Venues / Perp DEX

Perp DEXSelf-custody Reya Network beta

Reya Network

As of Oct 29, 2026, Reya is a perp DEX on Reya Network costing 0.06% per round trip ($0.60 on a $1,000 buy and sell), 0.054% with code U0GP283SX (10% off fees). Not available in the US.

Checked 2026-10-29 · sources below
Open Reya — 10% off fees

Reya is a perpetual futures exchange on its own Ethereum rollup, Reya Network, running a central limit order book for about 30 crypto, US stock and index perps that trade 24/7, with gold, silver and oil listed to open. Its order book went live on mainnet on September 28, 2026, and new users currently join through a waitlist.

Cost: Perps pay a 0.03% taker fee at the base tier, falling to 0.02% with 30-day volume, and 0% maker. Maker rebates of up to 0.01% are planned but not live. Fees are charged per fill in rUSD (wrapped USDC). A $1,000 buy-and-sell costs about $0.60 in Reya fees.

More on Reya Network: Overview · Referral code · Fees · Is it legit? · News · Alternatives · US alternatives

Reya code
U0GP283SX

You get: 10% discount on trading fees.

Round trip fee
0.06%
buy + sell, platform fee
$1,000 buy + sell
$0.60
$0.54 with sign-up discount
Fees paid, 30d
—
not tracked by DefiLlama
US availability
Not available
UK: unverified · EU: unverified

Quick answers

Custody
Self-custody
KYC
none
Platforms
web
Launched
—

Best for: Traders outside the US who want low taker fees on an on-chain order book for crypto and 24/7 US stock and index perps.

Reya fees

FeeTypeRateApplies toNote
Taker fee (perps) platform 0.03% Buy and sell Tier 0 (Standard, under $1M 30-day volume). Charged per fill in rUSD.
Maker fee (perps) platform 0% Buy and sell Zero today. Reya plans maker rebates of 0 to 1 bp, based on share of 30-day maker volume, in a later phase.

Fee tiers

TierRateRequirement
Standard0.03%30-day volume < $1M (taker)
Bronze0.028%30-day volume $1M-$10M (taker)
Silver0.026%30-day volume $10M-$50M (taker)
Gold0.024%30-day volume $50M-$250M (taker)
Platinum0.022%30-day volume $250M-$1B (taker)
Diamond0.021%30-day volume $1B-$5B (taker)
Obsidian0.02%30-day volume $5B+ (taker)

Perps: taker 0.03%, maker 0% — Tier 0 rates. Referred traders, Reya OG wallets and VLTZ holders each get a 10% taker-fee discount (live on-chain fee parameters, 2026-10-29). Funding is recalculated every 5 seconds, accrues continuously into PnL and is capped at ±3% per day on mainnet.

Platform fees only. On-chain network/priority fees, pool (LP) fees and price impact are extra and vary by trade.

Full Reya fee breakdown →

Is Reya legit?

Orders are matched off-chain and every trade is validated and settled on-chain on Reya Network; collateral is held by Reya's smart contracts, not by an operator. Reya Network currently runs on a forked, customised Arbitrum Orbit stack and is moving in stages to a based zk rollup on Ethereum.

Backers: Framework, Coinbase Ventures, Wintermute Ventures, Selini Capital, Amber Group, Brevan Howard Digital Assets and Leadblock Ventures, plus angels including Stani of Aave/Lens, David and Ryan of Bankless, and Kain of Synthetix/Infinex ($12,000,000).

We found no reported hacks or fund losses in the sources we checked. That is not a guarantee.

The full "is Reya legit?" check →

Where Reya is available

RegionStatus
United StatesNot available
United KingdomUnverified
European UnionUnverified

Reya Labs' Terms & Conditions (last updated 4 April 2024) say the Services 'were not developed for, and are not available to persons or entities who reside in, are located in, are incorporated in, or have a registered office or principal place of business in the United States of America', and bar use 'from a jurisdiction (including an IP address in a jurisdiction)' Reya prohibits, 'including the United States of America'. They also list restricted jurisdictions including Algeria, Bangladesh, Bolivia, Belarus, Crimea, Cuba, Donetsk, DR Congo, Egypt, Iran, Iraq, Ivory Coast, Liberia, Libya, Luhansk, Mali, Morocco, Myanmar, Nepal, North Korea, Oman, Qatar, Somalia, Sudan, Syria, Tunisia, Venezuela, Yemen and Zimbabwe, and prohibit VPNs used to get around the geofence. The UK and EU are not named; Reya does not state they are supported. (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

  • Taker fees start at 0.03% and fall to 0.02% with 30-day volume, and maker orders pay 0%.
  • US stock and index perps such as AAPL, NVDA, TSLA, SPY and QQQ trade 24/7, including weekends.
  • Collateral sits in Reya's smart contracts and every trade settles on-chain on Reya Network.
  • All positions share one margin balance that counts unrealised PnL, so profits on one position can back the others.
  • A referral code takes 10% off trading fees.

Cons

  • US persons are barred by the Terms & Conditions, which also prohibit using a VPN to get around the geofence.
  • The v2 app admits new wallets from a waitlist, and the order book only went live on mainnet on September 28, 2026.
  • Maximum leverage is 40x on BTC and BNB, 25x on ETH, SOL, SPY and QQQ, and 5x to 15x on single stocks.
  • Maker rebates are planned but not live yet.

Features

perpscrypto perpsstock perpsindex perpscommodity perpsorder book24/7 tradingportfolio margincross-collateralAPI/SDKpointsLP vault

Reya code

Reya code
U0GP283SX

You get: 10% discount on trading fees.

Open Reya

Alternatives to Reya

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

trade.xyz

Traders outside the US, UK and Canada who want leveraged, round-the-clock exposure to stocks, indices, commodities, FX and pre-IPO companies from a self-custodied Hyperliquid account.

0.018%Round trip

Extended

Traders outside the US, UK and Canada who want low taker fees on crypto plus stock, FX, commodity and index perps from one USDC margin account in their own wallet.

0.05%Round trip

All Reya alternatives compared →

Head to head

Reya market share

Where Reya ranks

Reya in the news

All Reya news →

Reya FAQ

Is Reya legit?

Reya is a live perps exchange from Reya Labs, backed by $12M from investors including Framework, Coinbase Ventures and Wintermute Ventures. DefiLlama has tracked Reya Perps since August 2024. Its v2 order book launched on mainnet on September 28, 2026 and admits new wallets from a waitlist. We found no reported exploit.

What are Reya's trading fees?

Perps pay a 0.03% taker fee at the base tier, falling to 0.02% above $5B in 30-day volume, and 0% maker. A $10,000 trade opened and closed as a taker costs $6 in fees at the base tier. Maker rebates are planned but not live.

Can US users trade on Reya?

No. Reya Labs' Terms & Conditions say the Services are not available to persons or entities residing or located in the United States, bar use from a US IP address, and prohibit using a VPN to get around the restriction.

What is the maximum leverage on Reya?

It depends on the market. Reya's market definitions show 40x on BTC and BNB, 25x on ETH, SOL, SPY and QQQ, 15x to 20x on most other crypto, and 5x to 15x on single stocks.

What chain is Reya on, and what collateral does it use?

Reya runs on Reya Network, its own rollup, currently a customised Arbitrum Orbit stack moving in stages to a based zk rollup on Ethereum. Balances and fees are in rUSD, a 1:1 wrapped USDC, and the margin system can also accept other tokens with haircuts.