tread.fi

What tread.fi does

tread.fi (legal entity Tread Labs Corporation, incorporated in New York) is an algorithmic trading infrastructure provider for digital asset markets, founded in July 2024 by David Jeong, an ex-Morgan Stanley quant. The platform operates as a non-custodial Order and Execution Management System (OEMS) that connects to users' own exchange accounts via API keys across 17+ venues spanning centralized exchanges (Binance, Bybit, OKX, Deribit, Gate, Bitget, Aster, RISEx), perpetual DEXs (Hyperliquid, Paradex, Pacifica, Nado, Ondo), and spot DEXs (OKXDEX, Aftermath). Core execution capabilities include industry-standard algorithms (VWAP, TWAP, Implementation Shortfall, Market Maker, Iceberg, Aggressive Maker/Taker, Limit, IOC, Market) with smart order routing, real-time order tracking, transaction cost analysis, and the Win Rate Predictor ML model trained on 205,000+ real trades. The product surface extends into automated bots (Market Maker Bot, Delta Neutral Bot), vCeFi (a protocol for verifiable on-chain CeFi data using witness attestations and zk-rollups), prediction market support (Polymarket, HIP-4), mobile apps, and a Telegram execution bot.

The go-to-market blends product-led growth (free self-serve signup with email or Web3 wallet, no KYC) with an enterprise tier offering Admin Panel access, custom execution strategies, REST API/WebSocket automation, and self-hosted or managed deployment options for institutional trading teams. Revenue is generated primarily through a 2 basis point (0.02%) builder fee on volume generated by the Market Maker Bot on Hyperliquid, plus quote-based enterprise subscriptions; users otherwise pay standard exchange maker/taker fees that pass through to the underlying venues. Marketing is content-driven via a regularly updated blog, comprehensive documentation portal, YouTube demos, Discord community, and earned media in crypto publications.

The company has eight employees split between Bangkok (engineering) and New York (headquarters), closed a $3.5 million pre-seed round in July 2024 led by New Form Capital with participation from Aquanow, Varys Capital, Thanefield Capital, and others, and has processed over $10 billion in cumulative trading volume with $1B+ in weekly volume as of April 2025.

Name

tread.fi

Legal name

Tread Labs Corporation

Website

https://tread.fi

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

tread.fi is a non-custodial algorithmic trading terminal and OEMS for digital assets, enabling retail and institutional traders to execute across 17+ CEXs, perpetual DEXs, and spot DEXs from a single interface with advanced execution algorithms, automated bots, and ML-based configuration optimization.

Ownership category

akta.pro rank

Product category

Algorithmic Trading Software

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

On-Chain Limit Orders & Algorithmic Execution (FSADABAJ)

akta.pro secondary industries

DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD), DEX Aggregators & Smart Order Routing (FSAPADAC)

Keywords

• Algorithmic trading platform
• Crypto execution algorithms
• Market making bots
• Digital asset OEMS
• Smart order routing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Trading fees (Exchange fees): Users pay standard exchange fees (maker and taker fees) set by the connected exchanges (Binance, Bybit, OKX, Hyperliquid, etc.) when trading through the platform.
2. Builder fee on volume: For volume generated on Hyperliquid using the Market Maker Bot, Tread.fi charges a 2 basis points (0.02%) builder fee. This is a transparent, usage-based fee tied to automated volume generation.
3. Platform service fees: Per the Terms of Service, Tread may charge fees for use of the Services. The platform is described as free to use, with specific fees charged on certain trading activities. Enterprise plans offer custom execution strategies and automation via the REST API.
4. Enterprise plans: Enterprise tier with self-hosted and managed service options. Includes custom execution strategies, automation, Admin Panel access, trading groups, risk limits, and organization-level controls for institutional users.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

tread.fi operates a high-performance algorithmic trading terminal and Order & Execution Management System (OEMS) for digital assets. The platform connects to users' own centralized exchange, perpetual DEX, and on-chain accounts via API keys, then routes orders using advanced execution algorithms (VWAP, TWAP, Implementation Shortfall, Iceberg, Aggressive Maker/Taker, etc.) with smart order routing, real-time fill tracking, and transaction cost analysis. It is offered as a self-serve freemium product for individual crypto traders and as a quote-based Enterprise tier with self-hosted or managed deployment, custom execution strategies, and an Admin Panel for team, risk, and compliance management.

