{ "schemaVersion": 1, "id": "paradex-vs-grvt", "version": "1.1.0", "name": "Paradex vs GRVT", "reviewedAt": "2026-10-22", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "documentation_comparison", "liveTested": false, "summary": "Current documentation sharpens the comparison rather than producing an overall winner. Paradex Retail/Pro routing now has explicit speed bumps, limits and fee schedules; GRVT MAM now exposes CVRs, 9-tier trading fees and repayment charges. Both still leave live execution, permissions and user-specific eligibility unmeasured.", "scope": "2 pinned documentation briefs compared by decision condition. Not a live execution test, security audit, exhaustive product inventory or individual eligibility assessment.", "comparisonContext": "Paradex Retail/Pro order treatment and GRVT Single-Asset/Multi-Asset margin are different kinds of settings. This comparison preserves those distinctions and does not equate their accounts, networks or cost schedules.", "comparisonParticipants": [ "paradex", "grvt" ], "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": "mode", "label": "Classification and account mode", "meaning": "Paradex order classification and GRVT margin mode are different controls. Check both the submission route and the account's haircut-adjusted margin setting before comparing capital efficiency.", "paradex": "Retail status is determined by submission route: UI and interactive-JWT orders are Retail; standard API orders default to Pro, and exceeding Retail limits switches treatment.", "paradexSources": [ "orders" ], "grvt": "MAM currently supports USDT and USDC with documented CVRs and enabled-collateral controls; Single-Asset Mode counts USDT only.", "grvtSources": [ "margin" ] }, { "id": "collateral", "label": "Usable collateral and debt", "meaning": "Total account value is not available margin. GRVT's broader collateral model adds debt and conversion mechanics that Paradex's USDC-only perp margin does not.", "paradex": "Non-USDC balances contribute to account value but not free collateral; USDC remains required for perpetual trading in the reviewed collateral guide.", "paradexSources": [ "collateral" ], "grvt": "Perps settle in USDT. Under MAM, USDC can contribute haircut-adjusted collateral, while a USDT shortfall can create borrow interest and later repayment/conversion fees.", "grvtSources": [ "margin" ] }, { "id": "fees", "label": "Fee conditions", "meaning": "Zero Retail commission and maker rebates are not all-in cost conclusions. Match route/tier and include holding, borrowing and repayment costs.", "paradex": "Retail maker/taker fees are 0% across Perps, Spot and Options. Pro maker fees are 0.003%, while Pro taker fees use a 14-day combined-volume schedule starting at 0.045% with documented discounts and a 0.0175% floor.", "paradexSources": [ "fees" ], "grvt": "The current 9-tier schedule ranges from maker rebates of -0.0001% to -0.0030% and taker fees of 0.0450% to 0.0240%; MAM debt repayment can add 0.1%+ conversion fees depending on repayment path.", "grvtSources": [ "fees" ] }, { "id": "funding", "label": "Balance and funding interpretation", "meaning": "Check the resulting asset after a deposit or conversion. Holding a token, counting it as margin and settling a trade in it are distinct conditions.", "paradex": "The collateral guide says non-USDC balances contribute to total account value but not free collateral, and USDC is required for perpetual markets.", "paradexSources": [ "collateral" ], "grvt": "The USDC deposit article describes automatic conversion to USDT through Rhino. The newer MAM guide separately describes USDC held as collateral.", "grvtSources": [ "deposit", "margin" ] }, { "id": "withdrawal", "label": "Withdrawal conditions", "meaning": "Use the account-specific withdrawable amount and live route quote. Neither static rule set establishes observed payout speed or reliability.", "paradex": "Withdrawable USDC is bounded by free collateral and account USDC balance; margin health is checked every five seconds and liquidation begins at 100% margin ratio.", "paradexSources": [ "risk" ], "grvt": "Static pages still differ slightly: the fee page lists network-specific flat fees, while the withdrawal article describes several Rhino routes