| FEATURE | DYDX | PARADEX |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0.05% | 0% |
| Maker Fee | 0.01% | 0% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 73 | 63 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.0 | 4.5 |
dYdX vs Paradex: key differences
Opening and closing a $10,000 position with market orders costs $0 on Paradex and $10.00 on dYdX at base-tier taker fees, a difference of $10.00 per round trip.
For limit orders, dYdX charges makers 0.01%, while Paradex charges makers nothing.
dYdX lists 73 perpetual markets, Paradex lists 63.
Paradex is the more liquid venue, with $6M in 24-hour volume against $3M on dYdX (about 2.0 times more). Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| dYdX | Paradex | |
|---|---|---|
| Taker round trip on $10,000 | $10.00 | $0 |
| Maker round trip on $10,000 | $2.00 | $0 |
| Best-tier taker fee | 0.025% | 0% |
| BTC max leverage | 50x | 50x |
| Margin modes | cross, isolated | cross, isolated, portfolio |
| 24h volume | $3M | $6M |
| TVL | $108M | $32M |
| Custody | non-custodial | hybrid |
| Collateral | USDC | USDC |
| Deposit networks | Ethereum, Arbitrum, Optimism +6 more | Ethereum, Starknet, Arbitrum +19 more |
| Minimum order | $1 | $10 |
| Order types | 6 | 11 |
| Options | No | Yes |
| Mobile app | Yes | Yes |
| Testnet or demo | Yes | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 16 | 19 |
| Founded | 2017 | 2023 |
Choose dYdX if
- You trade smaller or newer markets: 73 perpetual pairs against 63.
Choose Paradex if
- You mostly use market orders: 0% taker fee against 0.05% on dYdX.
- You place limit orders: 0% maker fee against 0.01% on dYdX.
- You trade size and need liquidity: $6M in 24-hour volume against $3M.
- You trade options as well as perpetuals.
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
Paradex
PROS
- + Zero trading fees for retail orders (0% maker and 0% taker) on all 63 perpetual futures markets, on dated options, and on spot
- + Private trading: positions, orders, entries, exits, and PnL are encrypted and hidden from other traders, which limits liquidation sniping and front-running
- + 63 perpetual markets beyond crypto, including GOOGL, META, MSFT, and MSTR, the US100 and US500 indices, gold, silver, copper, and crude oil, plus about 6,700 options contracts on 11 underlyings
CONS
- − USDC is the only collateral asset. Spot balances in other tokens count toward account value but cannot be used as margin for perpetuals
- − Not available to US and Canadian persons, residents of US territories, or people in Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk, and Sevastopol
- − Pro orders sent through the standard API are not free: 0.003% maker since July 3, 2026 and 0.045% taker at the base tier, with a 0.0175% floor after all discounts
Frequently Asked Questions
Is dYdX or Paradex better?
Paradex has a higher rating (4.5 vs 4). Paradex offers lower fees (0% vs 0.05%). Choose dYdX for its features, and Paradex for lower fees.
What are the fees on dYdX vs Paradex?
dYdX charges 0.05% taker / 0.01% maker. Paradex charges 0% taker / 0% maker for perpetuals.
Which has higher leverage, dYdX or Paradex?
dYdX offers up to 50x, and Paradex offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do dYdX and Paradex require KYC?
dYdX does not require KYC. Paradex does not require KYC. Both restrict some jurisdictions (dYdX lists 16; Paradex lists 19), so check the terms of service for your country before depositing.
Is dYdX or Paradex safer?
dYdX has been audited and runs an insurance fund, and custody is non-custodial. Paradex has been audited and runs an insurance fund, and custody is hybrid. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, dYdX or Paradex?
dYdX recorded $3M in 24-hour volume and Paradex recorded $6M, as of 2026-10-04. dYdX lists 73 perpetual markets and Paradex lists 63.