| FEATURE | NADO | GRVT |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0.035% | 0.045% |
| Maker Fee | 0.01% | -0.0001% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 77 | 184 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 3.6 | 4.5 |
Nado vs GRVT: key differences
Opening and closing a $10,000 position with market orders costs $7.00 on Nado and $9.00 on GRVT at base-tier taker fees, a difference of $2.00 per round trip.
For limit orders, Nado charges makers 0.01%, while GRVT pays makers a 0.0001% rebate.
GRVT lists 184 perpetual markets, Nado lists 77.
GRVT is the more liquid venue, with $481M in 24-hour volume against $128M on Nado (about 3.8 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 USDT0, USDC, wETH, kBTC +2 more on Nado and in USDT, USDC on GRVT.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Nado | GRVT | |
|---|---|---|
| Taker round trip on $10,000 | $7.00 | $9.00 |
| Maker round trip on $10,000 | $2.00 | $0.02 rebate |
| Best-tier taker fee | 0.015% | 0.024% |
| BTC max leverage | 50x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $128M | $481M |
| TVL | $53M | $34M |
| Custody | non-custodial | non-custodial |
| Collateral | USDT0, USDC, wETH, kBTC +2 more | USDT, USDC |
| Deposit networks | Ink | Ethereum, Arbitrum, Base +4 more |
| Minimum order | $100 | $5 |
| Order types | 8 | 10 |
| Options | No | No |
| Mobile app | No | Yes |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | No | Yes |
| Restricted jurisdictions | 10 | 17 |
| Founded | 2025 | 2022 |
Choose Nado if
- You mostly use market orders: 0.035% taker fee against 0.045% on GRVT.
- You want to post margin in more than one asset.
Choose GRVT if
- You place limit orders: makers earn a 0.0001% rebate.
- You trade smaller or newer markets: 184 perpetual pairs against 77.
- You trade size and need liquidity: $481M in 24-hour volume against $128M.
- You trade from a phone: GRVT has a mobile app.
- You want a sign-up discount: 20% off fees through a referral link.
Nado
PROS
- + Base fees of 0.035% taker and 0.01% maker on perpetual and spot markets, falling to 0.015% taker and a 0.008% maker rebate at VIP 6 (1 billion dollars of 30-day volume)
- + One margin account covers perpetuals, spot, and lending: USDT0, USDC, wETH, kBTC, XAUT0, and tokenized xStocks such as SPYx and QQQx count as collateral, and deposits earn money market interest
- + 77 tradable perpetual markets in the Nado API (October 4, 2026), including US stock and ETF perpetuals such as NVDA, TSLA, SPY, and QQQ, three FX pairs, gold, silver, and WTI oil
CONS
- − The docs and the DeFiLlama listing show no published smart contract audit; the HackenProof bug bounty covers the web app only and pays 50 to 10,000 dollars per finding
- − View-only in the United States and Canada, and blocked in Panama, Belarus, Cuba, Iran, North Korea, Russia, Syria, and Ukraine under the Terms of Use dated August 26, 2026 and the Restricted Territories page
- − Deposits work only on Ink, so funds from Ethereum, Arbitrum, or an exchange must first be bridged or withdrawn to Ink, and each USDT0 withdrawal costs 1 USDT0
GRVT
PROS
- + Negative maker fees on perpetuals across all nine tiers, from -0.0001% at Level 1 to -0.003% at Level 9, so makers receive a rebate on every filled limit order
- + Self-custodial with optional KYC: users can sign up with only an email and trade without identity verification while keeping control of their funds
- + 184 perpetual markets, including 98 equity and index markets and 8 commodity markets such as gold (XAU) and crude oil, with up to 50x leverage on BTC and ETH
CONS
- − Only USDT and USDC are accepted as collateral; unified multi-collateral margin is targeted for Q4 2026 in the GRVT litepaper
- − Spot trading is limited to two pairs (GRVT/USDT and USDC/USDT), and options and dated futures are not available
- − Leverage is capped at 10x on 172 of the 184 perpetual markets; 50x applies only to BTC and ETH positions under 600,000 USD notional
Frequently Asked Questions
Is Nado or GRVT better?
GRVT has a higher rating (4.5 vs 3.6). Nado offers lower fees (0.035% vs 0.045%). Choose Nado for lower fees, and GRVT for its features.
What are the fees on Nado vs GRVT?
Nado charges 0.035% taker / 0.01% maker. GRVT charges 0.045% taker / -0.0001% maker for perpetuals.
Which has higher leverage, Nado or GRVT?
Nado offers up to 50x, and GRVT offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Nado and GRVT require KYC?
Nado does not require KYC. GRVT does not require KYC. Both restrict some jurisdictions (Nado lists 10; GRVT lists 17), so check the terms of service for your country before depositing.
Is Nado or GRVT safer?
Nado has no published audit on record here and runs an insurance fund, and custody is non-custodial. GRVT 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, Nado or GRVT?
Nado recorded $128M in 24-hour volume and GRVT recorded $481M, as of 2026-10-04. Nado lists 77 perpetual markets and GRVT lists 184.