Aftermath Finance exchange profile

Aftermath Finance operates several Sui products whose assets and execution arrangements differ. Its perpetual exchange uses an on-chain central limit order book with isolated margin. Orders, matching and liquidation are implemented in Move contracts; pricing combines order-book information with external oracle inputs. The afLP market-making vault is a separate way to take exposure to the trading engine’s results.[1]

The spot router can split a trade among Aftermath and other Sui venues in one atomic programmable transaction. Users can restrict participating liquidity sources. Atomic settlement links the route’s components, but the result still depends on the chosen pools, minimum output and transaction conditions; a route quote is not a promise that the token can later be sold at the same price.[7]

The equity-market list follows local exchange sessions for US, Korean, Japanese, Hong Kong and Indian exposures. It separately identifies continuous index-feed exceptions, including US500, US100, KR200 and JP225. A perpetual referencing a share or index is a derivative exposure; it is not a transfer of voting rights or registered ownership of the underlying shares. The crypto trading timetable should not be applied to every equity contract.[4]

Perpetual SL/TP defaults to an index-price trigger. A triggered market instruction and a triggered limit have different execution outcomes; a limit may remain unfilled. Orders can cover a whole position, be submitted independently, or activate after a parent fill. Trigger information is encrypted and requires wallet authentication to retrieve. Editing or cancelling returns the reserved gas under the documented transaction flow.[6]

Spot limit orders reserve the input while pending and offer expiry, stop-loss and an alternative recipient. The Active and Past Limits views track their lifecycle. To regain access to unspent reserved input, use cancellation; closing a browser is not the documented release action. A quoted inverse price should be checked against the intended buy/sell direction.[9]

DCA schedules use a non-transferable order object owned by an on-chain-derived k-of-n multisignature. They can execute up to 30 seconds either side of the nominated interval and skip a slice when its price is outside the selected bounds. Outputs can be sent to another address. This is continuing execution authority under a specific custody mechanism, not simply a browser reminder.[8]

Perpetual tiers use rolling 14-day volume, assessed at each UTC day-end, with subaccounts sharing their master’s tier. The published Growth Mode maker rate is −0.005% throughout. For a hypothetical US$10,000 fill, the base taker charge is US$4.50; the maker rate gives a US$0.50 rebate. Two base-taker fills of that same notional cost US$9 before other charges.[10]

Qualifying makers can also claim fortnightly direct rebates of 0.001%, 0.002%, 0.004% or 0.008% at weighted market shares of 0.5%, 1.5%, 3% or 5%, respectively. Referral discounts are conditional on the referee’s volume. These incentives are separate from the ordinary fill-rate calculation.[10]

Third-party frontends can attach an integrator charge to both maker and taker fills. The user approves a maximum for a numeric builder identifier; the current protocol ceiling is 1%, and a builder cannot exceed the user’s approval. A maker rebate can therefore coexist with a larger frontend charge. The current guide replaces older taker-only and per-market-vault integration assumptions.[11]

Funding transfers between position holders rather than constituting an ordinary platform trading charge. The interface expresses a rate over eight hours, while normal payments are hourly at one eighth of that rate. A hypothetical constant 0.04% eight-hour rate on 20,000 USDC notional produces 1 USDC per hour on the paying side. Accumulated funding can differ in sign from the latest displayed rate, and loss allocation can also affect it.[12]

A perpetual account is a transferable Sui object. It holds unallocated collateral separately from collateral assigned to an individual market. Unallocated funds can be withdrawn; market collateral must first satisfy the free-collateral calculation before deallocation. The capped-margin calculation excludes positive unrealised PnL while retaining losses and funding, so a profitable-looking position does not make its full displayed equity withdrawable. Losing control of the account object also loses control of its positions.[18]

The standard afSUI fee is 5% of staking rewards, not 5% of the staked principal. On a hypothetical 20 SUI reward, that is 1 SUI, leaving 19 SUI before any other applicable item. Instant withdrawal instead charges the withdrawn amount using the published reserve-dependent formula, between 0.1% and 1%. An optional validator fee can apply when afSUI is minted; the documented range is zero to 0.1%, with zero as the default.[21]

The bridge interface integrates Mayan. Its selected source chain, token, destination and wallet define the transfer route. Arriving assets still need to be suitable for the intended Sui product: bridge completion does not by itself deposit or allocate collateral into a perpetual account, and it is not an instruction to pay a bank account.[40]

Pending orders affect margin before they become filled positions. The documented maximum net exposure is the larger absolute value of the current base position plus bids or minus asks. In a hypothetical market with a two-unit position, three units of bids, one unit of asks, price 100 USDC and a 10% initial requirement, the relevant exposure is five units and the requirement is 50 USDC. This prevents treating all unfilled orders as having no collateral effect.[23]

Liquidation is designed to reduce enough exposure to restore the relevant initial-margin condition. It can cancel pending orders and charge liquidation, forced-cancellation and insurance-fund fees. Bad debt first reaches the relevant market insurance mechanism and can then be socialised to the other side through funding. This is a market loss-allocation system, not a policy guaranteeing every customer’s deposited assets.[24]

The detailed ADL page permits an authorised administrator or delegate to execute deleveraging based on an off-chain ranking. It describes counterparty closure at average entry with zero realised PnL and collateral redistribution. The broader liquidation page instead refers to a bankruptcy-price close. The published price descriptions conflict; this review does not assume a guaranteed ADL execution price from either shorthand.[25][24]

DARKNAVY’s transaction analysis documents a 29 April 2026 exploit of the V1 perpetual engine. A negative integrator-fee validation defect inflated credited collateral and enabled approximately 1.14 million USDC of profitable drains. The affected legacy clearing service was paused when that analysis collected its evidence. A complete, verified customer reimbursement and recovery reconciliation was not located, so resumed trading should not be equated with proof that all historical losses were repaid.[26]

