Derivatives Risk & Pricing Specialist

Bybit; Dubai; On-site; AED 450,000 - 720,000; Full time

Benefits offered by this job

Executive visibility

Competitive compensation

Global collaboration

Job summary

Bybit is seeking a Derivatives Risk Architect to build the foundational risk framework for the exchange's derivatives product line. You will design pricing logic, risk parameters, and monitoring mechanisms to keep perpetual contracts, delivery contracts, and options risk-contained under extreme market conditions.

Join a high-performance team shaping the future of digital finance. You will collaborate with cross-functional groups to implement onboarding standards for new listings, and contribute

Qualifications

• Bachelor's degree or above in a relevant field.
• 3+ years of experience related to derivatives, including traditional finance or crypto risk management.
• Deep understanding of perpetual contract mechanics and related risk concepts.
• Proficient in Python for data analysis, backtesting, and model validation.
• Solid foundation in probability, statistics, and risk measurement methods such as VaR and Expected Shortfall.

Responsibilities

• Design the perpetual contract funding rate mechanism and related risk controls.
• Participate in settlement price methodology and anti-manipulation measures.
• Design options pricing models and assess systemic risk across scenarios.
• Establish leverage/margin and Position Limit strategies per asset with dynamic depth-based adjustments.
• Design Auto-Deleveraging trigger and ranking rules for risk isolation.

Skills

Derivatives

Python

Quantitative analysis

Risk management

Education

Bachelor's degree in Finance, Mathematics, Statistics, Computer Science, or related field

Job description

Established in 2018, Bybit is one of the world's leading cryptocurrency exchanges and digital financial platforms, serving over 80 million users across more than 200 countries and regions. Powered by world-class technology and a user-first mindset, Bybit delivers a seamless ecosystem across trading, payments, wealth management, custody, institutional services, and Web3 — connecting users to the future of digital finance.

Our core values define how we build. We listen, care and improve to create products and experiences that put users first. Backed by a global team of ambitious builders, problem-solvers, and innovators, we foster a high-performance and fast-moving environment where talent is empowered to drive real impact at global scale. Supported by 24/7 multilingual customer service and a strong commitment to innovation, we are shaping the future of finance through technology, collaboration, and bold execution.

Today, Bybit is recognized as one of the most trusted and transparent platforms in the digital asset industry, continuing to expand its global presence while building the infrastructure for the next generation of financial services.

Position Overview

Responsible for building the foundational risk framework for the exchange's derivatives product line, covering pricing logic, risk parameter design, and monitoring mechanisms for perpetual contracts, delivery contracts, options, and other products. Ensures products remain risk-controllable and system-stable under extreme market conditions.

Core Responsibilities

Derivatives Financial Logic Design

• Design the perpetual contract funding rate mechanism, including funding interval, upper/lower bounds, and premium index calculation logic
• Participate in designing the settlement price methodology for delivery contracts, including TWAP/index source weighting and anti-manipulation mechanisms
• Design options pricing models (Black-Scholes, volatility surface fitting) and assess systemic risk under various market scenarios
• Establish maximum leverage multiples and Position Limit strategies for each asset, dynamically adjusted based on market depth
• Design the ADL (Auto-Deleveraging) trigger mechanism and ranking rules, optimizing both user experience and risk isolation

Risk Monitoring & Early Warning

• Design Insurance Fund utilization rules and replenishment mechanisms
• Develop circuit-breaker contingency plans and emergency response procedures for extreme market conditions (flash crashes, liquidity crises)
• Monitor abnormal deviations of Mark Price from the spot index to prevent unwarranted liquidations

Cross-Functional Collaboration

• Work with the Product team to define risk-control onboarding standards for new derivatives listings (currency liquidity, market cap, volatility thresholds)
• Participate in Market Surveillance efforts to investigate suspected manipulation, forced liquidations, wash trading, and other market misconduct

Required Qualifications

• Bachelor's degree or above in Finance, Mathematics, Statistics, Computer Science, or a related field
• 3+ years of experience related to derivatives, including traditional finance (futures/options market making, risk management) or crypto exchange risk management
• Deep understanding of perpetual contract mechanics (funding rate, Mark Price, liquidation logic) and how they differ from traditional futures
• Proficient in Python, able to independently perform data analysis, parameter backtesting, and model validation
• Solid foundation in probability theory and statistics, with an understanding of risk measurement methods such as VaR and Expected Shortfall

Preferred Qualifications

• Familiarity with options pricing theory, with experience in volatility smile/surface modeling
• Able to independently query on-chain or internal exchange data

What We Offer

• Direct leadership of a strategically important, newly formed team with executive visibility
• Opportunity to define risk frameworks from the ground up across an expanding product ecosystem
• Competitive compensation package commensurate with experience
• Fast-paced environment with real impact on business decisions

Why to Join

At Bybit, we are committed to fostering a supportive and enriching work environment. Our benefits include:

• Modern Workspace: Work in Austria's tallest office building, offering state-of-the-art facilities and panoramic views of Vienna.
• Study Growth Fund: We support your professional development and continuous learning.
• Internal Events: Participate in regular team-building activities, workshops, and events designed to promote collaboration and innovation.
• Global Collaboration: Be part of a diverse, international team, working alongside colleagues from around the world.
• Career Advancement: Access opportunities for growth and advancement within a rapidly expanding global company.