{ "schemaVersion": 1, "id": "apex-omni-vs-evedex-vs-sai", "version": "1.0.0", "name": "ApeX Omni vs EVEDEX vs SAI", "reviewedAt": "2026-10-14", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "documentation_comparison", "liveTested": false, "summary": "Compare funding paths, fee bases and exit conditions across three different perpetual systems. Gasless trading, signed fee caps and rewards are not interchangeable cost measures.", "scope": "3 pinned documentation briefs compared by decision condition. Not a live execution test, security audit, exhaustive product inventory or individual eligibility assessment.", "comparisonContext": "ApeX Omni account transfers, EVEDEX USDT settlement and SAI collateral on Nibiru EVM describe distinct systems. This is a comparison of documented decision conditions, not a common-network test or an equal-depth product inventory.", "comparisonParticipants": [ "apex-omni", "evedex", "sai" ], "sources": [], "networks": [ { "id": "perpetuals", "name": "Perpetual trading across distinct product scopes", "collaterals": [], "collateralNote": "Market, account and route dependent. No universal collateral equivalence or shared deployment is asserted." } ], "illustration": null, "rows": [ { "id": "funding", "label": "Funding and collateral", "meaning": "Confirm the destination chain, account and usable margin. Funding a wallet does not necessarily fund the trading account or preserve the deposited asset.", "apex-omni": "The API guide separates the Omni funding account from the Perps account and describes a transfer between them.", "apex-omniSources": [ "api" ], "evedex": "The supported-currencies guide states that trades settle in USDT and that order-size and margin requirements vary by instrument.", "evedexSources": [ "markets" ], "sai": "The About guide describes USDC and stNIBI collateral and bridge routes to Nibiru EVM.", "saiSources": [ "about" ] }, { "id": "fees", "label": "What a fee statement means", "meaning": "A signed fee ceiling, maker/taker commission and gasless execution describe different things. Include trading, holding and exit costs before comparing totals.", "apex-omni": "The FAQ defines Limit Fee as the maximum trading fee accepted in the signed request. It is an authorization bound.", "apex-omniSources": [ "faq" ], "evedex": "The fee guide distinguishes liquidity-adding maker orders from liquidity-taking orders and charges on execution rather than mere order placement.", "evedexSources": [ "fees" ], "sai": "The fee guide distinguishes Nibiru gas from trading fees, automated-order trigger charges and bridging costs.", "saiSources": [ "fees" ] }, { "id": "holding", "label": "Size and time sensitivity", "meaning": "Use full position size and the intended holding period. The ApeX snapshot does not establish a complete holding-cost model; missing evidence is not zero cost.", "apex-omni": "This pinned snapshot does not establish a complete holding-cost model.", "apex-omniSources": [], "evedex": "The leverage guide bases trading and funding costs on full position size, with trading fees applying to opening and closing.", "evedexSources": [ "notional" ], "sai": "The provider explanation describes a continuous borrowing fee updated by block rather than conventional fixed-window funding payments.", "saiSources": [ "model" ] }, { "id": "exit", "label": "Exit conditions and incentives", "meaning": "Available withdrawal liquidity, reward eligibility and rapid-close fees affect different parts of an exit. They cannot be reduced to one payout or speed score.", "apex-omni": "The withdrawal-fee endpoint requires sufficient available balance; fast withdrawals also require available fast-pool liquidity.", "apex-omniSources": [ "api" ], "evedex": "The rewards guide describes benefit eligibility and a withdrawal example in which gas must also be covered.", "evedexSources": [ "rewards" ], "sai": "The fee page describes an extra rapid-close charge that decays with holding time. Protected markets can use different peak settings.", "saiSources": [ "fees" ] }, { "id": "execution", "label": "Execution evidence", "meaning": "Order submission and supported order types do not prove fills or stop-loss reliability. No matched execution test is available.", "apex-omni": "The FAQ requires a signed price for market orders and describes conditions under which the order is cancelled.", "apex-omniSources": [ "faq" ], "evedex": "This review does not establish personal eligibility, current