Quantitative researcher

WhiteBIT is building its own blockchain ecosystem and is hiring a Quantitative Researcher to design liquidity programs and trading strategies. The role involves advanced quantitative analysis, market microstructure, and working with exchange mechanics in crypto and TradFi.

• Design the program end-to-end: MM tiers, admission criteria, obligations (max spread, min depth, uptime, presence at touch), incentives, and graduation to subsidy-free self-sufficiency.
• Optimize the fee schedule for net capture: taker tiers priced to measured elasticity by segment; maker rebates funded from taker fees; safeguards against tier gaming.
• Design order-book mechanics for comfortable quoting: tick and lot sizing, post-only / iceberg / RPI order types, self-match prevention, minimum quote life, passive-liquidity protection options.
• Build the toxic-flow framework: markout-based flow classification, counterparty scoring, continuous monitoring, access rules or surcharges for consistently toxic takers.
• Own the program financial model and roadmap: subsidy budget with payback targets; phases bootstrap → organic profitability → self-sufficiency; a market-quality dashboard as the single source of truth.
• Own the strategy roadmap — crypto first, then TradFi FX and futures; design pricing, quoting, hedging, and execution as one portfolio.
• Run end-to-end alpha research on tick/order-book, cross-venue, funding/basis, and on-chain data.
• Design the inventory-aware hedging framework, portfolio risk limits, and parameter governance.
• Partner with engineering on low-latency implementation; validate in high-fidelity simulation and canary deployments.
• Own P&L attribution, TCA/markout analysis, and research standards.
• Lead the TradFi FX entry research workstream (LSEG FX Spot Matching, Euronext FX).

• MSc or PhD in a quantitative field; a live trading track record outweighs credentials.
• 5+ years in quantitative research or trading at a top-tier HFT firm, market maker, systematic fund, or crypto-native market maker; exchange-side market-structure experience is a plus.
• Hands-on experience with at least one TradFi asset class (FX, futures, equities) and / or equivalent crypto asset classes; both maker and taker strategies.
• Advanced probability, statistics, time-series analysis, optimization; strict validation discipline (multiple testing, out-of-sample hygiene, live–sim parity).
• Market microstructure: order-book dynamics, queue position, fill probability, adverse selection and markouts, market impact.
• Expert Python (NumPy, pandas/Polars, PyTorch); working C++ or Rust for latency-critical components.
• Tick-data engineering at scale: columnar stores, cross-venue normalization, data-quality control.
• Crypto microstructure: CEX matching engines and fee schedules, perpetuals (funding, mark price, liquidation/ADL), cross-venue arbitrage, DEX/AMM basics.
• TradFi microstructure: FX ECN mechanics (firm vs last-look liquidity, prime brokerage), listed futures; low-latency architecture (tick-to-trade path, colocation, exchange protocols).
• Inventory and hedging: quoting models of the Avellaneda–Stoikov class and extensions, multi-asset inventory optimization, hedging, settlement workflows, real-time risk limits and kill switches.
• Exchange microstructure & mechanism design: maker-taker economics and market-quality measurement, fee-tier and rebate architecture, per-segment elasticity, spread/depth/slippage/markout metrics, defenses against rebate farming and wash trading.
• Liquidity program design: obligation-based schemes (two-sided quoting, presence at touch, minimum depth, uptime) and incentive-based schemes (tiered rebates, credit lines, connectivity benefits).
• Maker protection and flow segmentation: markout-based counterparty scoring, retail price improvement (RPI) order types, asymmetric speed bumps and latency floors, minimum quote life, self-match prevention.
• Exchange P&L modeling: net fee capture, subsidy budget and payback, LP unit economics from onboarding to self-sufficiency.
• Owner mentality with direct P&L accountability; ships to production and makes honest kill decisions.
• Clear written communication with traders, engineers, exchange management, and external LPs.
• Compliance discipline across crypto and TradFi market-abuse regimes.

• Immerse yourself in Crypto & Web3: Master cutting-edge technologies and become an expert in the most innovative industry.
• Work with the Fintech of the Future: Develop your skills in digital finance and shape the global market.
• Take Your Professionalism to the Next Level: Gain unique experience and be part of global transformations.
• Drive Innovations: Influence the industry and contribute to groundbreaking solutions.
• Join a Strong Team: Collaborate with top experts worldwide and grow alongside the best.
• Work-Life Balance & Well-being: Modern equipment. Comfortable working conditions, and an inspiring environment to help you thrive.
• 24 calendar days of paid leave.
• Additional days off for national holidays.