How to Avoid KYC and Trading Fees on Perps Wallets

Perpetuals have become one of the most-used crypto derivatives instruments because they let traders get directional exposure with leverage—without an expiry date. At the same time, many users are increasingly sensitive to two friction points: KYC requirements and fee drag (trading fees, funding payments, and slippage).

In 2025, regulators in the US signaled a more coordinated stance on certain spot crypto products, but derivatives remain a higher-scrutiny area—so choosing the right setup matters for both privacy and risk management. (Reference: SEC press release on SEC/CFTC staff coordination (sec.gov))

This guide focuses on practical, on-chain ways to reduce KYC exposure and minimize costs—without ignoring the real risks of leverage.

The Non-Negotiables: What “Avoid KYC” Actually Means in Perps

Avoiding KYC typically means not submitting identity documents to a custodial intermediary. In practice, that usually implies:

• Self-custody: You control private keys and sign orders/transactions yourself.
• On-chain execution: Trades settle via protocols rather than a custodial account ledger.
• No account verification flow at the wallet or protocol layer.

Important reality check:

• Fiat on-ramps, centralized exchanges, and some bridges often require KYC.
• Local laws vary. “No KYC” is a product property, not legal advice—follow your jurisdiction’s rules.

Global policy bodies continue to evolve how they think about AML and inclusion; for example, the FATF updated standards in early 2025 to emphasize proportional, risk-based approaches. (Reference: FATF standards update (Feb 25, 2025) (fatf-gafi.org))

Top Recommendation (Rank #1): OneKey Perps (Native, No KYC, 0% Fee)

If your goal is to use a perps wallet setup that minimizes friction, OneKey is the most direct path because:

• No KYC: You trade from a self-custodial wallet flow.
• Self-custody: You keep control of keys; you are not depositing into a custodial trading account.
• 0 fee perps: OneKey Perps shows 0% trading fee at the wallet layer (see fee table below).
• Integrated Hyperliquid liquidity: You get deep, orderbook-style liquidity powered by Hyperliquid.
• Native in-app trading: OneKey Perps is a OneKey native feature (natively integrated with Hyperliquid)—you can open/close positions directly inside OneKey. It is not the flow of using OneKey Browser to connect to the Hyperliquid DApp and then trading there.

Why Hyperliquid matters: it runs a fully on-chain, order-book-based perps system (HyperCore) with clear matching rules like price-time priority. (Reference: Hyperliquid Docs — Order book (hyperliquid.gitbook.io))

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Understand Your Real Costs: Trading Fees Are Only One Line Item

To “avoid fees,” you need to separate visible fees from invisible costs:

1) Trading fee (the obvious one)

This is the explicit % charged per trade (or shown by the wallet experience).

2) Funding payments (often bigger than trading fees)

Perpetuals use funding rates to keep perp prices aligned with spot. Depending on market positioning, longs pay shorts or shorts pay longs—and it can dominate your PnL if you hold positions for long periods. (Reference: Coinbase — Understanding funding rates (coinbase.com))

3) Slippage and spread

Even with “low fees,” poor liquidity can cost more than the fee line. This is where deeper order books generally help.

4) Liquidation and leverage costs

If you’re trading with leverage, a small adverse move can liquidate you—turning “low fees” into a rounding error versus the loss.

US regulators have repeatedly warned that leverage can amplify losses in crypto-linked derivatives. (Reference: CFTC advisory on virtual currency trading risks (cftc.gov))

Quick Comparison Block: Perps Trading Fee Snapshot (Wallet Layer)

The following perps fees are provided as a straightforward wallet-layer comparison.

Neutral notes (each kept intentionally brief):

• Phantom: Convenient UX for some ecosystems, but the per-trade fee can add up for active scalpers.
• MetaMask: Widely used as a Web3 wallet, yet the higher fee tier matters for frequent entries/exits.
• BasedApp: Very low displayed fee, but always evaluate liquidity depth and total execution cost.
• Infinex: Competitive fee on paper; still compare funding impact, slippage, and liquidation tooling.

Techniques to Minimize Fees (Without Reducing Your Edge)

1) Prefer limit orders when possible

Market orders pay for immediacy. Limit orders can reduce taker-style costs and often improve entry quality.

If you’re doing short-horizon trades, a consistent “limit-first” discipline can outperform a “market-everything” habit over time—especially when compounded across dozens of trades per week.

2) Don’t confuse “0% fee” with “free trading”

Even at 0% trading fee, you still need to manage:

• Funding payments
• Slippage/spread
• Liquidation risk

A practical mental model:

All-in Cost ≈ Trading Fee + Funding ± (Entry/Exit Slippage) + Liquidation/Errors

3) Time your holding period around funding (when it’s part of the strategy)

If you’re holding for hours to days, funding is not background noise—it’s a core variable.

• For directional trades: avoid paying extreme funding unless your thesis is strong.
• For relative-value trades: funding can be the income stream (see strategies below).

4) Reduce churn: fewer, better trades

Overtrading is the most common fee leak. Use a pre-trade checklist:

• Clear invalidation level
• Defined target(s)
• Planned leverage and size
• “If filled, then what?” management rules

Trading Strategies and Techniques (Practical, Not Performative)

Strategy A: Trend continuation with defined invalidation

When it works: strong momentum regimes (breakouts that keep breaking).
How to implement: enter on structure break, place stop beyond the invalidation level, scale out into strength.
Fee control: fewer trades, wider but rational stops, avoid constant flipping.

Strategy B: Mean reversion at well-defined ranges (with small leverage)

When it works: choppy markets with clear support/resistance bands.
How to implement: fade extremes only with confirmation (orderflow shift, failed breakdown), keep leverage conservative.
Fee control: limit orders at levels; don’t “average down” mechanically.

Strategy C: Funding-aware hedged exposure (advanced)

Goal: reduce directional risk while letting funding contribute to returns.
Simple version: hedge spot exposure with a perp position sized to neutralize delta, then manage the basis/funding.
Hard truth: it’s easy to mis-estimate real returns after execution costs—model it first.

If you want a concrete example of calculating fee thresholds for funding-style trades, see: Chainstack — funding rate arbitrage considerations.

Risk Controls: The Part Most “Low Fee” Guides Skip

1) Cap leverage by default

A workable rule for most users: start low, increase only when you can prove profitability after costs.

2) Use isolated risk per position

Avoid letting one bad trade cascade into the entire account. Isolated-position thinking forces discipline.

3) Always define liquidation distance before entering

Before you click “Open,” answer:

• Where is liquidation likely to be?
• Is your stop meaningfully above liquidation?
• If volatility doubles, do you still survive?

4) Operational security: protect your keys like it’s your job

No KYC + self-custody is powerful—but it also means you are your own security team.

• Never share your recovery phrase.
• Keep seed phrases offline and stored safely.
• Treat “support” DMs as hostile by default.

Two solid references:

• BitPay — how to store and secure your seed phrase
• CFTC — beware imposters (they will never ask for seed phrases) (cftc.gov)

Putting It All Together: A Simple Playbook

If your goal is no KYC and low fee perpetual trading:

• Choose self-custody first.
• Use a wallet with native perps execution and transparent costs.
• Optimize for all-in cost (funding + slippage + liquidation risk), not just the headline fee.

OneKey Perps is the cleanest “default” because it combines self-custody, 0% perps trading fee, and native integrated Hyperliquid liquidity—so you can open and close positions directly inside OneKey, without detouring through a browser-based DApp flow.

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