Supported exchanges

We currently support the following exchange for the off-exchange feature:

Generic highlights

Supported assets

Not all assets supported by an exchange can also be accepted by the exchange as collateral. In the particular exchange sections below you can find the assets supported as collateral by each specific exchange.

In case you accidentally send unsupported assets to your CVA:

• We expect the exchange would not credit you for these assets.
• You should be able to withdraw these assets from your CVA.
  • If removing the collateral fails, you must ask the exchange’s support team to confirm the collateral removal request.
• Contact Fireblocks support if needed.

Settlements

Exchanges are responsible for calculating settlements and sending settlement instructions to Fireblocks which contain the transactions to and from CVAs. The settlement process may vary between exchanges in the following parameters:

1. Settlement calculation: Gross/Net
2. Settlement windows:

• Settlement cycles: each exchange defines the duration and timing of each settlement cycle. Additionally, an exchange can determine whether you are allowed to request ad-hoc settlements.
• Settlement approval SLA time: the time provided to you for reviewing and approving/signing settlement transactions before they are sent to the exchange for auto-approval by the collateral signer.
• Settlement review SLA time: the time provided to you and to the exchange to manage a dispute in case of rejection/failure before the transaction is sent for Forced settlement by the exchange’s collateral signer.

Settlement threshold

A settlement threshold is the minimal amount above which a settlement request is sent. Any balance under that threshold does not warrant settlement. 

Deribit Off-Exchange parameters

Exchange account connection

• Supported account types:
  The Deribit Main account can be set up for off-exchange (balance calculation for settlements will include all sub-accounts. The user should configure the sub-accounts on the Fireblocks exchange connection to see the distribution of assets between main and sub-accounts). There is no limitation on the types of products available when using the Fireblocks off-exchange settlement, however, when using the cross-collateral margin mode, we currently restrict negative balances of any currency. When a currency balance goes negative, we execute a cash rebalancing spot trade to cover the shortfall from another available currency. This limitation will be addressed towards the end of Q1 2025 to allow clients to take full advantage of the cross-collateral margin mode.
• Account Level integration:
  The connection takes place on the main account level, but includes all sub-accounts.
• Specific API User configuration:
  To establish the exchange connection on Fireblocks, the API key created on Deribit should have the following scopes: 
  • Account: read/write
  • Wallet: read/write 
  • Custody: read/write

  For the 2FA configuration, the long alphanumeric code above the QR code on Deribit’s UI should be used, rather than the 6-digit 2FA code. This code is visible only at the time of creation and cannot be retrieved later on.

• Exchange balance reflection:
  Fireblocks’s UI has 3 columns:
  • Available amount: the balance available for opening new positions / withdrawable
  • Collateral amount: the CVA on-chain balance
  • Credit amount: the mirrored amount on Deribit from the collateral in the CVA

Credit limits

• Default credit limits for onboarding customers:
  During the onboarding phase, a default CVA limit of 0.09 is imposed in order to not trigger settlements, as the settlement threshold is 0.1. When going live, a suitable approach is discussed with each customer. They can decide to store all assets in the CVA at once, or gradually increase their CVA limits. 

Supported assets

• Refer to Deribit's supported tokens table here.
• The settlement threshold for each currency is 0.1 by default and can be customized per user per token by request.

Settlements

Settlement process

• Process description: 
  Internal calculations run between 8-8.05am UTC daily to close out the previous (past 24 hours) trading session. A settlement request is sent to Fireblocks at 8.30am UTC daily. 
  • For losses (CVA to Deribit direction): there is a two-hour review window. If a transaction is approved during the review window, it settles. If rejected within the review window - the customer should raise a dispute to Deribit for investigation, otherwise the transaction will force-settle 23 hours after the original settlement initiation, i.e. at 7.30am UTC the following day. If no action is taken, the transaction auto-settles at the end of the review window, i.e. at 10.30am UTC. 
  • For profits (Deribit to CVA direction): there is a 23 hour review window. If a transaction is approved during the review window, it settles. If rejected or no action is taken, the transaction expires at Deribit, and Deribit initiates a new settlement instruction of an updated amount at the next cycle.

• Who can trigger settlements: only the exchange, per its cycle
• Gas Management
  10% of ETH deposits is reserved for gas, with a cap of 0.01 ETH. Reserved gas fees may be manually altered by Deribit admins if required.

Settlement window

• Settlement cycles:
  Once a day at 8.30am UTC. However, there is no limitation on the customer to access the funds between two settlements. Any withdrawal request goes through a real-time balance examination and is approved if there are available funds to withdraw.
• Settlement approval SLA time: 
  • CVA > Deribit:
    • Two-hour review window until 10.30am UTC.
    • Auto-settlement at 10.30am UTC if no approval/rejection takes place.
    • If rejected: marking as candidate for forced settlement at 7.30am UTC+1
  • Deribit > CVA:
    • 23-hour review window.
    • If approved: settlement transaction generated at the time of approval.
    • If rejected or nothing done: instructions expire at 7.30am +1 and new instructions with an updated amount are sent at 8.30am.
• Settlement Review SLA time: As explained above.

