RISEx review
Live RISEx stats updated every minute: 24h volume, open interest, fees (0.010% maker / 0.030% taker), and up to 25x leverage across 15+ pairs on RISE Chain.
Verdict
5.0/10 · how we rankRanked #23 of 88 DefiLlama-listed perp DEXes by 24h volume (0.80% share, 2026-10-11 snapshot). Taker fee 0.03% is below the DEX median of 0.04%.
Advantages
- Genuinely low fees — 0.03% taker / 0.01% maker undercuts most CEXes and matches the cheapest perp DEXes
- Serious backing and pedigree: ~$8M raised (Galaxy Ventures + a Finality Capital seed with Vitalik Buterin and Stani Kulechov as angels), built on the acquired BSX team that had done $15B+ cumulative volume
- A true on-chain CLOB with real ERC-20 collateral on mainnet, not an oracle/AMM model
- Transparent, well-documented API and market data even while trading access is gated
Considerations
- No completed, published third-party audit — DefiLlama's own metadata records zero audits — on a venue that is already live on mainnet holding real collateral. This is the single biggest risk
- Trading is gated/invite-only, so the real user base is small and you may not be able to trade at all without an invite
- Reported volume ($69M+/24h) is plausibly amplified by cash-prize volume competitions on a tiny base — open interest ($16–18M) is a fraction of daily volume, a classic incentive-farming signature
- No live token yet (impostor "RISE" tokens exist — be careful), and leverage is modest (25x majors) versus 50–100x elsewhere
Last editorial review 2026-07-13 · live protocol stats refresh every minute — rating is our editorial assessment, not an objective fact.
- Fees (maker / taker)
- 0.010% / 0.030%
- Max leverage
- 25x
- Markets
- 15+ pairs
- Chain
- RISE Chain
- Launch date
- 2026-05
RISEx — volume and open interest
Venue terms from the registry. Daily volume series since 2026-06-05; latest observed day 2026-10-11.
RISEx is an on-chain order-book perpetuals DEX on RISE Chain, an Ethereum L2. Base fees are 0.03% taker and 0.01% maker, with up to 25x leverage on BTC and ETH. The main risks are clear: no completed public security audit, invite-only access, and volume incentives on a small user base.
Market share by 24h volume
- Hyperliquid Perps33.4%
- Lighter Perps10.5%
- Variational6.0%
- GMX Solana5.0%
- edgeX V23.9%
- Other ranked venues41.2%
Share of reported 24h volume across the 88 ranked DefiLlama-listed perp DEXes in the 2026-10-11 snapshot. Browse DefiLlama-listed perp DEXes
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Live figures
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Taker fee vs other perp DEXes
Show all 36 venues▾
Published base-tier rates from each venue's fee page. A negative maker fee is a rebate. Volume tiers, referral discounts and token holdings can lower what you pay.
Rating breakdown
Key features
RISEx review 2026
What RISEx is
RISEx is a perpetuals exchange with a fully on-chain central limit order book. Orders, matching and settlement run in the EVM on RISE Chain, the team's Ethereum L2. RISE markets this as CEX-like speed with on-chain execution.
The team measures throughput in "gigagas", or gas per second. It reports private-beta results above 50,000 TPS and order-book updates near one millisecond. We found no independent benchmark, so these remain team claims.
RISE raised a $3.2M seed in September 2024. Finality Capital led the round, with Vitalik Buterin and Aave's Stani Kulechov among the angels. Galaxy Ventures led about $4M of further funding in 2025. RISE then bought BSX Labs in November 2025.
BSX had reported more than $15B in cumulative volume. Its team included former staff from Coinbase, Kraken, Jump and FalconX. Gated mainnet trading began around May 2026.
Read this before depositing: no audit yet, and it is already live
As of July 2026, RISEx has no completed and published third-party security audit. Its FAQ says internal reviews are complete and external audits are in progress. It does not name a firm, scope or delivery date. DefiLlama also records no audit.
This matters because RISEx already holds real USDC on mainnet. The code that holds collateral and matches trades has not had a public independent review. Strong investors and an experienced team do not remove smart-contract risk.
This gap drives our 3.5/10 security score. Treat any deposit as risk capital. Use audited venues from our rankings for the core of a portfolio until reports are public.
Markets, leverage and the volume question
RISEx lists about 15 USDC-margined crypto perps. They include BTC, ETH, SOL, BNB, HYPE, XRP, TAO, ZEC, ONDO and NEAR. Spot is marked as coming soon. Market settings show up to 25x leverage on BTC and ETH. SOL, BNB and HYPE reach 20x. Smaller markets offer less. Several rivals offer 50x to 100x.
The volume needs context. At review time, DefiLlama showed about $69M of reported 24-hour volume, $87M normalized, and $1.1B over 30 days. This is real mainnet activity with real USDC collateral, not a testnet total.
However, trading is invite-only and the user base is small. RISEx also runs cash contests that reward platform volume. These campaigns directly encourage higher notional turnover. Open interest was about $16M to $18M, while TVL was near $10M.
The volume-to-OI ratio was close to 5x. Our conclusion is narrow: the activity and fees are real, but incentives may amplify the headline volume. It does not yet prove broad, open liquidity.
Fees: genuinely cheap
Tier 1 costs 0.03% taker and 0.01% maker. That is cheaper than most CEX base tiers and ranks among the lowest perp DEX fees. Similar rates may require VIP status at Gate.io or Bybit. Compare the full market in our fee calculator. The low base rate is a real benefit if you can get access.
Verdict
RISEx is a credible new on-chain order-book project. It combines low fees, an experienced acquired team and strong backers. Two limits block a broad recommendation: there is no published audit, and access remains gated. Incentives may also inflate volume on a small user base.
It may suit a small active position for users with access. It should not hold the core of a portfolio until audits are public and access is open.
Frequently asked questions
Is RISEx audited?
No — as of July 2026 there is no completed, published third-party audit.
RISEx says audits are "in progress" but names no firm, scope or date, and DefiLlama's own metadata records zero audits. Because RISEx is already live on mainnet holding real USDC collateral, this is the single most important risk to weigh before depositing.
Can anyone trade on RISEx?
Not yet.
Mainnet trading is gated/invite-only — you generally need an invite code to access the flagship app, and there is a waitlist referral leaderboard to earn priority. The market-data API is public, but the trading venue is not open to everyone.
What are RISEx's fees and leverage?
Standard Tier 1 fees are 0.03% taker and 0.01% maker (USDC-margined) — among the cheapest available at base tier.
Max leverage, read from its market config, is 25x on BTC and ETH, 20x on SOL/BNB/HYPE, and lower on smaller markets.
Is RISEx's trading volume real?
It is real mainnet volume (real USDC, tracked on the live contract), not testnet.
But it is likely amplified by cash-prize competitions that reward maximising "platform volume" on a small, invite-only user base — open interest is only a fraction of daily volume. Read it as genuine-but-incentivised activity, not broad organic liquidity.
Trade on RISEx
Sign up through our link for: Invite-priority referral (no standard fee-share confirmed).