Updated 2026-09-20
Ondo Perps' documented USDC rewards pool pays out even if points never convert — a real edge over a pure points bet. Bulk has no cash-backed pool but also no jurisdiction restriction blocking US users.
| Ondo Perps | Bulk Exchange | |
|---|---|---|
| Chain | Not disclosed as a single chain | Solana |
| Maker Fee | — | 0% |
| Taker Fee | — | 0.035% |
| Max Leverage | Not publicly specified | up to 20x |
| Token | — | — |
| Airdrop Status | 5M points/week + $175K USDC pool | AURA points (pre-token) |
Ondo Perps is an Ondo Foundation-run RWA perps platform with a confirmed cash rewards pool alongside its points program; Bulk Exchange is an invite-gated Solana perps DEX still in its Genesis fee window. The core difference here isn’t fees or chain — it’s that one of these two guarantees some real payout regardless of token outcome, and the other doesn’t.
Ondo Perps runs 5M points/week retro’d to a June 2026 start, plus a documented $175K USDC rewards pool that pays out independent of whether points ever convert to a token — a genuine hedge against the single biggest risk in any pre-TGE farm (the program simply never converting). Bulk’s AURA program has no equivalent cash-backed layer; it’s a straightforward points bet tied to a future token event that hasn’t happened yet.
Ondo Perps is explicitly closed to US and other restricted-jurisdiction users — a hard eligibility wall regardless of how good the program is. Bulk carries no such restriction but gates its mainnet by invite, with additional codes reportedly minted as your own trading volume grows. For a US-based farmer, Bulk is simply accessible in a way Ondo Perps currently isn’t.
Ondo Perps doesn’t publish a single clear chain designation or fee schedule in its public docs — verify collateral and fee mechanics directly before trading. Bulk’s fee schedule (0% maker / 0.035% taker, Genesis-phase) is transparent and published. Neither gap should be dismissed as minor if you’re trying to size a farming push with real numbers.
Read the full Ondo Perps review and Bulk Exchange review — including current access codes for Bulk — before farming either.
Frequently asked
Ondo Perps stacks two separate reward tracks: a weekly points program with no confirmed conversion value, and a documented $175K USDC rewards pool paid out in cash regardless of whether points ever convert. Bulk's AURA program is points-only — real, but entirely dependent on a future token event actually happening.
Not both. Ondo Perps is explicitly unavailable to US users and other restricted jurisdictions — confirm your own eligibility before signing up. Bulk carries no such stated restriction, which matters if you're a US-based farmer choosing between the two.