Backpack Exchange
Backpack Exchange is a centralized, custodial crypto exchange offering spot, margin, lending and perpetual futures, licensed by Dubai's VARA, with an EU arm (Backpack EU) built on the MiFID II licence acquired from FTX EU. It is not a decentralized exchange.
Cost: Perpetual futures cost 0.02% maker / 0.05% taker at the base tier, falling to 0% maker / 0.018% taker at VIP5 ($100M+ 30-day volume). Spot is 0.08% / 0.10% at the base tier. A $1,000 buy-and-sell costs about $1.00 in Backpack Exchange fees.
Sign-up perk: No standard referee discount. Approved affiliates can share part of their commission with referees as a fee discount, which Backpack says is the only way new users get discounted fees beyond volume tiers.
Checked 2026-10-16 · sources below- Round trip fee
- 0.1% buy + sell, platform fee
- $1,000 buy + sell
- $1.00 before network + pool fees
- Fees paid, 30d
- — not tracked by DefiLlama
- US availability
- Partly available UK: unverified · EU: available
More on Backpack Exchange: Referral code
- Custody
- custodial
- KYC
- required
- Platforms
- web, ios, android
- Launched
- 2023-11
Best for: KYC-verified traders outside the US who want a licensed custodial venue for crypto spot and perps, including EU users via Backpack EU.
Backpack Exchange fees
| Fee | Type | Rate | Applies to | Note |
|---|---|---|---|---|
| Futures taker fee (Tier 1) | platform | 0.05% | Buy and sell | Charged on opening and closing trades that take liquidity. |
| Futures maker fee (Tier 1) | platform | 0.02% | Buy and sell | |
| Spot taker fee (Tier 1) | platform | 0.1% | Buy and sell | Spot maker 0.08%. USDT/USDC pair is 0% and does not count toward volume. |
| Funding rate | other | — | Buy and sell | Perpetual funding payments apply; rates were not recorded. |
Fee tiers
| Tier | Rate | Requirement |
|---|---|---|
| Tier 1 | 0.05% | default ($0 30D volume); futures maker 0.02% |
| Tier 2 | 0.045% | >= $100,000 30D volume; futures maker 0.019% |
| Tier 3 | 0.04% | >= $500,000; futures maker 0.018% |
| Tier 4 | 0.035% | >= $1,000,000; futures maker 0.016% |
| Tier 5 | 0.03% | >= $5,000,000; futures maker 0.013% |
| Tier 6 | 0.028% | >= $10,000,000; futures maker 0.01% |
| VIP1 | 0.026% | >= $15,000,000; futures maker 0.01% |
| VIP2 | 0.024% | >= $25,000,000; futures maker 0% |
| VIP3 | 0.022% | >= $50,000,000; futures maker 0% |
| VIP4 | 0.02% | >= $75,000,000; futures maker 0% |
| VIP5 | 0.018% | >= $100,000,000; futures maker 0% |
Perps: taker 0.05%, maker 0.02% — Tier rates are futures taker fees. Effective tier is the highest of 30D volume, BP stake, holdings or pre-TGE Mad Lad NFT, recalculated hourly.
Platform fees only. On-chain network/priority fees, pool (LP) fees and price impact are extra and vary by trade.
Is Backpack Exchange legit?
Exchange accounts are custodial and require KYC. The separate Backpack Wallet is a self-custodial wallet product.
Backers: Placeholder VC (lead) ($17,000,000), 2024-02.
Incidents on record
- 2022-11: Company lost operating funds in FTX collapse. Backpack says it lost $14.5M, 88% of the company's operating funds, when FTX collapsed. This predates the exchange's November 2023 beta launch. Source
Where Backpack Exchange is available
| Region | Status |
|---|---|
| United States | Partly available |
| United Kingdom | Unverified |
| European Union | Available |
Not served: North Korea, Iran, Cuba and the Crimea, Sevastopol, Luhansk and Donetsk regions; Canada, Japan and New Zealand are listed as not currently served. In the US, Trek Labs, Inc. lists state-by-state licence status (e.g. California DFAL, Illinois, New Jersey 'Available'; New York, Texas, Florida 'Coming Soon'); reporting describes the US launch as spot trading, and US perps availability is not documented. EU users are served by Backpack EU (Cyprus, MiFID II), which began offering perps in September 2025. The UK is not named as unsupported, but Backpack Securities (stocks/stock perps) is unavailable in the US and UK. (source)
We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.
