| FEATURE | DYDX | VELOCITY |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.05% | 0.06% |
| Maker Fee | 0.01% | -0.0025% |
| Max Leverage | 50x | 20x |
| Perp Pairs | 73 | 4 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.0 | 2.5 |
dYdX vs Velocity: key differences
Velocity is still in recovery after a security incident. Read the status notice in the Velocity review before depositing.
Opening and closing a $10,000 position with market orders costs $10.00 on dYdX and $12.00 on Velocity at base-tier taker fees, a difference of $2.00 per round trip.
For limit orders, dYdX charges makers 0.01%, while Velocity pays makers a 0.0025% rebate.
dYdX allows up to 50x leverage against 20x on Velocity. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
dYdX lists 73 perpetual markets, Velocity lists 4.
dYdX also has spot trading; Velocity is perpetuals only.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC on dYdX and in USDT, SOL, wBTC, wETH on Velocity.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| dYdX | Velocity | |
|---|---|---|
| Taker round trip on $10,000 | $10.00 | $12.00 |
| Maker round trip on $10,000 | $2.00 | $0.50 rebate |
| Best-tier taker fee | 0.025% | 0.02% |
| BTC max leverage | 50x | 20x |
| Margin modes | cross, isolated | cross-margin |
| 24h volume | $3M | — |
| TVL | $108M | $343M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC | USDT, SOL, wBTC, wETH |
| Deposit networks | Ethereum, Arbitrum, Optimism +6 more | Solana |
| Minimum order | $1 | — |
| Order types | 6 | 11 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | Yes | No |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 16 | — |
| Founded | 2017 | 2021 |
Choose dYdX if
- You mostly use market orders: 0.05% taker fee against 0.06% on Velocity.
- You want higher leverage: up to 50x against 20x.
- You trade smaller or newer markets: 73 perpetual pairs against 4.
- You want spot and perpetuals in one account.
Choose Velocity if
- You have read its recovery status first: users affected by the earlier incident have not been made whole.
- You place limit orders: makers earn a 0.0025% rebate.
- You want to post margin in more than one asset.
- You want a sign-up discount: 5% 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
Velocity
PROS
- + Trading is open again: the public beta has been available to all users since September 21, 2026, with BTC, ETH and SOL perpetuals at up to 20x leverage and HYPE at up to 10x
- + Makers receive a 0.0025% rebate on post-only orders at every volume tier, and the taker fee falls from 0.06% to 0.02% above 200 million dollars in 30-day volume
- + One cross-margin account accepts USDT, SOL, wBTC and wETH as collateral, and deposits earn lending interest while they back positions
CONS
- − About 286 million dollars was stolen on April 1, 2026 through compromised administrator keys, and verified user losses are about 295.4 million dollars
- − Affected users have recovered about 1 percent so far: each DFX recovery token redeemed for about 0.0104 USDT from a 3.11 million USDT pool in early October 2026
- − The relaunched exchange lists four perpetual markets, down from more than 40 before the exploit, and spot order book trading was removed
Frequently Asked Questions
Is dYdX or Velocity better?
dYdX has a higher rating (4 vs 2.5). dYdX offers lower fees (0.05% vs 0.06%). Choose dYdX for lower fees, and Velocity for its features.
What are the fees on dYdX vs Velocity?
dYdX charges 0.05% taker / 0.01% maker. Velocity charges 0.06% taker / -0.0025% maker for perpetuals.
Which has higher leverage, dYdX or Velocity?
dYdX offers up to 50x, and Velocity offers up to 20x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do dYdX and Velocity require KYC?
dYdX does not require KYC. Velocity does not require KYC. Both restrict some jurisdictions (dYdX lists 16; Velocity publishes no list we could verify), so check the terms of service for your country before depositing.
Is dYdX or Velocity safer?
dYdX has been audited and runs an insurance fund, and custody is non-custodial. Velocity 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.