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ApeX Exchange

ApeX

2022

Founded 

?

HQ

Last Updated Apr 7, 2024  |  Affiliate Disclosure

  • Review

Highlights

  • ApeX is a decentralized crypto exchange for derivatives traders, allowing you to go long or short on 20+ tokens. You can get a lifetime 5% discount with our referral link.
  • It offers USDC and USDT perpetual contracts with up to 50x leverage. It also has zero gas fees, one-click trading (no wallet approvals needed), cross-chain deposits and withdrawals, and low maker/taker fees at 0.02%/0.05%.
  • ApeX was created by Bybit, a large and reputable centralized crypto exchange with over 20 million users.

What Is ApeX?

ApeX is a decentralized derivatives exchange for perpetual contracts with up to 50x leverage, allowing you to go long or short on 20+ tokens. Traders can visit ApeX Exchange, connect their crypto wallet, deposit funds into a smart contract, and instantly start trading without KYC or sign up requirements.

You can deposit USDC or USDT from networks like Ethereum, BNB Chain, Polygon, Arbitrum, Avalanche, and Optimism, allowing you fast transactions and minimal gas fees.

ApeX was created by Bybit, a very popular centralized crypto exchange with 1,000+ coins and 20+ million users. They launched ApeX in 2022 with the intention to build a fully trustless trading environment.

Key Features & Benefits

  • Built By Bybit: ApeX instantly gets some trust and credibility because it was built by Bybit, a very well-known crypto exchange for professional traders.
  • Low Fees & Good Trading Interface: ApeX offers lower fees than most centralized exchanges and Perp DEX competitors like GMX. The maker fee is 0.02% and taker fee is 0.05%. It also has zero gas fees.
  • Multi-Chain Support: ApeX lets you deposit and withdraw from 7 popular chains including Ethereum Mainnet and Layer-2 networks like Abitrum, Polygon, and more. This ensures speedy transactions with minimal gas fees.
  • Revenue-Sharing: Every trade you make on ApeX earns rewards in their native token thanks to their Trade-to-Earn incentives. There are also BANA airdrops, trading competitions, ApeX staking, and other revenue-sharing programs.
  • No Wallet Approvals: ApeX has one-click trading with zero gas fees. This means you can open and close trades almost instantly without the need for wallet approvals, making the trading experience similar to a CEX.

What Does ApeX Offer?

APEX Exchange Trading Dashboard

Since I first wrote this review, ApeX has been regularly updating the platform and adding more tokens. Right now, you'll find 22 USDC trading pairs, up to 50x leverage, trade-to-earn opportunities, rewards, and low fees. Let's go through the platform:

1. Perpetual Contracts

Users can trade USDC and USDT perpetual contracts with up to 50x leverage. There are 20+ contracts in total, including BTC, ETH, XRP, ATOM, and DOGE with plans to add more tokens. Trading feels similar to a CEX and feels familiar to Bybit, offering advanced charting tools, trailing stop-loss and take-profit limit, and more. Traders can access these features anytime, anywhere, with no gas fees and low waiting times.

2. Multi-Chain Support

ApeX supports cross-chain deposits and withdrawals, which means you can deposit using Ethereum and withdraw to Arbitrum, or any other combination. It supports Ethereum, Arbitrum, Optimism, Avalanche, BNB Chain, Polygon, and Mantle Network.

3. Trade-to-Earn & Rewards

ApeX's Trade-to-Earn (T2E) program rewards users with BANA tokens for every trade they make on the platform along with other perks. ApeX has also offered weekly competitions, retroactive airdrops, trade bounties, and other campaigns to earn more rewards.

4. APEX and BANA Tokens

ApeX Protocol is powered by two tokens: APEX and BANA. APEX is the governance token which offers users revenue sharing through the staking program, which distributes trading fees generated on the platform to staking participants. BANA is the rewards token which is distributed through the Trade-to-Earn program. BANA is created by burning a portion of the APEX supply.

5. Non-Custodial Trading

Throughout the trading process, you can own your private keys and retain full control over your assets. On-chain data availability and integrity is ensured with StarkEx and Validium.

ApeX vs GMX vs Bybit

To get an objective review, we compared ApeX versus other perp DEXs to see how it stacks up. One of ApeX's main competitors is GMX, as both platforms offer contract trading on Arbitrum. Hyperliquid is another fast growing perp DEX gaining marketshare.

