$1M MQP is now live! - The program is fully open, with a $100K monthly reward pool for $BTC and $ETH perpetuals, future rolls, and options.
Our Investors and Network
Reshaping the Crypto Derivatives Industry
Stablecoin-settled contracts with multi-collateral support (BTC, ETH, USDt and USDC).
Get StartedBuy and sell with the lowest fees in the industry
| Instrument | Last Price | 24h Change | Markets | |
|---|---|---|---|---|
BTCUSDPerpetual | - | - | Trade Now | |
ETHUSDPerpetual | - | - | Trade Now |
Why Trade At Thalex?
Symmetric fees
Trading fees anchored around 1 bps. Combinations embed fee advantages. Microstructure that encourages showing liquidity.
Portfolio margin
Portfolio-based margin calculation across futures & options, providing capital efficiency for delta or vega offsetting positions.
Linear, stablecoin-settled
P&L is calculated in USD, and settled in USDt. Any position can be collateralized with USDt, USDC, BTC or ETH.
Market maker features
Built by former options market makers, Thalex offers low latency, cancel on disconnect, mass quotes and configurable market maker protection.
Automated delta-hedging
Liquidation process designed to limit market impact with automated delta hedging and liquidation auctions are used to manage complex risks.