| FEATURE | BULK | VELOCITY |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.035% | 0.06% |
| Maker Fee | 0% | -0.0025% |
| Max Leverage | 40x | 20x |
| Perp Pairs | 8 | 4 |
| Spot Trading | No | No |
| KYC Required | No | No |
| Rating | 3.0 | 2.5 |
BULK vs Velocity: key differences
Velocity is still in recovery after a security incident. Read the status notice in the Velocity review before depositing.
Opening and closing a $10,000 position with market orders costs $7.00 on BULK and $12.00 on Velocity at base-tier taker fees, a difference of $5.00 per round trip.
For limit orders, BULK charges makers nothing, while Velocity pays makers a 0.0025% rebate.
BULK allows up to 40x leverage against 20x on Velocity. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
BULK lists 8 perpetual markets, Velocity lists 4.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC on BULK and in USDT, SOL, wBTC, wETH on Velocity.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| BULK | Velocity | |
|---|---|---|
| Taker round trip on $10,000 | $7.00 | $12.00 |
| Maker round trip on $10,000 | $0 | $0.50 rebate |
| Best-tier taker fee | 0.022% | 0.02% |
| BTC max leverage | 40x | 20x |
| Margin modes | cross, isolated | cross-margin |
| 24h volume | $21M | — |
| TVL | $8M | $343M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDT, SOL, wBTC, wETH |
| Deposit networks | Solana | Solana |
| Minimum order | $1 | — |
| Order types | 9 | 11 |
| Options | No | No |
| Mobile app | No | Yes |
| Testnet or demo | Yes | No |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 43 | — |
| Founded | 2025 | 2021 |
Choose BULK if
- You mostly use market orders: 0.035% taker fee against 0.06% on Velocity.
- You want higher leverage: up to 40x against 20x.
- You trade smaller or newer markets: 8 perpetual pairs against 4.
Choose Velocity if
- You have read its recovery status first: users affected by the earlier incident have not been made whole.
- You place limit orders: makers earn a 0.0025% rebate.
- You trade from a phone: Velocity has a mobile app.
- You want to post margin in more than one asset.
- You want a sign-up discount: 5% off fees through a referral link.
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
Velocity
PROS
- + Trading is open again: the public beta has been available to all users since September 21, 2026, with BTC, ETH and SOL perpetuals at up to 20x leverage and HYPE at up to 10x
- + Makers receive a 0.0025% rebate on post-only orders at every volume tier, and the taker fee falls from 0.06% to 0.02% above 200 million dollars in 30-day volume
- + One cross-margin account accepts USDT, SOL, wBTC and wETH as collateral, and deposits earn lending interest while they back positions
CONS
- − About 286 million dollars was stolen on April 1, 2026 through compromised administrator keys, and verified user losses are about 295.4 million dollars
- − Affected users have recovered about 1 percent so far: each DFX recovery token redeemed for about 0.0104 USDT from a 3.11 million USDT pool in early October 2026
- − The relaunched exchange lists four perpetual markets, down from more than 40 before the exploit, and spot order book trading was removed
Frequently Asked Questions
Is BULK or Velocity better?
BULK has a higher rating (3 vs 2.5). BULK offers lower fees (0.035% vs 0.06%). Choose BULK for lower fees, and Velocity for its features.
What are the fees on BULK vs Velocity?
BULK charges 0.035% taker / 0% maker. Velocity charges 0.06% taker / -0.0025% maker for perpetuals.
Which has higher leverage, BULK or Velocity?
BULK offers up to 40x, and Velocity offers up to 20x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do BULK and Velocity require KYC?
BULK does not require KYC. Velocity does not require KYC. Both restrict some jurisdictions (BULK lists 43; Velocity publishes no list we could verify), so check the terms of service for your country before depositing.
Is BULK or Velocity safer?
BULK has been audited and runs an insurance fund, and custody is non-custodial. Velocity 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.