CoinDCX – Quantitative Researcher – Spot & Futures Market Making CoinDCX

The Corporate Institute; Bengaluru; On-site; INR 900,000 - 1,500,000; Full time

Benefits offered by this job

Unlimited wellness leaves

Learning sessions

Design Your Own Benefits

Job summary

CoinDCX in Bengaluru is seeking a Quantitative Researcher focused on market making for Spot and Futures. You will design pricing, hedging, and risk models to provide liquidity in a 24/7 crypto landscape.

This role centers on long-term improvements to the MM engine, reading order book dynamics, and building adaptive strategies with AI and automation to stay ahead in volatile markets.

Qualifications

• Experience building market-making models and backtesting frameworks for crypto or high-frequency environments.
• Deep understanding of crypto nuances: funding rates, perpetuals, basis, liquidity on CEX/DEX, and on-chain data.
• Proficiency in Python with tick-level data and high-throughput data pipelines.
• Focus on anti-fragility and robust risk controls in chaotic crypto markets.
• Experience applying AI/ML reinforcement learning or agentic frameworks to financial time-series and research automation.

Responsibilities

• Design advanced market making algorithms: Adaptive Pricing & Hedging, Liquidation Logic, and Quoting & Inventory management.
• Research crypto microstructure & signals: Analyze LOB dynamics and model shifts in volatility.
• Build predictive risk & strategy monitoring: monitor for decay or anomalous P&L on live bots.
• Deep-dive R&D & tech liaison: long-term liquidity provision research and BRDs.
• Backtesting & AI-driven research pipelines: develop backtesting environments and automate feature engineering.

Skills

Python

Backtesting

Market making

Crypto knowledge

AI/ML

Reinforcement Learning

Data pipelines

Tools

Backtesting framework

AI pipelines

Job description

The CoinDCX Journey: Building the Future of Finance

At CoinDCX, our mission is clear – to make crypto and blockchain accessible to every Indian and enable them to participate in the future of finance.

As Indias first crypto unicorn valued at $2.45B, we are reshaping the financial ecosystem by building safe, transparent, and scalable products that power adoption at scale.

We believe that change starts together. It begins with bold ideas, relentless execution and people who want to build whats next.

If youre driven by purpose and thrive in environments where your work defines the next chapter of an industry, youll feel right at home here.

Quantitative Researcher – Spot & Futures Market Making

About the Role

This isnt a typical quant research role. You will spearhead our research into crypto market making across Spot and Futures markets designing the pricing, hedging, and risk models that determine how competitively and profitably we provide liquidity. In the hyper-volatile, 24/7 crypto landscape, static models decay fast, so your mandate is to build market making strategies that are adaptive, robust, and continuously improving.

This is a deep research role focused on long-term, structural improvements to our MM engine that the BAU team then deploys and manages. Youll own the hardest questions on the desk: how to price and hedge across Spot and Futures, how to read order book dynamics and market regimes, and how to keep strategies healthy in live markets using AI and automation where they give us a real edge.

What Youll Do

• Design advanced market making algorithms: Adaptive Pricing & Hedging, Liquidation Logic, and Quoting & Inventory management.
• Research crypto microstructure & signals: Analyse limit order book (LOB) dynamics and build models to detect shifts in market volatility.
• Build predictive risk & strategy monitoring: Design monitoring that detects strategy decay or anomalous P&L behaviour on live bots.
• Deep-dive R&D & tech liaison: Conduct long-term research on liquidity provision in emerging crypto sub-sectors and author BRDs.
• Backtesting & AI-driven research pipelines: Develop rigorous backtesting environments and use AI-driven pipelines to automate feature engineering.

Youll Excel in This Role If You:

• Have built mathematical models and backtesting frameworks specifically for market-making or high-frequency environments.
• Have a deep understanding of crypto-specific nuances: funding rates, perpetual swaps, basis, CEX vs. DEX liquidity, and on-chain data.
• Are an expert in Python, with experience handling tick-level data and high-throughput data pipelines.
• Focus on Anti-Fragility building systems that thrive in the chaos of crypto markets through robust risk controls.
• Have interest or experience applying modern AI/ML Reinforcement Learning, LLMs, or agentic frameworks to financial time-series and research automation.

Hiring Process

• Application Review, Recruiter Connect, Functional Round(s), Assignment / Simulation Round, Culture & Values Discussion, Founder Conversation (Optional).

Where We Work

We operate as a work-from-office organisation based out of our Bengaluru HQ.

Perks That Empower You

• Design Your Own Benefits, Unlimited Wellness Leaves, Mental Wellness Support, Learning Sessions.