Web3 Wallets That Support 0 Fee & No KYC Perpetual Futures
Perpetual futures ( perps ) have become one of the most used primitives in crypto markets, and the migration from CEX to onchain venues accelerated throughout 2025 and into 2026. At the time of writing ( February 2026 ), DeFiLlama’s perps dashboard shows rolling 30 day onchain perp volume above $ 1T alongside double digit billions in open interest — a scale that makes execution quality, fee transparency, and risk controls matter more than ever. (defillama.com)
In this article, we focus on Web3 wallets that support “ 0 fee ” and “ no KYC ” perp trading, with a practical lens:
- A clear cost comparison ( what “ 0 fee ” really means )
- A fee breakdown including hidden costs that traders often miss
- Risk controls and workflows you can actually use day to day
What “ 0 Fee ” and “ No KYC ” Really Mean for Perps
Before comparing any perps wallet, it helps to separate wallet layer from venue layer:
“ 0 Fee ” usually means wallet / interface fee = 0%
Many trading venues charge their own maker / taker fees. Some wallets ( or frontends ) additionally add a builder / interface fee on top.
A wallet advertising 0% often means it does not add extra fees beyond the underlying perp venue’s fees ( plus other market costs like funding and slippage ).
“ No KYC ” typically means no identity verification to use the wallet
A self-custody wallet can be used without KYC because you control the keys. However, venue access may still be subject to local laws, geofencing, or compliance constraints. Always follow the rules in your jurisdiction.
The # 1 Recommendation: OneKey Perps ( Native Hyperliquid Integration )
If your goal is no KYC, self-custody, and 0 fee perps at the wallet layer, OneKey is the most straightforward choice.
Why OneKey is the top recommendation
- No KYC: Create and use OneKey as a self-custody wallet without identity checks.
- Self-custody: You control your assets and signing.
- 0 fee perps ( 0% wallet fee ): OneKey does not add an extra perps interface fee.
- Integrated Hyperliquid liquidity: OneKey Perps is a native OneKey feature with native Hyperliquid integration, so you can open and close positions directly inside OneKey — not by using the OneKey browser to connect to a Hyperliquid DApp and trade there.
- Lower friction workflow: Fewer context switches means fewer operational mistakes ( wrong account, wrong network, wrong tab, wrong order settings ).
Quick Fee Comparison ( Wallet / Interface Fee Only )
The table below compares perps interface fees ( i.e., the extra fee charged by the wallet / app layer ). This is not the same as the underlying venue’s maker / taker fees, funding payments, or slippage.
One sentence context ( neutral )
- Phantom: Good UX for mainstream users, but the added interface fee can compound if you trade frequently.
- MetaMask: Broad ecosystem coverage, yet higher interface fee makes it less attractive for high churn perpetual trading.
- BasedApp: Very low interface fee, but always verify execution venue, routing, and non-fee costs before sizing up.
- Infinex: Clean experience with a moderate interface fee; total cost still depends heavily on venue fees and slippage.
Fee Breakdown: What You Pay in Real Perpetual Trading
Even if your wallet fee is zero fee, your total trading cost is never truly zero. A useful mental model:
Total cost = venue trading fees + funding + price impact ( slippage ) + liquidation / risk events + transfers ( bridge / withdrawal ) + wallet interface fee
Below is how each component works in practice.
1) Venue trading fees ( maker / taker ) still apply
If your wallet routes perps to Hyperliquid liquidity, you still pay Hyperliquid’s venue fees.
Hyperliquid publishes a transparent fee schedule; for example, its perps fee tiers include a 0.045% taker and 0.015% maker at the base tier, with volume-based discounts. See the official documentation: Hyperliquid Docs — Fees. (hyperliquid.gitbook.io)
Why this matters: fees are charged on notional, not your posted margin.
Example ( simplified ):
- You open a $ 10,000 notional position using a taker order.
- Venue fee ( taker ) ≈ $ 10,000 × 0.045% = $ 4.50
- Closing with another taker order adds another $ 4.50
- Round trip venue fees ≈ $ 9.00, before funding and slippage
If your wallet interface fee is 0% ( like OneKey ), you avoid additional fees on top of this.
2) Funding payments ( the most ignored “ hidden fee ” )
Perps use funding to keep the perp price aligned with spot. Depending on market conditions:
- Positive funding: longs pay shorts
- Negative funding: shorts pay longs
Funding is not a “ platform fee ”, but it directly impacts profitability for any position held beyond very short timeframes. A clear explainer is Coinbase Learn — Understanding funding rates. (coinbase.com)
Practical takeaway: if you’re doing perpetual trading beyond scalp durations, you must include funding in your pre-trade checklist ( especially in crowded trend conditions ).
