Velo

What it is

A crypto derivatives terminal — a TradingView chart, a coin table, funding and liquidation heatmaps, a news feed and an order ticket — with a cross-venue futures dataset underneath it and an API onto that dataset sold in the same subscription. You sit in front of it. That is what puts it in this category rather than next to the data vendors it is often filed with.

The data list and the execution list are not the same list. Velo charts and aggregates Binance, Bybit, OKX, Deribit, Hyperliquid and Coinbase. It places orders on two of them: Bybit and Hyperliquid. Everything else on the screen is something to look at. If your flow sits on OKX or Deribit, Velo is a research screen for you and not a terminal.

Your keys stay on your machine. The terms state that the web app saves exchange API keys on your device only. That is the safer half of the trade-off the category is built on, and it comes with the usual cost — nothing works while the tab is shut, and a second computer means connecting again from scratch. The Hyperliquid connection is not an API key at all but a Hyperliquid API wallet — you generate an agent wallet on Hyperliquid with an expiry of at most 180 days, authorise it from the main wallet, and hand Velo the agent wallet's private key plus the master account address. That wallet can trade and cannot move funds.

The thing the data half aggregates is futures market microstructure — open interest, funding rates, liquidations, cumulative volume delta, basis and options implied volatility, each broken down by the venue it came from rather than merged into a single number. That breakdown is the product: "open interest went up" becomes "open interest went up on Bybit while Binance was flat", which is a different and more useful sentence.

Be clear about what you are buying, because one subscription covers both halves. A buyer who only wants the API is also paying for the terminal, the alerts and the news feed; a buyer who only wants the terminal is paying for an API they may never call.

Pricing

Read the toggle before you read the number. The pricing page opens on yearly billing, so the first price it shows is a discounted one. Month to month, News is 149 USD and Premium is 199 USD. Billed yearly, News drops to 129 and Premium stays at 199.

Trading costs one basis point more than the exchange, on Hyperliquid. The terms of service say it in a single sentence — Hyperliquid trades placed through Velo carry a builder fee of 0.01%, one basis point, on top of Hyperliquid's own fees. It is not optional and it is not a line on the pricing page. Nothing equivalent is stated for Bybit anywhere in the terms or the docs. On a quarter of a million dollars of monthly Hyperliquid turnover that basis point is 25 USD, which is worth putting next to the 199.

The billing period changes what you get, not just what you pay. Premium's headline feature is "five-plus years of one-minute resolution data" — on yearly billing. Pay monthly and the same tier gives you three months of history. The vendor states this plainly in its API docs and renders it correctly on the pricing page, but it is easy to read the yearly card and pay the monthly price.

News at 149 is not a cheap way in. It buys the news feed in the app, on Telegram and over the API, and nothing else. Market data, the SDKs and MCP are Premium.

Basic is free and is more than a teaser. It is the vendor's name for an account with no subscription, and the only feature list published for it is the phrase "basic functionality". In practice the futures, options, market and chart pages render live data with no account at all — exchange-broken-down open interest, funding, liquidations, CVD and basis with a week of history. What Basic withholds is not documented, and neither is whether order entry is inside it, so treat the free tier as generous and unspecified rather than as a defined plan.

There is a usage-based tier at two cents an API call, billed weekly against a spend limit you control. It does not appear on the pricing page unless the URL carries usage_pricing=true, which makes it a real price that almost nobody will find. If your usage is bursty, it is worth asking about.

Trials exist but have no published length — the API docs tell you to email support and ask. Payment is by card, or in crypto, and paying in crypto forces the yearly plan.

Data & coverage

Velo publishes its product catalogue on unauthenticated endpoints, so the coverage numbers can be checked rather than taken on trust. Counted on 19 September 2026:

Futures: 1,763 products across 836 coins. Bybit 759, Binance USDT-margined 717, OKX swaps 166, Hyperliquid 113, plus two coin-margined products each on Binance, Bybit, OKX and Deribit. Spot: 1,075 products across 513 coins — Binance 374, Bybit 328, OKX 211, Coinbase 162. Options: two products, BTC and ETH, on Deribit.

The oldest catalogue entries start on 1 January 2021 for the majors on Binance, Bybit, OKX, Deribit and Coinbase. Hyperliquid BTC starts 11 June 2024, and OKX and Bybit spot BTC only from September 2024, so "five-plus years" is a statement about the oldest series and not about the venue you may actually care about.

Resolution is one minute, and the API takes any multiple of sixty minutes beyond its listed intervals. Funding rates are normalised to a per-eight-hour figure across venues, which is the normalisation that matters most and the one competing products most often skip.