Bybit Off-Exchange parameters

Exchange account connection

• Supported account types: Customized UTA 2.0.
  • Note: Dedicated accounts are used for Off Exchange (OE). In order to open an Off-Exchange account contact your Bybit RM and provide a new email address to register. 
• Account Level integration: Main account binding.
  • Note: Sub-accounts can be created on Bybit for the Off-Exchange account, and Off-Exchange credit can be re-allocated to the sub-accounts.
• Specific API User configuration: N/A
• Exchange balance reflection: 
  • Available amount: The transferable amount in Bybit's main account.
  • Collateral amount: The on-chain CVA balance
  • Credit amount: The total wallet balance of the master and sub-accounts in Bybit.

Credit limits

• Default credit limits for onboarding customers: Default of 10M USD. You can apply for a higher limit through your Bybit account manager. 

Supported assets

Settlements

Settlement process

• Process description: Bybit will conduct the clearing and settlement based on the sum of the changes in main and sub-account wallet balances.  
• Who can trigger settlements: Customers and Bybit can both trigger settlement. While there is an ongoing settlement, any new settlement request will be rejected. Bybit will always trigger settlements periodically.

• Gross/Net settlement: Net. 
• Gas fee processing:
  • Directions: fee processing
  • CVA > Bybit: The actual consumption fee on the chain will be deducted afterwards to ensure consistency between the balances on both sides. Fee deduction transaction log on Bybit will be: CUSTODY_NETWORKFEE (Custody Network Fee). This transaction type is the same as the custody unlocking fee.
  • Bybit > CVA: CVA will receive the net amount and Bybit will record transaction fees for users (method of collection to be determined).

Settlement window

• Settlement cycles: Every 12hrs. UTC +0 00:00 & 12:00.
• Settlement Approval SLA time: 4 hours.
• Settlement Review SLA time: 48 hours.

HTX Off-Exchange parameters

Exchange account connection

• Supported account types: Spot ,Futures, Margin
• Account Level integration: Main account
• Specific API User configuration: For API documentation on creating a sub-account see here
• Exchange balance reflection: They are reflected on our spot, futures and margin account balances

Credit limits

• Default credit limits for onboarding customers: 
  • BTC: 2
  • ETH: 40
  • TRX: 1,000,000
  • USDT: 3,500,000

Note:  HTX will accommodate in real time according to customer needs, and the final result will be subject to communication with HTX personnel.

Supported assets

Blockchain	Asset
ERC20	ETH
TRC20	USDT
ERC20	USDT
BTC	BTC

Settlements

Settlement process

1. Scheduled Settlement

• Initiating Settlement
  If your settlement amount meets HTX’s minimum withdrawal amount, and the one-way settlement amount is ≥ 1000 USDT, the system will initiate a daily settlement at 09:00:00 (UTC+8).
• Automatic Signature for Settlement
  You have 24 hours to sign the settlement. If not signed within 24 hours, the settlement will be automatically canceled.
• Co-signer Signature
  The system requires a signature within 4 hours after initiation. For users agreeing to use the Co-signer feature, the system will automatically sign on their behalf if they forget to do so. However, those who have not agreed to use this feature must sign within 24 hours, or the settlement will fail due to timeout.

2. Risk Control Settlement
   The system will automatically settle when losses reach a certain ratio and threshold.

• Trigger conditions
  1. You need to have credit of more than 1000 USDT, and the total amount of your accrued Loss across all your accounts must be more than 5% of your total credit. For example, if you have 1000 USDT in credit, but across your account balance sheet you have accrued 50 USDT loss (50/1000 = 0.05 (5%)), this will trigger a settlement.
  2. When the loss amount reaches a certain upper limit of 50,000 USDT, settlement will be triggered.
     Note: HTX will adjust in real time according to user needs, and the final result will be subject to communication with HTX personnel.

• App signature
  After settlement is triggered, you still need to complete the signature via the app.
• Completion of settlement
  Settlement will be completed after being signed via the app.
  
  

3. HTX-Initiated Settlement
   If a user is involved in security, risk control, or compliance violations, HTX will initiate the settlement process. There is no minimum settlement amount limit for this settlement mode.
   
   
4. User Manual Settlement
   You can settle manually after trading by selecting the Settle button. There is no minimum settlement amount limit for this settlement mode.
   
   

 Settlement window

• Settlement cycles: 09:00:00(UTC+8) every day
• Settlement Approval SLA time: 4 hours
• Settlement Review SLA time: 48 hours