Orderly supplies perpetuals infrastructure to independent trading interfaces. Standard markets share liquidity, while its newer Community Listed markets have separate books and builder-specific risk arrangements. Traders therefore need the selected interface’s charges and legal terms as well as the exact market’s margin, collateral and liquidation rules.[8][6][3]
Markets & services
Sections ↑Reference table01
Service responsibilities
| Item | Published terms |
|---|---|
| Orderly infrastructure | Matching, risk checks and settlement systemsSource 6Source 8Source 1 |
| Frontend builder | User interface, retail charges and offered productsSource 6Source 8Source 1 |
| Standard listing | Orderly-operated marketSource 6Source 8Source 1 |
| Community listing | Builder-operated market with independent risk arrangementsSource 6Source 8Source 1 |
Reference table02
Market boundaries
Reference table03
Execution sequence
Reference table04
Order handling
| Item | Published terms |
|---|---|
| Basic types | Market, limit, IOC and FOK are documentedSource 1Source 6 |
| Controls | Post-only and reduce-only depend on the selected order flowSource 1Source 6 |
| Management | Create, amend and cancel operations are availableSource 1Source 6 |
| Conditional orders | TP/SL and brackets use separate algorithmic-order handlingSource 1Source 6 |
Reference table05
Margin modes
| Item | Published terms |
|---|---|
| Cross | Positions share available account collateral under cross-margin rulesSource 4Source 8 |
| Isolated | A position uses assigned marginSource 4Source 8 |
| Same symbol | Cross and isolated positions can coexistSource 4Source 8 |
| Community markets | Only isolated mode is supportedSource 4Source 8 |
Fees & commercial terms
Sections ↑Reference table06
Published builder base tiers
Reference table07
Retail fee interpretation
| Item | Published terms |
|---|---|
| Builder tariff | Determines the trader’s actual rateSource 3 |
| Base charge | Included in builder economics; do not add it twiceSource 3 |
| Maker rebate | Conditional on the builder passing through an eligible negative rateSource 3 |
| Payment | Perpetual trading fees are charged in USDCSource 3 |
Reference table08
Other trading costs
| Item | Published terms |
|---|---|
| Funding | Transfer between long and short position holdersSource 10Source 11Source 9Source 5 |
| Liquidation | Separate percentage charge on liquidated notionalSource 10Source 11Source 9Source 5 |
| Collateral conversion | Asset-specific haircut may applySource 10Source 11Source 9Source 5 |
| Movement | Gas and route-dependent cross-chain costsSource 10Source 11Source 9Source 5 |
Reference table09
Funding schedule
Reference table10
Published liquidation charges
Reference table11
Cost example
Deposits, withdrawals & settlement
Sections ↑Reference table12
Current non-USDC collateral base weights
Reference table13
Collateral conversion thresholds
| Item | Published terms |
|---|---|
| General trigger | 95% LTV or the documented negative-USDC threshold of 11,000Source 9Source 4 |
| Isolated opening rule | Projected USDC borrowing above 50,000 triggers conversionSource 9Source 4 |
| Accounting | Isolated margin remains denominated in USDCSource 9Source 4 |
| Economic effect | Non-USDC collateral can be sold automatically and incur a haircutSource 9Source 4 |
Reference table14
Deposit flow
Reference table15
Withdrawal conditions
| Item | Published terms |
|---|---|
| PnL | Settle realised PnL before counting it as withdrawableSource 5 |
| Balance | Open obligations limit available withdrawalsSource 5 |
| Destination liquidity | Can require an additional cross-chain chargeSource 5 |
| Request | Signed withdrawal message and eligible receiving account are requiredSource 5 |
Reference table16
Emergency offboarding
Custody & asset handling
Sections ↑Reference table17
Asset and system control
| Item | Published terms |
|---|---|
| External wallet | Signs onboarding and movement instructionsSource 5Source 6Source 13 |
| Collateral vault | Holds assets committed to tradingSource 5Source 6Source 13 |