The options side is Deribit's shape, not a synthesis: DVOL as the volatility index, the Deribit perpetual mark as the price overlay, Black-Scholes greeks, ATM implied volatility and 25-delta skew interpolated to fixed 1-week, 1-month, 3-month and 6-month tenors. Realised volatility is BTC and ETH only.

There is a TradFi page covering CME Bitcoin futures and options and the Grayscale trust premium. It is daily, not live — the vendor says CME data "will typically update as we receive it each day around 10:30pm ET", and the Grayscale premium updates next morning Eastern.

Integrations

Exchanges. Bybit by API key, Hyperliquid by agent wallet. Beyond order entry, the Hyperliquid side carries a borrow-and-lend panel over three HyperEVM lending markets — Felix, which is a deployment of Morpho Blue; Hyperlend, which is a fork of Aave v3; and Hyperdrive, whose contracts the docs note are not open source. The panel is an interface onto each protocol's own contracts signed from your wallet, so the liquidation rules are the protocols' rather than Velo's, and the health-factor thresholds differ between them — 1.0 on Felix and Hyperlend, 100.0 on Hyperdrive.

Data. The API is a small, flat HTTP surface: one rows endpoint that returns CSV, plus options term structure, market caps, order-book levels, news over HTTP and news over a websocket. Auth is HTTP basic with api as the username and your key as the password. Rate limit is 120 requests per 30 seconds and a single request returns at most 22,500 values, which is why the SDKs batch for you. First-party SDKs in TypeScript, Python and Node.js, all documented with their own reference pages.

There is an MCP server at velo.xyz/api/mcp, authenticated with the same API key as a bearer token, with install lines published for Codex, Claude Code and OpenCode. It exposes six read-only tools covering market data, product search, order-book depth, order-book product search, market caps and news — read-only, so nothing in it places an order. Because it uses the API key, it is Premium-only.

Alerts fire on price, volume, liquidations or open interest and land either in the app or through a Telegram bot. The news feed reaches you four ways — chart toasts, a news page, a Telegram channel and the API.

Limitations

Order entry is two venues out of six. Bybit and Hyperliquid. Velo shows you Binance, OKX, Deribit and Coinbase and cannot trade any of them. For a terminal, that is the first number to check, and the reason to read this card next to a product like Tealstreet, which places orders on twenty-odd venues and aggregates nothing.

One basis point on Hyperliquid, by default. Documented, small, and still a cost above the subscription that the pricing page does not mention.

Keys on the device cut both ways. Nothing runs while the browser is closed, and there is no server-side routing option to opt into. A terminal you cannot leave working is a constraint on anything other than discretionary trading.

Historical order-book depth exists for 32 products out of 1,763. That is the single most important number on the data half of this card. The depth flag is set on twelve Hyperliquid products, eight on Bybit, eight on Binance and four on OKX, covering BTC, ETH, SOL, XRP, HYPE and a handful of Hyperliquid-listed non-crypto perps. Everything else in the catalogue has no depth history at any price.

Options are Deribit BTC and ETH, full stop. No other venue, no other underlying. For a product that puts options on its front page, the coverage is two instruments.

The three-month annualised basis column is BTC and ETH only, has to be requested alone with no other columns, and has to be asked for by coin rather than by product. It is the most cited number in the whole dataset and the most restricted one in the API.

Several large venues are simply absent. No Kraken, no Bitget, no MEXC, no Gate, no Upbit, no Kucoin. If your flow lives on any of those, the aggregate is not an aggregate for you.

Redistribution is barred by default. The terms say your key, the data, derived data and news are for your own use only, and that multi-seat or non-internal use needs a conversation with sales. Derived data being named explicitly is stricter than most terms in this category — a chart you publish from Velo numbers is covered by that sentence.

Three IPs will lock you out. If more than three addresses use the same account or key within five minutes, the terms say only one may be allowed access. That is a hard constraint on anything running in more than a couple of containers, and it is not a limit you can buy your way past on a personal plan.

Monthly billing is a three-month archive. Worth repeating because it is priced to look like a convenience and behaves like a different product.

Alternatives

If the execution list is what fails you, Tealstreet is the other end of the same category — free, twenty-odd venues, and nothing aggregated across them.

If the data is what you came for and the order ticket is incidental, the comparison is with the derivatives-data vendors rather than with terminals: Coinglass for the same funding, open-interest and liquidation series across a wider venue list, and Laevitas for options coverage that goes beyond two Deribit instruments. Both sit in market data, which is where this card used to live.

And if what you actually want is the tape rather than the cross-venue aggregate, the order-flow desktops are a different shelf inside the same category: Bookmap for the heatmap and the book replayed tick by tick, ATAS for footprint and cluster analysis. Neither aggregates venues the way this does; both show you far more about one of them.