Paradex vs dYdX

Detailed side-by-side comparison of features, fees, and trading experience

Paradex

+ Zero trading fees for retail users — both maker and taker — on 100+ perpetual futures markets, with pro taker fees at just 0.02%
+ Privacy-preserving trading via zk-encryption hides positions, entries, exits, and PnL from public view, preventing MEV and liquidation sniping
+ 600+ markets spanning perpetual futures, perpetual options, and spot — roughly triple the next competitor's roster

− USDC-only collateral — no multi-collateral support, limiting flexibility for traders holding other assets
− Restricted for US persons, Canadian persons, and sanctioned jurisdictions — VPN usage explicitly prohibited in Terms of Service
− Minimum order size of $500 on BTC, ETH, and SOL perpetuals ($200 on other markets), higher than many competitors

+ Competitive perpetuals taker fee of 0.05% at base tier with maker rebates rewarding liquidity providers, plus zero-fee periods on BTC and SOL markets and a Surge program offering 50% fee rebates
+ Fully decentralized governance — all protocol parameters including fees, market listings, and rewards are controlled by DYDX token holders through onchain voting
+ No KYC required — non-custodial trading via wallet connection with full onchain transparency on the dYdX Cosmos appchain

− Maximum leverage capped at 20x — significantly lower than competitors like Hyperliquid (50x) or GMX (100x) on major pairs
− Perpetuals remain restricted in the US, UK, and Canada — US traders can only access the new Solana spot product, not derivatives
− USDC-only collateral with no multi-collateral support — traders cannot use BTC, ETH, or other assets as perpetual margin

Is Paradex or dYdX better?

Paradex has a higher rating (4.5 vs 4.3). Paradex offers lower fees (0% vs 0.05%). Choose Paradex for lower fees, and dYdX for its features.

What are the fees on Paradex vs dYdX?

Paradex charges 0% taker / 0% maker. dYdX charges 0.05% taker / 0.01% maker for perpetuals.