Quant Researcher

CoinDCX; Bengaluru; On-site; INR 1,800,000 - 3,600,000; Full time

Benefits offered by this job

Flexible benefits

Unlimited wellness leaves

Mental wellness support

Bi-weekly learning sessions

Job summary

CoinDCX Bengaluru HQ is seeking a Quantitative Researcher to lead research into crypto market making across Spot and Futures. You will design pricing, hedging, and risk models that keep liquidity competitive and profitable in 24/7 markets.

The role focuses on long-term structural improvements to the market making engine, reading order book dynamics, regime shifts, and maintaining model health with automated monitoring and AI-driven pipelines.

Qualifications

• Experience in market-making or high-frequency environments.
• Strong Python and data processing skills.
• Familiarity with AI/ML techniques in time-series.
• Ability to design robust risk controls for crypto markets.

Responsibilities

• Design advanced market making algorithms for Spot and Futures.
• Develop pricing and hedging models for crypto markets.
• Research and optimize liquidation logic to minimize impact.
• Analyze order book dynamics and market regimes for adaptive strategies.
• Build predictive risk models for inventory management.
• Develop backtesting environments with adversarial scenarios.

Skills

Market making

Python

AI/ML

Risk management

Backtesting

Tools

Backtesting framework

Tick-level data processing

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 India’s 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 what’s next.

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

Quantitative Researcher — Spot & Futures Market Making

About The Role

This isn’t 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. You’ll 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 You’ll Do

• Design advanced market making algorithms


• Adaptive Pricing & Hedging: Design pricing and hedging algorithms for Spot and Futures markets, specifically managing basis and funding-rate risk across the two.


• Liquidation Logic: Research and optimise intelligent liquidation models to minimise market impact and slippage in high-leverage Futures environments.


• Quoting & Inventory: Develop models for optimal quoting, spread setting, and inventory management that hold up across varied market conditions.


• Research crypto microstructure & signals


• Order Book Intelligence: Analyse limit order book (LOB) dynamics to identify “toxic flow” from sophisticated actors, and aggregate liquidity across fragmented CEX/DEX venues.


• Regime Detection: Build models to detect shifts in market volatility and liquidity so our bots can widen or tighten spreads as regimes change.


• Build predictive risk & strategy monitoring


• Risk Prediction: Build predictive models for inventory risk management, ensuring optimal position sizing across volatile crypto assets.


• Strategy Health: Design monitoring that detects strategy decay or anomalous P&L behaviour on live bots before it becomes critical — leveraging automated, always-on “watchdog” agents for 24/7 coverage.


• Emerging Venues: Conduct long-term research on liquidity provision in emerging crypto sub-sectors (e.g. L2s, Perpetual DEXs).


• Technical Blueprints: Author BRDs (Business Requirement Documents) to guide the Quant dev team in implementing your strategy and agent architectures.


• Robust Backtesting: Develop rigorous backtesting environments — including adversarial stress scenarios such as flash crashes and exchange outages — to validate MM strategies before deployment.


• Research Automation: Use AI-driven pipelines to automate feature engineering and scale backtesting across thousands of crypto pairs, accelerating the research loop.

You’ll Excel in This Role If You

• Market Making Research: Have built mathematical models and backtesting frameworks specifically for market-making or high-frequency environments.


• Crypto Native Mindset: Have a deep understanding of crypto-specific nuances: funding rates, perpetual swaps, basis, CEX vs. DEX liquidity, and on-chain data.


• Data Tooling: Are an expert in Python, with experience handling tick-level data and high-throughput data pipelines.


• Risk Appreciation: Focus on “Anti-Fragility” — building systems that thrive in the chaos of crypto markets through robust risk controls.


• AI/ML (a strong plus): Have interest or experience applying modern AI/ML — Reinforcement Learning, LLMs, or agentic frameworks — to financial time-series and research automation.

Hiring Process

Here’s what your journey with us looks like:

• Application Review — We assess for skills, alignment, and intent


• Recruiter Connect — A short conversation to understand you better


• Functional Round(s) — Deep dive into your approach, craft, and problem-solving


• Assignment / Simulation Round — A take-home task or live problem-solving exercise to understand how you think and execute in real scenarios


• Culture & Values Discussion — A conversation to understand our ways of working and how you thrive best


• Founder Conversation (Optional) — For certain roles and senior levels, you may meet our founders to explore strategic alignment and long‑term fit

Where We Work

We believe the best ideas emerge when people build together. Collaboration, speed and trust come alive when teams share the same space.

With this belief, we operate as a work‑from‑office organisation. This role is based out of our Bengaluru HQ, where energy, alignment and innovation move in real time.

Perks That Empower You

• Design Your Own Benefits: A flexible benefits program tailored to your lifestyle.


• Unlimited Wellness Leaves: Take time to rest and recharge as you need.


• Mental Wellness Support: Access to therapy and wellness resources.


• Learning Sessions: Bi-weekly sessions to learn, unlearn and grow continuously.

Ready to Build What’s Next?

If you’re looking for a role that gives you direct access to high-stakes decisions, deep impact and a chance to build the future of finance, this is it.

Join CoinDCX and help us make crypto accessible to every Indian, together.