BULK Trade: a Solana-adjacent perp execution layer logoBULK Trade: a Solana-adjacent perp execution layer
Docs at docs.bulk.trade. OpenAPI 3.0. Keep Backpack Exchange. Homepage claims 20ms BULKBFT blocks and up to 40x leverage.
devrels.xyz/a/326BULK Trade is a perpetual exchange with a specialized execution layer that runs natively alongside Solana. Docs call that layer an L0. Each BULK validator runs bulk-agave on the same machine as Agave, same identity keys. Solana keeps custody, deposits, and withdrawals. BULK does matching, BULKBFT ordering, and real-time risk.
The homepage states 20ms blocks, up to 40x leverage, and true portfolio margining. The intro doc targets 5-20ms matching inside a regional validator set. Backpack Exchange stays on its own API note.
API hosts
| Network | HTTP | WebSocket |
|---|---|---|
| Mainnet | https://mainnet-api1.bulk.trade/api/v1 | wss://mainnet-ws1.bulk.trade |
| Testnet | https://exchange-api.bulk.trade/api/v1 | wss://exchange-ws1.bulk.trade |
Three buckets: public market data, unsigned account queries, signed trading. Signed txs must use the matching signature domain. Faucet is testnet only. Official signer: bulk-keychain (Node, browser, Python, Rust).
curl https://mainnet-api1.bulk.trade/api/v1/exchangeInfoSigning
State changes go to POST /order. Ed25519 over the canonical wincode bytes (action list plus trailing nonce, account, and a one-byte network signature domain). JSON fields are base58. The signer field is not part of the signed bytes. Nonce is nanoseconds. Timestamps elsewhere are Unix milliseconds. Order IDs are deterministic. No client order ID required.
What else is in the docs
CLOB, maker 25ms taker speed bump, regime-aware risk, portfolio and isolated margin, sub-accounts, hourly funding, TP/SL and trailing, liquidations, ADL, builder codes, BIP-1 deployer-owned perps. Validators inherit Solana stake. Architecture says the initial cohort is about 5% of Solana stake across 20+ operators, and validators take 12.5% of exchange revenue.
Resources
Keep reading
Fees fund a public sub-wallet perp — not an idle curve vault. Founder ADP the Great; X @PerpsPadfun; API docs open.
One order ticket, multi-venue perps execution, optional lending boost, and a public Trading API — how Imperial’s router works for traders and integrators.
From crankless CLOB roots to a full perps terminal: how Phoenix matches, prices risk, exposes APIs, and pays builders via Flight.
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