# Bybit vs Deribit

> Deribit scores 59 (C) to Bybit's 57.3 (C) for exchange market data. Prices, MCP, x402, uptime and agent notes side by side.

- Canonical: https://www.anchorterminal.com/compare/bybit-vs-deribit
- Markdown: https://www.anchorterminal.com/compare/bybit-vs-deribit.md (~4,100 tokens)
- Site index for agents: https://www.anchorterminal.com/llms.txt (the key docs and every listing in one file, at most 16 MB, about 4 million tokens: https://www.anchorterminal.com/llms-full.txt)
- API: https://www.anchorterminal.com/api/v1/index.json
- MCP: https://www.anchorterminal.com/mcp (the whole catalogue as tools, no key)
- DNS: dig +short TXT <slug>.grade.anchorterminal.com (the grade as a DNS TXT record, for a sandbox with no HTTP where names still resolve; also top., best.<category>. and <a>.vs.<b>. under the zone, and the same under grade.letme.dev)
- Licence: CC BY 4.0, credit Anchor Terminal and link this page (https://www.anchorterminal.com/terms/#data)
- Updated: 2026-11-04

Deribit scores 59 (C) on agent readiness against Bybit's 57.3 (C), and leads in 3 of 7 scored categories. Bybit leads on payments & pricing and transparency & trust. Both do exchange market data.

- Bybit: grade C, 57.3/100, rank #712 of 1349. Markdown https://www.anchorterminal.com/tools/bybit.md · JSON https://www.anchorterminal.com/api/v1/tools/bybit.json
- Deribit: grade C, 59/100, rank #646 of 1349. Markdown https://www.anchorterminal.com/tools/deribit.md · JSON https://www.anchorterminal.com/api/v1/tools/deribit.json
- Best crypto exchange APIs and MCP servers for AI agents: https://www.anchorterminal.com/best/crypto-exchanges/index.md
- All 210 exchanges comparisons: https://www.anchorterminal.com/compare/crypto-exchanges/index.md

## Which one, for what

### Bybit (C)

Good for: An agent trading spot, perpetuals, futures and options in a person's Bybit account outside the excluded jurisdictions, with a demo environment to rehearse on.

Ahead on:
- Payments & pricing, 40 against 25
- Transparency & trust, 51 against 46

Also in its favour:
- Runs on your own machine

Watch for: No status page, incident history or SLA was found; the terms say the API is not guaranteed to be available

### Deribit (C)

Good for: An agent trading crypto options, dated futures and perpetuals for an institutional or retail Deribit account, and anyone migrated from Coinbase International Exchange.

Ahead on:
- Schema & documentation, 88 against 73
- Agent ergonomics, 74 against 66

Watch for: No official MCP server, and the GitHub organisation has no public repositories, so no official SDK in any language


## Why the edge

### Schema & documentation: Deribit +15

- Bybit (73): No OpenAPI or other machine-readable contract for the REST API; the MCP server's 398 tools have zod schemas turned into JSON Schema, so the contract exists for the MCP surface only (12 of 25). No llms.txt; the docs are a public Docusaurus repository (bybit-exchange/docs) whose MDX source an agent can read (5 of 10). The MCP tool descriptions state purpose, rules and an agent hint per tool, and the API reference gives one page per endpoint (15 of 20). Parameters are typed with enums such as category and orderType and required flags (12 of 15). Request and response examples on each endpoint page and an error code page of about 750 codes with text (14 of 15). A dated changelog with 24 entries in the last 90 days, versioned V3 to V5 (15). 73.
- Deribit (88): OpenAPI 3.0.0 for the whole JSON-RPC surface (Deribit API 2.1.1, about 1.4 million characters) plus AsyncAPI files for the WebSocket side (25). llms.txt with production and upcoming indexes, and a Markdown twin of every page (10). Each operation has a description such as "Places a buy order for an instrument." with parameter notes, and the articles say when to use WebSocket subscriptions over polling, but the reference seldom says when not to use a method (13 of 20). Parameters are typed with enums (order `type` has eight values, `time_in_force` four) and required flags, with `amount` or `contracts` as a documented either-or (13 of 15). Every reference page carries an example request and response, and the errors page lists about 159 codes with retry guidance, though most operations document only a 200 response and the smaller error tables disagree with the full one on two codes (12 of 15). A versioned path (/api/v2), a production and an upcoming docs branch, and a dated changelog of 64 entries since 21 January 2020 (15). Total 88.

