Quant Researcher

About Us

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.

The 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.

Responsibilities

• Design advanced market making algorithms
• Design pricing and hedging algorithms for Spot and Futures markets, specifically managing basis and funding-rate risk across the two
• Research and optimise intelligent liquidation models to minimise market impact and slippage in high-leverage Futures environments
• Develop models for optimal quoting, spread setting, and inventory management that hold up across varied market conditions
• Analyse limit order book (LOB) dynamics to identify "toxic flow" from sophisticated actors, and aggregate liquidity across fragmented CEX/DEX venues
• Build models to detect shifts in market volatility and liquidity so our bots can widen or tighten spreads as regimes change
• Build predictive models for inventory risk management, ensuring optimal position sizing across volatile crypto assets
• 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
• Conduct long-term research on liquidity provision in emerging crypto sub-sectors (e.g. L2s, Perpetual DEXs)
• Author BRDs (Business Requirement Documents) to guide the Quant dev team in implementing your strategy and agent architectures
• Develop rigorous backtesting environments — including adversarial stress scenarios such as flash crashes and exchange outages — to validate MM strategies before deployment
• Use AI-driven pipelines to automate feature engineering and scale backtesting across thousands of crypto pairs, accelerating the research loop

Requirements

• 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
• Expert proficiency 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
• Interest or experience applying modern AI/ML — Reinforcement Learning, LLMs, or agentic frameworks — to financial time-series and research automation

Benefits

• 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

Work Location

This role is based out of our Bengaluru HQ, where we operate as a work-from-office organisation. We believe the best ideas emerge when people build together, and collaboration, speed and trust come alive when teams share the same space.