Is Derive custodial? Who holds your funds?
No. Derive is listed as non-custodial: your funds stay in a wallet you control, not with the venue (checked Nov 9, 2026). Derive code 0xA724…D65f.
Checked 2026-11-09 · 3 sources- Docs say the account is owned by your Ethereum wallet, and an escape-hatch contract lets you withdraw if the operator goes offline.
- Non-custodial does not mean risk-free. Smart-contract bugs, phishing and malicious approvals can still lose funds.
Sources: Derive Docs: public/get_instrument (live maker, taker and base fees) · Derive Docs: API Broker Program · Derive Docs: Depositing. The venue's own page wins if it disagrees with ours.
Derive
Perp DEX · 0.06% round trip. Derive, formerly Lyra, is an onchain options and perpetuals exchange. Orders match offchain, while margin and settlement are proven with zero-knowledge proofs on Ethereum, where user funds sit in L1 contracts.
Full Derive sheet: fees, custody, incidents →
More on Derive: Overview · Referral code · US alternatives · Available in the US? · KYC required? · Mobile app? · Custodial? · Supported chains