### Payments & pricing: Bybit +15

- Bybit (40): No machine payment protocol (0). The fee schedule is public without login, with VIP 0 maker and taker rates per product and the tier criteria (20). Reading market data needs no key and the demo environment costs nothing, no card is asked for at sign-up (20). A person must register, pass identity verification and mint the key in a browser (0). 40.
- Deribit (25): No machine payment protocol (0). The fee schedule is on support.deribit.com, which answered 403; Deribit's own posts give VIP4 to VIP7 taker fees and the 0 bps linear options maker fee, so partial prices are public but the lowest tier is unchecked (5 of 20). Public market data needs no key and the test environment is free, with no card anywhere (20). A person signs up in a browser with identity checks before any key exists (0). Total 25.

### Agent ergonomics: Deribit +8

- Bybit (66): Read for the API with the MCP server beside it. The MCP server has 398 tools in one list with no toolset, module or read-only switch (5 of 25, nothing added back). V5 reads take limit and cursor and category filters (15 of 20). retCode and retMsg on every response with a code list an agent can branch on, though create-order answers before the order is final and the docs say to confirm over WebSocket (14 of 20). orderLinkId makes order retries safe and every MCP tool carries readOnlyHint and destructiveHint (17 of 20). Five required fields on an order, official SDKs in Python, Go, Java and .NET (15). 66.
- Deribit (74): An API, read for response sizing. `public/get_order_book` takes `depth`, `get_instruments` filters by currency and kind, and history methods take `count` and `offset`, though `get_instruments` returns every instrument for a currency and costs 10,000 credits (18 of 25). Count and offset pagination, time ranges on trade and transaction logs, and WebSocket channels with interval and depth options (16 of 20). Numeric error codes with short names, a `wait` value on some errors, and sample code that branches on them (18 of 20). A `nonce` on orders since May 2026 returns the existing order on retry, a `label` lets an agent find its own orders, and 10040 marks the calls safe to retry; no MCP annotations apply (16 of 20). Few required parameters and sensible defaults (limit and good_til_cancelled), but no official SDK in any language, so every caller signs and frames JSON-RPC itself (6 of 15). Total 74.

### Transparency & trust: Bybit +5

- Bybit (51): The editorial half. A closed hosted service. The terms read are the UAE entity's PDF served from bybit.com, clear on API use and availability, but the global terms page renders by script and was not read; the MCP server is MIT (12 of 30). The privacy policy was not read, so data handling is unscored (5 of 30). The changelog dates removals and response changes but gives no notice period or deprecation policy (10 of 20). No subprocessor list or data location statement was read (0 of 20). 27.
- Deribit (46): The editorial half. A closed service whose terms (Deribit FZE membership terms and DRB Panama Inc. terms) sit on a support site that answered 403, with the entity confirmed on VARA's register (12 of 30). The privacy policy was not read, and nothing in the docs states retention (0 of 30). The changelog marks deprecations and the upcoming docs branch previews the next release, but removals such as `public/get_index` on 25 November 2025 carry no notice period (10 of 20). No subprocessor or data-location statement found (0 of 20). Total 22.

## Score by category

| Category | Weight | Bybit | Deribit | Edge |
| --- | --- | --- | --- | --- |
| Reliability | 16% (20 this run) | 45 | 45 | even |
| Performance | 10%, pending | pending | pending | not scored in this run |
| Schema & documentation | 13% (16.2 this run) | 73 | 88 | Deribit +15 |
| Agent ergonomics | 13% (16.2 this run) | 66 | 74 | Deribit +8 |
| Security & auth | 14% (17.5 this run) | 60 | 62 | Deribit +2 |
| Payments & pricing | 10% (12.5 this run) | 40 | 25 | Bybit +15 |
| Task success | 10%, pending | pending | pending | not scored in this run |
| Maintenance & community | 7% (8.8 this run) | 66 | 65 | Bybit +1 |
| Transparency & trust | 7% (8.8 this run) | 51 | 46 | Bybit +5 |
| Negative events | ≤15 | 0 | 0 | |
| **Total** | | **57.3 · C** | **59 · C** | |

