Perps
Kodiak's Perps DEX (Berps)
Kodiak Perps is a decentralized Perpetuals trading platform. Users can trade popular crypto tokens with up to 100x leverage.
Based on the user's preference for Berachain memes, Kodiak Perps can be accessed on:
Kodiak Perps are directly plugged into Orderly Network’s decentralized, permissionless liquidity layer with unified liquidity and market makers. Currently, there is >$50M of Open Interest, >$50M TVL, and >$500M of daily trading volume running through this unified liquidity layer. Learn more about Orderly Network here: https://orderly.network/
Kodiak serves the role of a “Broker” in onboarding users to Kodiak Perps and driving incentive campaigns. Users onboarded from Berachain immediately trade against users from all other chains, liquidity vaults, and market makers. Users on Kodiak Perps can immediately trade against perps users on Raydium, Quickswap, WooFi, Aden, and other leading perps dexes, while depositing and withdrawing on Berachain.
Signup and Deposits
Users can sign-up with their existing Web3 wallets. Deposits are accepted in USDC. Users can deposit from any supported chain (Berachain, Ethereum, ETH L2s, and Solana). Deposits typically stay on the chain of deposit and get reflected as margin in the perps dex.
Trading is authenticated with via the user's Web3 wallet. Once authenticated, all future actions are "one-click" and don't require signing each transaction for the currently live session. It's a similar experience to trading on Hyperliquid.
Accounts
Each user is assigned an account tied to their Web3 wallet. Users can also create sub-accounts.
Withdrawals
Users can withdraw USDC on any supported chain. In most cases, withdrawals are fulfilled within 1-2 minutes; however, depending on available liquidity on a given chain, it might be delayed. In this case, users can withdraw instantly on a different chain. There is a small withdrawal fee (1 USDC) to cover bridge and gas costs.
Trading
Contract specs, leverage, funding, etc are pretty standard and similar to most other perp dexes or CEX. Funding rates are charged every 8h for most markets, and 1h or 4h for others.
Details on mechanics can be seen within the Orderly Docs: https://orderly.network/docs/introduction/trade-on-orderly/perpetual-futures/margin-leverage-and-pnl
Trading Fees
Maker: 0.02% Taker: 0.055% Referral and volume based discounts may apply.
BGT Rewards As of Oct 2025, 100% of all net fees earned by Kodiak (after paying referral discounts, volume based discounts, and platform and infrastructure fees) - will be used to incentivize a Kodiak Perps related BGT reward vault, and BGT earned will be used for Kodiak Perps growth. Details of this reward vault is posted in this governance proposal: https://hub.forum.berachain.com/t/reward-vault-request-for-kodiak-reserve-for-incentives-and-market-expansion/1466.
ORDER Rewards
There may be ongoing programs to earn $ORDER tokens based on trading volume, in addition to BGT rewards or other incentives. If there are such programs, it would apply to all Perps DEX by Orderly Network Builders, such as Kodiak Perps. Referrals
Users can create their own referral codes after they've done $100k in trading volume. We also have an affiliate program, please fill out the feedback form to apply.
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