DeepBook: Sui spot trading, pool fees, app access and asset control

DeepBook is a shared central limit order book on Sui, where matching and settlement occur through smart contracts. It is usable through a direct branded app as well as integrations and programmable transactions. The protocol documentation’s statement that the protocol itself has no end-user interface describes the underlying software layer; it does not erase the separately operated app. V2 is deprecated, so current development and contract selection should target the appropriate V3 deployment.[5]

A public Mainnet indexer request on 20 October returned SUI/USDC fills, the latest timestamped 18:58:43 UTC. That establishes recent reported spot activity within the inspected market. It does not demonstrate execution through our own account, the availability of every pool, or an unpaused Predict deployment.[22]

There is no single exchange-wide maker/taker tariff in the inspected material. Governance sets fees and staking requirements per pool, while the current pool-query methods expose those parameters. A governance range is a permitted range, not proof of the rate currently charged by SUI/USDC or another named market. Read the pool parameters and transaction preview for the intended route.[11]

Paying in the input token costs 25% more than the corresponding DEEP fee, equivalent to a 20% discount when choosing DEEP. A hypothetical fee worth 10 units in DEEP becomes 12.50 units on the input-token basis; this illustrates the relationship, not a live quote. Eligible taker discounts additionally depend on active stake and the documented volume threshold. The DEEP amount depends on the pool’s conversion reference.[6]

Staking DEEP is pool-specific. Stake becomes active in the following epoch when the account is updated, and eligible maker activity can accrue rebates that must be claimed. Simply quoting an order is not the same as earning a rebate on executed maker volume. Staking also permits participation in the pool’s fee governance; it is not a bank deposit with a fixed interest rate.[13]

Protocol referrals allocate part of qualifying taker fees to a pool-specific referral object; maker trades do not generate those referral fees. The referrer can claim accumulated base, quote and DEEP tokens.[19]

App points have no promised cash value and can be cancelled or forfeited.[3]

The direct-swap functions distinguish base-to-quote and quote-to-base inputs and provide output-quantity calculations. A quote is a simulation against available state; a later transaction still needs the correct coins, fee provision and executable liquidity. Returned surplus is not necessarily a second executed trade. This route should not be confused with depositing to the app’s trade balance.[9]

The spot workflow shows that cancelling a resting order releases its locked amount into settled balances before withdrawal. It also warns that indexer discovery can lag or omit a manager that has not traded. Keep the manager identifier when creating it: an apparently empty discovery result is not evidence that no funded contract object exists.[12]

Closing a browser or disconnecting its wallet is not the same operation as cancelling an onchain order. Pool-query functions separately expose open orders, locked balances and account details. Review those records and the relevant cancellation result when ending a strategy. A still-funded manager can continue to exist after the interface session has ended.[11]

The linked OtterSec assessment is dated 15 April 2025 and covers commit 2c04083, with five findings including fee accounting and capability revocation. That is a bounded code review, not certification of every current deployment. Current capability documentation includes revocation; this profile does not infer universal remediation from that fact. No customer insurance limit was established.[24]

The margin extension values positions using oracle prices and compares assets with debt. Interest can worsen the risk ratio even without a market-price change. When the liquidation threshold is crossed, liquidation is permissionless and has no promised grace period. Exiting a financed position requires dealing with exposure, debt and accrued interest before withdrawing residual collateral.[16]

The app’s published exclusions include Afghanistan, Belarus, China, Cuba, Iran, North Korea, Myanmar, the Philippines, Singapore, Russia and Syria. Its US availability statement expressly excludes Predict. These are app access conditions, not a claim that every publicly accessible contract or integrated interface has identical rules.[1]

Users must be at least 18. Sanctions screening and additional product restrictions apply, and bypassing location controls is prohibited. The operator may restrict or terminate access; a no-signup wallet connection is not an exemption from eligibility checks.[3]

The privacy policy permits requests for identity, residence, source-of-funds or wallet-control information when needed for legal, security or risk purposes. Automated geofencing and wallet screening may deny a feature or request more information. A privacy deletion request cannot remove independently recorded public-chain transactions.[4]

The terms’ formal contact section still contains an email placeholder. They require good-faith discussion within 30 days of a dispute notice, permit arbitration after 60 days, specify CECAP in Panama, and impose a one-year claim period. The liability cap is $100 to the stated lawful extent. Confirm notice delivery rather than assuming a privacy email resolves that contractual gap.[3]

The public indexer is a data service maintained separately from the contracts. Its documentation permits running an independent indexer, but it supplies no universal availability guarantee. If a view looks stale, distinguish a data outage from a chain failure and from an actual order result; reporting a fault does not reverse a signed transaction.[17]

DeepBook Trading provides the interface to separately supplied protocols. No financial authorization or statutory compensation coverage was established; incorporation does not establish a trading licence.[3]

The privacy policy identifies DeepBook Trading Foundation as a private foundation formed in Panama and gives a Panama City business address. That identification concerns the branded interface and its data processing. It does not establish that the foundation is the developer, custodian or counterparty for every protocol made accessible through the app.[4]

On 20 October, the homepage displayed more than $20 billion cumulative volume, $41.2 million over 24 hours and more than 120,000 waitlist entries. These are publisher-displayed figures, not independently reconciled exchange statistics. A waitlist count measures interest in access and cannot be treated as funded accounts or active traders.[1]

The inspected public ticker marked multiple pools active while reporting zero volume for some of them. An active flag is therefore insufficient evidence of a liquid market. Pool turnover, quoted depth, order size and the execution route need separate consideration; headline network volume does not guarantee a particular token can be sold at the displayed price.[23]

Operator

DeepBook Trading Foundation (app); separately deployed protocol

Exchange model

Decentralised

Service scope

Sui spot order book, app and programmable access; Predict has a separately documented pause.

Client types

Retail clients; Professional clients

Pricing publication

Public and quoted pricing

Other names

DeepBook V3; DeepBook App

Funding scope

Sui tokens; manager funding or direct coin-input swaps.

Custody and asset handling

Wallet-controlled contract balances with distinct trade, deposit and withdrawal capabilities.

Client eligibility

App access is staged and geographically restricted; US users are excluded from Predict.

Support

App help routes; separate published privacy email; no guaranteed response clock established.

Authorisation and registration scope

No verified financial authorization or customer compensation scheme established for this profile.

Exchange metadata checked 20 Oct 2026Source 1Source 2Source 4Source 5Source 6Source 8Source 9Source 13Source 15Source 22Source 24

The metadata response contained 26 pools. Quantities above are converted using each base token’s reported decimals; price-tick conversion is a separate calculation. These are a dated public configuration snapshot, and the client should refresh the relevant pool rather than hardcoding an old tutorial’s minimum.[21]

The indexer provides fills, order updates, orders by manager and market history. Time-range query inputs use seconds while returned event timestamps use milliseconds; token amounts may be raw smallest units or already scaled depending on the route. Preserve transaction digests and fee-token identifiers when exporting. The inspected API documentation does not promise a jurisdiction-specific tax statement.[17]

The official TypeScript SDK includes separate spot/margin, Predict, account and session modules, with environment-specific deployed IDs. A read-only market request is different from constructing and signing an order. The SDK provides programming interfaces; no discretionary AI portfolio mandate was established. Operators of automated strategies remain responsible for their signing setup and the exact capabilities granted to a process.[18]