Ostium Review
MIT-licensed with six named audit reports
of 10
Ostium publishes an opening fee of 3 to 10 basis points by asset, a flat $0.10 oracle fee refunded on full closes, a rollover fee in place of funding, and a liquidation formula backed by a stated 25% collateral backstop. Its public contracts are MIT and six audit reports are named.
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Opening fee
3-10 bps by asset
Oracle fee
$0.10 USDC flat, refunded on full closes, capped 10 USDC/tx
Funding
Rollover fee, accrues per block, updated daily
Liquidation
Formula-based; 25% collateral backstop, no separate liquidation fee
Licence
MIT (public contracts)
Scores
Each criterion carries equal weight. The overall score is the average of these 5 scores — (8.0 + 8.0 + 9.0 + 10.0 + 8.0) ÷ 5 = 8.6.
Pros
- Opening fee published as 3-10 bps by asset; oracle fee a flat $0.10 USDC, refunded on full closes
- No separate closing or liquidation fee charged to the trader
- Liquidation threshold given as a published formula, with a 25% collateral backstop on all leveraged trades
- Six audit reports named: Zellic, ThreeSigma and Pashov Audit Group, dated 2024 to 2026
- Public contracts under the MIT licence
Cons
- Maker/taker structure is not specified; it uses opening fees instead
- Uses a rollover fee anchored to real-world carry rather than a conventional funding rate, which is less familiar
- Some repositories in the organisation carry no licence
Costs and liquidation both published as formulas
Ostium states an opening fee of 3 to 10 basis points depending on the asset, a flat $0.10 oracle fee that is refunded on a successful full close, and no separate closing fee. Liquidation is given as a published formula — the threshold scales with leverage against a per-pair maximum — with a 25% collateral backstop on all leveraged trades and no separate liquidation fee charged to the trader.
A rollover fee instead of funding
Rather than a conventional funding rate, Ostium uses a rollover fee anchored to real-world carry costs, accruing per block and updated daily. It suits an exchange focused on real-world assets, though it is less familiar than the hourly funding most competitors use, and the review flags that plainly.
The strongest audit record here
Six reports are named and dated, from Zellic, ThreeSigma and the Pashov Audit Group, spanning 2024 to 2026 — the most complete audit disclosure in this comparison.
How it compares
Drift
Apache-2.0 core; live docs now serve a fork
Jupiter Perps
Fees documented, core program closed
Gains Network
Granular fee schedule, core licence unconfirmed
Paradex
Low maker fee published, wider docs unreachable
Aevo
Fees and liquidation tiers published, code unverified
Orderly Network
Apache-2.0 core with three named auditors
GMX
Imbalance-based fees, five named auditors
dYdX
AGPL-licensed core with a published liquidation cap
Hyperliquid
Hourly funding and liquidations documented in full
Sources
Scored from published primary sources rather than hands-on use. Every figure above comes from one of the pages below, on the date shown. Manufacturers change prices and specifications without notice — if something here no longer matches the source, tell us and we will correct it.
- 1.Ostium — fees — checked
- 2.Ostium — liquidation — checked
- 3.Ostium — security and audits — checked
- 4.Ostium — public smart contracts (MIT) — checked
Frequently asked questions
What does Ostium charge to open a trade?
An opening fee of 3 to 10 basis points depending on the asset, plus a flat $0.10 USDC oracle fee that is refunded on a successful full close. There is no separate closing fee.
Does Ostium charge a liquidation fee?
No separate liquidation fee is charged to the trader. Liquidation follows a published formula with a 25% collateral backstop on all leveraged trades.
Nothing here is financial advice. Editorial policy · How we score · How we're funded.