Trades

Futures trades

Returns executed futures and perpetual trades from Deribit's public trade tape. Each row is one trade with the aggressor direction, USD-normalized value, size classification, contract type (perpetual vs dated future), liquidation markers for cascade detection, block trade flags for institutional flow, and execution slippage. Mirrors the options trades endpoint for cross-instrument analysis. Liquidation data from this table feeds the GEX pipeline cascade detection (currently DORMANT on Deribit due to portfolio margin, retained for future Binance/Bybit integration).

GET/v1/trades/futuresproalpha

Query Parameters

coinstringrequired

Underlying asset. Required.

e.g.BTCETHSOL

directionstringoptional

Filter: buy or sell.

e.g.buysell

contract_typestringoptional

Filter: perpetual or future.

e.g.perpetualfuture

size_bucketstringoptional

Filter: WHALE, LARGE, MEDIUM, SMALL, MICRO.

e.g.WHALE

instrument_idstringoptional

Filter by instrument_id (TEXT, e.g. BTC-PERPETUAL).

e.g.BTC-PERPETUAL

blocks_onlybooleanoptional

Only block (institutional) trades.

e.g.true

liquidations_onlybooleanoptional

Only liquidation trades (M/T/MT).

e.g.true

fromstringoptional

Start UTC (ISO 8601). Default: last 24h.

e.g.2026-03-09T00:00:00Z

tostringoptional

End UTC (ISO 8601). Default: now.

e.g.2026-03-10T00:00:00Z

limitintegeroptional

Max rows returned. Default 100, max 5000.

e.g.500

Response Schema

Fields marked pro require a Pro subscription. Fields marked alpha require Alpha.

Field	Type	Tier	Description
`trade_id`	`string`	pro	Globally unique trade identifier from Deribit.
`trade_seq`	`integer`	alpha	Sequential trade number within currency. For ordering and gap detection.
`coin`	`string`	pro	Underlying asset (BTC, ETH, SOL, XRP, AVAX, TRX).
`instrument_id`	`string`	pro	Instrument identifier (TEXT, e.g. BTC-PERPETUAL, SOL_USDC-28MAR26). Same as instrument_name for futures.
`instrument_name`	`string`	pro	Deribit instrument name. Identical to instrument_id for futures (kept for API consistency with options trades).
`trade_timestamp`	`datetime`	pro	Actual execution time from Deribit (millisecond precision).
`cycle_timestamp`	`datetime`	pro	ORIA cycle timestamp (aligned to 10-min grid).
`direction`	`string`	pro	Trade aggressor: buy = buyer lifted the ask, sell = seller hit the bid.
`amount`	`float`	pro	Number of contracts. Inverse futures (BTC, ETH): amount is in USD. Linear futures (SOL, XRP, AVAX, TRX): amount is in coin units.
`price`	`float`	pro	Execution price.
`index_price`	`float`	pro	Spot index price at time of trade.
`mark_price`	`float`	pro	Mark price at trade time. For execution quality analysis.
`tick_direction`	`integer`	alpha	Price tick direction: 0=down, 1=up, 2=unchanged-down, 3=unchanged-up.
`liquidation`	`string`	alpha	Liquidation flag: NULL (normal), M (maker liquidated), T (taker liquidated), MT (both). Feeds GEX pipeline cascade detection. Rare on Deribit (portfolio margin) but critical signal when it occurs.
`block_trade_id`	`string`	alpha	Non-null = institutional block trade. Reliable whale signal.
`contract_type`	`string`	pro	perpetual or future. BTC/ETH have both (inverse + USDC perpetuals, 8 dated futures). SOL/XRP/AVAX/TRX are perpetual-only.
`trade_value_usd`	`float`	pro	Trade value normalized to USD See detail ↓
`trade_size_bucket`	`string`	pro	Size classification: WHALE through MICRO See detail ↓
`execution_slippage_pct`	`float`	alpha	Execution quality: premium or discount vs mark See detail ↓

Derived Fields

FieldTypeTiercollapse all

▶trade_value_usdfloatprocollapse

Trade value normalized to USD

For inverse futures (BTC, ETH): the amount field is already in USD, so trade_value_usd = amount. For linear/USDC futures (SOL, XRP, AVAX, TRX): amount * index_price * contract_size. This asymmetry is a Deribit convention that our pipeline normalizes away.

USD normalization (inverse vs linear)

\text{trade\_value\_usd} = \begin{cases} \text{amount} & \text{inverse (BTC, ETH)} \\ \text{amount} \times \text{index\_price} \times \text{contract\_size} & \text{linear (SOL, XRP, ...)} \end{cases}

▶trade_size_bucketstringprocollapse

Size classification: WHALE through MICRO

Same USD thresholds as options trades. WHALE: >= $250K. LARGE: >= $50K. MEDIUM: >= $10K. SMALL: >= $1K. MICRO: < $1K. Generated column in PostgreSQL.

