diff --git a/common/derive_basepoints.c b/common/derive_basepoints.c
index a2dccc6f1..eaeb1999a 100644
--- a/common/derive_basepoints.c
+++ b/common/derive_basepoints.c
@@ -87,6 +87,85 @@ bool per_commit_point(const struct sha256 *shaseed,
 	return true;
 }
 
+bool derive_payment_basepoint(const struct secret *seed,
+			      struct pubkey *payment_basepoint,
+			      struct secret *payment_secret)
+{
+	struct keys {
+		struct privkey f, r, h, p, d;
+		struct sha256 shaseed;
+	} keys;
+
+	hkdf_sha256(&keys, sizeof(keys), NULL, 0, seed, sizeof(*seed),
+		    "c-lightning", strlen("c-lightning"));
+
+	if (payment_basepoint) {
+		if (!pubkey_from_privkey(&keys.p, payment_basepoint))
+			return false;
+	}
+
+	if (payment_secret)
+		*payment_secret = keys.p.secret;
+
+	return true;
+}
+
+bool derive_delayed_payment_basepoint(const struct secret *seed,
+				      struct pubkey *delayed_payment_basepoint,
+				      struct secret *delayed_payment_secret)
+{
+	struct keys {
+		struct privkey f, r, h, p, d;
+		struct sha256 shaseed;
+	} keys;
+
+	hkdf_sha256(&keys, sizeof(keys), NULL, 0, seed, sizeof(*seed),
+		    "c-lightning", strlen("c-lightning"));
+
+	if (delayed_payment_basepoint) {
+		if (!pubkey_from_privkey(&keys.d, delayed_payment_basepoint))
+			return false;
+	}
+
+	if (delayed_payment_secret)
+		*delayed_payment_secret = keys.d.secret;
+
+	return true;
+}
+
+bool derive_shaseed(const struct secret *seed, struct sha256 *shaseed)
+{
+	struct keys {
+		struct privkey f, r, h, p, d;
+		struct sha256 shaseed;
+	} keys;
+
+	hkdf_sha256(&keys, sizeof(keys), NULL, 0, seed, sizeof(*seed),
+		    "c-lightning", strlen("c-lightning"));
+	*shaseed = keys.shaseed;
+	return true;
+}
+
+bool derive_funding_key(const struct secret *seed,
+			struct pubkey *funding_pubkey,
+			struct privkey *funding_privkey)
+{
+	struct privkey f;
+
+	hkdf_sha256(&f, sizeof(f), NULL, 0, seed, sizeof(*seed),
+		    "c-lightning", strlen("c-lightning"));
+
+	if (funding_pubkey) {
+		if (!pubkey_from_privkey(&f, funding_pubkey))
+			return false;
+	}
+
+	if (funding_privkey)
+		*funding_privkey = f;
+
+	return true;
+}
+
 void towire_basepoints(u8 **pptr, const struct basepoints *b)
 {
 	towire_pubkey(pptr, &b->revocation);
diff --git a/common/derive_basepoints.h b/common/derive_basepoints.h
index 433d56b6d..a5b69c02b 100644
--- a/common/derive_basepoints.h
+++ b/common/derive_basepoints.h
@@ -38,6 +38,51 @@ bool derive_basepoints(const struct secret *seed,
 		       struct secrets *secrets,
 		       struct sha256 *shaseed);
 
+/**
+ * derive_funding_key - give a (per-peer) seed, get just funding key
+ * @seed: (in) seed (derived by master daemon from counter and main seed)
+ * @funding_pubkey: (out) pubkey for funding tx output (if non-NULL)
+ * @funding_privkey: (out) privkey for funding tx output (if non-NULL)
+ *
+ * This is a cut-down version of derive_basepoints.
+ */
+bool derive_funding_key(const struct secret *seed,
+			struct pubkey *funding_pubkey,
+			struct privkey *funding_privkey);
+
+/**
+ * derive_payment_basepoint - give a (per-channel) seed, get just payment basepoint
+ * @seed: (in) seed (derived by master daemon from counter and main seed)
+ * @payment_basepoint: (out) basepoint for payment output (if non-NULL)
+ * @payment_secret: (out) secret for payment basepoint (if non-NULL)
+ *
+ * This is a cut-down version of derive_basepoints.
