Is Velocity Exchange custodial? Who holds your funds?
No. Velocity is listed as non-custodial: your funds stay in a wallet you control, not with the venue.
Checked 2026-10-17 · 3 sources- Velocity runs as a single Solana program where each subaccount holds one pool of collateral. Its docs do not spell out who controls the funds; the April 2026 Drift exploit came through attacker access to project multisig wallets.
- Non-custodial does not mean risk-free. Smart-contract bugs, phishing and malicious approvals can still lose funds.
- We list 2 reported incidents for Velocity on its legit check.
Sources: Velocity Docs: Trading fees · Velocity Docs: Referrals · Velocity Docs: Introduction. The venue's own page wins if it disagrees with ours.
Velocity
Perp DEX · 0.12% round trip. Velocity is a Solana perpetual futures exchange and money market, rebuilt by the former Drift team as a fork of Drift v2 after the April 2026 exploit. It charges 0.06% taker at the base tier and pays makers a small rebate.
Full Velocity sheet: fees, custody, incidents →