Backpack vs Gains Network Comparison
| 0.02% maker / 0.05% taker | Fees | 0.08% opening / 0.08% closing |
Backpack
vs
Gains NetworkWinner
Pros & Cons
Pros
- MiCA authorisation for the European entity, passported across the EU
- Perpetuals for EU clients through an entity under MiFID II supervision
- A named European supervisory counterparty
- Clean, approachable interface
- 200+ markets in the global offering
Cons
- EU clients limited to roughly 40 pairs and 10x leverage
- Fees above the fee-free competitors
- Not a pure DEX — execution runs on operator-run order-book infrastructure
- Account with identity verification required
Pros
- More than 270 pairs across crypto, forex, commodities and equities
- Forex and commodity trading without a conventional brokerage account
- Collateral in DAI, USDC or WETH
- Available on several chains
- Capital-efficient synthetic model
Cons
- Leverage up to 500x on crypto and 1000x on forex — barely manageable for retail traders
- Synthetic model with oracle dependence as a structural risk factor
- The counterparty is the protocol's liquidity vault
- No EU authorisation
Score Comparison
4.6Usability3.9
4.0Features4.4
4.2Fees3.9
4.2Stability4.0
4.0Support3.4
Features
- One of the few perpetual venues with EU authorisation
- MiCA CASP since May 2026
- Perpetuals for EU clients since September 2025
- Solana-native infrastructure
- Widest market list in this comparison
- Forex and commodities tradable on-chain
- Several chains and collateral types
- Synthetic model without custody of underlying assets
Details
BackpackGains Network
| Backpack Exchange (Coral) | Company | Gains Network |
| United Arab Emirates | Headquarters | Decentralised, no registered office |