executable depth, stop-loss reliability or withdrawal completion.", "evedexSources": [], "sai": "The Nibiru overview describes oracle settlement, market/limit orders and stop-loss/take-profit triggers.", "saiSources": [ "chain" ] }, { "id": "permissions", "label": "Permissions and remaining risk", "meaning": "Signing keys, wallet recovery and liquidation penalties are different risk controls. DN has not audited their implementation or verified live revocation and recovery behaviour.", "apex-omni": "The FAQ distinguishes API credentials from zkLink signing keys. Order creation and withdrawal requests require zkLink signatures.", "apex-omniSources": [ "faq" ], "evedex": "The onboarding guide offers external-wallet connection or an email-created wallet and describes recovery credentials for the latter.", "evedexSources": [ "wallet" ], "sai": "The guide applies fee multipliers to ordinary trading charges but describes liquidation fees separately as collateral-based and exempt from those discounts.", "saiSources": [ "fees" ] }, { "id": "evidence", "label": "What remains unmeasured", "meaning": "Individual eligibility, current depth, all-in executable costs and independently tested withdrawals remain unknown. Documentation volume is not a safety ranking.", "apex-omni": "This pinned snapshot provides no independent measurements of execution, withdrawal reliability or individual eligibility.", "apex-omniSources": [], "evedex": "This pinned snapshot provides no independent measurements of execution, withdrawal reliability or individual eligibility.", "evedexSources": [], "sai": "This pinned snapshot provides no independent measurements of execution, withdrawal reliability or individual eligibility.", "saiSources": [] } ], "unknowns": [ "Matched executable quotes including entry, holding and exit costs", "Independent fill, stop-loss and withdrawal reliability", "Current permissions, recovery and revocation behaviour", "Individual eligibility and current regional restrictions" ], "history": [ { "date": "2026-10-14", "type": "DN publication", "detail": "Initial comparison of pinned documentation snapshots. Evidence coverage differs; unsupported conditions remain unknown." } ], "reviewTriggers": [ "Changed official product, fee, margin or withdrawal documentation", "A substantiated correction", "The earliest underlying editorial review deadline" ], "disclosure": "DN may receive compensation through commercial links elsewhere on the site. This comparison has no trading CTA or payout-based ranking. Documentation does not establish current operational status, safety or user eligibility.", "evidenceSnapshots": { "apex-omni": { "schemaVersion": 1, "id": "apex-omni", "version": "1.0.0", "name": "ApeX Omni", "reviewedAt": "2026-10-14", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "provider_documentation", "liveTested": false, "summary": "ApeX Omni separates funding from trading balances and supports cross collateral. API signing controls and withdrawal liquidity conditions deserve separate checks from a trading-fee headline.", "scope": "Provider-documentation review of ApeX Omni perpetual trading. Not a live execution test, exhaustive product inventory, security audit or individual eligibility assessment.", "decisionTitle": "Separate the balance you hold from the actions you authorize.", "decisionContext": "Scope: Omni perpetuals and their funding/API workflow. Spot, prediction and tokenized-asset products are outside this brief. Documentation is not proof of current account eligibility or successful execution.", "sources": [ { "id": "api", "name": "ApeX Omni API reference", "url": "https://api-docs.omni.apex.exchange/", "reviewedAt": "2026-10-14" }, { "id": "faq", "name": "ApeX Omni API FAQ", "url": "https://api-docs.omni.apex.exchange/faq/index.html", "reviewedAt": "2026-10-14" } ], "networks": [ { "id": "apex-omni", "name": "ApeX Omni perpetual trading (review scope)", "collaterals": [], "collateralNote": "The Omni API reference lists USDT alongside several cross-collateral assets, including USDC. Confirm current eligibility and margin valuation for the chosen asset." } ], "claims": [ { "id": "funding", "question": "Does a funding deposit immediately become trading margin?", "label": "Provider-reported", "finding": "The API guide separates the Omni funding account from the Perps account and describes a transfer between them.", "consequence": "Check available trading balance after the