Routing across venues

Split compares its own markets with Paradex and Derive for the same view and shows where your stake gets the most back.

How the best route is picked

1. Every venue is priced at your stake, including fees.
2. Only like-for-like routes compete: same expiry (within a minute) and the same target or band (within 0.5%).
3. The highest payout wins. Within 0.1%, the order is Split, then Paradex, then Derive.
4. If the best venue isn't funded, the funded venue with the highest payout is the default.
5. The default only switches when another venue pays at least 3% more. A venue you picked yourself stays picked.

The winning card is marked Best. Others show how much less they pay.

Firm and estimated prices

Label	Source	Fillable as shown
firm	A maker's quote from an RFQ, with a seconds countdown	Yes, until it expires
est.	The venue's mark or book, with no crossing quote	No. The fill price comes from makers when you request a quote.

Split prices are signed by Split's pricer and fill as shown until they expire.

Fees

Venue	Taker fee on options
Split	None
Paradex (through Split)	None
Derive	3 bp of notional, capped at 12.5% of premium, plus $0.50 per order

Fees are read from each venue. An unreadable fee is never shown as zero.

Venue accounts

• Paradex: Sign, Activate, Fund, Trade. Book orders have a $20 minimum (size times mark). Quote requests have no minimum.
• Derive: Account, Fund, Authorize, Trade. Deposits from Ethereum, Base or Arbitrum. If you have several subaccounts, the ticket trades from your saved pick, or the funded one with the most USDC.

On multi-leg routes each leg fills as a separate order on its venue. The Options desk shows "Routing saves $X against the best single venue" when splitting legs across venues pays more.

Fills ledger

Every Paradex and Derive fill made through Split is recorded against its exact venue order, trade or RFQ id. You see them in Portfolio > Fills and in the History tab on Up/Down and Compose. The same ledger feeds Live and the leaderboard.