dYdX is an open-source, Cosmos-based decentralized exchange that offers perpetual futures trading, which are derivative products on the blockchain. dYdX was founded by Antonio Juliano, who is a former Coinbase and Uber engineer. The company offers traders a way to trade using their own wallets and therefore do not have to worry about having their money held by a third party, has a very high transaction speed and has much lower fees compared to traditional exchanges.
Founded by former Coinbase/Uber engineer Antonio Juliano as a decentralized margin trading platform on the Ethereum blockchain.
dYdX officially launched as a margin trading and spot trading exchange.
dYdX moved to Starkware's Layer 2 solution to allow users to increase their leverage up to 25x and to reduce the costs associated with trading on the platform; raised $65 million in a Series C funding round led by Paradigm.
dYdX announced its intention to migrate to its own Cosmos-based blockchain to further decentralize its operations.
dYdX launched version 4 of the decentralized margin trading platform on its new dYdX Chain with the capability of processing 2000+ transactions per second.
dYdX Chain (Cosmos app-chain with Tendermint PoS)
Based on official announcements and technical migration documentation
| Service | Cost | Details | Source |
|---|---|---|---|
| Maker Fee (30-day volume $100K-$1M) | 0.020% | Tiered based on 30-day trading volume and order type | dYdX official fees page |
| Taker Fee (30-day volume $100K-$1M) | 0.050% | Tiered based on 30-day trading volume and order type | dYdX official fees page |
| Maker Fee (30-day volume $1M-$5M) | 0.015% | Lower rates for higher volume tiers | dYdX official fees page |
| Taker Fee (30-day volume $1M-$5M) | 0.040% | Lower rates for higher volume tiers | dYdX official fees page |
| BTC & SOL Perpetual Trading | 0% (zero fees) | Specific markets with zero trading fees following v9.4 upgrade and community vote | MEXC news |
| Gas Fees | 0 (no gas fees) | Uses StarkEx L2 and dYdX Chain app chain for minimal/zero gas fees on perpetuals and most transactions | CryptoVantage review |
| DYDX Token Discount | 3-50% off fees | Discount on perpetual trading fees based on DYDX balance held | CryptoVantage review |
| Feature | dYdX | Raydium | GMX | Perpetual Protocol |
|---|---|---|---|---|
| Perpetual Contracts Trading | Yes | No | Yes | Yes |
| Maker/Taker Fees | 0.02%/0.05% | 0.25%/0.25% | 0.1%/0.1% | 0.1%/0.1% |
| Zero Gas Fees | Yes (StarkEx/Chain) | No | Partial (Arbitrum) | Partial (Optimism) |
| Zero Fee Markets (BTC/SOL) | Yes | No | No | No |
| L2/App Chain Infrastructure | Yes (Cosmos-based) | No (Solana) | Yes (Arbitrum) | Yes (Optimism) |
| Supported Cryptos | 50+ | 21+ | 30+ | 20+ |
| DYDX Token Discounts | 3-50% | No | No | No |
| API Access | Yes | Yes | Yes | Yes |
| Decentralized Orderbook | Yes | AMM | AMM | vAMM |
| US Market Plans | Yes (2026) | No | No | No |
B) While dYdX has been offering advanced perpetuals derivatives trading utilizing a professional order book matching system and Raydium has been focusing on Solana AMM spot trading, dYdX has significantly lower fees (0.02-0.05% vs 0.25%) and L2 zero gas fees as opposed to Raydium’s higher Solana fees.
F) dYdX is ideal for professional derivatives traders; Raydium is ideal for simple Solana spot swaps.
C) As both are DeFi perps leaders, however, dYdX utilizes a centralized limit order book providing superior execution compared to GMX’s AMM model. dYdX also has lower base fees, however, GMX does offer GLP liquidity provider yields. dYdX’s app-chain provides faster finality.
G) dYdX is ideal for active traders requiring exact entry points; GMX is ideal for passive yield generation.
D) dYdX has matured into a full app-chain with greater volume and more markets than Perpetual Protocol’s Optimism vAMM, dYdX also has lower fees and better liquidity. While both are non-custodial, dYdX has stronger professional features.
H) dYdX leads in scale and execution; Perpetual Protocol is ideal for simpler Optimism-based perps.