+ */
+bool derive_payment_basepoint(const struct secret *seed,
+			      struct pubkey *payment_basepoint,
+			      struct secret *payment_secret);
+
+/**
+ * derive_shaseed - give a (per-peer) seed, get just the shaseed
+ * @seed: (in) seed (derived by master daemon from counter and main seed)
+ * @shaseed: (out) seed for shachain
+ *
+ * This is a cut-down version of derive_basepoints.
+ */
+bool derive_shaseed(const struct secret *seed, struct sha256 *shaseed);
+
+/**
+ * derive_delayed_payment_basepoint - give a (per-channel) seed, get just delayed payment basepoint
+ * @seed: (in) seed (derived by master daemon from counter and main seed)
+ * @delayed_payment_basepoint: (out) basepoint for payment output (if non-NULL)
+ * @delayed_payment_secret: (out) secret for payment basepoint (if non-NULL)
+ *
+ * This is a cut-down version of derive_basepoints.
+ */
+bool derive_delayed_payment_basepoint(const struct secret *seed,
+			      struct pubkey *delayed_payment_basepoint,
+			      struct secret *delayed_payment_secret);
+
 /**
  * per_commit_secret - get a secret for this index.
  * @shaseed: the sha256 seed
diff --git a/common/test/run-derive_basepoints.c b/common/test/run-derive_basepoints.c
new file mode 100644
index 000000000..acf54db23
--- /dev/null
+++ b/common/test/run-derive_basepoints.c
@@ -0,0 +1,157 @@
+#include "../derive_basepoints.c"
+#include <ccan/err/err.h>
+#include <ccan/mem/mem.h>
+#include <ccan/str/hex/hex.h>
+#include <ccan/structeq/structeq.h>
+#include <common/utils.h>
+#include <stdio.h>
+#include <wally_core.h>
+
+/* AUTOGENERATED MOCKS START */
+/* Generated stub for fromwire_pubkey */
+void fromwire_pubkey(const u8 **cursor UNNEEDED, size_t *max UNNEEDED, struct pubkey *pubkey UNNEEDED)
+{ fprintf(stderr, "fromwire_pubkey called!\n"); abort(); }
+/* Generated stub for towire_pubkey */
+void towire_pubkey(u8 **pptr UNNEEDED, const struct pubkey *pubkey UNNEEDED)
+{ fprintf(stderr, "towire_pubkey called!\n"); abort(); }
+/* AUTOGENERATED MOCKS END */
+
+STRUCTEQ_DEF(basepoints, 0,
+	     revocation.pubkey,
+	     payment.pubkey,
+	     htlc.pubkey,
+	     delayed_payment.pubkey);
+STRUCTEQ_DEF(secrets, 0,
+	     funding_privkey.secret.data,
+	     revocation_basepoint_secret.data,
+	     payment_basepoint_secret.data,
+	     htlc_basepoint_secret.data,
+	     delayed_payment_basepoint_secret.data);
+STRUCTEQ_DEF(privkey, 0,
+	     secret.data);
+
+struct info {
+	struct secret seed;
+	struct pubkey funding_pubkey;
+	struct basepoints basepoints;
+	struct secrets secrets;
+	struct sha256 shaseed;
+};
+
+/* We get a fresh one each time, to catch uninitialized fields */
+static struct info *new_info(const tal_t *ctx)
+{
+	struct info *info = tal(ctx, struct info);
+	memset(&info->seed, 7, sizeof(info->seed));
+
+	return info;
+}
+
+int main(void)
+{
+	setup_locale();
+
+	const tal_t *ctx = tal(NULL, char);
+	struct info *baseline, *info;
+
+	secp256k1_ctx = wally_get_secp_context();
+	baseline = new_info(ctx);
+	assert(derive_basepoints(&baseline->seed, &baseline->funding_pubkey,
+				 &baseline->basepoints,
+				 &baseline->secrets,
+				 &baseline->shaseed));
+
+	/* Same seed, same result. */
+	info = new_info(ctx);
+	assert(derive_basepoints(&info->seed, &info->funding_pubkey,
+				 &info->basepoints,
+				 &info->secrets,
