GRVT Review 2026
About GRVT
GRVT is a hybrid derivatives exchange that matches orders offchain in a central limit order book and settles trades onchain while users keep custody of their funds. It runs on a custom ZKsync Validium appchain that uses zero-knowledge proofs to verify trades on Ethereum L1 and keeps order data private offchain, which prevents front-running and sandwich attacks. As of October 2026 GRVT lists 184 perpetual markets: 78 crypto markets, 98 equity and index markets such as Tesla and SPY, and 8 commodity markets such as gold (XAU) and crude oil (CL). Maximum leverage is 50x on BTC and ETH and 10x on most other markets. Founded in 2022 by CEO Hong Yea and CCO Matthew Quek, GRVT raised 19 million USD in Series A funding co-led by ZKsync and Further Ventures. In December 2024 it received a Class M (Modified) Digital Asset Business License from the Bermuda Monetary Authority (BMA) and launched its mainnet. GRVT dropped mandatory KYC in August 2025, so users can sign up with only an email. The GRVT token launched on July 30, 2026 with a fixed supply of 1 billion, and spot trading on GRVT covers two pairs, GRVT/USDT and USDC/USDT. GRVT perpetual fees start at 0.045% taker and -0.0001% maker at Level 1 and fall to 0.024% taker and -0.003% maker at Level 9, which requires 1 billion USD in 30-day futures volume. Spot fees start at 0.085% taker and 0.06% maker. Since August 11, 2026 the Earn on Equity program pays 3.5% APY on USDT and USDC balances by default, with interest paid daily in USDT. Deposits are supported from Ethereum, Arbitrum, Base, BNB Smart Chain, Tron, KAIA, and Solana, with USDT and USDC as collateral and a minimum deposit of 1 USDT.
KEY FACTS
- CUSTODY
- non-custodial
- TAKER FEE
- 0.045%
- MAX LEVERAGE
- 50x
- NETWORKS
- Ethereum, Arbitrum, Base
- KYC REQUIRED
- No
- FOUNDED
- 2022
Fee Structure
| MARKET | TAKER | MAKER |
|---|---|---|
| Perpetuals | 0.045% | -0.0001% |
| Spot | 0.085% | 0.06% |
| Best Tier | 0.024% | -0.003% |
Leverage & Margin
Security
Pros & Cons
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
- + Holds a Class M Digital Asset Business License from the Bermuda Monetary Authority, granted in December 2024
- + Earn on Equity pays 3.5% APY on USDT and USDC balances by default with no cap or lockup, paid daily in USDT (4.5% with the referral bonus)
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
- − Restricted in 17 jurisdictions including the US, Canada, Singapore, Hong Kong, and Russia, and KYC is required to claim GRVT airdrop tokens and to lift the 50,000 USDT per day bridge withdrawal limit
Frequently Asked Questions
Is GRVT safe?
GRVT is non-custodial, so users keep control of their funds through smart-account wallets while trades settle onchain via zero-knowledge proofs on Ethereum L1. It holds a Bermuda Monetary Authority Class M license, has been audited by Spearbit and NCC Group, and matches orders offchain, which blocks front-running and sandwich attacks.
What are GRVT trading fees?
GRVT charges 0.045% taker and -0.0001% maker fees on perpetuals at Level 1, meaning makers earn a rebate. At Level 9, which requires 1 billion USD in 30-day futures volume, fees are 0.024% taker and -0.003% maker. Spot fees start at 0.085% taker and 0.06% maker. Tiers update daily at 8 AM UTC.
Does GRVT require KYC?
No. GRVT dropped mandatory KYC in August 2025, so users can sign up with only an email and trade self-custodially without identity verification. KYC is optional but is required to claim GRVT airdrop tokens and to raise the 50,000 USDT daily bridge withdrawal limit. Residents of 17 restricted jurisdictions, including the US and Canada, cannot use GRVT.
Is GRVT regulated?
Yes. In December 2024 GRVT received a Class M (Modified) Digital Asset Business License from the Bermuda Monetary Authority, which made it the first licensed onchain derivatives exchange. GRVT has said it is pursuing a full Class F license and engaging regulators under the EU's MiCA framework and in the Abu Dhabi Global Market.
What can I trade on GRVT?
GRVT lists 184 perpetual markets from a single account: 78 crypto markets such as BTC and ETH, 98 equity and index markets such as Tesla, Nvidia, and SPY, and 8 commodity markets including gold (XAU) and crude oil. Spot trading covers two pairs, GRVT/USDT and USDC/USDT. Options are not available.
What leverage does GRVT offer?
GRVT offers up to 50x leverage on BTC and ETH perpetuals for positions under 600,000 USD notional, with lower limits on larger positions. Eight markets, including gold, allow up to 25x, and most other markets, including stock perpetuals, are capped at 10x. Both cross-margin and isolated-margin modes are supported.
Does GRVT have a token?
Yes. The GRVT token launched on July 30, 2026 with a fixed supply of 1 billion. The community airdrop pool is 280 million GRVT, released in batches over 12 months, and KYC is required to claim. GRVT trades on the exchange's own spot market and on OKX, KuCoin, Bitget, MEXC, and Upbit. Locking GRVT unlocks membership fee tiers.
GRVT market data API (market-data.grvt.io: instruments, margin rules) · GRVT Help Center: fee model, restricted jurisdictions, Earn on Equity, membership program, litepaper (help.grvt.io) · CoinGecko derivatives API (grvt_futures) · CoinGecko GRVT token page · DeFiLlama API (TVL) · The Block Research: Grvt and the Rise of Composable Onchain Wealth (July 2026) · Bitget, KuCoin, OKX and Odaily coverage of the GRVT token launch and airdrop (July-August 2026) · Google Play and App Store listings for the GRVT app · PRNewswire / DLNews Bermuda Class M license coverage · cryptowinrate GRVT review (2026)