USD-based size thresholds (same as options)

\text{bucket} = \begin{cases} \text{WHALE} & \text{if } \geq \$250\text{K} \\ \text{LARGE} & \text{if } \geq \$50\text{K} \\ \text{MEDIUM} & \text{if } \geq \$10\text{K} \\ \text{SMALL} & \text{if } \geq \$1\text{K} \\ \text{MICRO} & \text{otherwise} \end{cases}

RangeWHALE, LARGE, MEDIUM, SMALL, MICRO

▶execution_slippage_pctfloatalphacollapse

Execution quality: premium or discount vs mark

How far the execution deviated from fair value. Positive = paid premium (aggressive buyer). Negative = got discount (desperate seller). In futures, large negative slippage during liquidation events is the clearest capitulation signal.

Execution slippage

\text{slippage} = \frac{\text{price} - \text{mark\_price}}{\text{mark\_price}}

RangeTypically -0.02 to +0.02. Perpetuals tighter than dated futures.

Suggested Calculations

Not included in the API response. Compute these client-side from the fields above. Formulas and context provided.

FieldTypeInputsexpand all

▶simple_buy_sell_countstringclient-sideAre more traders buying or selling futures?expand

Are more traders buying or selling futures?

Count buys vs sells. In futures, this is even more important than in options because futures are pure directional bets (no optionality). A sustained 65/35 buy/sell split on BTC perpetuals means leveraged longs are entering aggressively. Count-based is the simpler signal; USD-weighted is more accurate but this catches the big moves.

Inputsdirection

▶perp_activity_monitorstringclient-sideWhen is the perpetual market most active?expand

When is the perpetual market most active?

Filter to contract_type = perpetual, group by hour. Crypto futures trade 24/7 but activity peaks during US market hours (14:00-21:00 UTC) and Asian hours (01:00-08:00 UTC). Knowing the activity rhythm helps you distinguish "normal Tuesday afternoon" from "something is happening." A spike at an unusual hour is a signal.

Inputstrade_timestampcontract_type

▶price_vs_index_spreadfloatclient-sideIs the futures price above or below spot? The basis tells you sentiment.expand

Is the futures price above or below spot? The basis tells you sentiment.

For perpetuals: price - index_price = the basis. Positive basis = futures premium (bullish, longs pay funding). Negative = futures discount (bearish, shorts pay funding). For dated futures: a larger positive basis implies higher implied funding rate / carry. This is fundamental to futures trading and available entirely at Pro tier.

Inputspriceindex_pricecontract_type

Futures basis (spot premium/discount)

\text{basis} = \text{price} - \text{index\_price}

▶perp_vs_futures_flowstringclient-sideAre perpetual and dated futures flows agreeing?expand

Are perpetual and dated futures flows agreeing?

Compute buy pressure separately for perpetuals and dated futures. Divergence is a signal: aggressive perp buying + dated futures selling = short-term bullish, longer-term hedging. Requires filtering by contract_type and computing buy_pressure per group.

Inputscontract_typedirectiontrade_value_usd

Perpetual vs dated flow divergence

\Delta_{\text{flow}} = \text{buy\_pressure}_{\text{perp}} - \text{buy\_pressure}_{\text{dated}}

Range-1 to +1. Positive = perps more bullish than dated. Negative = opposite.

▶funding_rate_trade_alignmentfloatclient-sideIs trade flow consistent with the funding rate direction?expand

Is trade flow consistent with the funding rate direction?

Compare buy pressure from this endpoint with the funding rate from /v1/marketdata/futures. Positive funding (longs pay shorts) combined with aggressive buying = crowded long. Positive funding + aggressive selling = smart money fading the crowd.

Inputsdirectiontrade_value_usd

Or use the pre-computed endpointalpha

Funding rate available at /v1/marketdata/futures in the funding_rate and funding_8h fields.

▶liquidation_cluster_detectionbooleanclient-sideDetect cascading liquidation eventsexpand

Detect cascading liquidation events

Filter to liquidation IS NOT NULL trades, aggregate count and USD volume in rolling 1h windows. Clusters of 5+ liquidations or $100K+ liquidation volume in one hour = capitulation event. Combine with gamma regime from /v1/gex/pinning: liquidations in negative gamma territory cascade (dealers amplify), in positive gamma territory they are absorbed.

Inputsliquidationtrade_value_usdtrade_timestamp

Or use the pre-computed endpointalpha

Pre-computed liquidation cluster detection (currently DORMANT) at /v1/gex/pinning. Will activate with Binance/Bybit integration.