Overview
SushiSwap (Arbitrum Nova) is a decentralized AMM-based exchange launched around 2022, running on the Arbitrum Nova network. It supports only crypto, with around six coins and trading pairs. Daily volume is low, just tens of thousands USD, and user reviews or regulation status remain minimal.
SushiSwap on Arbitrum Nova - A Lean DeFi Mini Hub
This version of SushiSwap is basically a minimal on-chain swap venue tailored for a niche audience rather than mass users. As a non-custodial DEX it connects you directly to liquidity pools with no central order books and no KYC. Trades happen peer-to-peer via smart contracts. The experience is basic. You connect your wallet, bridge ETH or other tokens into Arbitrum Nova, pick a pair and swap. For new users, setting up the network in MetaMask and adding assets manually can feel cumbersome. Some users describe it as confusing and off-putting.
Assets, Pairs and Volume
At present SushiSwap (Arbitrum Nova) lists only six coins and six trading pairs. MOON/WETH leads the way with around 24K USD in volume, making up over half of daily trading. Overall daily volume sits between 6K and 75K USD depending on the day. The limited number of pairs and low activity suggest it's used mainly by token communities rather than general traders.
Fees and Trading Mechanics
Trading on SushiSwap follows the standard AMM fee model of 0.30% maker and taker. There is no leverage, margin or orderbook functionality. Liquidity depths can be shallow and spreads average around 0.67%, which is high for small volume pools.
Security and Decentralization
Security is intrinsic. Since it's a purely smart contract-based DEX, users retain control over their keys and funds. Trades settle directly on-chain, with no counterparty risk from custody. There have been no reported hacks specific to this deployment so far. Governance is handled by the wider Sushi DAO, but the Arbitrum Nova deployment comes without any dedicated governance token. Token communities handle their own governance, not Sushi governance directly.
Reputation and Trust Signals
There are almost no independent user reviews for this version. Regulatory oversight is nonexistent, which is typical for unhosted DeFi protocols. With negligible traffic and community visibility, trust comes solely from your own wallet connection and contract audits.
Pros and Cons
- Pros: Full decentralization with a self-custody model; Low barrier to entry for experienced DeFi users; Simple interface with core features like swapping, liquidity provision and farming.
- Cons: Very limited coins and pairs, only six assets and shallow markets; Low volume and poor liquidity leading to high slippage; Difficult onboarding for beginners with network setup and bridging; No fiat, no customer support and no centralized fallback.
Who Might Use This
This version of SushiSwap is best suited for DeFi power users or token communities active on Arbitrum Nova. If you are comfortable bridging assets, adding token contracts and managing your wallet, it may serve simple swap needs. Traders who need depth, many coins, leverage or fiat on-ramps will find better options elsewhere.
Final Thoughts
SushiSwap on Arbitrum Nova offers a stripped-down decentralized trading experience aimed at specific token ecosystems and experienced users rather than the mainstream market. Volume is modest, liquidity is low and onboarding can be tricky. It works if you know what you are doing, but for broader trading needs other exchanges remain a safer choice.