Arbelos Markets Raises $28M

Arbelos Markets, a NYC-based principal liquidity provider in crypto derivatives markets, raised $28m in a mix of seed equity and debt financing.

The round was led by Dragonfly Capital with participation from Room40 Ventures, Selini Capital and Breed VC, corporate partners FalconX, Circle Ventures, Paxos, P2 Ventures (formerly Polygon Ventures), Deribit, Chorus One, StarkWare and Immutable, and angel investors at Aevo, Cega, Talos, Amberdata, and Framework.

The company plans to use the new funds to further improve its quant trading infrastructure, hire talent, and expand its access to new markets and its range of products.

Founded in 2023 by veteran industry operators and derivative traders Joshua Lim and Shiliang Tang, Arbelos Markets is a principal liquidity provider in crypto derivatives markets. Its proprietary Transparency Engine enables real-time visibility and verifiability across its portfolio of risk. The firm provides liquidity 24/7 across centralized markets, on-chain protocols, and more bespoke hedging and yield generation solutions.

In its first six months since launch, Arbelos Markets has emerged as a top-five liquidity provider globally in options block liquidity with total derivatives trading volume exceeding $25 billion notional across bilateral, on-exchange and on-chain orderbook and RFQ channels.