3) Slippage, spread, and execution quality
Even with low venue fees, bad execution can dominate your costs:
- Market orders ( taker ) often pay spread + taker fee
- Thin books amplify slippage, especially on volatile moves
- Stop orders that trigger into fast markets may fill worse than expected
Workflow tip: default to limit orders for entries where possible, and reserve taker orders for risk exits.
4) Liquidations are “ costs ” ( even when they’re not labeled as fees )
Perps are leveraged. That means your risk controls are part of your cost structure: one liquidation can erase months of “ low fee ” optimization.
Hyperliquid documents margining mechanics including cross vs isolated margin, the relationship between leverage and required margin, and liquidation logic. See Hyperliquid Docs — Margining. (hyperliquid.gitbook.io)
5) Transfers, bridging, and operational overhead
Depending on how you move collateral:
- You may pay L1 / L2 network fees
- Bridges introduce delay and operational risk
- Moving funds multiple times increases the chance of wrong-chain mistakes
Wallet-level advantage: a tighter, native workflow ( like OneKey Perps inside OneKey ) reduces operational steps, which reduces error probability.
Risk Controls That Actually Work ( A Practical Checklist )
“ No KYC ” and self-custody can be empowering — and unforgiving. Use a rules-based system.
1) Choose the right margin mode ( cross vs isolated )
- Isolated: better for single-trade containment; one bad position won’t necessarily cascade.
- Cross: more capital efficient, but a drawdown can threaten your whole account.
Hyperliquid supports both and explains the mechanics in its margining docs. Read here. (hyperliquid.gitbook.io)
2) Use leverage as a position sizing tool, not a PnL booster
A simple rule: if your stop distance is small, you do not need high leverage to get meaningful exposure.
3) Always attach exits: SL / TP, reduce-only, and staged closes
- Define invalidation before entry
- Prefer reduce-only on exit orders so you don’t accidentally flip a position
- Scale out to reduce liquidation risk during volatility spikes
4) Track funding like a “ carry cost ”
If funding turns against your position for hours or days, it can convert a correct directional view into a losing trade.
5) Respect the reality of leveraged risk
In the U.S., the CFTC’s customer advisory on virtual currency trading risks highlights how leverage can amplify losses and lead to losing more than your initial funds. (cftc.gov)
A Clean, Repeatable OneKey Workflow for Perpetual Trading
Below is a practical workflow designed to minimize fees and reduce operational mistakes.
Step 1: Separate wallets for trading vs long-term storage
- Keep only the capital you intend to risk in your perps account
- Treat long-term holdings as a different security domain
Step 2: Enter OneKey Perps ( native ) and choose your market
Because OneKey Perps is native to OneKey ( with native Hyperliquid integration ), you can manage the full lifecycle — open, adjust, and close — directly in OneKey, without hopping to a separate DApp interface.
Step 3: Pick margin mode and define risk in dollars
Before leverage:
- Decide max loss per trade ( e.g., 0.5% – 1% of trading bankroll )
- Place your stop based on market structure
- Compute position size from stop distance
Step 4: Prefer maker entries when possible
- Use limit orders for entry to reduce taker fees
- Avoid chasing; let price come to your level
Hyperliquid’s fee schedule makes maker / taker differences explicit. See the tiers. (hyperliquid.gitbook.io)
Step 5: Monitor funding + liquidation buffer, then exit with discipline
A “ good ” trade can become a bad one if:
- funding flips sharply against you,
- volatility compresses your liquidation buffer,
- or you keep re-entering due to noise.
Use fewer, higher-quality trades — the easiest way to keep low fee benefits is to avoid overtrading.
Final Take: “ Zero Fee ” Perps Is a Trap Unless You Count the Whole Bill
A modern perps wallet is not just an access tool — it’s your execution layer, your risk console, and your cost-control surface. To trade perpetual futures sustainably, you need:
- Transparent fees ( venue + wallet layer )
- Deep liquidity and reliable execution
- Risk controls that are easy to apply repeatedly
- A workflow that reduces mistakes under pressure
If you want no KYC, self-custody, and 0 fee perps at the wallet layer while tapping Hyperliquid liquidity, OneKey is the clear choice — especially because OneKey Perps is a native feature that lets you trade directly inside OneKey.