as 1 USDT plus bridge gas.", "grvtSources": [ "fees", "withdrawal" ] }, { "id": "execution", "label": "Execution and liquidation limits", "meaning": "Configured queue treatment and liquidation mechanics are not comparable execution-quality measurements. No speed/safety winner is supported.", "paradex": "Retail orders have 300 ms order/cancel speed bumps, low documented rate limits, RPI access and queue priority; Pro orders have no speed bump and higher limits. DN has not measured realised fills.", "paradexSources": [ "orders" ], "grvt": "MAM can trigger automatic conversions or liquidation when haircut-adjusted margin deteriorates; DN has not reproduced those paths.", "grvtSources": [ "margin" ] }, { "id": "evidence", "label": "What remains unmeasured", "meaning": "Current permissions, individual eligibility and independently observed fills and withdrawals remain unverified.", "paradex": "This review does not establish individual eligibility, API permission safety or live withdrawal and stop-loss reliability.", "paradexSources": [], "grvt": "This pinned snapshot provides no independent measurements of execution, withdrawal reliability or individual eligibility.", "grvtSources": [] } ], "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": "2026-10-22", "type": "DN evidence refresh", "detail": "Comparison refreshed to Paradex 1.1.0 and GRVT 1.1.0 after primary-source review. No live fill, borrowing, withdrawal, permission or eligibility test was performed." }, { "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": { "paradex": { "schemaVersion": 1, "id": "paradex", "version": "1.1.0", "name": "Paradex", "reviewedAt": "2026-10-22", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "provider_documentation", "liveTested": false, "summary": "Paradex still classifies orders by submission method rather than permanent user type. Current docs make the trade-offs explicit: Retail orders have 300 ms order/cancel speed bumps, much lower rate limits, zero fees across Perps/Spot/Options, RPI access and queue priority, while Pro orders use the API fee schedule and no speed bump.", "scope": "Provider-documentation review focused on perpetual trading. Not an exhaustive product inventory, live execution test, security audit or individual eligibility assessment.", "decisionTitle": "The order route changes the trading conditions.", "decisionContext": "Do not treat Retail as a permanent identity. Check how each order is submitted, its resulting classification and the margin actually available.", "sources": [ { "id": "orders", "name": "Paradex Retail and Pro orders", "url": "https://docs.paradex.trade/trading/trader-profiles", "reviewedAt": "2026-10-22" }, { "id": "fees", "name": "Paradex trading fees", "url": "https://docs.paradex.trade/trading/trading-fees", "reviewedAt": "2026-10-22" }, { "id": "collateral", "name": "Paradex non-USDC balances and collateral", "url": "https://docs.paradex.trade/trading/spot-trading/non-usdc-balances-collateral", "reviewedAt": "2026-10-22" }, { "id": "risk", "name": "Paradex risk checks", "url": "https://docs.paradex.trade/risk/paradex-risk-checks", "reviewedAt": "2026-10-22" } ], "networks": [ { "id": "paradex", "name": "Paradex perpetual trading (review scope)", "collaterals": [], "collateralNote": "USDC required for perps in the reviewed collateral guide; non-USDC balances are not free collateral." } ], "claims": [ { "id": "classification", "question": "What makes an order Retail or Pro?", "label": "Provider-reported", "finding": "Orders remain classified by how they are submitted. Web UI and interactive-JWT API orders are Retail; standard API orders default to Pro. Exceeding Retail limits automatically switches the account to Pro-order behavior and removes RPI access.", "consequence": "Treat order classification as route-dependent and potentially dynamic. Automation can change fee, queue and execution conditions without a separate user-profile change.", "sourceIds": [ "orders" ] }, { "id": "fees", "question": "Does every order receive zero trading fees?", "label": "Provider-reported", "finding": "Retail maker and taker fees are currently 0% across Perps, Spot and Options. Pro Perps/Spot maker orders have a flat 0.003% fee; Pro taker fees use a 14-day combined-volume