| FEATURE | BULK | PACIFICA |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.035% | 0.04% |
| Maker Fee | 0% | 0.015% |
| Max Leverage | 40x | 50x |
| Perp Pairs | 8 | 77 |
| Spot Trading | No | Yes |
| KYC Required | No | No |
| Rating | 3.0 | 3.6 |
BULK vs Pacifica: key differences
Opening and closing a $10,000 position with market orders costs $7.00 on BULK and $8.00 on Pacifica at base-tier taker fees, a difference of $1.00 per round trip.
For limit orders, BULK charges makers nothing, while Pacifica charges makers 0.015%.
Pacifica 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.
Pacifica lists 77 perpetual markets, BULK lists 8.
Pacifica also has spot trading; BULK is perpetuals only.
Pacifica is the more liquid venue, with $297M in 24-hour volume against $21M on BULK (about 14 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 on BULK and in USDC, SOL on Pacifica.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| BULK | Pacifica | |
|---|---|---|
| Taker round trip on $10,000 | $7.00 | $8.00 |
| Maker round trip on $10,000 | $0 | $3.00 |
| Best-tier taker fee | 0.022% | 0.028% |
| BTC max leverage | 40x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $21M | $297M |
| TVL | $8M | $27M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDC, SOL |
| Deposit networks | Solana | Solana |
| Minimum order | $1 | $10 |
| Order types | 9 | 12 |
| Options | No | No |
| Mobile app | No | Yes |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | Yes | No |
| Audited | Yes | Yes |
| Restricted jurisdictions | 43 | 13 |
| Founded | 2025 | 2025 |
Choose BULK if
- You mostly use market orders: 0.035% taker fee against 0.04% on Pacifica.
- You place limit orders: 0% maker fee against 0.015% on Pacifica.
Choose Pacifica if
- You want higher leverage: up to 50x against 40x.
- You trade smaller or newer markets: 77 perpetual pairs against 8.
- You trade size and need liquidity: $297M in 24-hour volume against $21M.
- You want spot and perpetuals in one account.
- You trade from a phone: Pacifica has a mobile app.
- You want to post margin in more than one asset.
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
Pacifica
PROS
- + Base perpetual fees of 0.015% maker and 0.04% taker, falling to 0% maker above 100 million dollars and 0.028% taker above 500 million dollars of 30-day volume
- + 77 perpetual markets in the API on October 4, 2026, including FX (EURUSD, USDJPY), commodities, US stocks, and SP500, with 50x leverage on BTC, ETH, EURUSD, and USDJPY
- + Wide order type set documented: market, limit, stop market, stop limit, TWAP from 1 minute to 24 hours, scale orders of up to 100 limit orders, OCO, and trailing stop
CONS
- − Restricted in the US, Canada, the UK, China, Russia, Ukraine, Cuba, Iran, Venezuela, Syria, North Korea, and the Philippines under the Terms of Use dated June 11, 2026, and VPN use to bypass the block is prohibited
- − The docs still describe a Closed Beta: account equity for deposits is capped at 500,000 dollars and withdrawals at 500,000 dollars per 24 hours
- − The docs publish one audit report (BlockSec, April 2025) and describe no insurance fund; losses beyond the backstop liquidator are covered by auto-deleveraging of profitable traders
Frequently Asked Questions
Is BULK or Pacifica better?
Pacifica has a higher rating (3.6 vs 3). BULK offers lower fees (0.035% vs 0.04%). Choose BULK for lower fees, and Pacifica for higher leverage.
What are the fees on BULK vs Pacifica?
BULK charges 0.035% taker / 0% maker. Pacifica charges 0.04% taker / 0.015% maker for perpetuals.
Which has higher leverage, BULK or Pacifica?
BULK offers up to 40x, and Pacifica offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do BULK and Pacifica require KYC?
BULK does not require KYC. Pacifica does not require KYC. Both restrict some jurisdictions (BULK lists 43; Pacifica lists 13), so check the terms of service for your country before depositing.
Is BULK or Pacifica safer?
BULK has been audited and runs an insurance fund, and custody is non-custodial. Pacifica has been audited and has no insurance fund on record here, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, BULK or Pacifica?
BULK recorded $21M in 24-hour volume and Pacifica recorded $297M, as of 2026-10-04. BULK lists 8 perpetual markets and Pacifica lists 77.