Deribit review: Exchange lifts USDC rewards to 7.5% APR through year-end

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Jose Antonio Gastelum

23.11.2025

Deribit review: Exchange lifts USDC rewards to 7.5% APR through year-end — Deribit raises stablecoin returns

Cryptocurrency derivatives exchange Deribit is raising the reward rate for USD Coin (USDC) balances held on its platform, offering users one of the most competitive yields available in the market. The promotional increase—effective November 18 through December 31, 2025—will lift the annual percentage rate on eligible balances to 7.5% APR, more than double the platform’s current standard USDC reward level.

The initiative comes as yields from futures-based “cash-and-carry” trades decline across the industry. With annualized premiums on dated futures contracts now sitting slightly above 5%, Deribit’s promotional rate offers traders a rare opportunity to earn a higher return without locking funds or engaging in basis trading.

How the boosted rate works

Under the updated structure, the first 250,000 USDC held across a user’s entire Deribit account—including both main and subaccounts—will earn the enhanced 7.5% APR. Any amount above that threshold will continue to receive the standard reward rate, currently 3.6% APR for November. Rewards are calculated daily and paid monthly, with November payouts expected on December 9.

Deribit clarified that boosted rewards are allocated in a specific sequence: USDC held in the main account is counted first, followed by subaccounts in chronological order. The structure ensures users are compensated consistently regardless of how they organize their balances internally.

The exchange also emphasized that only the ERC-20 version of USDC is supported for deposits. Users in eligible jurisdictions can participate, though Deribit notes that the USDC rewards eligibility list differs from its general list of restricted jurisdictions.

Supporting traders with improved incentives

Deribit has simultaneously rolled out automated VIP fee tiers, allowing users to qualify for discounted fees simply by holding 100,000 USDC on the platform. The upgrade can be achieved in as little as one day, creating an additional incentive to maintain balances during the promotional period.

For active derivatives traders, the combination of elevated yields, potential fee benefits, and the utility of USDC as trading collateral underscores Deribit’s broader strategy to attract and retain high-value clients.

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