RFQ

RFQ Quick Guide - Taker

Send RFQ

A. View Selection Toggle between Simple View and Detail View depending on your preferred level of control and visibility.B. RFQ Mode Select your execution method:

B. RFQ Mode

Select your execution Method:

• RFQ to privately request quotes from market makers you select

• Order Book to post a combo directly (public to everyone)

• Block Trade Booking to generate a Deribit block hash for bilateral 1:1 trades

C. Structure Setup Build your desired option structure by defining product, side, expiry, strike, ratio, and leg quantity.

D. Delta Exchange (Optional) Add a perp leg to delta-hedge the structure directly within the RFQ workflow. (Mark price won't reflect the hedged legs)

E. Margin Simulation Click Simulate IM/MM to calculate the projected Initial and Maintenance Margin impact before submission.

F. Counterparty Selection Select preferred market makers from the list. You may choose to disclose your identity or remain anonymous (anonymity applies when selecting multiple counterparties).

Execution

A. RFQ Monitoring All submitted RFQs can be tracked under the “My RFQ” tab.

B. Live Market Comparison Best bid and offer (BBO) will be displayed in real time. You can directly compare RFQ quotes against current screen prices for execution context.

C. Counterparty Visibility If taker identity is disclosed, the maker name quoting the best price will be visible. If sent anonymously, maker identities will remain hidden.

Fast Execution feature (1-click)

All takers can execute any RFQs with a single click

Once you hover your mouse over the Buy or Sell button, the price will automatically lock (IOC order) for 4 seconds until you click "confirm" (i.e. hitting the bid here)In other words, based on the example above, the price will be fixed at 0.005 and the trade will only execute at 0.005 or a better price.

Fast Execution feature (2-click)

When you click Buy or Sell, it skips the next/intermediary screen and takes you straight to the confirmation page, where the price is locked again

Hidden Limit Order

1、Click the Buy or Sell button to enter input mode. The screen bid/ask will be auto-filled as HLO, and the mouse cursor will be placed at the end of the input field.

2、Click the Confirm button or press Enter to confirm directly. (will be 3bps in that case in this example)

3、Press Esc to exit input mode, or click anywhere else in the table to exit as well.

4、Click the Edit button to modify the price (ex_ 3bps —> 5bps). The direction cannot be changed — to change direction, the order must be deleted first.

RFQ Quick Guide - Maker

Receive RFQ

A. Received RFQs Access all incoming requests via the “Received RFQ” tab.

B. Real-Time Notifications New RFQs will trigger a pop-up notification in the top-right corner for immediate visibility.

Market Making (High Touch / Manual)

A. Flexible Quoting Methods SignalPlus supports multiple quoting modes, including quick quote, quote by leg, quote by spread, IV/bps adjustments, and scenario tools.

B. Size Control Choose between All-or-None (AON) or Partial quoting. (Deribit RFQ allows makers to provide partial size if preferred.)

C. Real-Time Market Reference Compare your quote against the live screen bid/ask in real time to ensure competitive pricing.

D. Inside-Market Indicator The thumbs-up icon indicates that your quote is currently inside the screen price, improving execution probability.

Market Making (Low touch / Automated)

Please refer to our RFQ Open API

FAQ

1) Deribit RFQ vs Combo Book — what’s the difference? RFQs are privately broadcast only to selected makers, and makers cannot see other makers’ quotes. Combo book orders are publicly displayed, where both takers and makers can view full order book depth.

2) What visibility do takers and makers have in the RFQ workflow? Takers can see the top-of-book maker and may choose to disclose their identity. If the taker discloses their identity, the maker’s name will also be disclosed. Makers cannot see competing makers’ prices, but can reference public screen prices.

3) Are Deribit block size minimums applied? Yes. Trades settle on Deribit and follow Deribit’s block minimum requirements, with no additional thresholds imposed.

4) SignalPlus RFQ Open API SignalPlus supports REST and WebSocket APIs with full multi-leg strategy capability and complete quote lifecycle management. SignalPlus can also build customized features upon request and aims to integrate RFQ across multiple exchanges into a single unified API integration.

5) What is the fee structure? Zero additional fees. Takers and makers follow their existing Deribit fee schedule, and SignalPlus does not charge any extra fees.

6) When should RFQ be used instead of the combo book? RFQ is generally more efficient and private for larger sizes or complex structures where market impact matters. The combo book may be more suitable for smaller or more tactical executions.

Other Key Features

USDC Options

RFQ Simple View

Users can switch to Simple View to build RFQs in a more streamlined, user-friendly format