It’s impossible to pin down where exactly is the coolest place to see contemporary art in the capital because the cutting edge of the London art scene is constantly on the move. Galleries flicker into life and disappear in a weekend, internet-based groups stage “pop-up” shows, never in the same place twice. Once, the East End was the only place to go but a new generation of artists and curators have gravitated to fresh hot spots — such as Deptford, tipped as a contender for E2’s übercool crown.

Starting this weekend and running until Sunday 19 October, the Deptford X festival is celebrating its 10th year with a month-long programme of arts and events called Ghost Trade and the Spectre of Change. Curated by Julia Alvarez, the creative force behind the Bearspace gallery in Deptford High Street, it includes exhibitions, films, performances, installations and public projects.

It’s an ambitious mix: established international reputations will rub shoulders with artists on the rise, and the success of events such as the Drawing Club/Free Fly Pitch and the Totally Fairtrade Auction depend entirely on the participation of visitors. There are opportunities to draw alongside artists and a chance to test your eye by bidding for works at a “blind” auction.

Many of the events and performances will be concentrated on Saturdays during the festival, which starts with the opening of Victor Mount’s Legendary Ding Dong Twist Club Extravaganza at the Deptford Project Space, an installation that promises to take the mickey out of exclusive international art fairs. Also on Saturdays are Yinka Shonibare’s White Flag at Half Mast at St Nicholas Church on Deptford Green, You Tell Me Again I’m Not Interested by Leo Fitzmaurice at Gallop and works such as Fran Cottell’s Golden Balls and Nicky Hirst’s Story at different locations each week.

On view throughout the festival are installations and films such as Helen Barff’s Two Boats Creekside, one of many site-specific works created especially for Deptford X. The festival itself is the subject of an anniversary book by Bob and Roberta Smith.

For full programme details, visit www.deptfordx.org.uk