| Matching service | Processes orders outside the source-chain walletSource 5Source 6Source 13 |
| Protocol updates | Approved through a multisignature mechanismSource 5Source 6Source 13 |
Reference table18
Liquidation process
| Item | Published terms |
|---|---|
| Trigger | Margin ratio falls below maintenance requirementSource 11 |
| Pricing | Uses mark price rather than the last traded priceSource 11 |
| Immediate action | Orders cancelled and affected account actions frozenSource 11 |
| Transfer | Liquidators take positions at a discount; partial liquidation can restore required marginSource 11 |
Reference table19
Insurance and auto-deleveraging
| Item | Published terms |
|---|---|
| Fund role | Absorbs eligible bankrupt-account positions and debtSource 12 |
| Funding source | Receives part of applicable liquidation chargesSource 12 |
| Failure conditions | Unclaimed positions and insufficient fund margin can lead to ADLSource 12 |
| Trader exposure | Profitable, highly leveraged opposing positions can be reducedSource 12 |
Reference table20
Community-market launch controls
| Item | Published terms |
|---|---|
| Mainnet fund | Must exceed 25,000 USDC per effective marketSource 7Source 8 |
| Initial liquidity | At least 25,000 USDC on each side within 5%, continuously for 10 minutesSource 7Source 8 |
| Deterioration | Can move a market to reduce-only or delistingSource 7Source 8 |
| Shared builder fund | Markets assigned to the same fund share its available coverageSource 7Source 8 |
Reference table21
Audit and upgrade scope
| Item | Published terms |
|---|---|
| Published auditors | Halborn, Zellic and Guardian are among those namedSource 13 |
| Reports | Project links its audit repositorySource 13 |
| Governance | Multisignature approval permits protocol changesSource 13 |
| Limit | An audit history does not establish every deployed component or frontend is risk-freeSource 13 |
Client eligibility & restrictions
Sections ↑Reference table22
Published access restrictions
| Item | Published terms |
|---|---|
| US persons | Excluded under the terms’ definitionSource 2 |
| US location/IP | Access restriction is expressly statedSource 2 |
| Sanctions | Restricted persons and relevant comprehensively sanctioned jurisdictions excludedSource 2 |
| Frontend | May impose additional eligibility and verification requirementsSource 2 |
Support & contacts
Sections ↑Reference table23
Issue routing
| Item | Published terms |
|---|---|
| Trading/account issue | Contact the chosen frontend DEXSource 14Source 6Source 2 |
| Infrastructure diagnosis | Supply order/account identifiers, chain and timestampSource 14Source 6Source 2 |
| Offboarding | Official guide links the dedicated toolSource 14Source 6Source 2 |
| Support scope | Software support does not establish a compensation entitlementSource 14Source 6Source 2 |
Authorisations & registrations
Sections ↑Reference table24
Legal protection boundaries
| Item | Published terms |
|---|---|
| Named provider | Orderly Network Ltd.Source 2Source 12 |
| Financial permission | No specific licence established by the inspected documentsSource 2Source 12 |
| Insurance Fund | Trading-loss mechanism, not a statutory deposit guaranteeSource 2Source 12 |
| Independent frontend | Its own company, permissions and contract require separate assessmentSource 2Source 12 |
Operator & entity scope
Sections ↑Reference table25
Contract and builder identity
| Item | Published terms |
|---|---|
| Terms date | 1 October 2025Source 2Source 8 |
| Law | PanamaSource 2Source 8 |
| Dispute venue | Specified arbitration in Panama CitySource 2Source 8 |
| Community listing | Interface identifies the operating builder; same underlying asset may have multiple distinct marketsSource 2Source 8 |
- Operator
- Orderly Network Ltd. and independent frontend/market builders
- Exchange model
- Decentralised
- Service scope
- Omnichain perpetuals infrastructure with off-chain matching and on-chain settlement. Standard markets and builder-operated Community Listed markets have different order books and risk boundaries. Frontends choose their offered markets and services.