E) dYdX is a direct competitor with a similar fee-buyback model. Hyperliquid is rapidly growing on its own chain but dYdX has much greater established volume, more mature governance and US expansion plans. Both have very competitive pricing on fees.
I) Both are excellent; dYdX is ideal for an established ecosystem, Hyperliquid is ideal for cutting-edge speed.
To access the live chat via dydx.trade > More > Help. For community help go to dYdX discord channel. Governance forum is for governance discussion only, not technical support.
dYdX support team assists clients in 8 languages including English, Turkish, Russian, and French at native or fluent speaker levels.
dYdX Chain (v4) is a fully decentralized application chain on top of Cosmos SDK with an application specific blockchain. It supports non-custodial wallet trading with MEV protection.
Trading is non-custodial — you are in control of your funds via your wallet. There is no Know Your Customer (KYC) process needed. dYdX collects only the minimum amount of transaction data to comply with their privacy policy.
v3 (dydx.exchange) is a Layer 2 solution on top of Ethereum. v4 (dydx.trade) is a completely decentralized application chain with improved scalability, reduced fees and native order book.
Yes – maker / taker fees are assessed per 30 day volume of trades; DYDX Staking will also affect fee rates. Full fee schedule outlined within the Help Center. Gas fees are charged in USDC.
Yes - Up to 50X Leverage is offered on Perpetual Contracts; cross-margining and isolated margining options are also available when using Advanced Risk Management.
dYdX has a fully Decentralized Platform that offers Mobile Web Access. The platform was designed to be compatible with both Mobile & Desktop devices, as well as API Trading.
dYdX is currently the Leading Decentralized Derivatives Exchange offering professional grade perpetuals trading on an App-Specific Blockchain. dYdX enables users to trade from their Non-Custodial Wallet, while providing them with Deep Liquidity and advanced tools such as MEV Capture, all in a completely Decentralized manner - thus providing users with Institutional Quality Execution without Central Custody Risks.
dYdX is the Decentralized Perpetuals Trading Platform for Experienced Traders Seeking Self-Custody, Liquidity, and Institutional-Quality Features.
dYdX Offers Professional Grade Decentralized Perpetuals Trading Through Its v4 Cosmos-Based App-Chain. dYdX's Support Team Provides Multilingual Assistance via InterCom 24 Hours A Day, 5 Days A Week with Response Times Improved Significantly. All Trades Take Place Within a Non-Custodial Wallet Environment, with a Comprehensive API/Indexer Ecosystem.
Good - detailed information from official help centers, forum reports, docs, and privacy policy. Some technical API details require developer docs review. No G2/Capterra ratings available for DeFi protocol.
ACX International will provide multilingual support to its clients 24 hours a day through Intercom. The first company in the cryptocurrency space to outsource to companies in the compliance and customer support areas of the cryptocurrency space.
V3 on dydx.exchange (Ethereum L2), V4 on dydx.trade (Cosmos application chain). V4 includes a fully decentralized order book with MEV capture and governance.
The company uses a very active Discord channel for community support. The company has a governance forum at dydx.forum where they can discuss protocol development and not about user support.
There are comprehensive API documentation files, indexers for real time data, and a TypeScript SDK on GitHub. Testnet available for integration testing.
No custody is required by non-custodial accounts. No KYC is necessary, only the processing of the address of a user’s wallet and the transaction data. Users may maintain control of their own data through privacy@dydx.exchange.
| Asset | Contract Type | Max Leverage | 24h Volume |
|---|---|---|---|
| BTC-USD | Perpetual | 20x | $450M |
| ETH-USD | Perpetual | 20x | $280M |
| SOL-USD | Perpetual | 10x | $85M |
| LIT-USD | Perpetual | 10x | $42M |
| AVAX-USD | Perpetual | 10x | $28M |
386 perpetual markets supported as of late 2025; leverage varies by market and margin mode
Multiple Stop-Loss Modes including Trailing Stops
Partial Fills with Advanced Take-Profit
Liquidation Shortfall Coverage
Prevents manipulation-based liquidations
Per-market position size caps
Passive liquidity provision for order books
Native dYdX Chain for perps; multi-chain spot expansion planned
