Zero-Fee Perpetuals (ZFP)

Your Success is Our Success, Literally. Pay absolutely zero opening, closing or borrowing fees. Only pay a fraction of your profits (if-any) upon closing.

A 0-1 instrument, built for high-leverage, loss-averse traders.

Avantis is introducing “zero-fee perpetuals”, DeFi’s first true “perpetual”, that enables traders to open perp positions, while only paying a fraction from their profits (if any) upon closing: this means no fixed opening and closing fee, or borrowing fee, if your gross PNL is < 0. For the first time in DeFi, only pay from your future profits.

Zero-fee perpetuals are now live in beta for BTC, SOL and ETH, with up to 250x leverage (with a minimum leverage of 75x).

Back to basics: What is a perpetual

The word “perpetual” itself is a misnomer. Your position can still be liquidated, even if price doesn’t move against you. But how?

• Orderbook (CLOBs) DEXs and CEXs charge you funding rates for taking the popular side. If you hold for too long, these fees can lead to liquidations. More often than not, crypto markets are long-biased, meaning long traders pay funding fees constantly to short traders.

• AMMs: Fully onchain perpetuals exchanges powered by LP pools (like Avantis, GMX, Gains) charge a borrowing fee. This too can eat into net profits and cause liquidations over time.

In addition, there’s two major economic issues with perps:

• Fixed fees reduce your alpha: Traders always need a certain price move to “breakeven” on costs.

• Changing liquidation prices (impacted by funding and / or borrow fees) creates inefficient risk management for high leverage trades.

• Borrow fees (or funding rates) erode your collateral over time

Pay only if you win.

Data from popular perp exchanges shows that 90%+ traders end up losing money trading perps. Yet they’re still subject to fixed fees, holding fees and slippage. Why pay ANY fees if you lose?