transfer; a completed deposit alone does not establish usable margin.", "sourceIds": [ "api" ] }, { "id": "collateral", "question": "Does cross collateral mean every asset has the same risk?", "label": "Provider-reported", "finding": "The reference lists several supported collateral tokens alongside USDT. It separately evaluates account equity and maintenance margin.", "consequence": "Confirm current collateral valuation and limits. Volatile collateral can lose value while the position also moves against you.", "sourceIds": [ "api" ] }, { "id": "fees", "question": "Is Limit Fee a quoted all-in cost?", "label": "Provider-reported", "finding": "The FAQ defines Limit Fee as the maximum trading fee accepted in the signed request. It is an authorization bound.", "consequence": "A signing limit is not the final fee paid and does not estimate funding, execution price or withdrawal costs.", "sourceIds": [ "faq" ] }, { "id": "signing", "question": "Is an ordinary API key the complete signing model?", "label": "Provider-reported", "finding": "The FAQ distinguishes API credentials from zkLink signing keys. Order creation and withdrawal requests require zkLink signatures.", "consequence": "Review each credential and permission separately before automation. DN has not tested revocation or key-compromise recovery.", "sourceIds": [ "faq" ] }, { "id": "withdrawal", "question": "Does a fast-withdrawal request guarantee an immediate payout?", "label": "Provider-reported", "finding": "The withdrawal-fee endpoint requires sufficient available balance; fast withdrawals also require available fast-pool liquidity.", "consequence": "Verify route, fee and available capacity before relying on a withdrawal deadline. No payout timing has been measured.", "sourceIds": [ "api" ] }, { "id": "execution", "question": "Does a market-order API request guarantee a fill?", "label": "Provider-reported", "finding": "The FAQ requires a signed price for market orders and describes conditions under which the order is cancelled.", "consequence": "Validate price bounds and cancellation handling. A submitted request is not an execution receipt.", "sourceIds": [ "faq" ] } ], "illustration": null, "unknowns": [ "Current executable quotes and all-in holding costs", "Independent fill, stop-loss and withdrawal reliability", "Live signing permissions and revocation behaviour", "Individual eligibility and current regional restrictions" ], "history": [ { "date": "2026-10-14", "type": "DN publication", "detail": "Initial documentation brief. Account-specific conditions and evidence limits are preserved in this version." } ], "reviewTriggers": [ "Changed official product, fee or margin documentation", "A substantiated correction", "The 14-day editorial review deadline" ], "disclosure": "DN may receive compensation through commercial links elsewhere on the site. This brief contains no trading CTA or payout-based ranking. A documentation review does not establish current operational status or user eligibility." }, "evedex": { "schemaVersion": 1, "id": "evedex", "version": "1.0.0", "name": "EVEDEX", "reviewedAt": "2026-10-14", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "provider_documentation", "liveTested": false, "summary": "EVEDEX documentation separates USDT settlement, notional-based trading costs and activity-linked rewards. A cashback balance or wallet connection does not establish net cost or withdrawal reliability.", "scope": "Provider-documentation review of EVEDEX perpetual trading. Not a live execution test, exhaustive product inventory, security audit or individual eligibility assessment.", "decisionTitle": "Measure the trade before counting the rewards.", "decisionContext": "Scope: perpetual trading and documented wallet/reward workflows. Simulator results, loyalty benefits and provider custody claims are not independent execution or security evidence.", "sources": [ { "id": "markets", "name": "EVEDEX supported currencies", "url": "https://help.evedex.com/en/articles/11136636-which-currencies-are-supported", "reviewedAt": "2026-10-14" }, { "id": "fees", "name": "EVEDEX trading fees", "url": "https://help.evedex.com/en/articles/11136645-what-are-the-trading-fees", "reviewedAt": "2026-10-14" }, { "id": "notional", "name": "EVEDEX leverage and fees", "url": "https://help.evedex.com/en/articles/11401445-how-leverage-affects-trading-fees-perpetual-and-futures-contracts", "reviewedAt": "2026-10-14" }, { "id": "rewards", "name": "EVEDEX