The current contract directory distinguishes V2 packages from legacy V1 deployments, including the legacy package discussed in the incident analysis. This is a substantive version boundary. Integrations and account records need the correct package generation rather than assuming that an old contract address remains the current execution target.[29]

The official announcements page records new October 2026 perpetual listings, including PRL and ORBIO on 20 October, and recent collateral and interface changes. Together with the dated activity figures above, these support current trading operation after the V1 incident. They do not establish the exact completion date or financial outcome of every individual recovery claim.[27]

The perpetual audit directory links OtterSec and Certora material. The directory was inspected, but the linked reports were not fully reviewed here; no statement is made that they certify every current deployment or settle the earlier incident’s customer claims. The specific review scope and deployed package remain necessary when relying on a report.[28]

The terms require users to be at least 18, impose sanctions and territorial restrictions, and prohibit bypassing geoblocks. They distinguish the website service from on-chain functionality. A reachable contract therefore does not establish contractual eligibility for the website, and a missing geoblock is not a legal authorisation.[30]

Aftermath supports Google- or Twitch-based zkLogin wallet creation. This creates a Sui wallet without the ordinary seed-phrase workflow; it is an account-access method, not an exemption from product or geographic rules. Funding still needs the correct Sui address and asset. A social-login identity and a trading account object are different elements of access.[32]

The zkLogin removal guide distinguishes forgetting an Aftermath-created Google/Twitch wallet from ordinary disconnection. It describes the removal as irreversible and points to Discord for questions. Before using that action, the holder needs to understand how access to any remaining assets is retained. The warning concerns wallets created through Aftermath, not every third-party wallet connected to its site.[33]

Native perpetual endpoints provide detailed order-history CSV output, collateral history and margin history. Those records allow fills, funding-related changes and collateral movements to be examined separately; a PnL figure alone is not a full cash-flow ledger. The reference also distinguishes transaction previews from builders that prepare signed execution. Export availability does not certify a particular jurisdiction’s tax treatment.[35]

The monitoring guide instructs integrations to refresh market/account snapshots and resume streaming after reconnection. It also describes cursor pagination for longer histories. A stale WebSocket connection should not be used as evidence that a position or order disappeared. On recovery, reconcile the fresh account state before submitting a duplicate instruction.[36]

Wallet auto-confirmation is supported through Aftermath zkLogin and settings in Nightly or Backpack. It reduces repeated approval prompts; the documentation says it is not a native Sui protocol feature. Its presence in one wallet therefore does not establish identical controls or persistence on every device. Removing a popup does not remove the need to understand the actions a wallet will approve.[34]

The privacy policy collects transaction, usage and device information and provides [email protected] for data requests. Its data-access rights are separate from a trading statement. Public blockchain records cannot be erased by deleting an application account or requesting removal of off-chain personal data.[31]

The Terms name AF TECH LTD., a British Virgin Islands company. They specify English-language JAMS International arbitration, seated where the operator is incorporated. No entity-specific financial permission was established.[30]

The incorporated Privacy Policy instead names Aftermath Technologies, Inc., a Delaware corporation. No verified notice reconciled these operator names or supplied a migration date. The difference is retained explicitly rather than treating the two companies as interchangeable counterparties.[31]

V2 and legacy contracts remain separately documented. The current directory also identifies GraphQL and gRPC access while marking the older public Sui JSON-RPC route as deprecated. This affects developers and historic account reconciliation: an obsolete endpoint is not evidence that a current account or trade no longer exists.[29]

Recent announcements include a PnL calendar, direct collateral deposits and trading shortcuts, as well as the new markets. These are dated product changes rather than a promise of identical functionality in every embedded frontend. The current website, protocol packages and an external integrator should be identified separately in any execution record.[27]

Operator

AF TECH LTD. in Terms; Aftermath Technologies, Inc. in Privacy Policy

Exchange model

Decentralised

Service scope

Sui order-book derivatives, routed spot trading, pools and liquid staking.

Client types

Retail clients; Institutional clients

Pricing publication

Public pricing

Other names

Aftermath; Aftermath Finance; Aftermath Perpetuals; afSUI; afLP

Pricing scope

Perpetual tiers, pool tariffs and product-specific fees; integrators can add charges.

Funding scope

Sui tokens, collateral allocation and a third-party bridge.

Custody and asset handling

Wallet and Sui account-object authority; collateral, order and vault contracts.

Client eligibility

Adults subject to legal, sanctions and website access restrictions.

Support

Documentation, Discord and API records; privacy email covers data requests.

Authorisation and registration scope

No entity-specific financial permission established.

Exchange metadata checked 20 Oct 2026Source 1Source 7Source 30Source 31

The CCXT-compatible API builds transaction bytes and a signing digest, then accepts a signed submission. It documents native USDC collateral and SUI gas requirements. Its order request supports market/limit, reduce-only, expiry and client identifiers, but does not accept the timeInForce or postOnly fields described in broader CCXT conventions. Integrators needing those functions should use the documented native surface rather than assume compatibility from the CCXT name.[37]

Reusable personal-message authentication is not an inert login token. The authentication guide uses a terms signature for protected data and certain DCA or spot-order actions; ordinary request identifiers and action inputs are not cryptographically bound by that reusable signature. Its scope differs from signing a particular transaction digest. Store and expose each credential according to the actions the relevant endpoint accepts.[38]

The MCP server supplies three reference tools: listing API tags, searching endpoints and retrieving endpoint details. It requires no API key for that documentation access and does not itself sign transactions or trade. An AI application that subsequently uses a wallet, SDK or agent capability has the authority of that separately granted credential. Documentation discovery should not be confused with permission to execute or withdraw.[39]