diff --git a/exchanges/deribit/deribit.go b/exchanges/deribit/deribit.go
index f4787df6be4..4bbe7c31fdb 100644
--- a/exchanges/deribit/deribit.go
+++ b/exchanges/deribit/deribit.go
@@ -7,7 +7,6 @@ import (
 	"fmt"
 	"net/http"
 	"net/url"
-	"regexp"
 	"strconv"
 	"strings"
 	"time"
@@ -28,12 +27,6 @@ type Deribit struct {
 	exchange.Base
 }
 
-var (
-	// optionRegex compiles optionDecimalRegex at startup and is used to help set
-	// option currency lower-case d eg MATIC-USDC-3JUN24-0d64-P
-	optionRegex *regexp.Regexp
-)
-
 const (
 	deribitAPIVersion = "/api/v2"
 	tradeBaseURL      = "https://www.deribit.com/"
@@ -43,8 +36,7 @@ const (
 	tradeFuturesCombo = "futures-spreads/"
 	tradeOptionsCombo = "combos/"
 
-	perpString         = "PERPETUAL"
-	optionDecimalRegex = `\d+(D)\d+`
+	perpString = "PERPETUAL"
 
 	// Public endpoints
 	// Market Data
@@ -2837,20 +2829,19 @@ func (d *Deribit) formatFuturesTradablePair(pair currency.Pair) string {
 	return instrumentID
 }
 
-// optionPairToString to format and return an Options currency pairs with the following format: MATIC_USDC-6APR24-0d98-P
-// it has both uppercase or lowercase characters, which we can not achieve with the Upper=true or Upper=false
+// optionPairToString formats an options pair as: SYMBOL-EXPIRE-STRIKE-TYPE
+// SYMBOL may be a currency (BTC) or a pair (XRP_USDC)
+// EXPIRE is DDMMMYY
+// STRIKE make include a d for decimal point in linear options
+// TYPE is Call or Put
 func (d *Deribit) optionPairToString(pair currency.Pair) string {
-	subCodes := strings.Split(pair.Quote.String(), currency.DashDelimiter)
 	initialDelimiter := currency.DashDelimiter
-	if subCodes[0] == "USDC" {
+	q := pair.Quote.String()
+	if q[:4] == "USDC" && len(q) > 11 { // Linear option
 		initialDelimiter = currency.UnderscoreDelimiter
+		// Replace a capital D with d for decimal place in Strike price
+		// Char 11 is either the hyphen before Strike price or first digit
+		q = q[:11] + strings.Replace(q[11:], "D", "d", -1)
 	}
-	for i := range subCodes {
-		if match := optionRegex.MatchString(subCodes[i]); match {
-			subCodes[i] = strings.ToLower(subCodes[i])
-			break
-		}
-	}
-
-	return pair.Base.String() + initialDelimiter + strings.Join(subCodes, currency.DashDelimiter)
+	return pair.Base.String() + initialDelimiter + q
 }
diff --git a/exchanges/deribit/deribit_test.go b/exchanges/deribit/deribit_test.go
index 50bfea11b8e..a926c3d4621 100644
--- a/exchanges/deribit/deribit_test.go
+++ b/exchanges/deribit/deribit_test.go
@@ -3751,18 +3751,15 @@ func TestFormatFuturesTradablePair(t *testing.T) {
 
 func TestOptionPairToString(t *testing.T) {
 	t.Parallel()
-	optionsList := map[currency.Pair]string{
+	for pair, exp := range map[currency.Pair]string{
 		{Delimiter: currency.DashDelimiter, Base: currency.BTC, Quote: currency.NewCode("30MAY24-61000-C")}:      "BTC-30MAY24-61000-C",
 		{Delimiter: currency.DashDelimiter, Base: currency.ETH, Quote: currency.NewCode("1JUN24-3200-P")}:        "ETH-1JUN24-3200-P",
 		{Delimiter: currency.DashDelimiter, Base: currency.SOL, Quote: currency.NewCode("USDC-31MAY24-162-P")}:   "SOL_USDC-31MAY24-162-P",
 		{Delimiter: currency.DashDelimiter, Base: currency.MATIC, Quote: currency.NewCode("USDC-6APR24-0d98-P")}: "MATIC_USDC-6APR24-0d98-P",
-	}
-	for pair, instrumentID := range optionsList {
-		t.Run(instrumentID, func(t *testing.T) {
-			t.Parallel()
-			instrument := d.optionPairToString(pair)
-			require.Equal(t, instrumentID, instrument)
-		})
+		{Delimiter: currency.DashDelimiter, Base: currency.MATIC, Quote: currency.NewCode("USDC-8JUN24-0D99-P")}: "MATIC_USDC-8JUN24-0d99-P",
+		{Delimiter: currency.DashDelimiter, Base: currency.MATIC, Quote: currency.NewCode("USDC-6DEC29-0D87-C")}: "MATIC_USDC-6DEC29-0d87-C",
+	} {
+		assert.Equal(t, exp, d.optionPairToString(pair), "optionPairToString must return correctly")
 	}
 }
 
diff --git a/exchanges/deribit/deribit_wrapper.go b/exchanges/deribit/deribit_wrapper.go
index 56acd0eb070..0e62d5fbf0e 100644
--- a/exchanges/deribit/deribit_wrapper.go
+++ b/exchanges/deribit/deribit_wrapper.go
@@ -4,7 +4,6 @@ import (
 	"context"
 	"errors"
 	"fmt"
-	"regexp"
 	"sort"
 	"strconv"
 	"strings"
@@ -188,9 +187,6 @@ func (d *Deribit) Setup(exch *config.Exchange) error {
 		return err
 	}
 
-	// setup option decimal regex at startup to make constant checks more efficient
-	optionRegex = regexp.MustCompile(optionDecimalRegex)
-
 	return d.Websocket.SetupNewConnection(stream.ConnectionSetup{
 		URL:                  d.Websocket.GetWebsocketURL(),
 		ResponseCheckTimeout: exch.WebsocketResponseCheckTimeout,