Coincall order book can offer highly competitive pricing, while RFQ quotes may occasionally show a wider price difference. Traders can identify these pricing gaps, execute through RFQ and hedge the resulting exposure through the order book!
This campaign turns the process into a practical trading challenge: complete matched RFQ and order-book trades, increase your eligible arbitrage volume and unlock USDT rewards!
August 10, 00:00 UTC – August 16, 23:59 UTC
August 10, 00:00 UTC – August 16, 23:59 UTC
How it works
To generate eligible volume, a participant must complete two connected trades:
- Select an options contract on Coincall.
- Compare available RFQ quotes with the order-book price.
- Execute one side through RFQ.
- Execute the opposite side through the order book within 10 minutes.
- Increase your eligible matched volume and unlock USDT rewards.
No registration required!
Eligible trade conditions
The RFQ and order-book legs should have:
- The same underlying asset
- The same expiry
- The same strike
- The same option type
- Opposite trading directions
- Matching or partially matching quantities
Reward structure
| Eligible matched volume | Reward |
| $100,000 | 10 USDT |
| $500,000 | 40 USDT |
| $1,000,000 | 100 USDT |
| $5,000,000 | 400 USDT |
| $10,000,000 | 1,000 USDT |
Suggested Strategy: The RFQ–Order Book Edge
Pricing differences may appear between Coincall RFQ market and order book.
For example, a monthly BTC put has an order-book bid of $140 and ask of $150. A larger RFQ allows you to sell the same option at $160.
You could:
- Sell through RFQ at $160.
- Buy through the order book at $150.
- Capture a potential gross profit of $10 per contract before fees.
Check order-book depth, trading fees and slippage before executing. A large hedge may move the order-book price, so execution speed and position size matter.
Your objective: Find enough price difference to hedge the RFQ trade through the order book and retain a positive result after execution costs.
Rules
- Only successfully filled trades count.
- Trading fees and slippage are included in the participant’s actual result.
- Coincall does not guarantee the availability or profitability of pricing opportunities.
- Trades identified as market manipulation or reward abuse will be disqualified.
- Coincall reserves the right to review trading activity and make the final eligibility determination.
- Market makers, API users, brokers and institutional accounts are not eligible.
- Multiple accounts and duplicate reward claims will result in disqualification and forfeiture of rewards.
- Wash trading, self-trading, coordinated trading, artificial volume, market manipulation and excessive trading of low-premium options are prohibited.
- Automated scripts, bots or similar technical methods used to participate may invalidate all related rewards.
- Coincall may exclude or adjust any trading volume identified as abnormal or inconsistent with the campaign’s intended strategy.
- The same trading volume cannot receive rewards from multiple concurrent Coincall campaigns.
- All trades are executed at the user’s discretion. Pricing differences may change before both legs are filled, and Coincall assumes no liability for trading losses.
- Participation may be restricted in certain regions due to legal or regulatory requirements.
- In case of technical issues, system failures, force majeure or regulatory changes, Coincall may adjust, suspend or terminate the campaign.
- Coincall reserves the right to modify the campaign and retains final interpretation rights.
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