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How Does the Introduction of a New Crypto Derivative Product Impact the Initial Fill Rate Expectations?

The initial fill rate for a new product is typically low because liquidity is scarce, price discovery is uncertain, and market makers are cautious. Spreads are wide to compensate for the higher risk.

As the market matures and confidence grows, spreads tighten, and the fill rate for competitive quotes generally increases.

What Is a Swap Curve and How Is It Used?
How Does the Capital Efficiency of a Market Maker Change with a Consistently High Fill Rate?
Does the Presence of High Interest Rates Increase or Decrease the Value of the Early Exercise Feature?
How Is the ‘Risk-Free Rate’ Assumption in Black-Scholes Adapted for Crypto Options?