ApeX Protocol vs Kwenta Comparison
| 0.02% maker / 0.05% taker | Fees | 0.25% - 0.3% |
ApeX ProtocolWinner
vs
Kwenta
Pros & Cons
Pros
- No gas costs for users
- Perpetuals on equities, commodities and prediction markets too
- Around 90 crypto perpetuals, up to 100x leverage on BTC and ETH
- Operating since 2022 with no known loss of user funds
- Well-known backers
Cons
- Considerably lower volume than the market leaders
- Thinner order books in secondary markets
- No EU authorisation
- Support runs through community channels
Pros
- Access to synthetic perpetuals from the Synthetix ecosystem
- More than 40 tracked assets
- Existing trading functionality retained during the transition
- Low network fees on Optimism
Cons
- No longer a standalone project — acquired by Synthetix
- The native token is set to cease to exist
- Fees of 0.25% to 0.3% per trade, far above the segment norm
- Not a sensible candidate for a fresh start
- No EU authorisation
Score Comparison
4.4Usability3.8
4.1Features3.5
4.3Fees3.0
4.2Stability3.6
3.5Support3.2
Features
- No gas costs
- Crypto, equity and commodity perpetuals in one interface
- Operating since 2022 without a known security incident
- Up to 100x leverage on the main markets
- Acquisition by Synthetix
- Token wind-down announced
- Synthetic perpetuals on Optimism
- Trading still possible during the transition
Details
ApeX ProtocolKwenta
| ApeX Protocol (by Bybit) | Company | Synthetix (acquired Kwenta) |
| Singapore | Headquarters | Decentralised, no registered office |