## Facts side by side

| Fact | Bybit | Deribit |
| --- | --- | --- |
| Kind | HTTP API | HTTP API |
| Vendor | Bybit | Deribit FZE |
| Hosted endpoint | no (local only) | no (local only) |
| Transports | stdio |  |
| Auth | API key | API key |
| Pricing | Pay per use | Pay per use |
| x402 | no | no |
| Licence | none | Proprietary hosted exchange. The API is documented under the Deribit docs with an OpenAPI 3.0 file; no official client library is published |
| Tools exposed | 398 | 0 |
| Read-only variant documented | yes | no |
| llms.txt | no | yes |
| Last release | 2026-10-30 | 2026-10-13 |
| Terms last updated | couldn't be read | 2026-08-13 |
| Privacy policy last updated | couldn't be read | no document linked |
| Customer content may train models | couldn't be read | not found in the text |
| Terms restrict automated access | couldn't be read | yes |
| Terms restrict benchmarking | couldn't be read | not found in the text |
| Terms or service can change without notice | couldn't be read | not found in the text |
| Arbitration or class-action waiver | couldn't be read | not found in the text |
| Popularity | 43 stars | none |

## Verdicts

**Bybit.** Bybit publishes per-endpoint rate limits, a demo environment, scoped keys with a read-only flag and IP binding, and an official stdio MCP server whose 398 tools carry read-only and destructive annotations. There is no status page, no OpenAPI file, no SLA, the MCP server has no toolsets, and the global terms and privacy pages are drawn by script.

**Deribit.** Deribit's JSON-RPC API has scoped keys with IP and expiry limits, asymmetric signing, an OpenAPI file, numeric rate limits and a 64-entry changelog. There is no official MCP server or client library, the fee schedule, terms and privacy policy sit on a support site that refused our reader, and the status page did not resolve.

## Before you call either

### Bybit

1. Create a key with only the permission groups the task needs, set readOnly for research keys, leave Withdraw off and bind an IP, or the key expires after 90 days
2. Send a unique orderLinkId on every order and reuse it when amending or cancelling, since create-order is asynchronous and confirmed over WebSocket
3. Read X-Bapi-Limit-Status before bursts and wait until X-Bapi-Limit-Reset-Timestamp on retCode 10006; on HTTP 403 stop all sessions for at least 10 minutes
4. Test on api-demo.bybit.com with a demo key from the production account, not on testnet demo mode, which the docs call meaningless
5. Run the MCP server with BYBIT_TESTNET=true first, and only in a client that shows a per-call approval, because the server has no read-only mode of its own

### Deribit

1. Create the key with `trade:read_write` and `wallet:none`, an `ip:` limit and an `expires` value; keep `account:read` unless the task edits subaccounts
2. Authenticate with `client_signature` or an Ed25519 key over WebSocket rather than `client_credentials` over HTTP, which puts the secret in the URL
3. Watch the `limits` field of `private/get_account_summary` and back off on error 10028; a session that runs out of credits is closed and must reconnect
4. Send a `nonce` with orders so a retry after a timeout does not place a second order, and treat `order_not_found` on cancel as a possible fill
5. Develop against https://test.deribit.com/api/v2 first; production and test need separate accounts and keys

## Questions

### Which is better for AI agents, Bybit or Deribit?

Deribit scores 59 (C) on agent readiness against Bybit's 57.3 (C), and leads in 3 of 7 scored categories. Bybit leads on payments & pricing and transparency & trust.

### Do Bybit and Deribit need an API key?

Both need an API key.

### Can an agent call Bybit and Deribit without installing anything?

Bybit runs on your own machine, with no hosted endpoint listed. No hosted endpoint is listed for Deribit.


## For agents

- This comparison as JSON: https://www.anchorterminal.com/compare/bybit-vs-deribit.json, and with the fewest tokens: https://www.anchorterminal.com/compare/bybit-vs-deribit.min.md
- Over MCP at https://www.anchorterminal.com/mcp (no key): `compare_tools {"a": "bybit", "b": "deribit"}`. From a terminal: `anchor compare bybit deribit`
- Each listing in full: https://www.anchorterminal.com/api/v1/tools/bybit.json and https://www.anchorterminal.com/api/v1/tools/deribit.json

