Apex Pro DEX feature image with logo

ApeX Pro Fees – DEX Exchange Review 2024

  • ApeX Pro Exchange is one of the best decentralized crypto perpetual exchanges launched by Bybit.
  • It uses Automated Market Makers (AMMs) functionality and supports multi-chain deposits.
  • Here, you can trade cross-margined with multi-chain support. Trade perpetual contracts to 30x leverage and instant settlement.
  • ApeX Pro offers a competitive fee structure of 0.02% maker fees and 0.05% taker fees.

ApeX Exchange: Overall Rating

In assessing ApeX Exchange, we consider various criteria such as fees, background, security, available assets/trading pairs, user experience, features, and overall performance according to the bullet list below.

  1. Fees: 5/5
  2. Background: 4/5
  3. Security: 4/5
  4. Assets/Trading Pairs: 3/5
  5. User Experience: 4/5
  6. Features: 4/5
  7. Tokenomics: 4/5

1. Apex Pro Exchange Trading Fees – Discount Code

➤There are three types of fees on ApeX Pro.

  • Trading fees
  • Funding Fees
  • Network Fees

Crypto Trading Fees

Crypto trading fees are paid as a small percentage of the total trading volume for each trade. There are several different types of crypto trading fees.

Trading fees ApeX Pro

ApeX Pro uses a maker and taker fee for trading fees. Maker fees are 0.02%, and taker fees are 0.05%. The trading fees are similar to the largest CEX perpetuals trading platforms with the lowest crypto futures trading fees.
 

Funding Fees ApeX Pro

Funding fees are an exchange fee between long and short holders every hour. This was introduced for perpetual contracts to track the spot trading market price.

Network Fees ApeX Pro

You are only paying the network fees for deposits and withdrawals. Other than that, you will have gas-free trading on ApeX Pro.

 
ApeX Pro will soon introduce a VIP tiered trading fee structure, similar to other trading platforms. 

2. ApeX Pro Exchange Background

➤ApeX Pro is a multichain decentralized crypto exchange for permissionless derivatives trading anytime.

Decentralized blocks image

A decentralized digital protocol with no central authority in control.

A decentralized exchange has no custody over your funds. Here, you must trust the code rather than the people in charge of a centralized crypto exchange.

ApeX Pro offers several unique benefits for traders, including zero gas fees, access to leverage, and minimal slippage.

In addition, there is strong security through StarkEx, a Layer 2 scalability engine from StarkWare, and it does not require to Know Your Customer (KYC) verification.

When was ApeX Pro launched?

It launched on Arbitrum in early 2022.

Can I trade on ApeX Pro with no KYC?

The exchange is no-KYC; you can connect directly with a MetaMask Wallet on the Arbitrum network.

Does ApeX Pro allow US traders?

VPN is required for depositing from a US IP address but not for trading. This is because if the IP address is in the United States and the chosen currency for deposit is not USDC, a swap is required, and a VPN is needed for the swap. However, once you’ve deposited, you can trade on ApeX without a VPN. By the end of May, the product team will have developed a tool that will ensure that VPN isn’t required for depositing either, making it even easier for traders in the States to access ApeX.

Is there an ApeX Pro Sign-up bonus or promo code?

ApeX Pro has no signup or welcome bonus. However, you will receive a 5% discount on trading fees when you signup via our referral link. Compare all the best crypto trading bonuses and trading fee discount codes.

Can I go short on ApeX Pro?

Yes.

3. Is ApeX DEX Safe? All Aspects Explored

ApeX DEX prioritizes security, leveraging the StarkWare-developed layer-2 scalability solution, StarkEx, to enhance security and facilitate faster transactions. StarkEx batches transactions, settling them off-chain or on layer-1, ensuring both security and efficiency. The post-quantum resilience of StarkEx adds an additional layer of security, making it resistant to potential breach threats posed by quantum computers.

The integration of zero-knowledge SNARKs enables transaction batching and significantly reduces gas fees. Trade management and executions are handled by audited smart contracts, ensuring a trustless and secure process. Other security measures include reliance on cold wallets for storing funds, regular audits, fund isolation during staking or vesting, and trading via wallets without directly depositing funds onto the exchange.

As of September 2023, there have been no reported security incidents concerning ApeX DEX. However, users should remain cautious and withdraw funds when in profit or done with trading to mitigate potential risks associated with smart contract vulnerabilities.

4. ApeX Pro Trading Markets

➤ApeX Pro offers a wide selection of trading markets with up to 30x leverage.

Open Market place

A traditional market.

ApeX Pro Markets

In total, ApeX Pro has 18 trading pairs, including some of the most popular cryptocurrencies: BTC, ETH, ARB, XRP, ATOM, DOGE, MATIC, OP, SOL, BNB, LTC, APT, LDO, BLUR

5. ApeX Exchange User Experience and Learning Curve

ApeX Pro offers an excellent user experience with a mobile and PC app, making it accessible to a wide user base. Users can easily access the trading interface, connect their wallets, activate permissions, and initiate trades. The trading interface is feature-rich, resembling platforms like TradingView, providing various indicators to help users identify optimal entry and exit points.

Transitioning between different sections of the app is seamless, and the user interface is intuitive, ensuring a short learning curve and a rich user experience. Transaction speeds are notably fast, thanks to StarkEx support, allowing the platform to handle a significant number of trades and orders per second. However, L2 withdrawals may incur a withdrawal fee of up to 0.1% of the total trade value.

The platform also offers multilingual support, barcode-based app logins, an informative blog, push notifications, and a user-friendly interface.