reward usage", "url": "https://help.evedex.com/en/articles/11136244-how-to-use-rewards-on-evedex", "reviewedAt": "2026-10-14" }, { "id": "wallet", "name": "EVEDEX onboarding", "url": "https://help.evedex.com/en/articles/11091764-how-to-get-started-on-evedex", "reviewedAt": "2026-10-14" } ], "networks": [ { "id": "evedex", "name": "EVEDEX perpetual trading (review scope)", "collaterals": [], "collateralNote": "The supported-currencies article states USDT settlement. It does not establish that every deposit asset or chain is accepted as margin." } ], "claims": [ { "id": "settlement", "question": "Does a USD market name tell you the settlement token?", "label": "Provider-reported", "finding": "The supported-currencies guide states that trades settle in USDT and that order-size and margin requirements vary by instrument.", "consequence": "Check contract specifications and the funding route. A market ticker is not a complete collateral specification.", "sourceIds": [ "markets" ] }, { "id": "fees", "question": "When is a trading fee charged?", "label": "Provider-reported", "finding": "The fee guide distinguishes liquidity-adding maker orders from liquidity-taking orders and charges on execution rather than mere order placement.", "consequence": "Inspect the actual fill classification and current account rate. A submitted limit order alone is not a fee receipt.", "sourceIds": [ "fees" ] }, { "id": "notional", "question": "Are costs calculated on the initial margin only?", "label": "Provider-reported", "finding": "The leverage guide bases trading and funding costs on full position size, with trading fees applying to opening and closing.", "consequence": "Calculate exposure before comparing fees. Raising notional against unchanged margin increases the monetary cost at the same rate.", "sourceIds": [ "notional" ] }, { "id": "rewards", "question": "Is cashback automatically equivalent to spendable cash?", "label": "Provider-reported", "finding": "The rewards guide describes benefit eligibility and a withdrawal example in which gas must also be covered.", "consequence": "Separate accrued rewards, claimable amounts and net proceeds. DN has not tested reward redemption or payout timing.", "sourceIds": [ "rewards" ] }, { "id": "wallet", "question": "Does email onboarding remove wallet responsibilities?", "label": "Provider-reported", "finding": "The onboarding guide offers external-wallet connection or an email-created wallet and describes recovery credentials for the latter.", "consequence": "Verify the chosen recovery and signing model. Provider self-custody descriptions are not an independent key-management audit.", "sourceIds": [ "wallet" ] }, { "id": "unknown", "question": "Have live execution and access conditions been tested?", "label": "Unknown", "finding": "This review does not establish personal eligibility, current executable depth, stop-loss reliability or withdrawal completion.", "consequence": "Check current terms and market conditions separately. Rewards and documentation do not establish operational safety. ", "sourceIds": [] } ], "illustration": null, "unknowns": [ "Current executable quotes and all-in holding costs", "Independent fill, stop-loss and withdrawal reliability", "Live signing permissions and revocation behaviour", "Individual eligibility and current regional restrictions" ], "history": [ { "date": "2026-10-14", "type": "DN publication", "detail": "Initial documentation brief. Account-specific conditions and evidence limits are preserved in this version." } ], "reviewTriggers": [ "Changed official product, fee or margin documentation", "A substantiated correction", "The 14-day editorial review deadline" ], "disclosure": "DN may receive compensation through commercial links elsewhere on the site. This brief contains no trading CTA or payout-based ranking. A documentation review does not establish current operational status or user eligibility." }, "sai": { "schemaVersion": 1, "id": "sai", "version": "1.0.0", "name": "SAI", "reviewedAt": "2026-10-14", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "provider_documentation", "liveTested": false, "summary": "SAI documents gasless trading on Nibiru, but trading, trigger and rapid-close charges remain separate. Collateral and holding-time conditions are essential to any cost comparison.", "scope": "Provider-documentation review of SAI perpetual trading. Not a live execution test, exhaustive product inventory, security audit