- Client types
- Professional clients; Institutional clients; Retail clients
- Pricing publication
- Public and quoted pricing
- Other names
- Orderly DEX Network; Orderly One; Orderly omnichain perpetuals
- Headquarters
- Incorporation jurisdiction not stated in the inspected terms; Panama law and Panama City arbitration are specified
- Covered jurisdictions
- Supported chains and frontend-specific jurisdictions; US access excluded by published terms
- Pricing scope
- Builders set end-user trading charges. Published standard perpetual base taker tiers range from 3 to 1 basis points for builders; they are not a universal retail tariff. Funding, liquidation, collateral conversion, gas and possible cross-chain withdrawal costs are separate.
- Funding scope
- Approved token/network combinations fund collateral accounts. Realised PnL must be settled before it is included in withdrawable balance; destination-chain liquidity can affect withdrawal cost.
- Custody and asset handling
- Collateral is deposited into the relevant vault and settlement system rather than remaining freely spendable in the external wallet. Multisignature governance can approve protocol changes; liquidation, oracle, chain and operational exposure remain.
- Client eligibility
- October 2025 terms exclude US persons and US-based access, plus restricted/sanctioned persons. Each frontend’s terms and local derivatives restrictions also apply.
- Support
- Start with the chosen DEX for account and trading issues. Orderly publishes developer documentation and an emergency offboarding guide linking its support route.
- Authorisation and registration scope
- The terms identify Orderly Network Ltd. as a software/infrastructure provider. No particular financial-services licence or statutory compensation scheme is established by the inspected documents.
Exchange metadata checked 27 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 6Source 7Source 8Source 9Source 10Source 11Source 12Source 13Source 14
Covered contracting entities
Orderly Network Ltd.
- Jurisdiction
- Incorporation jurisdiction not stated in the inspected terms
- Covered services
- Named provider of the platform and associated infrastructure
- Client and location scope
- US-person, location and sanctions restrictions; additional frontend requirements apply.
Additional Information
Sections ↑A low builder base fee does not establish a low customer rate, and a familiar underlying ticker does not establish shared liquidity or shared loss protection. Compare the exact market symbol and builder, the displayed customer charge, margin mode and fund assignment. Current documentation also describes Orderly Predict with a separate price-dependent fee formula; perpetual fee tiers should not be applied to that product.[3][8]
Sources & further reading
- Builder fee setting, USDC charging and market/order features Orderly Network · Accessed 27 Oct 2026
- Orderly Network Ltd. terms of service, 1 October 2025 Orderly · Accessed 27 Oct 2026
- Orderly trading fees and builder base-fee tiers Orderly · Accessed 27 Oct 2026
- Orderly cross and isolated margin Orderly · Accessed 27 Oct 2026
- Orderly deposit, withdrawal and PnL settlement workflow Orderly · Accessed 27 Oct 2026
- Orderly off-chain matching and on-chain settlement sequence Orderly · Accessed 27 Oct 2026
- Orderly Perp Anything insurance, depth and operating thresholds Orderly · Accessed 27 Oct 2026
- Orderly standard versus Community Listed markets Orderly · Accessed 27 Oct 2026
- Orderly collateral weights, caps and conversion charges Orderly · Accessed 27 Oct 2026
- Orderly funding intervals and funding-rate calculation Orderly · Accessed 27 Oct 2026
- Orderly liquidation triggers, tiers and fees Orderly · Accessed 27 Oct 2026
- Orderly Insurance Fund and auto-deleveraging Orderly · Accessed 27 Oct 2026
- Orderly audit disclosures and multisignature upgrade governance Orderly · Accessed 27 Oct 2026
- Orderly emergency offboarding workflow and support route Orderly · Accessed 27 Oct 2026
This profile reports dated public information, including exchange-published services and terms. It does not independently test or guarantee trading, custody, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.