Extended vs Kwenta Comparison
| 0% maker / 0.025% taker | Fees | 0.25% - 0.3% |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, including all fees and spreads.
| 0% maker / 0.025% taker | Fees | 0.25% - 0.3% |
Pros & Cons
- 0% maker fee, 0.025% taker
- Daily maker rebates based on maker share
- Very low network fees on Starknet
- Unified margin across several asset classes
- Self-custody
- Considerably smaller than the market leaders
- Around 50 trading pairs — a narrower list than competitors
- No EU authorisation
- Support runs through community channels
- 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
- 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
Features
- Fee-free on the maker side
- Team with Revolut roots
- Cross-asset collateral and unified margin
- Network costs in the cents range
- Acquisition by Synthetix
- Token wind-down announced
- Synthetic perpetuals on Optimism
- Trading still possible during the transition
The five areas head to head
AI AnalysisFees & Costs
Makers pay no trading fee, takers 0.025%. Depending on 30-day maker share, daily rebates of up to 2 basis points apply on top. Network fees on Starknet typically run to a few cents per transaction and barely register against the trading fee. As of August 2026.
Trading fees most recently ran at 0.25% to 0.3% per trade — a multiple of the 0.02% to 0.05% charged by order-book DEXs in the same comparison. Network fees on Optimism are low by contrast. Given the transfer into the Synthetix offering, terms should be checked directly before trading. As of August 2026.
Usability & User Experience
The interface is functional and aimed at users with futures experience. Access runs through a wallet connection. As of August 2026.
The interface was functional and tailored to synthetic trading. Anyone starting today should account for the transition to Synthetix and begin there rather than rely on a brand that is being retired. As of August 2026.
Features & Offering
Extended runs more than 50 perpetual pairs and adds spot and lending markets. Collateral can be deployed across asset classes and margin is unified at account level. Alongside standard order types there are TP/SL brackets that set target and stop together. As of August 2026.
Kwenta tracked more than 40 synthetic assets built on the Synthetix protocol, most recently on Optimism. Following the acquisition the interface is being folded into the Synthetix offering and the native token is set to cease to exist. No new features are to be expected for Kwenta as a standalone product. As of August 2026.
Details
| Extended Finance | Company | Synthetix (acquired Kwenta) |
| Unknown (Decentralised team) | Headquarters | Decentralised, no registered office |
Verdict
In our overall rating Extended leads with 4.4 against 2.5 for Kwenta.
For most investors Extended is therefore the better choice.
Extended was built by a team with a Revolut background and runs on Starknet mainnet. The product promise goes beyond plain perpetuals: collateral can be used across asset classes, margin is unified, and spot and lending markets round out the offering.
On price Extended leads: makers pay nothing, takers 0.025%, with daily maker rebates depending on maker share. Network fees on Starknet run to a few cents per transaction, so total costs stay low even for frequent trading.
Scale needs stating plainly: measured by capital locked, Extended is far smaller than Hyperliquid or Lighter, and the market list covers roughly 50 pairs. The platform holds no EU authorisation; perpetuals sit outside MiCA in any case, and tax reporting rests entirely with the user.
Kwenta is no longer a standalone platform. Synthetix acquired the trading front end in order to run the interface and user experience itself, and the KWENTA token is set to cease to exist as part of that. Trading remains functional for existing users during the transition, but the brand is being folded into the Synthetix offering.
Substantively, Kwenta always concerned synthetic perpetuals built on Synthetix, most recently on Optimism, covering more than 40 tracked assets. Fees of 0.25% to 0.3% per trade sat far above the order-book DEXs — a disadvantage that sharpened as cheaper competitors advanced.
There is therefore little case for starting here. Anyone wanting to trade synthetic perpetuals from this ecosystem is better served going directly through Synthetix. The venue holds no EU authorisation and tax reporting rests entirely with the user.