."""

    def initialize(self):
        self.sleeptime = "4H"
        self.set_market("24/7")
        self.agents.create(
            name="trader",
            model="openai/gpt-6-luna",
            reasoning_effort="high",
            allow_trading=True,
            system_prompt=(
                "You manage a small crypto account on Deribit. "
                "You may trade BTC and ETH against USDC (asset_type 'crypto', quote_symbol 'USDC'), or hold cash. "
                "Before every order, call account_portfolio, account_positions and "
                "market_last_price for that exact symbol in the same run. "
                "Keep each order under 10% of the account value. "
                "Explain each decision in one short paragraph."
            ),
        )

    def on_trading_iteration(self):
        self.agents["trader"].run(
            task_prompt="Review recent BTC/USDC and ETH/USDC prices and your current holdings, then decide whether to buy, sell or hold.",
            context={"exchange": "Deribit", "quote": "USDC", "date": self.get_datetime().isoformat()},
        )


if __name__ == "__main__":
    # LumiBot reads TRADING_BROKER and the keys from your .env file.
    strategy = DeribitAITrader(quote_asset=Asset("USDC", asset_type=Asset.AssetType.CRYPTO))
    strategy.run_live()

The agent needs a model key such as OPENAI_API_KEY in your environment. See the AI agents quickstart for models, tools and memory.

What you can trade on Deribit through CCXT

Market

Listed by CCXT

Spot

Yes

Margin

No

Perpetual swaps

Yes

Dated futures

Yes

Options

Yes

CCXT lists these order features for Deribit: market orders, limit orders, stop orders, reduce-only orders, editing open orders, canceling orders.

For perpetual contracts, use the full CCXT symbol so the settlement currency is clear, for example BTC/USDT:USDT. See the CCXT guide for contract quantities, position modes and leverage.

Deribit tips

  • Deribit’s own instrument names look like BTC-PERPETUAL. In LumiBot use the CCXT form: spot is BTC/USDC, the USDC perpetual is BTC/USDC:USDC and the inverse bitcoin perpetual is BTC/USD:BTC.

  • A main account can create subaccounts. Each one keeps its own collateral, positions and up to 8 API keys, and subaccount keys only work on that subaccount. A subaccount per bot keeps bot trades apart from manual trades.

  • API rate limits on Deribit depend on how much the account trades, and each subaccount has its own limits.

  • Deribit is now run with Coinbase. Deribit’s sign-up page may send you to Coinbase onboarding instead; if it does, follow those steps.

Frequently asked questions

Can I build a Deribit trading bot in Python?

Yes. Install LumiBot (pip install lumibot), set your Deribit keys and use the deribit CCXT exchange id as shown above.

Does Deribit have a testnet?

Yes. Set DERIBIT_SANDBOX=true and use keys from the Deribit testnet.

Which API permissions does a Deribit bot need?

Give the key trade:read_write (place and change orders) and account:read and wallet:read (read your account and balances). Leave wallet at read only, never wallet:read_write, because that scope allows withdrawals. A bot never needs to move money out of your account.

Can an AI agent trade on Deribit by itself?

Yes. The agentic example above gives one agent permission to trade. You control what it may trade and how much through its prompt.

Can I trade Deribit perpetual futures with LumiBot?

CCXT lists perpetual swaps for this exchange. Use the full contract symbol, such as BTC/USDT:USDT.

Is LumiBot free?

Yes. LumiBot is open source on GitHub at https://github.com/Lumiwealth/lumibot. You pay only your exchange’s trading fees and, for AI agents, your model provider.

Run it in the cloud with BotSpot

Do not want to keep a computer running for your Deribit bot? BotSpot is the hosted home for LumiBot strategies and AI trading agents: build with AI, backtest, connect a broker, and watch every trade with logs and alerts.

Try BotSpot

Sources