Derive V2 Review: What to Check Before Trading
Derive V2 is an onchain options and perpetuals exchange, but its fees and audit status need checking before you connect a wallet or trade.
By the SkyBitcoins review team · Updated
At a glance
Derive V2 key facts
| Type | Onchain options, perps and spot exchange |
|---|---|
| Custody | Described as self-custodial |
| Chains | Ethereum, Optimism, Base, Arbitrum and others |
| Token | DRV |
| Value locked | $295K−0.1% 7d |
| Updated |
Derive V2 FAQs
Is Derive V2 self-custodial?
Derive V2 describes itself as a self-custodial exchange. That means you connect a wallet to trade rather than handing custody to a traditional exchange, but it does not remove smart-contract or trading risks.
What can you trade on Derive V2?
The listed markets include options, perpetuals and spot trading. The project promotes crypto options and futures, including BTC and ETH; check the app for the markets currently available to your wallet and network.
What are Derive V2’s fees, and has it been audited?
Derive V2's fees are not published in the project information here, and no audits are listed. Check the app's current trading costs and verify the contracts and network before depositing or approving a transaction.
Compare
Derive V2 alternatives
Hyperliquid offers non-custodial spot and perpetual trading on its own L1, but fees and leverage risks merit a careful check.
Derive offers Ethereum options and perps with self-custody, but confirm its fees, collateral rules and access terms before trading.
Volmex offers crypto volatility indices and API data, while linked derivatives trade on outside venues with separate fees and risks.
Grvt offers multi-asset perpetuals, spot trading and yield features, but verify fees, custody and account rules before funding.
GMX offers wallet-based spot and perpetual trading on Arbitrum and Avalanche, but variable costs and smart-contract risks call for care.
gTrade offers wallet-based perpetuals across crypto and traditional markets, but high leverage and incomplete fee details call for caution.
Same category
More Derivatives dApps
Orderly powers branded perpetual DEXs, but each app sets its own fees and experience, so check the specific platform before trading.
Orderly supplies shared infrastructure for branded perp DEXs, but compare each venue’s fees, risks and network support before trading.
Contango V2 automates leveraged DeFi looping, but check borrowing costs, liquidation conditions and contract risks before opening a position.
MUX Perps aggregates leveraged crypto trading across five chains, but check live costs, liquidation rules and contract risks before trading.
Ostium offers leveraged Arbitrum perpetuals across FX, commodities, equities and crypto, but check its fees, audits and local availability first.
dYdX offers decentralized crypto perpetuals on dYdX Chain, but verify current fees, wallet requirements and trading risks before funding.
Same chain
More on Optimism
Bitvavo offers euro funding, 400+ crypto assets and Pro Mode, but check withdrawal terms and the separate risks of staking and leverage.
Aave V3 offers non-custodial lending and collateralised borrowing, but rates vary and deposits remain exposed to DeFi and liquidation risks.
Compound V3 offers variable-rate crypto lending across several networks, but market terms and liquidation risks require close checking.
Uniswap V2 enables wallet-based swaps and liquidity provision, but check the pool, network, gas and token risks before you trade.
Uniswap V3 offers wallet-based token swaps and concentrated liquidity, but check pool fees, gas, execution risks and price-range exposure.
Uniswap v4 offers multichain swaps and customizable pools, but check each pool’s fees, hook behavior and risks before trading.
How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.