Avantis platform review
Avantis costs you $0.45 to open $100 of collateral at 10x and tops out at 500x, where the move that closes you out is 0.170%.
The 0 to 0.045 per cent comes off notional, so every step up the leverage costs you more to enter and leaves you less room. Opening at 10x costs you $0.45 and leaves 8.500% of movement against you, against $22.50 at 500x with 0.170%.
Avantis calls itself a perpetuals DEX on Base, USDC collateral, described in its own docs as behaving like rolling spot CFDs and lists 6 asset classes : equities, cryptocurrency, metals, commodities, equity indices, forex. You put up collateral, pick long or short and attach leverage of up to 500x, and that collateral is what funds the position (Avantis documentation).
Open Avantiswho stands behind Avantis
Avantis is run by a foundation, with a separate company named in the privacy policy and its terms point to Cayman Islands, with 7 named countries it says it will not serve (Avantis terms). It claims no licence anywhere, so no regulator stands between you and a dispute. Nobody checks who you are before you can trade, so the 7 exclusions are a declaration you make rather than a document you hand over.
the Avantis ceiling is 500x
Most of what you can trade on Avantis is capped well below the 500x headline. It sets a ceiling per asset class across 9 published groups running from 25x to 500x, and 500x belongs to 1 of them. You set it as any number up to the ceiling, with no floor published. Avantis also cuts ceilings around scheduled events: the documented example is XAU/USD reducing from 200x to 25x ahead of US CPI and resetting 24-48 hours later.
| Class | Ceiling | Opening rate | Room at that ceiling |
|---|---|---|---|
| major currency pairs | 500x | no separate rate | 0.170% |
| large cryptocurrency pairs on the capped-upside book | 250x | no separate rate | 0.340% |
| metals | 200x | no separate rate | 0.425% |
| minor currency pairs | 100x | no separate rate | 0.850% |
| equity indices | 100x | 0% | 0.850% |
| large cryptocurrency pairs on the fixed-fee book | 50x | no separate rate | 1.700% |
| smaller cryptocurrency pairs | 40x | no separate rate | 2.125% |
| WTI and Brent crude | 25x | no separate rate | 3.400% |
| United States equities | 25x | no separate rate | 3.400% |
Avantis charges 0% to 0.045% of notional on the way in and again on the way out
You pay 0 to 0.045 per cent of notional, which is collateral multiplied by leverage, when you open and the same again when you close (Avantis fee documentation). On $100 of collateral at 10x that is $0.45, and $0.90 if you open and close. Get filled as a maker and you pay 0.001% against 0.045% as a taker, which takes the same 10x entry down to $0.01.
| Class | Opening rate | Cost to open $100 at 10x | Round trip on the same position |
|---|---|---|---|
| commodities | 0% | $0.00 | $0.00 |
| equities | 0% | $0.00 | $0.00 |
| currency pairs | 0% | $0.00 | $0.00 |
| equity indices | 0% | $0.00 | $0.00 |
| cryptocurrency | 0.045% | $0.45 | $0.90 |
what $100 of collateral costs you at each level
Your exposure is the collateral multiplied by the leverage, so $100 at 500x controls $50,000. Breakeven is the move that just covers what you paid to open, and room is how far Avantis lets the market go against you before the position ends.
| Multiplier | Exposure on $100 | Costs to open | Round trip | Room to liquidation | Fee as share of room |
|---|---|---|---|---|---|
| 2x | $200 | $0.09 | $0.18 | 42.500% | 0.11% |
| 3x | $300 | $0.14 | $0.27 | 28.333% | 0.16% |
| 5x | $500 | $0.23 | $0.45 | 17.000% | 0.26% |
| 10x | $1,000 | $0.45 | $0.90 | 8.500% | 0.53% |
| 20x | $2,000 | $0.90 | $1.80 | 4.250% | 1.06% |
| 25x | $2,500 | $1.12 | $2.25 | 3.400% | 1.32% |
| 40x | $4,000 | $1.80 | $3.60 | 2.125% | 2.12% |
| 50x | $5,000 | $2.25 | $4.50 | 1.700% | 2.65% |
| 100x | $10,000 | $4.50 | $9.00 | 0.850% | 5.29% |
| 200x | $20,000 | $9.00 | $18.00 | 0.425% | 10.6% |
| 500x | $50,000 | $22.50 | $45.00 | 0.170% | 26.5% |
At every one of the 11 leverage levels: breakeven move 0.0450%.
