| FEATURE | AEVO | BULK |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.08% | 0.035% |
| Maker Fee | 0.05% | 0% |
| Max Leverage | 20x | 40x |
| Perp Pairs | 102 | 8 |
| Spot Trading | No | No |
| KYC Required | No | No |
| Rating | 4.2 | 3.0 |
Aevo vs BULK: key differences
Opening and closing a $10,000 position with market orders costs $7.00 on BULK and $16.00 on Aevo at base-tier taker fees, a difference of $9.00 per round trip.
For limit orders, Aevo charges makers 0.05%, while BULK charges makers nothing.
BULK allows up to 40x leverage against 20x on Aevo. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Aevo lists 102 perpetual markets, BULK lists 8.
BULK is the more liquid venue, with $21M in 24-hour volume against $2M on Aevo (about 11 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC, USDT, aeUSD, ETH +2 more on Aevo and in USDC on BULK.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Aevo | BULK | |
|---|---|---|
| Taker round trip on $10,000 | $16.00 | $7.00 |
| Maker round trip on $10,000 | $10.00 | $0 |
| Best-tier taker fee | 0.064% | 0.022% |
| BTC max leverage | 20x | 40x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $2M | $21M |
| TVL | $15M | $8M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC, USDT, aeUSD, ETH +2 more | USDC |
| Deposit networks | Ethereum, Arbitrum, Base +1 more | Solana |
| Minimum order | $10 | $1 |
| Order types | 7 | 9 |
| Options | Yes | No |
| Mobile app | Yes | No |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 18 | 43 |
| Founded | 2022 | 2025 |
Choose Aevo if
- You trade smaller or newer markets: 102 perpetual pairs against 8.
- You trade options as well as perpetuals.
- You trade from a phone: Aevo has a mobile app.
- You want to post margin in more than one asset.
- You want a sign-up discount: 10% off fees through a referral link.
Choose BULK if
- You mostly use market orders: 0.035% taker fee against 0.08% on Aevo.
- You place limit orders: 0% maker fee against 0.05% on Aevo.
- You want higher leverage: up to 40x against 20x.
- You trade size and need liquidity: $21M in 24-hour volume against $2M.
Aevo
PROS
- + Options order book on BTC, ETH, SOL and HYPE next to 102 perpetual markets, all under one margin account with optional portfolio margin
- + 47 real-world asset perpetuals (US stocks, ETFs, gold, silver, oil, FX and pre-IPO names such as OpenAI) in addition to 55 crypto pairs
- + No KYC: trading starts after connecting an EVM wallet, and the exchange is non-custodial with settlement on the Aevo rollup
CONS
- − Maximum 20x leverage, and only on BTC, ETH, SOL, HYPE and ZEC; the other 97 perpetual markets are capped at 10x or 3x, far below GMX (100x) or Avantis (500x)
- − Base perpetual fees of 0.08% taker and 0.05% maker are higher than on Hyperliquid (0.045% taker), and makers pay a fee instead of getting a rebate
- − Low liquidity: about 2 million dollars of 24h perpetual volume and about 15 million dollars of TVL, which means thin order books on smaller pairs
BULK
PROS
- + Base taker fee of 0.035% and maker fee of 0% during the Genesis phase, with taker fees down to 0.022% at 4 billion dollars of 14-day volume and maker rebates of up to 0.015%
- + Portfolio margin is the default: margin is calculated on the correlation-adjusted exposure of the whole account, which the docs say can cut requirements for a hedged BTC and ETH position by 30% to 70% against isolated margin
- + Non-custodial: funds sit in a per-user account of a Solana program, withdrawals need a FROST threshold signature from the validator set, and Zellic audited the program in July 2026
CONS
- − Mainnet is invite-only since September 5, 2026: access codes are the only way in for new users, they are single-use and expire weekly, and no date for public access has been announced
- − Only 8 of 22 listed perpetual markets were open for trading on October 4, 2026, there is no spot trading, and USDC on Solana is the only collateral
- − 24-hour volume was about 21 million dollars and open interest about 9 million dollars on October 4, 2026 per the BULK API, and BTC accounted for 14.3 million dollars of that volume
Frequently Asked Questions
Is Aevo or BULK better?
Aevo has a higher rating (4.2 vs 3). BULK offers lower fees (0.035% vs 0.08%). Choose Aevo for its features, and BULK for lower fees.
What are the fees on Aevo vs BULK?
Aevo charges 0.08% taker / 0.05% maker. BULK charges 0.035% taker / 0% maker for perpetuals.
Which has higher leverage, Aevo or BULK?
Aevo offers up to 20x, and BULK offers up to 40x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Aevo and BULK require KYC?
Aevo does not require KYC. BULK does not require KYC. Both restrict some jurisdictions (Aevo lists 18; BULK lists 43), so check the terms of service for your country before depositing.
Is Aevo or BULK safer?
Aevo has been audited and runs an insurance fund, and custody is non-custodial. BULK has been audited and runs an insurance fund, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, Aevo or BULK?
Aevo recorded $2M in 24-hour volume and BULK recorded $21M, as of 2026-10-04. Aevo lists 102 perpetual markets and BULK lists 8.