ostium venue review

Ostium charges 0.03% to 0.1% on notional and tops out at 200x, which puts $0.30 to $1.00 of opening cost on a $100 collateral at 10x.

what Ostium is and who stands behind it

Ostium lists 7 asset classes and prices them off one commercial model: a fee on notional, which is collateral multiplied by leverage, charged on opening only, with a ceiling of 200x and a loss capped at the collateral per trade. Ostium documents 75 named instruments, and every one of those terms is stated once below with the Ostium document it came from.

Ostium is run by a foundation, with the trading software written by a separate company, with Cayman Islands, exclusive jurisdiction Cayman Islands courts as the place its terms point to and 6 named jurisdictions it says it does not serve. On licensing its terms are explicit: none stated; Terms of Use state 'OSTIUM IS NOT AN EXCHANGE, TRUST COMPANY, LICENSED BROKER, DEALER, BROKER-DEALER, INVESTMENT ADVISOR, INVESTMENT MANAGER, OR ADVISER' and that neither entity operates a derivatives exchange or offers execution or clearing. Identity checks are recorded as unconfirmed, which for a reader means the 6 exclusions are enforced by declaration rather than by document check (Ostium terms).

the Ostium ladder tops out at 200x

Ostium sets its ceiling per asset class rather than once, across 6 published groups running from 50x to 200x, so the headline 200x belongs to 3 of those 6 groups and to nothing else. Leverage set as a continuous number rather than as rungs, and the floor is 1x.

Ostium charges 0.03% to 0.1% on opening only

Ostium charges on notional, which is collateral multiplied by leverage, on opening only, at 0.03% to 0.1% (Ostium fee documentation). On a $100 collateral at 10x that is $0.30 to $1.00 to open and $0.30 to $1.00 for the round trip, and because the base is notional, the same rate at 200x costs $6.00 to $20.00.

Beyond the headline rate, Ostium documents 6 further terms that change what a round trip costs: an oracle fee per price request, in dollars recorded as 0.1; the oracle fee terms recorded as 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; a maximum early-close charge in basis points recorded as 40; the early-close terms recorded as 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; Docs fee table shows 0 bps closing for every group and market; no closing fee for manual exits, take-profit or stop-loss; 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.

what a $100 collateral costs at each rung on Ostium

Exposure is collateral multiplied by leverage, so a $100 collateral at 200x controls $20,000. The table prices every rung Ostium can be priced at, from 2x to 200x, with the round trip beside the opening cost so the figure a reader plans against is the one they pay twice where the rate is charged on both sides.

Opening 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.

what it costs to hold a position open on Ostium

Ostium publishes its carry terms: rollover fee, continuous per block. That matters against room, because at 2x on Ostium the distance to liquidation is 49.875%, and carry is deducted from the collateral that distance is measured on. 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.

the Ostium liquidation rule, written out

Ostium states the rule as a formula: Liquidation threshold (% loss of collateral) = 100% - (Leverage / MaxLeveragePair x 25%) (Ostium on liquidation). Evaluated at 10x that gives 9.875%, and at the 200x ceiling 0.375%. Ostium publishes 4 worked thresholds, the widest requiring a loss of 99.38% of the collateral and the tightest 75.00%.

7 asset classes on Ostium, 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 50 markets tracked here, none is matched to a named instrument on Ostium, because a class list plus a ceiling table does not say which ticker sits inside which group.

collateral, currency and getting money out of Ostium

Ostium takes collateral in USDC and settles in it, so the collateral on a $100 position at 10x is USDC rather than a bank balance. 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. Deposit and withdrawal mechanics beyond that currency are recorded as unconfirmed, so nothing here states how USDC reaches or leaves a Ostium account. No practice mode on Ostium is documented either way, which the registry carries as unconfirmed rather than as an absence.

whether a loss on Ostium can exceed the collateral

On Ostium the loss is capped at the collateral per trade. 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. At 200x that means a 0.375% move against the position ends it, and what happens after that point is the whole question a reader should ask of any venue (Ostium terms on loss). 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 a $100 collateral at 200x that is $20,000 of exposure resting on the collateral per trade.

what the Ostium referral gives

The Ostium referral is described by the venue as follows: 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. That description is the venue's own claim and no part of it has been confirmed here, so it is carried as a claim (Ostium referral page). It binds by link, and the figures a reader can check on Ostium remain the 0.03% to 0.1% opening rate and the 200x ceiling. 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.

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 the round trip at $0.30 to $1.00 on a $100 collateral at 10x. Look elsewhere if you want to sit at the 200x ceiling through news, because 0.375% of room is thinner than a single adverse minute on most of the 50 markets tracked here. Check the collateral per trade cap against the size you had in mind first: on Ostium a $100 collateral at 200x carries $20,000 of exposure, and the loss stops at the collateral per trade.

Open Ostium with code

Venue registry 2026-08-27b, reviewed through 2026-11-27. Every figure on this page is computed from that registry at build time.

Figures on this page were rebuilt 2026-08-27 by the MarketMoves editorial desk, from the sources named in the methodology. Nothing here is a forecast, and none of it is advice.