schedule starting at 0.045% and can be reduced by documented discounts, with a 0.0175% floor.", "consequence": "A zero-fee Retail headline is not an API cost estimate. Confirm the actual order class, product, 14-day tier and discounts before estimating trading cost.", "sourceIds": [ "fees" ] }, { "id": "execution", "question": "What trade-off accompanies Retail treatment?", "label": "Provider-reported", "finding": "Retail orders have documented 300 ms order-submission and cancellation speed bumps, 3 orders/sec, 30/min, 300/hr and 1,000/24h limits, plus RPI access and queue priority. Pro orders have no speed bump and substantially higher API limits.", "consequence": "These configuration differences do not establish realised fill quality. DN has not measured latency, queue advantage or slippage for either route.", "sourceIds": [ "orders" ] }, { "id": "collateral", "question": "Does total account value equal usable perp collateral?", "label": "Provider-reported", "finding": "The collateral guide says non-USDC balances contribute to total account value but not free collateral, and USDC is required for perpetual markets.", "consequence": "Do not count a non-USDC spot holding as available perp margin. The guide describes broader collateral support as future work.", "sourceIds": [ "collateral" ] }, { "id": "withdrawals", "question": "Can the whole displayed balance always be withdrawn?", "label": "Provider-reported", "finding": "Current risk checks evaluate account health every five seconds. Withdrawable USDC is capped by both free collateral and the account's USDC balance, with liquidation triggered when margin ratio exceeds 100%.", "consequence": "Account value, free collateral and withdrawable USDC remain distinct. The documented formula does not establish observed withdrawal speed or liquidation outcomes.", "sourceIds": [ "risk" ] }, { "id": "access", "question": "Has DN independently checked access and permissions?", "label": "Unknown", "finding": "This review does not establish individual eligibility, API permission safety or live withdrawal and stop-loss reliability.", "consequence": "Check current terms and access controls separately. Provider documentation is not an independent safety endorsement.", "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": "2026-10-22", "type": "DN evidence review", "detail": "Re-opened the four cited Paradex documentation pages. Core Retail/Pro, USDC-collateral and withdrawal conclusions remain supported; this version adds current speed-bump, rate-limit and fee-tier details. No live execution, permission, withdrawal or eligibility test was performed." }, { "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." }, "grvt": { "schemaVersion": 1, "id": "grvt", "version": "1.1.0", "name": "GRVT", "reviewedAt": "2026-10-22", "reviewIntervalDays": 14, "reviewer": "Decentralised News editorial research", "evidenceType": "provider_documentation", "liveTested": false, "summary": "GRVT still separates Single-Asset and Multi-Asset Margin, with USDT settlement and USDC collateral support under MAM. Current docs now specify CVRs, hourly borrowing, current 9-tier trading fees and MAM repayment charges, while withdrawal pages still differ slightly on route-fee presentation.", "scope": "Provider-documentation review of GRVT perpetual trading. Not a live execution test, exhaustive product inventory, security audit or individual eligibility assessment.", "decisionTitle": "Check the margin mode before counting your collateral.", "decisionContext": "Deposit currency, usable margin and settlement currency are separate questions. Confirm the actual account mode and funding route before relying on a general USDC-support statement.", "sources": [ { "id": "margin", "name": "GRVT multi-asset margin guide", "url": "https://help.grvt.io/en/articles/16857432-multi-asset-margin-a-complete-guide", "reviewedAt": "2026-10-22" }, { "id": "deposit", "name": "GRVT USDC deposit route", "url": "https://help.grvt.io/en/articles/12275552-depositing-usdc-into-grvt", "reviewedAt": "2026-10-22" }, { "id": "fees", "name": "GRVT fee model", "url": "https://help.grvt.io/en/articles/9614699-how-does-grvt-s-fee-model-work", "reviewedAt": "2026-10-22" }, { "id": "withdrawal", "name": "GRVT deposit and withdrawal