Merkle Trade is a perpetuals exchange settled on Aptos, live since 2023 and backed by its own MKL token. It has since sunset.
Listed markets cover crypto, forex and commodities across 71 contracts, with maker and taker defined by whether a trade narrows or widens the imbalance between long and short open interest. Its terms describe identity checks as something the venue may, but is not obligated to, carry out.
Funding accrues continuously: the imbalance between long and short positions sets the speed at which the funding rate itself changes over time, and the accrued amount is booked every time a position is touched. When the rate is positive, long positions pay short positions, and the reverse holds once it turns negative.
KiloExBNB Chain
HelixInjective
GRVTGRVT L2
dYdXdYdX Chain · up to 50%
edgeXedgeX L2
SynthetixEthereum
MerkleAptos · up to 25%
Canborsa referral program · 15–30% of fees by 90-day volume · 30% for the first 30 days · partners up to 50% · referral points 10% / 3% / 1%Referral page ›Four steps, from the referral link to the first payout.
Direct share, level-2 share, payout asset and cadence on other perp DEXes.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
