Quantitative Researcher

The Role

We are seeking a Quantitative Associate to join our Market Operations team at our crypto exchange. This role is critical to maintaining efficient, competitive, and well-priced markets across spot and derivatives trading platforms. You will be responsible for market quality monitoring, derivatives pricing oversight, quantitative analysis of order books, and development of data-driven insights to improve spreads, depth, and pricing integrity. This is a hands-on quantitative role working closely with trading, market making, product, and engineering teams in a fast-paced, 24/7 market environment.

Responsibilities

Market Quality Management

• Own and optimize spread and depth metrics across spot and futures order books
• Monitor real-time order book dynamics to maintain target spread and liquidity levels across market conditions
• Analyze historical spread and depth patterns to identify improvement opportunities
• Develop systematic, data-driven approaches to enhance market quality

Derivatives Pricing Oversight

• Monitor and manage price deviations between derivatives contracts and corresponding mark prices
• Track and analyze price differentials between internal derivatives products and global benchmarks (Binance, OKX, Bybit, Deribit, CME)
• Investigate pricing anomalies and coordinate with trading, market making, and engineering teams to resolve issues
• Minimize basis risk and ensure pricing integrity across derivatives books

Risk Monitoring & Quantitative Analysis

• Build and maintain dashboards and alerting systems for market quality and pricing metrics
• Conduct post-trade analysis to evaluate market making effectiveness
• Perform statistical analysis on order book dynamics, pricing deviations, and market microstructure behavior
• Support data-driven decision-making through quantitative insights

Cross-Functional Collaboration

• Work closely with Trading, Product, and Engineering teams to understand market making strategies
• Partner with Engineering to implement monitoring tools, automated alerts, and systematic pricing improvements
• Communicate findings and recommendations clearly to senior stakeholders

Requirements

• Bachelor's or Master's degree in Mathematics, Statistics, Physics, Computer Science, Finance, Economics, or related quantitative field
• 1–3 years of experience in quantitative trading, market making, or market surveillance (crypto or traditional derivatives preferred)
• Strong understanding of market microstructure, order book dynamics, and derivatives pricing principles
• Technical proficiency in Python (pandas, numpy, scipy), SQL, and large time-series datasets
• Strong foundation in statistics and probability applied to financial markets
• Analytical rigor with ability to extract actionable insights from complex datasets
• Attention to detail with high vigilance on pricing accuracy and market quality metrics
• Problem-solving mindset with proactive, systematic approach to issue resolution
• Communication skills to explain technical concepts to diverse audiences
• Comfort operating in fast-moving, 24/7 market environments
• Strong team orientation across trading, quant, and engineering functions

Nice to Have

• Prior experience at a crypto exchange, trading firm, or HFT environment
• Familiarity with perpetual futures, dated futures, and options
• Experience with real-time data processing and monitoring systems
• Knowledge of market making algorithms and liquidity provision strategies
• Understanding of funding rates, index pricing, and mark price methodologies in crypto derivatives
• Experience with Tableau, Grafana, or similar visualization tools
• Python or Rust coding capabilities

Technical Skills

Programming

• Python
• SQL
• APIs
• Real-time data streams

Tools

• Jupyter notebooks
• Git
• Linux / command line

Mathematics

• Statistics
• Probability
• Time-series analysis
• Optimization

Financial Knowledge

• Derivatives pricing
• Market microstructure
• Risk metrics

Success Metrics

You'll know you're winning when:

• Arbitrage strategies are developed and deployed based on funding and pricing inefficiencies in derivatives books
• Market quality metrics (spreads, depth, pricing deviations) show consistent improvement
• Pricing anomalies are detected early and resolved quickly
• Quantitative insights directly influence trading and market making decisions

Work Location

We operate as a work-from-office organization based out of Bangalore, where collaboration, speed, and innovation happen in real time.

Benefits

• Flexible benefits structure
• Unlimited wellness leaves
• Mental wellness support
• Bi-weekly learning and growth sessions