## Other comparisons with Bybit or Deribit

- [Bitfinex API vs Bybit](https://www.anchorterminal.com/compare/bitfinex-vs-bybit.md)
- [Bitfinex API vs Deribit](https://www.anchorterminal.com/compare/bitfinex-vs-deribit.md)
- [Bitget vs Bybit](https://www.anchorterminal.com/compare/bitget-vs-bybit.md)
- [Bitget vs Deribit](https://www.anchorterminal.com/compare/bitget-vs-deribit.md)
- [Bithumb Open API vs Bybit](https://www.anchorterminal.com/compare/bithumb-vs-bybit.md)
- [Bithumb Open API vs Deribit](https://www.anchorterminal.com/compare/bithumb-vs-deribit.md)
- [Bitstamp API vs Bybit](https://www.anchorterminal.com/compare/bitstamp-vs-bybit.md)
- [Bitstamp API vs Deribit](https://www.anchorterminal.com/compare/bitstamp-vs-deribit.md)
- [Bybit vs Coinbase Advanced Trade API](https://www.anchorterminal.com/compare/bybit-vs-coinbase-advanced-trade.md)
- [Bybit vs Coinbase MCP server (Coinbase for Agents)](https://www.anchorterminal.com/compare/bybit-vs-coinbase-mcp.md)
- [Bybit vs Crypto.com Exchange API](https://www.anchorterminal.com/compare/bybit-vs-crypto-com-exchange.md)
- [Bybit vs dYdX](https://www.anchorterminal.com/compare/bybit-vs-dydx.md)
- [Bybit vs Gate](https://www.anchorterminal.com/compare/bybit-vs-gate-io.md)
- [Bybit vs Gemini Exchange API](https://www.anchorterminal.com/compare/bybit-vs-gemini-exchange.md)
- [Bybit vs HTX trading API](https://www.anchorterminal.com/compare/bybit-vs-htx.md)
- [Bybit vs Hyperliquid](https://www.anchorterminal.com/compare/bybit-vs-hyperliquid.md)
- [Bybit vs Kraken API](https://www.anchorterminal.com/compare/bybit-vs-kraken.md)
- [Bybit vs KuCoin](https://www.anchorterminal.com/compare/bybit-vs-kucoin.md)
- [Bybit vs MEXC API](https://www.anchorterminal.com/compare/bybit-vs-mexc.md)
- [Bybit vs OKX API](https://www.anchorterminal.com/compare/bybit-vs-okx.md)
- [Bybit vs Uniswap Trading API](https://www.anchorterminal.com/compare/bybit-vs-uniswap.md)
- [Bybit vs Upbit Open API](https://www.anchorterminal.com/compare/bybit-vs-upbit.md)
- [Crypto.com Exchange API vs Deribit](https://www.anchorterminal.com/compare/crypto-com-exchange-vs-deribit.md)
- [Deribit vs Upbit Open API](https://www.anchorterminal.com/compare/deribit-vs-upbit.md)
- [Binance API vs Bybit](https://www.anchorterminal.com/compare/binance-vs-bybit.md)
- [Binance API vs Deribit](https://www.anchorterminal.com/compare/binance-vs-deribit.md)
- [Coinbase Advanced Trade API vs Deribit](https://www.anchorterminal.com/compare/coinbase-advanced-trade-vs-deribit.md)
- [Coinbase MCP server (Coinbase for Agents) vs Deribit](https://www.anchorterminal.com/compare/coinbase-mcp-vs-deribit.md)
- [Deribit vs Uniswap Trading API](https://www.anchorterminal.com/compare/deribit-vs-uniswap.md)
- [Deribit vs dYdX](https://www.anchorterminal.com/compare/deribit-vs-dydx.md)
- [Deribit vs Gate](https://www.anchorterminal.com/compare/deribit-vs-gate-io.md)
- [Deribit vs Gemini Exchange API](https://www.anchorterminal.com/compare/deribit-vs-gemini-exchange.md)
- [Deribit vs HTX trading API](https://www.anchorterminal.com/compare/deribit-vs-htx.md)
- [Deribit vs Hyperliquid](https://www.anchorterminal.com/compare/deribit-vs-hyperliquid.md)
- [Deribit vs Kraken API](https://www.anchorterminal.com/compare/deribit-vs-kraken.md)
- [Deribit vs KuCoin](https://www.anchorterminal.com/compare/deribit-vs-kucoin.md)
- [Deribit vs MEXC API](https://www.anchorterminal.com/compare/deribit-vs-mexc.md)
- [Deribit vs OKX API](https://www.anchorterminal.com/compare/deribit-vs-okx.md)

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Query this catalogue directly over MCP: https://www.anchorterminal.com/mcp (Streamable HTTP, no key). How: https://www.anchorterminal.com/agents/#mcp