Header
Apex.Exchange
GMX.io
ByBit

Token

$APEX, $BANA

$GMX, $GLP

N/A

Networks

Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Avalanche, Mantle Network

Arbitrum, Avalanche

N/A

Leverage Limit

30x

50x

100x

Trading Fee

0.02%-0.05% maker/taker

0.10%

0.10% spot, 0.01%-0.06% derivatives

Profit Sharing

No

Yes

No

Staking

Yes

Yes

Yes

Trading Pairs

20+

6

300+

Type

DEX

DEX

CEX

Cell

ApeX Fees

Fee Type

Amount

Maker Fee

0.02%

Taker Fee

0.05%

Crypto Deposits

Free

Crypto Withdrawals

$2 USDC

Fast Crypto Withdrawals

0.10% ($5 USDC minimum)

Is ApeX Protocol Safe?

As a non-custodial platform, ApeX does not hold users' funds, which means that the safety of user funds is largely dependent on the underlying security of the platform. ApeX is a decentralized exchange fully powered by smart contracts. It was developed by Bybit, a major crypto exchange with a good reputation. 

ApeX uses Arbitrum Layer 2, ZK rollup technology, and Starkware's smart contract software to ensure the security of user funds. ApeX Pro also offers privacy and anonymity to users, as most Web3 wallets do not collect personally identifying information.

To trade on ApeX Pro, users simply need to connect to a Web3 wallet, making trades on the platform as private as any other DEX. 

How To Buy $APEX

If you're interested in buying the $APEX token, you can do so over on Bybit, a centralized crypto exchange or via Uniswap, a decentralized exchange. ApeX published an official buy page on their website with links to these two platforms. Here is a step-by-step walkthrough:

What Is Crypto Twitter Saying About ApeX?

I headed to crypto Twitter to see what people are saying about ApeX. In a detailed thread, user @CoinSurveyor explained why he switched to ApeX over other Arbitrum DEXs:

  • "GMX charges 0.1% of position size when opening and closing a position, 0.2%-0.8% of collateral size in regular swap fees and they also have network execution fees. Apex charges maker-taker fees with maker fee being 0.02% and taker fee being 0.05% and there are no gas fees."
  • 1. Better fees. 2. Better liquidity. 3. Better UX (personal preference).
  • And finally lets take a quick look at ApeX compared to popular CEXs fees. As expected some of them provide slightly better fee structures but the difference is not nearly enough to justify putting my funds on a CEX.

ApeX Review

Overall, ApeX traders can go long or short on 20+ tokens, enjoy competitive fees, high liquidity, and a great user interface. In addition, you get rewarded every time you make a trade on the platform.

On the other hand, one of the main drawbacks are its limited selection of cryptocurrencies. For a wider selection of assets, you can check out Mux Protocol and our free Perp DEX comparison tool.

Pros & Cons

  • Low Fees: Zero gas fees and maker/taker fees are 0.02%/0.05%.
  • Fast: One-click trading with no wallet approvals needed (you sign your wallet at the beginning of the trading session).
  • Rewards: Earn rewards every time you trade plus opportunities to stake, earn airdrops, and more.
  • Easy to Use: User interface is modeled after Bybit. Plus, no minimum investment and no KYC or sign up requirements. 
  • Self-Custody Your Funds: ApeX is a DEX, so you can safely trade using your crypto wallet. In addition, it was developed by Bybit, a very reputable company in the crypto industry.
  • Limited Selection of Tokens: ApeX only has 20+ cryptocurrencies, which is much less than centralized exchanges.
  • Some Regions Blocked: ApeX geo-blocks certain regions based on IP-address. You can consider finding another Perp DEX or investing in a VPN like Surfshark or NordVPN.
  • Higher Leverage Available: Even though it's risky, other Perp DEXs offer 100x up to 1000x leverage! Some CEXs like Bybit offer 100x.
Apex.Exchange

Try Bybit's Decentralized Exchange (Low Fees + No KYC)

FAQ

Who Owns ApeX?

ApeX exchange is owned by Bybit, one of the largest centralized crypto exchanges. It was launched as a decentralized version of the exchange with similar leverage trading features.

Is ApeX Exchange Available In All Countries?

ApeX exchange is available in all countries except the United States. Citizens or residents of the United States are IP-blocked and prohibited from trading on ApeX exchange. You can consider finding a different Perp DEX or investing in a VPN like Surfshark or NordVPN at your own risk.

ApeX Resources

Author

Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.



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