| FEATURE | DYDX | GRVT |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0.05% | 0.045% |
| Maker Fee | 0.01% | -0.0001% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 73 | 184 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.0 | 4.5 |
dYdX vs GRVT: key differences
Opening and closing a $10,000 position with market orders costs $9.00 on GRVT and $10.00 on dYdX at base-tier taker fees, a difference of $1.00 per round trip.
For limit orders, dYdX charges makers 0.01%, while GRVT pays makers a 0.0001% rebate.
GRVT lists 184 perpetual markets, dYdX lists 73.
GRVT is the more liquid venue, with $481M in 24-hour volume against $3M on dYdX (about 160 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC on dYdX and in USDT, USDC on GRVT.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| dYdX | GRVT | |
|---|---|---|
| Taker round trip on $10,000 | $10.00 | $9.00 |
| Maker round trip on $10,000 | $2.00 | $0.02 rebate |
| Best-tier taker fee | 0.025% | 0.024% |
| BTC max leverage | 50x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $3M | $481M |
| TVL | $108M | $34M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDT, USDC |
| Deposit networks | Ethereum, Arbitrum, Optimism +6 more | Ethereum, Arbitrum, Base +4 more |
| Minimum order | $1 | $5 |
| Order types | 6 | 10 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 16 | 17 |
| Founded | 2017 | 2022 |
Choose dYdX if
- Its feature set fits your workflow better; on the measured data points it does not beat GRVT.
Choose GRVT if
- You mostly use market orders: 0.045% taker fee against 0.05% on dYdX.
- You place limit orders: makers earn a 0.0001% rebate.
- You trade smaller or newer markets: 184 perpetual pairs against 73.
- You trade size and need liquidity: $481M in 24-hour volume against $3M.
- You want a sign-up discount: 20% off fees through a referral link.
dYdX
PROS
- + Base tier perpetuals fees of 0.05% taker and 0.01% maker, falling to 0.025% taker and a -0.011% maker rebate at 200 million USD of 30-day volume
- + Staking discount on trading fees: 3,000 staked DYDX cuts base tier fees by 25%, and 20,000 staked DYDX cuts them by 50%
- + Onchain governance by DYDX token holders controls fees, market listings and rewards, with 75% of protocol fees directed to DYDX buybacks
CONS
- − Low liquidity in 2026: 24-hour perpetuals volume was about 3 million USD on October 4, 2026, and the active market count fell from 114 to 73 in three months as governance wound down low-activity markets
- − 50x leverage is available only on BTC and ETH; SOL is capped at 20x and the other 70 markets at 5x or 10x
- − Perpetuals are restricted in the US, UK and Canada, so US traders can only use the Solana spot product
GRVT
PROS
- + Negative maker fees on perpetuals across all nine tiers, from -0.0001% at Level 1 to -0.003% at Level 9, so makers receive a rebate on every filled limit order
- + Self-custodial with optional KYC: users can sign up with only an email and trade without identity verification while keeping control of their funds
- + 184 perpetual markets, including 98 equity and index markets and 8 commodity markets such as gold (XAU) and crude oil, with up to 50x leverage on BTC and ETH
CONS
- − Only USDT and USDC are accepted as collateral; unified multi-collateral margin is targeted for Q4 2026 in the GRVT litepaper
- − Spot trading is limited to two pairs (GRVT/USDT and USDC/USDT), and options and dated futures are not available
- − Leverage is capped at 10x on 172 of the 184 perpetual markets; 50x applies only to BTC and ETH positions under 600,000 USD notional
Frequently Asked Questions
Is dYdX or GRVT better?
GRVT has a higher rating (4.5 vs 4). GRVT offers lower fees (0.045% vs 0.05%). Choose dYdX for its features, and GRVT for lower fees.
What are the fees on dYdX vs GRVT?
dYdX charges 0.05% taker / 0.01% maker. GRVT charges 0.045% taker / -0.0001% maker for perpetuals.
Which has higher leverage, dYdX or GRVT?
dYdX offers up to 50x, and GRVT offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do dYdX and GRVT require KYC?
dYdX does not require KYC. GRVT does not require KYC. Both restrict some jurisdictions (dYdX lists 16; GRVT lists 17), so check the terms of service for your country before depositing.
Is dYdX or GRVT safer?
dYdX has been audited and runs an insurance fund, and custody is non-custodial. GRVT has been audited and runs an insurance fund, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, dYdX or GRVT?
dYdX recorded $3M in 24-hour volume and GRVT recorded $481M, as of 2026-10-04. dYdX lists 73 perpetual markets and GRVT lists 184.