+				 &info->shaseed));
+	assert(pubkey_eq(&baseline->funding_pubkey, &info->funding_pubkey));
+	assert(basepoints_eq(&baseline->basepoints, &info->basepoints));
+	assert(secrets_eq(&baseline->secrets, &info->secrets));
+	assert(sha256_eq(&baseline->shaseed, &info->shaseed));
+
+	/* Different seed, different result. */
+	for (size_t i = 0; i < sizeof(info->seed); i++) {
+		for (size_t b = 0; b < CHAR_BIT; b++) {
+			info = new_info(ctx);
+			info->seed.data[i] ^= (1 << b);
+
+			assert(derive_basepoints(&info->seed,
+						 &info->funding_pubkey,
+						 &info->basepoints,
+						 &info->secrets,
+						 &info->shaseed));
+			assert(!pubkey_eq(&baseline->funding_pubkey,
+					  &info->funding_pubkey));
+			assert(!basepoints_eq(&baseline->basepoints,
+					      &info->basepoints));
+			assert(!secrets_eq(&baseline->secrets, &info->secrets));
+			assert(!sha256_eq(&baseline->shaseed, &info->shaseed));
+		}
+	}
+
+	/* Any field can be NULL (except seed). */
+	info = new_info(ctx);
+	assert(derive_basepoints(&info->seed, NULL,
+				 &info->basepoints,
+				 &info->secrets,
+				 &info->shaseed));
+	assert(basepoints_eq(&baseline->basepoints, &info->basepoints));
+	assert(secrets_eq(&baseline->secrets, &info->secrets));
+	assert(sha256_eq(&baseline->shaseed, &info->shaseed));
+
+	info = new_info(ctx);
+	assert(derive_basepoints(&info->seed, &info->funding_pubkey,
+				 NULL,
+				 &info->secrets,
+				 &info->shaseed));
+	assert(pubkey_eq(&baseline->funding_pubkey, &info->funding_pubkey));
+	assert(secrets_eq(&baseline->secrets, &info->secrets));
+	assert(sha256_eq(&baseline->shaseed, &info->shaseed));
+
+	info = new_info(ctx);
+	assert(derive_basepoints(&info->seed, &info->funding_pubkey,
+				 &info->basepoints,
+				 NULL,
+				 &info->shaseed));
+	assert(pubkey_eq(&baseline->funding_pubkey, &info->funding_pubkey));
+	assert(basepoints_eq(&baseline->basepoints, &info->basepoints));
+	assert(sha256_eq(&baseline->shaseed, &info->shaseed));
+
+	info = new_info(ctx);
+	assert(derive_basepoints(&info->seed, &info->funding_pubkey,
+				 &info->basepoints,
+				 &info->secrets,
+				 NULL));
+	assert(pubkey_eq(&baseline->funding_pubkey, &info->funding_pubkey));
+	assert(basepoints_eq(&baseline->basepoints, &info->basepoints));
+	assert(secrets_eq(&baseline->secrets, &info->secrets));
+
+	/* derive_payment_basepoint should give same results. */
+	info = new_info(ctx);
+	assert(derive_payment_basepoint(&info->seed, &info->basepoints.payment,
+					&info->secrets.payment_basepoint_secret));
+	assert(pubkey_eq(&baseline->basepoints.payment,
+			 &info->basepoints.payment));
+	assert(secret_eq(&baseline->secrets.payment_basepoint_secret,
+			  &info->secrets.payment_basepoint_secret));
+
+	/* derive_funding_key should give same results. */
+	info = new_info(ctx);
+	assert(derive_funding_key(&info->seed, &info->funding_pubkey,
+				  &info->secrets.funding_privkey));
+	assert(pubkey_eq(&baseline->funding_pubkey, &info->funding_pubkey));
+	assert(privkey_eq(&baseline->secrets.funding_privkey,
+			  &info->secrets.funding_privkey));
+
+	/* derive_shaseed should give same results. */
+	info = new_info(ctx);
+	assert(derive_shaseed(&info->seed, &info->shaseed));
+	assert(sha256_eq(&baseline->shaseed, &info->shaseed));
+
+	tal_free(ctx);
+	wally_cleanup(0);
+	return 0;
+}