Order-book DEX combining perpetuals and on-chain options
Last updated: July 2026
Aevo is a high-performance decentralized derivatives exchange (from the Ribbon Finance team) notable for offering both perpetual futures and on-chain options in one venue — a rarer combination, since options are much harder to build on-chain than perps. It runs on a custom EVM rollup (the Aevo L2) with an off-chain order book and on-chain settlement, delivering CEX-like speed while keeping custody on-chain. Its options product is a genuine differentiator: traders can build sophisticated strategies combining perps and options (hedging, volatility trading, structured positions) that pure-perp venues can't support, and Aevo has integrated structured products and pre-launch/pre-market futures. It has an AEVO token. The trade-offs: the off-chain order book relies on Aevo's sequencer (the usual performance-vs-decentralization trade), options liquidity is inherently thinner and more complex than perps (options are a harder market to bootstrap), and its overall volume trails the perp-only leaders. But for traders who want on-chain options alongside perpetuals — enabling volatility trading and sophisticated multi-instrument strategies that most DeFi venues can't offer — Aevo is one of the few and best decentralized options-and-perps platforms, filling a genuine gap for derivatives traders who need more than just perps.
Aevo offers a free plan.
Aevo
Free
| Feature | Aevo |
|---|---|
| Max Leverage | Up to 20x |
| Settlement Model | Off-chain OB + on-chain settlement (Aevo L2) |
| Oracle Type | Order book + oracle |
| Funding Rates | ✓ |
| Cross Margin | ✓ |
| Isolated Margin | ✓ |
| Liquidity Provider Yield | ✗ |
| Governance Token | ✓ |
| Multi Chain | ✗ |
| Self Custody | ✓ |
Yes, Aevo has a free plan.
Aevo is used for order-book dex combining perpetuals and on-chain options. It's primarily used by Web3 teams in the Perp DEXs category.
See our full alternatives comparison at https://chainpick.io/alternatives/aevo.
Aevo has a rating of 4.1/5 based on 112 reviews. Key strength: Rare on-chain options alongside perpetuals. Main limitation: Relies on Aevo's sequencer.