fees", "url": "https://help.grvt.io/en/articles/9635479-are-you-charging-any-fees-on-deposits-and-withdrawals", "reviewedAt": "2026-10-22" } ], "networks": [ { "id": "grvt", "name": "GRVT perpetual trading (review scope)", "collaterals": [], "collateralNote": "The MAM guide lists USDT and USDC; Single-Asset Mode uses USDT. Haircuts and account settings affect usable margin." } ], "claims": [ { "id": "collateral", "question": "Does holding USDC always provide margin?", "label": "Provider-reported", "finding": "MAM currently supports USDT and USDC; USDT is always enabled and USDC is enabled by default but can be toggled. Current CVRs are documented at 99.8% for USDT and 99.5% for USDC, so Margin Balance is haircut-adjusted rather than equal to Total Equity.", "consequence": "Check margin mode, enabled collateral and haircut-adjusted Margin Balance rather than using raw stablecoin balances as buying power.", "sourceIds": [ "margin" ] }, { "id": "borrowing", "question": "Can a stablecoin balance still create a borrowing cost?", "label": "Provider-reported", "finding": "Perpetuals still settle in USDT. Under MAM, a USDT shortfall can auto-borrow USDT against other collateral and accrue hourly interest. Current docs also describe manual, automated and liquidation repayment paths with conversion fees.", "consequence": "Model debt interest and repayment/conversion fees separately from trading fees and funding. A positive Total Equity balance does not rule out USDT debt.", "sourceIds": [ "margin" ] }, { "id": "deposit", "question": "Is the deposit route the same as collateral support?", "label": "Provider-reported", "finding": "The USDC deposit article describes automatic conversion to USDT through Rhino. The newer MAM guide separately describes USDC held as collateral.", "consequence": "These describe different flows. Verify the selected deposit preview and resulting asset; do not assume every USDC deposit stays USDC.", "sourceIds": [ "deposit", "margin" ] }, { "id": "fees", "question": "Which fee schedule applies?", "label": "Provider-reported", "finding": "The current fee page uses a 9-tier 30-day-volume schedule. Perps maker rates range from -0.0001% to -0.0030% and taker rates from 0.0450% to 0.0240%. Under MAM, converting collateral to repay USDT debt adds a fee with a 0.1% floor; current USDC examples are 0.1% manual, 0.125% automated and 0.25% liquidation repayment.", "consequence": "Use the current tier and order side, then add funding, borrow interest and any repayment conversion fee. Maker rebates do not imply a negative all-in trading cost.", "sourceIds": [ "fees" ] }, { "id": "withdrawal", "question": "Can a single published withdrawal figure cover every route?", "label": "Documentation difference", "finding": "The fee-model page currently lists flat network amounts such as 2 USDT on Ethereum, 1.01 USDT on Arbitrum/BNB, 1.5 USDT on Solana and 1.4 USDT on Tron. The dedicated withdrawal article instead describes Ethereum as 2 USDT and Rhino routes such as Arbitrum/Base/BNB/Tron/KAIA/Solana as 1 USDT plus Rhino gas.", "consequence": "A small documentation difference remains. Use the live withdrawal quote and route rather than relying on either static page as a universal total.", "sourceIds": [ "fees", "withdrawal" ] }, { "id": "risk", "question": "Does multi-asset collateral prevent liquidation?", "label": "Provider-reported", "finding": "MAM measures liquidation risk against haircut-adjusted Margin Balance. The current guide says margin-call notification occurs at 90% MMR and liquidation begins at 100%, with automatic conversions possible during stressed repayment paths.", "consequence": "Multi-asset collateral increases flexibility but does not eliminate liquidation or conversion risk. DN has not reproduced these events.", "sourceIds": [ "margin" ] } ], "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": "2026-10-22", "type": "DN evidence review", "detail": "Re-opened the four cited GRVT help pages. This version adds current CVRs, 9-tier fee rates and MAM repayment-fee mechanics, and narrows the remaining withdrawal documentation difference. No live trade, borrow, conversion, withdrawal or eligibility test was performed." }, { "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." } } }