or individual eligibility assessment.", "decisionTitle": "Gasless does not mean a cost-free round trip.", "decisionContext": "Scope: SAI perpetuals on Nibiru and documented fee mechanics. No live fee, contract-parameter or execution benchmark was performed. Liquidity-vault returns are outside scope.", "sources": [ { "id": "about", "name": "SAI platform and collateral guide", "url": "https://sai.fun/docs/learn", "reviewedAt": "2026-10-14" }, { "id": "fees", "name": "SAI trading and rapid-close fees", "url": "https://sai.fun/docs/learn/trading/fees", "reviewedAt": "2026-10-14" }, { "id": "model", "name": "SAI borrowing-model explanation", "url": "https://sai.fun/blog/01-intro-to-sai/", "reviewedAt": "2026-10-14" }, { "id": "chain", "name": "Nibiru SAI overview", "url": "https://nibiru.fi/docs/ecosystem/apps/sai-fun-perps", "reviewedAt": "2026-10-14" } ], "networks": [ { "id": "sai", "name": "SAI perpetual trading (review scope)", "collaterals": [], "collateralNote": "The current About guide describes USDC and stNIBI collateral. Verify the supported asset, bridge route and current app configuration before depositing." } ], "claims": [ { "id": "collateral", "question": "Is a funding-chain asset already usable on Nibiru?", "label": "Provider-reported", "finding": "The About guide describes USDC and stNIBI collateral and bridge routes to Nibiru EVM.", "consequence": "Verify the destination token and network. A supported collateral name does not make every transfer route compatible.", "sourceIds": [ "about" ] }, { "id": "gas", "question": "Which costs remain when trading gas is zero?", "label": "Provider-reported", "finding": "The fee guide distinguishes Nibiru gas from trading fees, automated-order trigger charges and bridging costs.", "consequence": "Include the complete entry, holding and exit path when comparing costs. Gasless trading alone says little about net performance.", "sourceIds": [ "fees" ] }, { "id": "rapid", "question": "Can a quick exit add a separate fee?", "label": "Provider-reported", "finding": "The fee page describes an extra rapid-close charge that decays with holding time. Protected markets can use different peak settings.", "consequence": "Inspect the selected market and intended holding period. A standard taker rate omits this possible exit cost.", "sourceIds": [ "fees" ] }, { "id": "liquidation", "question": "Do referral or tier discounts reduce every charge?", "label": "Provider-reported", "finding": "The guide applies fee multipliers to ordinary trading charges but describes liquidation fees separately as collateral-based and exempt from those discounts.", "consequence": "Keep ordinary trade charges and liquidation penalties separate. Discount eligibility is not loss protection.", "sourceIds": [ "fees" ] }, { "id": "holding", "question": "Does the absence of a fixed funding window remove holding costs?", "label": "Provider-reported", "finding": "The provider explanation describes a continuous borrowing fee updated by block rather than conventional fixed-window funding payments.", "consequence": "Verify the current borrowing rate and elapsed duration. No fixed funding window does not mean no cost of holding.", "sourceIds": [ "model" ] }, { "id": "execution", "question": "Does oracle settlement guarantee the desired exit?", "label": "Provider-reported", "finding": "The Nibiru overview describes oracle settlement, market/limit orders and stop-loss/take-profit triggers.", "consequence": "These are documented mechanisms, not measured reliability. DN has not verified fills or trigger execution under stress.", "sourceIds": [ "chain" ] } ], "illustration": null, "unknowns": [ "Current executable quotes and all-in holding costs", "Independent fill, stop-loss and withdrawal reliability", "Live signing permissions and revocation behaviour", "Individual eligibility and current regional restrictions" ], "history": [ { "date": "2026-10-14", "type": "DN publication", "detail": "Initial documentation brief. Account-specific conditions and evidence limits are preserved in this version." } ], "reviewTriggers": [ "Changed official product, fee or margin documentation", "A substantiated correction", "The 14-day editorial review deadline" ], "disclosure": "DN may receive compensation through commercial links elsewhere on the site. This brief contains no trading CTA or payout-based ranking. A documentation review does not establish current operational status or user eligibility." } } }