Deribit Reduces Margin Haircut for Lido stETH
Deribit has applied changes to Portfolio Margin parameters and Cross-Collateral haircuts for stETH. Together, these changes improve capital efficiency for stETH holders while preserving conservative risk management practices.
What this means for stETH Holders:
- stETH can be used as collateral across Deribit’s trading products
- ETH exposure can be more effectively offset under Portfolio Margin
- Margin requirements are reduced via lower cross-collateral haircuts
- Staking rewards continue to accrue while stETH is used as margin
stETH as Cross-Collateral on Deribit
stETH is supported as cross-collateral on Deribit, allowing users to post stETH as margin for open positions or orders across Deribit’s full derivatives suite, including options, futures, and perpetual contracts.
By using stETH as collateral, users can retain Ethereum staking rewards while simultaneously making use of stETH to support active trading strategies. This allows stETH to function as productive collateral without requiring users to sacrifice their staking rewards.
Portfolio Margin Update
stETH was moved into the ETH bucket within Deribit’s Extended Risk Matrix. This allows stETH positions to offset ETH exposure under Portfolio Margin.
Additional risk continues to be explicitly priced in through the applied haircut, ensuring risk assumptions remain conservative.
Cross-Collateral Haircut Adjustments
Deribit reduced the margin haircuts applied to stETH:
- Cross Portfolio Margin: 15.00% → 7.50%
- Cross Standard Margin: 15.00% → 7.50%
Lower haircuts reduce required margin when using stETH as cross-collateral, improving capital efficiency across eligible strategies.
These updates reinforce stETH’s role as a core, capital-efficient asset within Deribits institutional-grade derivatives infrastructure.
Learn more about Lido & stETH on Deribit here.
About Deribit
Deribit is a leading cryptocurrency exchange. Founded in 2016, Deribit has quickly become a trusted platform for both institutional and retail traders, offering a secure and highly efficient trading environment. With a focus on innovation and transparency, Deribit provides a wide range of advanced trading tools and deep liquidity, allowing users to hedge, speculate, and manage risk effectively. For further information, please visit www.deribit.com.
About Lido Institutional
Lido is an open-source, liquid-staking middleware, that provides a way to participate in the blockchain network validation process and get rewards for this activity. With a mission to democratise staking, Lido middleware lets users connect with node operators and stake their digital assets without the need to individually maintain hardware. Users of the middleware can interact with various third-party DeFi applications that have independently integrated and support the liquid staking tokens. For more information, visit lido.fi/institutional.
Disclaimer: All information provided herein is purely for informational purposes and does not constitute an offer, recommendation or solicitation to participate in any activity involving crypto assets. References within this website to any specific commercial product, process, or service, or the use of any trade, firm or corporation name is for the information and convenience of the public, and does not constitute endorsement, recommendation, or favoring in any form or shape. Any decision to participate should be based solely on your own due diligence and should be made only after consulting with your own legal, financial, and tax advisors.