Deposit & Withdrawals
Katana Perps is a non-custodial exchange. Your funds are held by a smart contract on the Katana blockchain, not by the exchange itself. Depositing funds moves them into the smart contract's escrow; withdrawing returns them to your wallet. At no point does Katana Perps take custody of your assets.
Deposits
To begin trading, deposit USDC into the Katana Perps smart contract on the Katana blockchain. Once deposited, funds are available for trading immediately.
The deposit process works as follows:
Deposits are standard on-chain transactions — you pay the normal Katana blockchain gas fee for the transfer, just as you would for any token transfer.
Withdrawals
Withdrawals return USDC from the Katana Perps smart contract to your wallet. Unlike deposits, withdrawals are initiated through the exchange interface or REST API rather than directly on-chain. Katana Perps dispatches the withdrawal transaction on your behalf.
Key details:
Available collateral — You can only withdraw funds up to your available collateral (equity minus initial margin requirements minus held collateral from open orders). You cannot withdraw funds that are required to maintain your open positions.
Withdrawal fees — A small fee is collected to cover the gas cost of the withdrawal transaction. The current fee can be queried via the API's Get Gas Fees endpoint.
Maximum fee authorization — When submitting a withdrawal request, you authorize a maximum fee to protect against gas rate fluctuations. The actual fee deducted will not exceed this amount. Withdrawal fees are deducted from the withdrawn quantity.
Withdraw minimum — There is a $1 withdrawal minimum.
Wallet Exit
Katana Perps includes a special smart contract function called wallet exit that guarantees users can always recover their funds, even if the off-chain exchange infrastructure becomes unavailable.
The wallet exit function can be called directly on the smart contract. It bypasses the exchange's off-chain systems entirely and returns all available funds to the wallet. This is a critical security guarantee of the non-custodial design — your funds can never be locked or withheld indefinitely.
Under normal operation, standard withdrawals through the exchange interface are faster and more convenient. The wallet exit function exists as an emergency backstop.
Important Notes
USDC only — Katana Perps only supports USDC for deposits and withdrawals. Other tokens are not accepted.
Same wallet — Withdrawals can only be sent to the wallet that originally deposited the funds. There is no mechanism to withdraw to a different address.
No minimum deposit — There is no minimum deposit amount, though you will need sufficient USDC to meet the initial margin requirements of the positions you wish to open.
Getting USDC on Katana
A detailed step-by-step guide for bridging funds to the Katana blockchain and depositing into Katana Perps is coming soon.
Last updated