What it does
Paradex brings perpetual futures, perpetual options and spot into one margin system. Its documentation describes account privacy, multiple margin modes and a chain built around the exchange. The public product is broader than a simple list of crypto perpetual pairs.
The distinction worth checking is the execution lane. The retail interface advertises zero trading fees, while the Pro API lane has paid taker execution and separate incentives. Privacy also does not remove liquidation or socialized-loss risk, so read the margin and loss-allocation rules before combining positions.
Where it stands out
- Several derivative types share account and margin tools.
- Private account data limits public visibility of positions and liquidation levels.
What you can do
- 01Perpetuals, options and spot
- 02Cross, isolated and portfolio margin modes
- 03Vault products and trading APIs
Who’s behind it
Paradex says it was incubated by Paradigm, the institutional derivatives liquidity network. Its official site lists trading firms and investors supporting the project; this should not be confused with an assurance of counterparty safety.
Fees & availability
Fees and costs
Retail and Pro/API orders use different fee treatment. Funding and execution costs still matter when the interface advertises zero trading commission.
Eligibility and availability
Restricted-person rules apply. The protocol documents socialized-loss mechanisms; account privacy does not protect a leveraged position from liquidation.