Question 1

What is a perpetual DEX?

Accepted Answer

A perpetual DEX (perp DEX) is a decentralized exchange for trading perpetual futures contracts, which have no expiry date. You trade directly from your own wallet using smart contracts, keeping custody of your funds with no central intermediary and, in most cases, no KYC.

Question 2

What are the top perpetual DEXs globally?

Accepted Answer

By 24-hour trading volume, the largest perpetual DEXs right now are Hyperliquid, Variational, and Aster. Beginners usually start with the largest, most liquid platforms; active traders also weigh fees and features.

Question 3

What are funding rates?

Accepted Answer

Funding rates are periodic payments exchanged between long and short traders that keep a perpetual contract price aligned with the underlying spot market. On positions held for more than a few hours, funding can quietly become your largest cost, so factor it in alongside trading fees.

Question 4

Do I need KYC to trade on a perp DEX?

Accepted Answer

In most cases no. Perp DEXs are non-custodial and let you connect a wallet and trade without identity verification. You are responsible for your own security, and some platforms restrict access from certain countries regardless.

Question 5

Which perp DEX has the lowest trading fees?

Accepted Answer

Based on our data, Paradex, Aster, Extended, and others currently offer 0.00% maker fees. The industry average hovers around 0.02% for makers and 0.04% for takers.

Question 6

What's the difference between a perp DEX and a centralized exchange?

Accepted Answer

A centralized exchange holds your funds and offers fiat on-ramps, support, and deep liquidity. A perp DEX lets you trade perpetual futures from your own wallet with no middleman, but it requires more technical comfort and you carry smart-contract and liquidation risk yourself.

Question 7

How is this page maintained and updated?

Accepted Answer

Data that can be tracked live, like trading volume and open interest, comes from CoinGecko and other APIs. For everything else, our team regularly checks the platforms firsthand using real accounts.

Name	▲Open Interest	▲30D Volume	▲Maker Fee	▲Taker Fee	▲RankFi Discount	▲Code	Website
Hyperliquid	$7.65B	$205B	0.015%	0.045%	4%		Trade
Aster	$1.31B	$54.7B	0%	0.04%	5%		Trade
Variational	$1.04B	$75.7B	0%	0%	N/A		Trade
Lighter	$767M	$61.2B	0%	0%	N/A		Trade
GRVT	$453M	$14.9B	-0.0001%	0.045%	N/A		Trade
Antarctic	$332M	$8.79B	0.02%	0.05%	N/A		Trade
EdgeX	$215M	$30.7B	0.04%	0.045%	N/A	N/A	Trade
AlphaX	$199M	N/A	0%	0%	N/A		Trade
GMX	$169M	$27.5B	0.06%	0.06%	5%		Trade
GMTrade	$109M	$24.0B	0.02%	0.024%	N/A	N/A	Trade
Arcus	$102M	$8.03B	0.015%	0.045%	N/A		Trade
Extended	$99.3M	$7.07B	0%	0.025%	N/A	N/A	Trade
ApeX	$77.0M	$13.7B	0.02%	0.05%	5%	N/A	Trade
Veranta	$63.0M	$12.7B	0.01%	0.045%	N/A		Trade
Pacifica	$60.9M	$10.3B	0.015%	0.040%	N/A	N/A	Trade
DYDX	$53.5M	$1.31B	0.01%	0.05%	N/A	N/A	Trade
Nado	$42.5M	$9.69B	0.01%	0.035%	N/A	N/A	Trade
Jupiter	$37.2M	$5.70B	0.06%	0.06%	N/A	N/A	Trade
StandX	$15.5M	$11.4B	0.01%	0.04%	N/A		Trade
Paradex	$6.00M	$459M	0%	0%	5%	N/A	Trade
Gains Trade	$2.10M	$1.60B	0.06%	0.06%	N/A		Trade
SynFutures	$1.27M	$2.24B	0%	0.05%	N/A	N/A	Trade
Reya	$793K	$1.65B	0.03%	0.03%	10%		Trade
MUX	$201K	$5.93M	0.06%	0.06%	2.5%	N/A	Trade
Velocity	$0	$0	-0.0025%	0.060%	5%		Trade

Best Perp DEXs Compared

Top Picks

Insights

Volume Market Share

Questions, answered.

We Test Exchanges So You Don't Have To.

Best Perp DEXs Compared

Top Picks

Insights

Volume Market Share

Questions, answered.

01What is a perpetual DEX?

02What are the top perpetual DEXs globally?

03What are funding rates?

04Do I need KYC to trade on a perp DEX?

05Which perp DEX has the lowest trading fees?

06What's the difference between a perp DEX and a centralized exchange?

07How is this page maintained and updated?

We Test Exchanges So You Don't Have To.