Veranta vs Backpack Exchange
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
| Line | Veranta | Backpack Exchange |
|---|---|---|
| 30-day volume | #P11 · $3,194.0MEdge | #P13 · Not tracked |
| Trading fees | 0.045% taker · 0.001% makerNo order book: the venue prices against its vault and rewards the side that balances open interest. Opening or closing on the lighter side costs 0.001%, on the heavier side 0.045%, charged on notional at both ends. Forex, commodities, indices and equities trade with zero commission while those markets are in growth mode, and Upside Perps skip upfront fees to take a share of profits instead. Funding and borrow are charged while the position is open. | Tier table published as an imageBackpack documents one tier table covering spot and perpetual futures, sorted by 30-day volume, with tiers recalculated every hour and the effective tier driven by whichever is highest between BP staking, volume and pre-TGE Mad Lad NFT holdings. The table itself is published as a screenshot on guide.backpack.exchange, so the numbers cannot be read in text; the USDT/USDC pair is charged 0% and does not count toward tiers. |
| New-user perk | None documented | Fee rebates on referred accountsEdge |
| Max leverage | up to 500×Edge | up to 75× |
| Perp markets | 100 | 103Edge |
| Identity check | No KYCEdge | KYC required |
| Custody | Non-custodial, gasless one-click trading from your wallet | Custodial: your balances sit on the exchange, wallet is a separate product |
| Settles on | Base (Avantis/Veranta contracts) | Backpack Exchange (centralised matching) |
| Collateral | USDC | USDC, USDT |
| Where it runs | Web | Web, iOS, Android |
| Chains | EVMBase | Solana · EVM · Bitcoin · SuiSolana, Ethereum, Arbitrum, Base, Polygon, Avalanche, Bitcoin, SuiEdge |
| Documented features | 3 of 10 | 7 of 10Edge |
| Order book | No | Yes |
| Cross margin | Not documented | Yes |
| Spot trading | No | Yes |
| Vaults / copy vaults | Yes | Not documented |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | Not documented | Yes |
| API | Yes | Yes |
| Mobile app | Not documented | Yes |
| Telegram bot | No | Not documented |
Which one should you pick?
Pick Veranta if
You want one account for FX, equities, commodities and crypto, and you are willing to trade the balancing side to pay almost nothing.
Avantis became Veranta, and the model stayed the same: an AMM-style venue where your fee depends on which side of the market you take, from 0.001% when you balance open interest to 0.045% when you add to it. Leverage reaches 500x on FX majors and 250x on blue-chip crypto through Upside Perps.
veranta.xyz
Pick Backpack Exchange if
You want a CEX-style experience with unified portfolio margin, stocks next to perps, and a referral that pays in cash.
The only centralised venue of the series, and the only one where you give up custody: accounts are KYC-verified, balances sit on the exchange and the 10% referral rebate is paid on trading fees rather than points. Backpack also lists US stocks and ETFs next to 103 perpetual markets.
backpack.exchange
