| FEATURE | DYDX | NADO |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.05% | 0.035% |
| Maker Fee | 0.01% | 0.01% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 73 | 77 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.0 | 3.6 |
dYdX vs Nado: key differences
Opening and closing a $10,000 position with market orders costs $7.00 on Nado and $10.00 on dYdX at base-tier taker fees, a difference of $3.00 per round trip.
Nado lists 77 perpetual markets, dYdX lists 73.
Nado is the more liquid venue, with $128M in 24-hour volume against $3M on dYdX (about 43 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 USDT0, USDC, wETH, kBTC +2 more on Nado.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| dYdX | Nado | |
|---|---|---|
| Taker round trip on $10,000 | $10.00 | $7.00 |
| Maker round trip on $10,000 | $2.00 | $2.00 |
| Best-tier taker fee | 0.025% | 0.015% |
| BTC max leverage | 50x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $3M | $128M |
| TVL | $108M | $53M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDT0, USDC, wETH, kBTC +2 more |
| Deposit networks | Ethereum, Arbitrum, Optimism +6 more | Ink |
| Minimum order | $1 | $100 |
| Order types | 6 | 8 |
| Options | No | No |
| Mobile app | Yes | No |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | No |
| Restricted jurisdictions | 16 | 10 |
| Founded | 2017 | 2025 |
Choose dYdX if
- You trade from a phone: dYdX has a mobile app.
Choose Nado if
- You mostly use market orders: 0.035% taker fee against 0.05% on dYdX.
- You trade smaller or newer markets: 77 perpetual pairs against 73.
- You trade size and need liquidity: $128M in 24-hour volume against $3M.
- You want to post margin in more than one asset.
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
Nado
PROS
- + Base fees of 0.035% taker and 0.01% maker on perpetual and spot markets, falling to 0.015% taker and a 0.008% maker rebate at VIP 6 (1 billion dollars of 30-day volume)
- + One margin account covers perpetuals, spot, and lending: USDT0, USDC, wETH, kBTC, XAUT0, and tokenized xStocks such as SPYx and QQQx count as collateral, and deposits earn money market interest
- + 77 tradable perpetual markets in the Nado API (October 4, 2026), including US stock and ETF perpetuals such as NVDA, TSLA, SPY, and QQQ, three FX pairs, gold, silver, and WTI oil
CONS
- − The docs and the DeFiLlama listing show no published smart contract audit; the HackenProof bug bounty covers the web app only and pays 50 to 10,000 dollars per finding
- − View-only in the United States and Canada, and blocked in Panama, Belarus, Cuba, Iran, North Korea, Russia, Syria, and Ukraine under the Terms of Use dated August 26, 2026 and the Restricted Territories page
- − Deposits work only on Ink, so funds from Ethereum, Arbitrum, or an exchange must first be bridged or withdrawn to Ink, and each USDT0 withdrawal costs 1 USDT0
Frequently Asked Questions
Is dYdX or Nado better?
dYdX has a higher rating (4 vs 3.6). Nado offers lower fees (0.035% vs 0.05%). Choose dYdX for its features, and Nado for lower fees.
What are the fees on dYdX vs Nado?
dYdX charges 0.05% taker / 0.01% maker. Nado charges 0.035% taker / 0.01% maker for perpetuals.
Which has higher leverage, dYdX or Nado?
dYdX offers up to 50x, and Nado offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do dYdX and Nado require KYC?
dYdX does not require KYC. Nado does not require KYC. Both restrict some jurisdictions (dYdX lists 16; Nado lists 10), so check the terms of service for your country before depositing.
Is dYdX or Nado safer?
dYdX has been audited and runs an insurance fund, and custody is non-custodial. Nado has no published audit on record here 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 Nado?
dYdX recorded $3M in 24-hour volume and Nado recorded $128M, as of 2026-10-04. dYdX lists 73 perpetual markets and Nado lists 77.