Entry cost is 0% to 0.045% of notional, referral discount applied where one is published. Room is computed from the Avantis maintenance rule. Where a rate varies by asset class both ends of the schedule are shown. Holding costs are excluded, so every figure is a floor.
what it costs you to hold a position open
You cannot work out what it costs you to hold a position open on Avantis overnight. It takes the net rate every hour and publishes no rate for it, so stay in for a day and you have paid something no figure here can tell you. Every Avantis cost quoted below is a floor for that reason, correct as you open and wrong by an unknown amount by the time you leave.
the move that closes you out on Avantis
Avantis gives the rule as a formula, Collateral Health Ratio = (Net Collateral + PnL + accumulated net funding - closing fee) / Net Collateral, where Net Collateral = Original Collateral - Opening Fee; liquidation triggers when the ratio falls to 85% or lower, which puts you 8.500% from liquidation at 10x and 0.170% at the 500x ceiling (Avantis on liquidation).
| Multiplier | Initial margin | Room to liquidation |
|---|---|---|
| 2x | 50.000% | 42.500% |
| 3x | 33.333% | 28.333% |
| 5x | 20.000% | 17.000% |
| 10x | 10.000% | 8.500% |
| 20x | 5.000% | 4.250% |
| 25x | 4.000% | 3.400% |
| 40x | 2.500% | 2.125% |
| 50x | 2.000% | 1.700% |
| 100x | 1.000% | 0.850% |
| 200x | 0.500% | 0.425% |
| 500x | 0.200% | 0.170% |
At every one of the 11 leverage levels: maintenance requirement not published.
the 6 asset classes Avantis lists, and how many instruments
Avantis names 6 asset classes (equities, cryptocurrency, metals, commodities, equity indices, forex) and never says how many instruments that comes to, so you cannot count what is tradeable before you open an account. You can see the class it lists, so check the app for your ticker before you plan a position on anything specific.
getting money in and out of Avantis
Avantis takes collateral in USDC and settles in it, so the collateral behind a $100 position at 10x is USDC and not a bank balance. How USDC reaches or leaves an account is undocumented, and whether it runs a practice mode is undocumented.
whether a loss can exceed the collateral
You cannot lose more than the collateral on Avantis (Avantis terms on loss). At 500x that ceiling is reached by a 0.170% move against you, on $50,000 of exposure funded by $100.
what the Avantis referral gives you
Avantis never states what its referral gives you, so no figure is attached to it here. It binds by link with a link, and what you can check either way is the 0% to 0.045% entry cost, the 500x ceiling and a loss capped at the collateral.
The Avantis promo code page carries the eligibility and the exclusions in full.
verdict
Use Avantis if you are sizing at or below 5x, where 0% to 0.045% on notional keeps your entry cost on a $100 collateral at $0.45. Look elsewhere if you need to hold for days, because nothing Avantis publishes lets you price that. Before you size anything, check what the collateral is against what you can lose: $100 at 500x puts $50,000 of exposure on a loss that stops at the collateral.
20x is the ceiling, and it is not a safe one. At 20x a 4.250% move against you ends the position; at 500x it takes 0.170%.
what Avantis says in its own words
13 terms are quoted or paraphrased from Avantis documentation rather than computed, and kept separate for that reason.
- On fees. Maker is the side that joins the lighter side of open interest and pays 0.001 per cent on open and close; taker adds to the heavier side and pays 0.045 per cent on open and close. Crypto is also stated as 4.5 bps taker and 1 bps maker.
- On fees. Forex, commodities, indices and equities are documented as zero commission 'in growth mode', with spread and funding still applying. The fee-schedule page also carries a line stating zero commission for crypto while in growth mode alongside the 4.5 bps taker / 1 bps maker figures, so the crypto rate should be re-checked against the app before publishing.
- On fees. 'Spread is applied - based on notional volume and the asset liquidity across exchanges.' No numeric spread is published: unconfirmed.
- On carry. No numeric funding or borrow rate is published. Only qualifier given: on FX majors and RWAs 'holding costs run below 3 per cent a year'. Funding flows from the heavier side to the lighter side and can be earned; borrow is the cost of the leverage itself and is always paid.
- On liquidation. Also stated as 'Positions liquidate at 85 per cent loss'. The two phrasings on Avantis's own pages describe the same 85 per cent parameter differently (health ratio at or below 85 per cent versus 85 per cent loss); recorded as published.
- On liquidation. No liquidation fee is published: unconfirmed.
- On loss. 'You can never lose more than your collateral. Positions liquidate at 85 per cent loss, before a loss can outgrow what you posted. There are no margin calls and no negative balances.'.
- On markets. Overview says 'one collateral for all 100+ markets'; no exact count published.
- On markets. Equities trade 24/5. ETFs are not listed as a class; US500 and US100 are Avantis index market identifiers, not index-provider products.
- On settlement. One USDC collateral balance backs every market, and log-in is by email, a social account or SMS with no identity check documented.
- On the referral. The docs headline the referrals page as 'Earn rewards and get fee discounts' but publish no discount percentage for the referred trader: unconfirmed. A separate documented discount route is AVNT staking fee discounts.
- On identity checks. No KYC to trade; log in with email, Google, X or SMS.
- On the referral. 5 per cent referral rebate. Permissionless system: anyone can be a referrer, a self-chosen referral code is bound to the referrer's wallet address via 'create referral link', and total plus claimable earnings are shown at avantisfi.com/referral.
Platform registry 2026-08-28a, reviewed through 2026-11-28. Every figure below is computed from each platform's own published terms.
Figures on this page were rebuilt 2026-08-28 by the MarketMoves editorial desk, from the sources named in the methodology. Nothing here is a forecast, and none of it is advice.