Ostium platform review

Ostium costs you $0.30 to $1.00 to open $100 of collateral at 10x and tops out at 200x, where the move that closes you out is 0.375%.

who stands behind Ostium

Ostium is run by a foundation, with the trading software written by a separate company and its terms point to Cayman Islands, exclusive jurisdiction Cayman Islands courts, with 6 named countries it says it will not serve, and whether it checks your identity is undocumented (Ostium terms). It claims no licence anywhere, so no regulator stands between you and a dispute.

the Ostium ceiling is 200x

Most of what you can trade on Ostium is capped well below the 200x headline. It sets a ceiling per asset class across 6 published groups running from 50x to 200x, and 200x belongs to 3 of them. You set it as any number up to the ceiling, with no floor published.

Ostium charges 0.03% to 0.1% of notional to open, and nothing to close

You pay 0.03 to 0.1 per cent of notional, which is collateral multiplied by leverage, when you open and nothing when you close (Ostium fee documentation). On $100 of collateral at 10x that is $0.30 to $1.00.

Round trip on the same position is the same as cost to open $100 at 10x on every row.

2 further charges sit on top of that rate and change what a round trip costs you: an oracle fee per price request, in dollars of $0.10; a maximum early-close charge in basis points of up to 40 basis points.

what $100 of collateral costs you at each level

Your exposure is the collateral multiplied by the leverage, so $100 at 200x controls $20,000. Breakeven is the move that just covers what you paid to open, and room is how far Ostium lets the market go against you before the position ends.

Round trip is the same as costs to open on every row. Breakeven move is left out because it needs a single rate. Fee as share of room is left out because it needs both figures.

Entry cost is 0.03% to 0.1% of notional, referral discount applied where one is published. Room is computed from the Ostium 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 pay the rollover fee for as long as you hold, continuous per block (Ostium on holding costs). It comes out of the collateral your room to liquidation is measured against, so at 2x on Ostium the 49.875% you start with narrows for as long as you stay in.

the move that closes you out on Ostium

Ostium gives the rule as a formula, Liquidation threshold (% loss of collateral) = 100% - (Leverage / MaxLeveragePair x 25%), which puts you 9.875% from liquidation at 10x and 0.375% at the 200x ceiling (Ostium on liquidation). It publishes 4 worked thresholds, the widest costing you 99.38% of the collateral and the tightest 75.00%.

At every one of the 4 leverage levels: class a pair capped at 200x.

the 7 asset classes Ostium lists, and how many instruments

Ostium lists 75 instruments across 7 classes: equities, exchange traded funds, cryptocurrency, metals, commodities, equity indices, forex (Ostium market list). Of the 45 markets simulated here, none is matched to a named instrument on Ostium, because a class list and a ceiling table do not tell you which ticker sits in which group.

getting money in and out of Ostium

Ostium 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 per trade on Ostium (Ostium terms on loss). At 200x that ceiling is reached by a 0.375% move against you, on $20,000 of exposure funded by $100.

what the Ostium referral gives you

Ostium 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 0.03% to 0.1% entry cost, the 200x ceiling and a loss capped at the collateral per trade.

The Ostium promo code page carries the eligibility and the exclusions in full.

verdict

Use Ostium if you are sizing at or below 5x, where 0.03% to 0.1% on notional keeps your entry cost on a $100 collateral at $0.30 to $1.00. Look elsewhere if you want to sit near the 200x ceiling through news, because 0.375% of room is thinner than a single bad minute on most of the 45 markets simulated here. Before you size anything, check what the collateral is against what you can lose: $100 at 200x puts $20,000 of exposure on a loss that stops at the collateral per trade.

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what Ostium says in its own words

10 terms are quoted or paraphrased from Ostium documentation rather than computed, and kept separate for that reason.

• On fees. Docs fee table shows 0 bps closing for every group and market; no closing fee for manual exits, take-profit or stop-loss.
• On fees. Ostium does not run a maker/taker schedule for traders. The docs state crypto pairs use a flat opening fee with the maker fee now equal to the taker fee, and the fees page exposes no separate maker rate: unconfirmed as a maker/taker model.
• On carry. Rate is variable and derived from the underlying carry cost, so no single number exists. Docs state Ostium's carry premium is typically 1-2 per cent annualised on top, rates update daily via Gelato keepers, and SOFR-based rates for stocks, ETFs and indices update at 00:00 UTC. Two-sided: long rollover = underlyingCarry + brokerPremium, short rollover = -underlyingCarry + brokerPremium, so one side can collect. Worked example: WTI/USD term structure -40 per cent annualised gives longs -38 per cent and shorts +42 per cent annualised, about 0.115 per cent daily, so a 1,000 USDC short accrues about $1.15/day.
• On liquidation. No separate liquidation fee is charged to the trader; on liquidation all remaining collateral is retained by the protocol as part of settlement. Gas is paid by the protocol via Gelato Functions keepers.
• On loss. The docs describe liquidation as taking remaining collateral, which bounds loss at the collateral posted to that trade. The Terms of Use nonetheless warn in capitals that a trader 'CAN LOSE UP TO THE ENTIRE AMOUNT OF THE CRYPTOASSETS INVOLVED IN ANY TRADE AND POTENTIALLY MORE THAN SUCH AMOUNT, IN THE EVENT THAT YOU ARE USING LEVERAGE.' Recorded as a documented inconsistency rather than resolved.
• On settlement. Collateral is posted in USDC and synthetic exposure settles in it. Deposit and withdrawal mechanics beyond the collateral currency are not documented on the pages read, so they are recorded as unconfirmed.
• On the referral. Ostium's own announcement describes the tier structure but publishes no bonus percentages, boost percentages or tier volume thresholds: unconfirmed. The tracking link is operator-held and resolves to app.ostium.com/trade with the referrer attached, so it lands the reader on the trading screen rather than on Ostium's referrals explainer.
• On the oracle fee. Flat $0.10 USDC per price request, charged at open, refunded on a successful full close, not refunded on partial close; oracle fees in one transaction cannot exceed 10 USDC.
• On the early-close. Applies only to profitable positions closed within 15 seconds of open. Rate = 40 x (15 - t) / 15 bps on notional, capped at realized profit; zero after 15 seconds or on a losing close.
• On the referral. Referrers earn 'Bonuses', a percentage of the scores earned by traders they refer, across five referrer tiers set by all-time referred volume. Referred users receive 'Boosts' to their own trading scores, sized by the referrer's tier. Rewards are points/score based, not a stated fee discount.

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.