Aevo
score
Fees: Maker/taker tiers; standard funding
Aevo is a good fit for traders who want perps and options together with an options-first pedigree. Its liquidity is smaller and matching runs off-chain, so it suits users comfortable with that trade-off. This is not financial advice.
What Aevo is
Aevo is a decentralized derivatives exchange, launched in 2023, that combines perpetual futures with on-chain options in a single order-book interface. It is built by the team behind Ribbon, giving it a strong options heritage, and it uses off-chain matching to deliver a fast, exchange-like experience while keeping settlement on-chain. The pairing of perps and options in one venue is its defining characteristic.
How it scores
Products and leverage is the standout at 7.5, reflecting the combined perps-and-options offering that few on-chain venues match. Fees and funding (7) and reliability and UX (7) are solid, helped by fast off-chain matching. Security and audits (6.5) and liquidity and depth (6) are the softer scores: perp liquidity and open interest are modest versus larger venues, and options depth can thin out beyond the major expiries and strikes.
Costs and fees
Aevo uses maker/taker fee tiers with standard funding on its perpetuals, a familiar structure for order-book traders. The off-chain matching engine keeps execution responsive, closer to a centralized exchange than to a fully on-chain order book. For traders combining perps with options strategies, having both under one fee structure and one interface is part of the appeal.
The main caveat
The central trade-off is that the off-chain order book means matching is not fully trustless, which is reflected in the 6.5 security score. On top of that, perp liquidity and open interest are modest next to the larger venues, and options depth can be thin outside the busiest expiries and strikes. Traders who need deep books on demand, or who want fully on-chain matching, should weigh these limits carefully.
Who it is for
Aevo is a good fit for traders who specifically want perps and on-chain options together, backed by an experienced options-focused team. Those comfortable with off-chain matching and modest depth in exchange for a fast, combined interface will get the most from it. If you need the deepest liquidity or fully trustless execution, other venues fit better. This is not financial advice.
Overall 6.7 / 10 — the weighted average of the criteria above. How we score →
- + Combines perps and on-chain options in one order-book interface
- + Off-chain matching gives a fast, CEX-like trading experience
- + Backed by the experienced Ribbon/Aevo team with strong options heritage
- − Off-chain order book means matching is not fully trustless
- − Perp liquidity and open interest are modest versus larger venues
- − Options depth can be thin outside major expiries and strikes
Is Aevo safe?
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Its 6.5 security score centers on one trade-off: matching happens on an off-chain order book, so it is not fully trustless, even though settlement is on-chain. It is backed by the experienced Ribbon/Aevo team, but you should be comfortable with the off-chain matching model before committing significant funds.
What can you trade on Aevo?
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Aevo combines perpetual futures with on-chain options in a single order-book interface, which is unusual on-chain and drives its top criterion score of 7.5 for products and leverage. This lets traders run perp and options strategies in one venue.
What are Aevo's fees?
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Aevo uses maker/taker fee tiers with standard funding on its perpetuals, a familiar setup for order-book traders. The off-chain matching engine keeps execution fast, giving a centralized-exchange feel while settlement stays on-chain.
Does Aevo have good liquidity?
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Liquidity is its weakest criterion at 6. Perp open interest is modest compared with the largest venues, and options depth can be thin outside major expiries and strikes. It works well for many trades, but very large orders may feel the shallower book.
Who is behind Aevo?
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Aevo is built by the team behind Ribbon, giving it strong options heritage that shows in its options-first pedigree. That background is part of why its combined perps-and-options offering is a relative strength.