Trade with deep liquidity & tight spreads.

Bullish leverages innovations of decentralized finance (DeFi) within a regulated framework so you can execute fast, reliable crypto trades with near-zero spreads, even in volatile markets.

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The Bullish Order Book

A unique source of deep liquidity.

The Bullish Order Book combines the high performance of a central limit order book (CLOB) with deep, deterministic liquidity from our automated market maker (AMM). This combined source of liquidity creates a more reliable order book for digital assets.


Central limit order book.

Consistent with other centralized exchanges across TradFi and digital assets, the Bullish Order Book allows customers to place conventional order types, such as market orders and limit orders.


Automated market maker.

Bullish’s proprietary AMM generates thousands of bids and offers using liquidity exclusively available on our platform. These bids and offers create greater depth across variable market conditions, making Bullish more reliable and efficient than other exchanges—centralized or decentralized.

Best execution with low-cost liquidity.

Best-in-class order matching engine.

Matching on a price (per tick) and time priority.

Fully automated execution—no manual intervention

Designed to minimize slippage with near-zero spreads.

No maker fees and 1 bps taker fees.*

*Fiat related swap markets incur zero fees.

Manage diverse trading strategies.

Multiple trading accounts can be set up under one institutional entity, each with separate users, balances, positions and permissions. Effectively manage risk by allowing traders to segregate funds across multiple trading strategies or digital assets.
Learn more

Gain access to a range of trading features by connecting to the Bullish API.

Trade with REST and FIX.

Place AMM Instructions with REST.

Monitor markets and private data with REST and Websocket.


Bullish is licensed by the Gibraltar Financial Services Commission (GFSC), which applies international regulatory standards and supervisory best-practices.


High-performance matching engine lets you trade with confidence in variable market conditions.


The security and integrity benefits of blockchain, combined with strong cryptographic safeguards and multi-factor authentication.

Start trading.

Trade crypto’s biggest assets on Bullish with near-zero spreads and low fees.