The v3 Merge

In the first half of 2024, Kwenta contributors revealed a bold plan for decentralized trading. Beginning with the v3 beta release, the community began construction on a fundamentally crosschain product enabling perps aggregation. Today, Kwenta’s vision for a powerful portfolio management dashboard across chains becomes a reality. Kwenta is pleased to present the official v3 mainnet release, merging the trading experience between Optimism and Base, and setting the stage for Arbitrum and beyond. Let’s dig in to the details.

The v3 Mainnet Release

After an extensive period of beta testing, Kwenta v3 is now fully integrated into Kwenta’s main UI. This provides users with easy access to the powerful new perps system on Base, featuring support for USDC, portfolio margin, and future upgrades to enable multi-collateral margin, long tail assets, and more.

With this release, v3 on Base will become the default trading experience for users entering the Kwenta app, however users can still quickly switch between Optimism and Base in the navigation menu. To navigate between futures deployments, simply hover over Futures in the Kwenta app and select your preferred integration from the dropdown menu.

Quickly switch between integrations.
Quickly switch between integrations.

The Crosschain Dashboard

As part of the v2x upgrade, Kwenta users on Optimism were treated to a sleek redesign of their portfolio dashboard which gives users a visual, realtime PnL view, account management, and a comprehensive view of order history, available markets, and an all time leaderboard.

By introducing a combined dashboard where users can seamlessly toggle between accounts on Optimism and Base, including the ability to manage deposits, swap, and bridge assets right inside the Kwenta app, Kwenta makes it easier than ever to monitor positions across chains or migrate.

Track and manage your trading across networks.
Track and manage your trading across networks.

Stay tuned for additional content including audio and video tutorials demonstrating just how easy it is to migrate between chains on the new Kwenta dashboard.

Market Details

Each synthetic perps market on Kwenta is derived from a popular spot asset, which may include digital assets or traditional markets. Market parameters are set based on their unique profiles to simulate offchain liquidity and offer traders exposure at the lowest price while managing systemic risk and incentivizing LPs.

Traders can now view the market details for each synthetic market on Kwenta, giving traders a summary of the underlying asset as well as current parameters which dictate fees, price impact, funding rate volatility, OI and leverage limits, and margin requirements.

View details and parameters of your chosen market.
View details and parameters of your chosen market.

An Aggregated Stats Page

Want to follow Kwenta’s performance and progress in becoming Web3’s ultimate perps trading destination? Kwenta’s familiar stats page just got a major upgrade to track metrics across multiple chains. Now each chart on the Kwenta stats dashboard shows values for Optimism, Base, and the combined total across chains.

See crosschain stats in a single chart.
See crosschain stats in a single chart.

Rewards Tracking

Last week, our partners at Synthetix announced fee rebates for Kwenta traders. To help you track your eligibility, Kwenta has introduced rewards estimates and tracking in our UI, allowing you to see multiple rewards types across different integrations. You can see rewards in 3 places:

  • When selecting an integration from the Futures dropdown, available rewards for each deploy are displayed right in the menu.

  • Rebate estimates now appear order entry panel when you place your trade.

  • Estimated upcoming rewards and rebates are displayed at the top of the trading UI.

Track rewards and rebates throughout the Kwenta UI.
Track rewards and rebates throughout the Kwenta UI.

For more information on the latest program, 90% fee rebates on Base, see this blog from Synthetix.

The v2 Maintenance Fee

To ensure sufficient resources to maintain multiple deployments, a small fee will be introduced for transactions on our v2 perpetual futures markets on Optimism. Effective immediately, a 0.5 basis point (0.005%) fee will be applied to all orders placed through Kwenta. This "maintenance fee" is designed to ensure the continued high-quality performance of the Synthetix v2 perps markets, even as we transition to newer more advanced versions of Perps mechanisms on Base and Arbitrum.

Traders may continue to enjoy no added fee on Base and generous rebates for Base traders.

For those who prefer to continue trading on Optimism v2, we’ve opted to keep the fee as low as possible to ensure developers can continue to build and maintain the product across these networks. For more information, please review the full proposal here.


  • Fee Rate: 0.5 basis points on the notional position size (0.005%)

  • Application: Deducted from SMv2 account balances or market margin in sUSD during the execution of a trade.

What’s a Basis point? Basis points are a common unit of measurement in finance. A basis point is 1/100th of 1%

Example: ETH Trade

Assuming a trader wants to short ETH with a notional size of $1000.

The notional size amount is multiplied by .bps fee to get the amount that will be paid to the Kwenta Treasury in fees during execution. In this example $1000 x (.00005) which is $0.05 in addition to existing fees.

Join the Kwenta Community

Kwenta is a decentralized derivatives exchange owned and operated by the community. You’re invited to get involved.

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