Bazaar is the first ever fully permissionless derivatives marketplace, where perpetual futures on almost any asset with an on-chain price feed can be traded by anyone, against anyone. Built on Arbitrum, Bazaar is immutable and unowned. A marketplace for everything can only stay neutral if no one can say no.
What makes Bazaar different
Orders are matched on-chain the moment they arrive. There's no hidden matching engine and no sequencer to trust — the contract decides who gets filled, and at what price.
Anyone can list a market, with no cap on how many. Stocks, crypto, commodities, FX — and the long-tail assets major perp exchanges skip. If it has an on-chain price feed, it can trade here.
In calm, healthy markets, makers and takers each pay just 0.5 bp — 50 cents on a $10,000 trade. Only taker fees rise, and only when a market turns risky.
Stocks and FX don't trade around the clock. Bazaar markets keep running through closures, and cash-settle cleanly after a merger, split, delisting or other major corporate action.
No company and no protocol-level sequencer stand between you and the market. Nobody can block your order, push it to the back of the line, or take the market offline.
No admin keys, no upgrades, no multisig. The code that's deployed is the protocol — forever.
No DAO, no token voting, no committees. It runs on math and incentives, not politics.
No committee or governance sets leverage or fees. Each market measures its own risk and adjusts its margin requirements, insurance threshold and fees automatically.
Every market has its own insurance fund to keep winning traders whole in extreme volatility. Independent insurers choose which markets to back, so losses in one market never spill into another.
List a market, run a bot, back the insurance fund, build a frontend. Every job the exchange needs is open to anyone, and each one is rewarded.
No account, no gas, no closing bell.
The contracts have no sign-up, KYC or region block — any wallet with USDC on Arbitrum can trade. Individual frontends and integrators may set their own rules.
Sign your trades and let a relayer submit them, so USDC is the only thing you ever need to trade.
Anyone can list, so long-tail assets the major perp exchanges skip get markets too — alongside stocks, FX and indices that trade around the clock.
Each market holds its own collateral, so a blowup in one can never touch your balance in another.
Six independent roles keep the protocol running. These roles are open to anyone. Everyone earns.
Build frontends, APIs, bots and tools on top of the protocol.
Propose any asset with a live price feed as a new market.
Deposit into a market's insurance fund and earn a share of its fees. In return you take the first loss when liquidations fall short.
Close out accounts that fall below their margin.
Run a bot that fires stop orders, sells off liquidated positions and keeps prices fresh.
When losses outgrow a market's insurance fund, auto-deleveraging closes the most profitable positions against them to keep the market solvent.
Where we are
Drop your email and we'll let you know when testnet is ready.