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- Volume 24h
- $20.6K
- Open Interest
- $19.2K
Asset Categories
- Crypto
- Stocks
- ETF
Protocol Info
Last Audit
Jun 3, 2026
Supported Wallets
Okx Wallet
O
Other Sui Compatible WalletsS
Slush WalletZ
Zklogin (google Sign In)Restricted Regions
No Restrictions
Trading and orders
Markets, leverage and the controls available before you enter a position.
- Order Matching Model
- Oracle Priced Vault
- Max Leverage
- 50
- Margin Modes
- Isolated Margin
- Supported Order Types
- Market Orders, Limit Orders, Stop Orders, Partial Close, Adl
- Subaccount Support
- No
- Leverage by Asset Tier
- High-liquidity Crypto (BTC/ETH): 50x; Mid-liquidity Crypto (SOL): 30x; Sui Ecosystem Tokens (SUI/DEEP/WAL): 20x; xStock (AAPLX, GOOGLX, METAX, NVDAX, QQQX, SPYX, TSLAX): 10x
More about trading and orders
- Market Hours
- Continuous 24 7
Costs and funding
Trading charges, discounts and the cost of keeping a position open.
- Trading fee model
- Open/Close
- Maker Fee (Base)
- 0.030%
- Taker Fee (Base)
- 0.060%
- Funding Rate Interval
- 1 Hr
- Liquidation Fee / Penalty
- 1.0000%
- Funding Rate Calculation
- Dynamic
More about costs and funding
- Gas Fees — Order Management
- gas sponsored by waterx at launch for opening/closing/canceling orders (no sui required); underlying sui network gas otherwise typically below $0.01
- Fee Inclusion Notes
- impact fee: a dynamic component added to the base trading fee, sized by how much a trade worsens lp net exposure (larger adverse trades pay a higher impact fee)
Collateral and exits
What you can deposit, where funds are held and how you get them back.
- Accepted Collateral Types
- USDC, Synthetic USD
- Account Model
- Account-Based
- Withdrawal Fee
- Percentage
- Withdrawal Settlement Time Median
- Instant
- Cross-Chain Deposit Method
- Wormhole cross-chain bridge for deposits from Ethereum and Arbitrum; 1:1 conversion to unified USD balance
- Multi-Collateral Support
- Yes
Security and risk
Audits, liquidation rules and who can change the system.
- Audit Firms
- Adevar Labs; MoveBit
- Most Recent Audit Date
- Jun 3, 2026
- Oracle Provider(s)
- Pyth Network, Supra
- Liquidation Mechanism
- Full liquidation of entire position
- Insurance Fund Mechanism
- Capitalized from liquidation fee (1% of position size); covers bad debt from liquidations
- Negative Balance Protection
- Yes
More about security and risk
- Mark vs Last Price Liquidation
- Mark Price
Token and rewards
Token utility, points and referral programmes available to traders.
- Referral Program Exists
- Yes
Access and experience
Regional restrictions, wallet requirements and ways to use the venue.
- Native Chain
- Sui
- Gas Abstraction
- Fully Sponsored Gasless
- Email/Social Login
- Yes
Venue notes
The live perpetuals app is at /en/trade. WaterX is distinct from waveX. Has Native Collateral: yes — WaterX USD, a Sui Coin standard fungible token issued by the protocol itself, minted 1:1 on deposit and burned 1:1 on withdrawal, used as the unified trading/liquidity/settlement balance Variable Pair-Fee Schedule: fees vary by market/asset class, not by individual pair: crypto = 0.03% base / 0.06% max total; xstock = 0.05% base / 0.10% max total