Product overview

tread.fi is an algorithmic trading terminal and OEMS (Order and Execution Management System) offered as a unified platform with both web interface and REST API/WebSocket access. The core platform (tread.fi Platform) provides algorithmic execution across CEXs and DEXs with smart order routing. Key modules include the Market Maker Bot for automated liquidity provision, Delta Neutral Bot for funding rate arbitrage, and vCeFi for verifiable on-chain CeFi data. Analytics tools include Market Scan (market health scanner), Rankings (performance leaderboard), MMBot Analytics, and Win Rate Predictor. Trading modes include Multi/Spread/Basis/Portfolio Trading, Chained Orders, Options (Beta), and DEX Swaps. Enterprise features include Admin Panel, Self-Hosted Service, and Managed Service. The Telegram Bot provides chat-based execution. Integration ecosystem covers major CEXs (Binance, Bybit, OKX, Bitget, Deribit, Gate, Aster) and DEXs (Hyperliquid, Paradex, OKXDEX, Aftermath, Pacifica, Ondo, Nado) plus prediction markets (Polymarket, HIP-4).

Differentiator

Problem solved

Functional benefit

Brands

• vCeFi: Verifiable CeFi - a decentralized protocol enabling on-chain verification of CEX trading activity through witness attestations and Merkle proofs, allowing DeFi smart contracts to interact with CeFi data.

Products and services

• tread.fi Algorithmic Trading Platform High-performance algorithmic trading terminal and Order & Execution Management System (OEMS) for digital asset traders. Connects to user-owned CEX, perpetual DEX, and on-chain accounts via API keys, then routes orders using advanced execution algorithms (VWAP, TWAP, Implementation Shortfall, Iceberg, Aggressive Maker/Taker) with smart order routing and real-time order tracking.
• tread.fi REST API

Quantifiable outcome

• Over $10B in trading volume processed to date
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

AI capability1 record

Feature11 records

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Wintermute: One of the largest institutional crypto liquidity providers and market makers, offering algorithmic execution and OTC services across CEXs and DEXs. Directly comparable to tread.fi's algorithmic execution and smart order routing capabilities, but operates as a principal trading firm with a much broader liquidity provisioning focus.
• Binance: Largest centralized crypto exchange, offering native algo order types (TWAP, VP, iceberg, OCO) and an institutional trading terminal through Binance VIP. While tread.fi aggregates Binance via API, Binance itself competes for institutional algo execution customers at scale, making it both a partner and competitive threat.

Direct peers

• Trality: Cloud-based algorithmic crypto trading platform offering strategy building, backtesting, and automated execution across major exchanges. Closest direct competitor in the retail-to-pro algo trading space with Python-based strategy creation, similar self-serve onboarding model, and comparable target customer base.
• 3Commas: Established crypto trading automation platform offering bots (DCA, grid, futures), smart trading terminals, and portfolio tracking across major CEXs. Direct competitor in the algo crypto trading space with comparable bot-based execution features, broader retail focus, and significant existing user base.
• Cryptohopper: Long-standing crypto trading bot marketplace and automation platform supporting algorithmic strategies, copy trading, and exchange connectivity. Direct competitor offering similar self-serve algo execution across multiple CEXs with comparable bot-driven product structure.
• 1inch: Leading DEX aggregator with smart order routing across multiple chains and DEXs, offering best-execution swaps for retail and institutional users. Directly comparable on the DEX aggregation and smart order routing dimension, though tread.fi extends this to algorithmic execution and CEX routing.
• Matcha (0x): DEX aggregator powered by 0x protocol, aggregating liquidity across multiple on-chain venues for retail traders. Comparable on the DEX aggregation dimension with similar self-serve UX for retail crypto traders, though narrower in scope than tread.fi's CEX-plus-DEX offering.

Emerging players

• Hummingbot: Open-source algorithmic trading framework for building and deploying market-making, arbitrage, and other automated strategies across crypto exchanges. Comparable on the algo execution engine dimension, though positioned more as infrastructure/dev tooling than a managed platform.
• CowSwap (Gnosis): Intent-based DEX execution protocol using batch auctions and solver competition to deliver MEV-protected best execution. Comparable on the on-chain execution quality dimension and overlap with tread.fi's smart order routing capabilities, particularly for DEX trading.
• Tokka Labs: Crypto-native algorithmic execution and infrastructure provider targeting institutional and high-volume traders. Comparable on the algorithmic execution infrastructure dimension with similar positioning for sophisticated traders needing cross-venue execution tools.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tread_fi
• YouTubeyoutube.com/@tread_fi
• LinkedInlinkedin.com/company/tread-fi

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about tread.fi