Pros and cons
Pros
- Base perps fees are 0.02% maker / 0.05% taker, with maker fees reaching 0% from VIP2 ($25M 30-day volume).
- Holds a Dubai VARA VASP licence, and the EU arm operates under a MiFID II licence acquired with FTX EU.
- A US entity, Trek Labs, Inc., publishes FinCEN registration and state licence status.
- Spot, margin, lending and futures share one cross-margin account with auto lending.
Cons
- Custodial exchange: KYC is required and users do not hold their own keys on the exchange.
- US access is limited to listed states and the documented US launch covers spot; US perps availability is not documented.
- Referees get no standard fee discount unless they sign up through an approved affiliate who shares commission.
- Canada, Japan and New Zealand are not currently served.
Features
perpsspotspot marginlendingequity perpsunified cross-marginauto lendingmobile appAPIfiat depositsVIP programaffiliate program
Alternatives to Backpack Exchange
Lighter
Non-US, non-UK retail perps traders who want zero trading fees and can accept slower taker execution than paid accounts.
0%Round trip
Paradex
Non-US traders who place orders manually through a web UI and want zero-fee perps plus options from one margin account.
0%Round trip
Ostium
Traders who want onchain leveraged exposure to stocks, forex, commodities and indices from a self-custodied wallet, outside the US.
0.06%Round trip
Aster
Non-US, non-UK traders who want zero maker fees on order-book perps, very high leverage modes, or privacy-shielded orders.
0.08%Round trip
Where Backpack Exchange ranks
- #5 in Best perp DEXes for beginnersof 10
- #8 in Crypto trading venues available in the EUof 10
- #9 in Lowest-fee perp DEXesof 10
Backpack Exchange FAQ
Is Backpack Exchange legit?
Backpack Exchange is a custodial exchange licensed by Dubai's VARA since October 2023. Its EU arm runs on the MiFID II licence bought with FTX EU for $32.7M in January 2025, and its US entity is FinCEN-registered. It raised a $17M Series A led by Placeholder in February 2024.
What are Backpack's perpetual futures fees?
At the base tier, Backpack charges 0.02% maker and 0.05% taker on futures. Fees fall with 30-day volume to 0% maker and 0.018% taker at VIP5 ($100M+). BP stake, holdings or a Mad Lad NFT can also set your tier.
Is Backpack available in the US?
Partly. Backpack's US entity, Trek Labs, Inc., lists licences as available in states such as California, Illinois and New Jersey, with New York and Texas 'coming soon'. Reporting describes the US launch as spot trading; US perps availability is not documented.
Can EU residents trade perps on Backpack?
Yes. Backpack EU, the Cyprus entity acquired as FTX EU, began offering perpetual futures in the EU under MiFID II in September 2025, according to Decrypt.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Backpack: Trading Fees — checked 2026-10-16
- Backpack Support: Supported Regions — checked 2026-10-16
- Backpack Support: States Where We Operate (Trek Labs, Inc., Oct 2026) — checked 2026-10-16
- Backpack Support: Backpack Securities Eligibility & Access — checked 2026-10-16
- Backpack Support: Referrals — checked 2026-10-16
- Backpack Support: Affiliate Program — checked 2026-10-16
- Backpack Support: Flexible Commission Sharing — checked 2026-10-16
- Backpack Learn: A Brief History of Backpack — checked 2026-10-16
- Decrypt: Backpack Crypto Exchange to Debut in 'Many' US States (2025-09-10) — checked 2026-10-16