Extended Exchange review

Current documentation covers spot and perpetuals alongside markets linked to traditional assets. RWA exposure does not imply receiving ownership of the share, index or commodity. Inspect specification, currency, margin and reference before treating an underlying name as shorthand for the product. One contract’s terms do not establish an entire category’s conditions.

Market and limit orders are available for spot and perpetuals. A limit order can rest or execute immediately: maker and taker describe its role in the book, not two separate buttons. Post-only expresses an intention to supply liquidity and may prevent a crossing execution. Reduce-only is a perpetual instruction that prevents an intended close from increasing exposure.

Perpetual conditional orders can trigger from Mark, Index or Last. TWAP distributes execution over time, while scaled orders distribute prices. Neither guarantees improvement or removes market risk. Chase follows the book with a post-only limit; its automation depends on the browser session, and the last order may remain live when tracking pauses. Stopping tracking is not the same as cancelling the order.

Extended also has RFQ markets. Their displayed book is indicative, and user-submitted orders pay taker even when they wait before execution; a resting limit does not automatically become maker. Post-only and Chase do not carry over to that model. Check RFQ versus real order-book execution before interpreting depth, pricing and tools; the API distinguishes this with isRfq.

The published ordinary spot and perpetual schedule lists 0% maker and 0.025% taker. RWA markets currently have discounted 0.010% taker and 0% maker pricing. Do not apply the RWA rate to a crypto market or interpret it as removing all costs. Fees apply to executed notional, which can greatly exceed posted collateral on a leveraged perpetual.

For a hypothetical USD 10,000 notional, a 0.025% taker entry costs USD 2.50. Closing the same notional as taker adds another 2.50, totalling USD 5 before spread and funding. At the documented RWA 0.010% rate, the corresponding figures are USD 1 per side and USD 2 total. This is not an estimate of the entire cost of holding for a week.

Maker rebates depend on share of total maker volume over thirty days across spot and perpetuals. Shares of 0.5%, 1%, 2.5% and 5% qualify for 0.002%, 0.004%, 0.006% and 0.010% respectively. RWA rebates are 60% lower. Placing a maker order alone is insufficient: daily payment additionally requires at least USD 10 accrued over twenty-four hours.

Budget using ordinary product rates first, then spread, applicable funding and funding-route costs. Do not subtract a potential rebate without establishing eligibility. The total-cost guide and funding explanation help separate these components.

Extended migrated settlement from Starknet to Arc on 22 October 2026. Current documentation identifies native Arc USDC, wETH as the ETH representation and cirBTC instead of wBTC. New USDT and wBTC deposits were disabled; older instructions do not establish current collateral support. Protocol settlement on Arc does not mean every funding route must originate there.

The EVM flow supports asset-specific chain combinations, including documented USDC routes from Ethereum, Arbitrum and Base. Use the combination generated by your account and inspect destination, asset and estimate. Third-party routes can depend on liquidity and add external costs. Supported tokens do not automatically share every network, and approximate times are not guarantees.

Withdrawable funds also depend on margin needed by positions and orders. Partially closing exposure does not release all collateral. Before withdrawing, inspect positions, pending orders, available amount and receiving-wallet compatibility. Withdrawing to a wallet covers common checks without replacing product-specific instructions.

The architecture settles movements and trades through Arc contracts with account health checks. Onchain state can be verified, but contract, liquidation and access-path risks remain. Distinguish wallet funds from collateral committed to the protocol. Self-custody does not make open-position margin freely withdrawable at any time.

Limit approvals to what is needed, retain wallet access and inspect orders after disconnection. A forgotten resting limit can execute later. Check protective orders by trigger, size and position effect rather than merely seeing them in a list.

Hyperliquid offers an order-book and ecosystem reference, while Lighter requires account-specific pricing comparisons. For quote-based execution, Variational Omni costs explains why no trading fee does not mean no spread. Ostium is another traditional-market alternative, with opening and rollover costs rather than an assumed identical maker/taker budget.

Extended is more compelling as an execution tool than as a promise of free trading. Before a first order, identify spot or perpetual, inspect market and fee category, fund a supported route and review a controlled execution. For longer exposure, include funding and margin. Budget ordinary maker at 0% and only include rebates when your volume actually qualifies.