Customer Support System at ApeX Pro Exchange

ApeX Pro is decentralized and permissionless, so traditional customer support channels like phone support are not available. However, users can reach out for support via:

  • Email Support: Users can contact ApeX Pro support via email at support@apex.exchange.
  • FAQ Section: A detailed FAQ section is available to address common queries.
  • Social Media: Users can engage with the platform through social media handles on Twitter, Discord, and Telegram.

The support team typically responds within 24 hours for email and social media queries, providing necessary assistance.

6. ApeX Exchange Features

ApeX Pro offers a range of unique features and offerings, including:

1. Multi-Chain Support

ApeX supports multiple chains, allowing users to seamlessly interact with networks like Polygon, Binance Chain, and Ethereum. This multi-chain support offers benefits such as cross-chain deposits and withdrawals, enhanced interoperability, access to a broader user base, lower transaction fees, and reduced network congestion.

2. Trading Margin and Leverage

ApeX Exchange supports cross-margin perpetual contracts, allowing traders to utilize collateral across different accounts and efficiently cover margin requirements, thus preventing liquidations during asset price fluctuations. The platform offers leverage of up to 20x (or even 30x in specific cases), enabling traders to maximize their profit potential.

3. Order Book Design

ApeX employs an order book model, providing market depth, price discovery, bids, and asks. This approach minimizes slippage, offers transparency and security, and allows for specific limit orders, aligning with the preferences of traditional and novice traders.

4. Token-Powered Ecosystem

The ApeX protocol operates using two native tokens: APEX (governance token) and BANA (rewards token). These tokens introduce new use cases, economic models, flexibility in trades, and enhanced user incentivization within the ApeX ecosystem.

5. Trade-to-Earn

ApeX offers a Trade-to-Earn feature, where users earn BANA tokens for placing successful trades, extending the potential for earnings beyond basic perpetual contract trading profits.

6. Staking Support

Users can stake their APEX tokens to earn esAPEX liquidity tokens, with the staking APY dependent on trading volume. Currently, the APEX staking pools are active on Arbitrum and Ethereum.

7. Rewards and Referrals

ApeX Pro provides various rewards to users participating in events and activities. Users can also earn rewards through referrals, incentivizing them to invite friends to join the platform.

8. Smart Liquidity Pool (SLP)

ApeX DEX features a Smart Liquidity Pool (SLP) that incentivizes users to pool their USDC holdings and earn attractive APYs, contributing to increased liquidity within the platform.

9. NFT Games

ApeX Protocol hosts an ApeX NFT game, allowing users to earn APEX tokens based on their holding period. To participate, users must hold APEX Predator NFTs available on marketplaces like OpenSea.

While ApeX Pro offers an impressive array of features, it’s important to note that the platform is still in its early stages, and new features are expected to be introduced as the web3 landscape evolves.

7. ApeX Pro Crypto Tokenomics

➤ApeX Pro uses two key tokens, APEX and BANA.

APEX Token

Apex is the governance token that allows the community to involve in governance and protocol decisions.

The total supply is 1 billion Apex tokens.

  • 23% go to the core team and early investors
  • 77% is reserved for participation rewards

BANA Token

BANA is mainly used as a Trade-to-Earn reward token with weekly payouts made in BANA tokens. 

The maximum supply is 25 million APEX, specifically allocated for minting BANA. 

The BANA rewards will be distributed over a year and after users will be able to turn their BANA rewards into APEX tokens.

During the year-long Trade-to-Earn event, $190,000 worth of BANA tokens will be distributed to participants every week. That amounts to a bounty of nearly $10 million in total.

BANA’s value is maintained through a Buy & Burn Pool (BBP), whereby 50% of APEX transaction fees are used to buy back BANA tokens and burn them.

ApeX Exchange Review: Pros and Cons

Pros:

  1. Low Minimum Deposit: ApeX DEX has a minimum deposit threshold of just $1, making it accessible for a wide range of users.
  2. Leverage Options: The platform offers leverage of up to 30x for specific trading pairs, providing enhanced trading opportunities.
  3. Staking and Passive Income: ApeX offers staking options and various features to generate passive income, enhancing user engagement and rewards.
  4. Referral Program: The rewarding referral program incentivizes users to invite others to join the platform.
  5. Privacy and User-Friendly Interface: ApeX DEX prioritizes user privacy with no KYC requirements and offers a minimalist web interface with a wide range of features.
  6. Security: The platform employs robust security measures, including StarkEx support and zero-knowledge SNARKs, ensuring a secure trading environment.

Cons:

  1. Limited Trading Pairs: ApeX DEX currently offers a limited number of trading pairs, potentially limiting users’ options.
  2. Time-Bound Passive Income Generators: Some passive income generators like Trade-to-Earn are time-bound, which may limit long-term earning potential.
  3. No Live Chat Support: ApeX DEX lacks live chat support for immediate technical assistance.

Invest Responsibly

It’s crucial to exercise caution and invest responsibly when trading cryptocurrencies or interacting with decentralized applications. Users should only risk funds they can afford to lose comfortably. Strong operational security measures should be maintained while dealing with smart contracts, wallets, or cryptocurrencies.

This ApeX review serves for informational and entertainment purposes only and should not be considered as an official endorsement of the platform. Users are encouraged to conduct thorough research before making any investment decisions.

How Does ApeX Exchange Compare Against Other DEXs?

ApeX Pro stands out in the decentralized space by combining features of both CEXs and DEXs, offering an order book model akin to CEXs while maintaining a permissionless nature. Created by Bybit to reduce exposure to centralized and custodial CEXs, ApeX exchange showcases innovation in the DeFi landscape. While it has some ground to cover to catch up with platforms like dYdX or GMX, which offer higher leverage on specific trades, its minimalist interface, diverse token spread, and focus on cross-margin perpetual contracts position it

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