| FEATURE | PARADEX | BULK |
|---|---|---|
| Type | HYBRID | DEX |
| Taker Fee | 0% | 0.035% |
| Maker Fee | 0% | 0% |
| Max Leverage | 50x | 40x |
| Perp Pairs | 63 | 8 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.5 | 3.0 |
Paradex vs BULK: key differences
Opening and closing a $10,000 position with market orders costs $0 on Paradex and $7.00 on BULK at base-tier taker fees, a difference of $7.00 per round trip.
Paradex 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.
Paradex lists 63 perpetual markets, BULK lists 8.
Paradex also has spot trading; BULK is perpetuals only.
BULK is the more liquid venue, with $21M in 24-hour volume against $6M on Paradex (about 3.5 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Paradex | BULK | |
|---|---|---|
| Taker round trip on $10,000 | $0 | $7.00 |
| Maker round trip on $10,000 | $0 | $0 |
| Best-tier taker fee | 0% | 0.022% |
| BTC max leverage | 50x | 40x |
| Margin modes | cross, isolated, portfolio | cross, isolated |
| 24h volume | $6M | $21M |
| TVL | $32M | $8M |
| Custody | hybrid | non-custodial |
| Collateral | USDC | USDC |
| Deposit networks | Ethereum, Starknet, Arbitrum +19 more | Solana |
| Minimum order | $10 | $1 |
| Order types | 11 | 9 |
| Options | Yes | No |
| Mobile app | Yes | No |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | Yes | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 19 | 43 |
| Founded | 2023 | 2025 |
Choose Paradex if
- You mostly use market orders: 0% taker fee against 0.035% on BULK.
- You want higher leverage: up to 50x against 40x.
- You trade smaller or newer markets: 63 perpetual pairs against 8.
- You want spot and perpetuals in one account.
- You trade options as well as perpetuals.
- You trade from a phone: Paradex has a mobile app.
Choose BULK if
- You trade size and need liquidity: $21M in 24-hour volume against $6M.
Paradex
PROS
- + Zero trading fees for retail orders (0% maker and 0% taker) on all 63 perpetual futures markets, on dated options, and on spot
- + Private trading: positions, orders, entries, exits, and PnL are encrypted and hidden from other traders, which limits liquidation sniping and front-running
- + 63 perpetual markets beyond crypto, including GOOGL, META, MSFT, and MSTR, the US100 and US500 indices, gold, silver, copper, and crude oil, plus about 6,700 options contracts on 11 underlyings
CONS
- − USDC is the only collateral asset. Spot balances in other tokens count toward account value but cannot be used as margin for perpetuals
- − Not available to US and Canadian persons, residents of US territories, or people in Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk, and Sevastopol
- − Pro orders sent through the standard API are not free: 0.003% maker since July 3, 2026 and 0.045% taker at the base tier, with a 0.0175% floor after all discounts
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 Paradex or BULK better?
Paradex has a higher rating (4.5 vs 3). Paradex offers lower fees (0% vs 0.035%). Choose Paradex for lower fees, and BULK for its features.
What are the fees on Paradex vs BULK?
Paradex charges 0% taker / 0% maker. BULK charges 0.035% taker / 0% maker for perpetuals.
Which has higher leverage, Paradex or BULK?
Paradex offers up to 50x, and BULK offers up to 40x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Paradex and BULK require KYC?
Paradex does not require KYC. BULK does not require KYC. Both restrict some jurisdictions (Paradex lists 19; BULK lists 43), so check the terms of service for your country before depositing.
Is Paradex or BULK safer?
Paradex has been audited and runs an insurance fund, and custody is hybrid. 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, Paradex or BULK?
Paradex recorded $6M in 24-hour volume and BULK recorded $21M, as of 2026-10-04. Paradex lists 63 perpetual markets and BULK lists 8.