| FEATURE | ARCUS | BULK |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.0225% | 0.035% |
| Maker Fee | 0% | 0% |
| Max Leverage | 50x | 40x |
| Perp Pairs | 60 | 8 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 3.6 | 3.0 |
Arcus vs BULK: key differences
Opening and closing a $10,000 position with market orders costs $4.50 on Arcus and $7.00 on BULK at base-tier taker fees, a difference of $2.50 per round trip.
Arcus allows up to 50x leverage against 40x on BULK. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Arcus lists 60 perpetual markets, BULK lists 8.
Arcus also has spot trading; BULK is perpetuals only.
Arcus is the more liquid venue, with $238M in 24-hour volume against $21M on BULK (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 USDG on Arcus 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
| Arcus | BULK | |
|---|---|---|
| Taker round trip on $10,000 | $4.50 | $7.00 |
| Maker round trip on $10,000 | $0 | $0 |
| Best-tier taker fee | 0.0095% | 0.022% |
| BTC max leverage | 40x | 40x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $238M | $21M |
| TVL | $38M | $8M |
| Custody | non-custodial | non-custodial |
| Collateral | USDG | USDC |
| Deposit networks | Robinhood Chain, Ethereum, Arbitrum +3 more | Solana |
| Minimum order | $5 | $1 |
| Order types | 8 | 9 |
| Options | No | No |
| Mobile app | No | No |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | No |
| Insurance fund | No | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 6 | 43 |
| Founded | 2026 | 2025 |
Choose Arcus if
- You mostly use market orders: 0.0225% taker fee against 0.035% on BULK.
- You want higher leverage: up to 50x against 40x.
- You trade smaller or newer markets: 60 perpetual pairs against 8.
- You trade size and need liquidity: $238M in 24-hour volume against $21M.
- You want spot and perpetuals in one account.
Choose BULK if
- Its feature set fits your workflow better; on the measured data points it does not beat Arcus.
Arcus
PROS
- + 0% maker and 0.0225% taker fee on perpetuals at the base tier, falling to 0.0095% taker with a 0.003% maker rebate at 3 billion dollars of 30-day volume
- + 30 single-stock perpetuals plus SPY, QQQ, gold, silver, copper, and oil markets trade 24/7 next to 24 crypto perpetuals, all from one USDG balance
- + Spot trading of tokenized stocks costs 0% in fees, and Stock Tokens stay in the user's own wallet
CONS
- − Perpetuals are in beta: new users need a waitlist cohort or a single-use invite code, and the iOS and Android apps were still in pre-order on October 4, 2026
- − Not available in the United States, Canada, or the United Kingdom under the Terms of Use dated May 28, 2026
- − USDG is the only collateral asset, and 54 of the 60 online markets are capped at 20x leverage or less, with most single stocks at 5x or 10x
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 Arcus or BULK better?
Arcus has a higher rating (3.6 vs 3). Arcus offers lower fees (0.0225% vs 0.035%). Choose Arcus for lower fees, and BULK for its features.
What are the fees on Arcus vs BULK?
Arcus charges 0.0225% taker / 0% maker. BULK charges 0.035% taker / 0% maker for perpetuals.
Which has higher leverage, Arcus or BULK?
Arcus offers up to 50x (40x on BTC), and BULK offers up to 40x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Arcus and BULK require KYC?
Arcus does not require KYC. BULK does not require KYC. Both restrict some jurisdictions (Arcus lists 6; BULK lists 43), so check the terms of service for your country before depositing.
Is Arcus or BULK safer?
Arcus has been audited and has no insurance fund on record here, 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, Arcus or BULK?
Arcus recorded $238M in 24-hour volume and BULK recorded $21M, as of 2026-10-04. Arcus lists 60 perpetual markets and BULK lists 8.