Overview
Supported exchanges
We support the following exchanges for the Fireblocks Off Exchange feature.
| Exchange | Status |
| Deribit | Available |
| ByBit | Available |
| HTX | Early Access |
| GateIO | Early Access |
Supported assets
Not all assets supported by an exchange can be accepted by the exchange as collateral. In the exchange sections below, you can find the assets supported as collateral by each exchange.
If you accidentally send unsupported assets to your CVA:
- The exchange should 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 containing the transactions to and from CVAs. The settlement process may vary between exchanges in the following parameters:
- Settlement calculation: Gross/Net
- 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 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
Supported account types
The Deribit Main account can be set up for off-exchange. Balance calculation for settlements will include all the Main account's sub-accounts. The user should configure the sub-accounts on the Fireblocks exchange connection to see the distribution of assets between the main and sub-accounts.
There is no limitation on the types of products available when using the Fireblocks off-exchange settlement. However, negative balances of any currency are restricted when using the cross-collateral margin mode. 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 instead of the 6-digit 2FA code. This code is visible only at the time of creation and cannot be retrieved later on.
Exchange balance reflection
The Fireblocks UI has three 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
Default credit limits for onboarding customers
During the onboarding phase, a default CVA limit of 0.09 is imposed to avoid triggering settlements, as the settlement threshold is 0.1.
When going live, a suitable approach is discussed with each customer. You can decide to store all assets in the CVA at once or gradually increase your CVA limits.
Refer to Deribit's supported tokens table here.
By default, the settlement threshold for each currency is 0.1, but it can be customized per user per token by request.
Settlement process
Internal calculations run daily between 8.00-8.05 AM UTC to close out the previous trading session (the previous 24 hours). A settlement request is sent daily to Fireblocks at 8.30 AM UTC.
- Losses have a two-hour review window (From your CVA to Deribit). If a transaction is approved during the review window, it settles. If it is rejected within the review window, you can dispute the review with Deribit for investigation. Otherwise, the transaction will automatically settle 23 hours after the original settlement initiation. This is typically at 7.30 AM UTC the following day. If no action is taken, the transaction auto-settles at the end of the review window, typically at 10.30 AM UTC.
- Profits have a 23-hour review window (from Deribit to your CVA). If a transaction is approved during the review window, it settles. If it is rejected or no action is taken, the transaction expires on Deribit, and Deribit initiates a new updated settlement amount during the next cycle.
Who can trigger settlements?
Only the exchange, per its cycle.
Gas management
10% of ETH deposits are 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 8.30 AM UTC. However, you have no limitation on accessing your funds between two settlements. Any withdrawal request goes through a real-time balance examination and is approved if funds are available to withdraw.
Settlement approval SLA time
For CVA > Deribit:
- Two-hour review window until 10.30 AM UTC.
- Auto-settlement at 10.30 AM UTC if no approval/rejection takes place.
- If rejected: marking as a candidate for forced settlement at 7.30 AM UTC+1
For Deribit > CVA:
- 23-hour review window.
- If approved, the settlement transaction is generated at the time of approval.
- If rejected or nothing done: instructions expire at 7.30 AM and new instructions with an updated amount are sent at 8.30 AM.
Settlement Review SLA time
As explained above.
Bybit Off-Exchange parameters
Supported account types
Dedicated customized UTA 2.0 accounts are used for Off Exchange. To open an Off Exchange account, contact your Bybit CSM and provide a new email address to register.
Account Level integration
The Off Exchange connection must be made using a ByBit Off Exchange main account. Bybit sub-accounts can be configured afterwards, but can't transfer collateral.
Specific API User configuration
Not applicable.
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
Default credit limits for onboarding customers
Default of 10M USD. You can apply for a higher limit through your Bybit account manager.
| Blockchain | Asset | Settlement threshold (Optional) | Comments |
| ADA | ADA | 250 | |
| BSC | BNB | 0.5 | |
| BTC | BTC | 0.1 | |
| DOGE | DOGE | 700 | |
| DOT | DOT | 20 | Lease Reserve 1 |
| ETH | AAVE | 2 | |
| ETH | DAI | 100 | |
| ETH | ETH | 0.5 | |
| ETH | LINK | 7 | |
| ETH | USDC | 100 | |
| ETH | USDE | 100 | |
| ETH | USDT | 100 | |
| LTC | LTC | 2 | |
| SOL | SOL | 1 | |
| XRP | XRP | 200 | Lease Reserve 10 |
Settlement process
Bybit will conduct the clearing and settlement based on the sum of the changes in the main and sub-account wallet balances.
Who can trigger settlements?
Customers and Bybit can both trigger settlement. While an ongoing settlement is in place, any new settlement request will be rejected. Bybit triggers settlements periodically.
Gross/Net settlement
Net.
Gas management
For 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.
For Bybit > CVA:
- CVA will receive the net amount, and Bybit records transaction fees for users (method of collection to be determined).
Settlement windows
- Settlement cycle: Every 12 hours (UTC +0 06:00 and 18:00)
- Settlement approval SLA time: 2 hours
- Settlement review SLA time: 48 hours
HTX Off-Exchange parameters
- Supported account types: Spot, Futures, Margin
- Account Level integration: Main account
- API User configuration: See the HTX API documentation on creating a sub-account.
- Exchange balance reflection: Spot, futures, and margin account balances are displayed.
Default credit limits for onboarding customers
- BTC: 2
- ETH: 40
- TRX: 1,000,000
- USDT: 3,500,000
HTX can adjust credit limits in real time according to customer needs. The final result is subject to communication with HTX.
| Blockchain | Asset | Settlement threshold |
| Bitcoin | BTC | 0.00035 |
| Ethereum | ETH | 0.0031 |
| Ethereum | USDT | 4.177946 |
| TRON | TRX | 16 |
| TRON | USDT | 2 |
Settlement thresholds may change. To find the current minimum withdrawal amount, call HTX's GET https://api.huobi.pro/v2/reference/currencies API endpoint.
The minimum withdrawal amount is the sum of minWithdrawAmt and transactFeeWithdraw.
Settlement processes
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.
Risk control settlement
The system will automatically settle when losses reach a certain ratio and threshold.
Trigger conditions
- You need a 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 your total account balance sheet has accrued 50 USDT loss (50/1000 = 0.05 = 5%), this will trigger a settlement.
- When the loss amount reaches an upper limit of 50,000 USDT, settlement is triggered.
HTX can adjust trigger conditions in real-time according to customer needs. The final result is subject to communication with HTX.
App signature & settlement completion
After a settlement is triggered, complete the signature via the Fireblocks mobile app. Settlement is completed after the transaction is signed via the Fireblocks app.
HTX-initiated settlement
If a user is involved in security, risk control, or compliance violations, HTX will initiate the settlement process.
Manual user settlement
You can settle manually after trading by selecting the Settle button. This has no minimum settlement amount limit.
Settlement windows
- Settlement cycles: 9:00 AM (UTC +8) every day
- Settlement approval SLA time: 4 hours
- Settlement review SLA time: 48 hours